We remember this old saying from the Sixties: “when the building trade is doing well, the whole economy is doing well”. We would update it because today building trade is not going well as the whole economy. French figures are overwhelming. Housing permits delivered during these last twelve months at the end of February were 364 800 units, i.e. a 21.8% fall year on year. During the same period, housing starts number (291 100) felt by 24.6%. In 2023, household investment has dropped by 5%, heavily weighting on the GDP growth. Their saving rate remained unchanged but ...