Housing prices in Norway fell the most since 2008 in September.
Housing prices has stagnated, and while housing has been norwegian's number one safe bet when it has come to investments the last 30 years - giving most baby boomers a pretty comfortable life (with big expensive houses and nice pensions) the "dream" could be shattered, as I wrote about in this post
https://steemit.com/norway/@scandinavianlife/housing-prices-and-homes-are-the-only-things-on-norwegians-minds-and-now-it-could-be-collapsing
Down 1,6% in September
Nominal decrease was 1,6% in September - while seasonally adjusted it was 0,5%
Twelve month growth are in some areas in Norway now in the negative, and in total is 1,5% compare to last years double digits.
Another interesting fact is that norwegian's consumer debt has doubled the last 10 years.
This September there was sold 7,7% less homes than last year, while there were 6,3% more homes for sale.
This could also turn out to be a great opportunity for those very few of us who has been patient and bought a smaller home. It would be nice with a cheap McMansion (or just a regular house with a small lawn)
Tell me about it!! You can look on the bright side though. You dont live here in the Uk!🙁
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i think you guys are doing way better than the rest of the world, housing prices are on a steep climb and the cost of leaving is the same too. price drop in most countries could lead to a buying frenzy which will mean more people own homes
A house it is not a good investment, except for people living in a high density area with population growing. If that it is not the case and price rise is higher than inflation, it is much likely a bubble.
Furthermore, a bigger house usually means bigger costs (maintenance, taxes, heating/cooling, etc.)
Yup. I always thought of a house as a liability. But renting is not an option. Too expensive. Its very expensive to be poor in norway. But we are living way beneath our means.
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Another housing market crash coming.
how is the situation in Sweden/Finland?
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What about Iceland?