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fru-gal

Surprising But Stockholm House Prices Also Completey Crazy!

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Stockholm has always been a bit nuts from an "inside Sweden" perspective, but has gone decidedly UK:ish boomtastic for several years now. You know the stage where at parties people ask how much they bought and sold their flats for, and people boasting how much profit they made. They're there.

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Stockholm has always been a bit nuts from an "inside Sweden" perspective, but has gone decidedly UK:ish boomtastic for several years now. You know the stage where at parties people ask how much they bought and sold their flats for, and people boasting how much profit they made. They're there.

Several years ago a Swedish friend's son clubbed together with a friend to buy a flat in Stockholm and do it up, to sell and make some money. I think they repeated this at least once.

More recently that son (now married and babied). has bought, done up and sold a family house at a profit.

I don't know why so many people seem to think it's only here.

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Several years ago a Swedish friend's son clubbed together with a friend to buy a flat in Stockholm and do it up, to sell and make some money. I think they repeated this at least once.

More recently that son (now married and babied). has bought, done up and sold a family house at a profit.

I don't know why so many people seem to think it's only here.

I think there's a commonly held misconception that the 'continentals' dont practice the same 'vulgar capitalism' that we do. That is all 'social' or 'progressive' or whatever the call communism at the moment.

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Long mortgage terms over there.

The popularity of interest-only loans means it takes 140 years on average for a Swedish household to pay off its mortgage, according to FSA calculations.

In essence, borrowers rent from the bank, while betting house prices will rise enough that when they sell, they can pay off the loan and still make a profit. (If borrowers die, heirs inherit the mortgage or sell the house to pay the bank.)

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There are unmindful greedy people everywhere it seems.

I agree, getting into a bidding war just should not happen. When prices crash people that behaved in this manner deserve everything they get.

The markets should be regulated to prevent this.

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Swedes get big tax breaks on mortgage interest, and almost none in this generation have it in their minds to pay it off. Perhaps pay off 1/3 and reap the benefits of the income tax break.

Even getting an apartment you want to rent, privately, can see you on a waiting list for more than 5 years.

It's a mental county in terms of finances, I've actually lived there. I don't know what keeps the socialism running any more as their industrial base is pretty much being destroyed with their inflated currency and generally lazy mentality.

Plus too many old people retiring young with ridiculous pensions, and a very big demographic crisis unfolding.

Sounds like a gripe... Admittedly they still have a better standard of living than almost everybody else, that is admirable.

sweden-industrial-production.png

sweden-youth-unemployment-rate.png?s=swedenyouunerat

sweden-labour-costs.png?s=swedenlabcos

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