[RamblingCTO]

Nah. I suspect that rising regulation and energy/manufacturing prices cause a big sweep. The real estate market is getting fucked pretty bad right now, as well as everything relying on lots of energy. Simply put: the runway ran out for a lot of folks and new regulations bite into their margins like a fire in a papermill

[Ekaros]

Not to forget the rates. Euribor went from negative to positive in 2022... This alone had effect on some delay.