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Borg: housing market set for 20 years of stagnation

The Local
post 26.Feb.2013, 03:55 PM
Post #1
Location: Stockholm
Joined: 22.Dec.2004

Sweden's real estate market is headed for two decades of stagnation, Swedish Finance Minister Anders Borg warned on Monday, reiterating his concerns about the size of Swedes' household debts.

Swedish households have seen their debts rise from 88 percent of their disposable income in 1995 to 164 percent in 2011, making them among the most indebted in the world, according to Swedish business daily Dagens Industri (DI).

Speaking at the University of Gothenburg on Monday, Borg lamented Swedes' ballooning household debt, but warned that quickly clamping down on lending could cripple the Swedish economy.

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oddsock
post 26.Feb.2013, 10:54 PM
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Joined: 19.Dec.2008

I see, he wants to reduce debt, maintain house prices and maintain consumption all at the same time. Does he work at the Ministry of Magic?
History tells us that when Ministers of Finance predict stagnating house prices, that it is a prelude to house prices falling.
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