In this case it’s a giant housing shortage though. The city (and large surrounding area) is Freiburg in the south. Rents are so expensive and available flats are so rare that companies don’t find workers who could actually live there. Also: the comparably good loans don’t mean much when it’s only channeled into a greedy landlord’s pockets.
Edit: oh no i was wrong it’s Nuremberg - their public transport organization is also “VAG”. But Freiburg has a huge labor shortage due to unaffordable housing and housing shortage.