4 See Battistini, N. and Vourdas, J., European Central Bank (2018), “The housing market as a predictor of  prolonged contractions in economic activity”, Box 1 of the article “The state of the housing market in the euro area”, Economic Bulletin, Issue 7.
Euro area central banks are now offering money at the lowest rate ever in the history of open financial markets. Furthermore, banks’ real lending rates are also extremely low. There is no evidence, nor are there any indications, to suggest that the price of financing would prevent investments in any of the euro area countries.