Wednesday, August 1, 2007
Norwegian house prices do crash in the woods (=:
Don't go to this link unless you speak Norwegian - I just wanted to tell you that after years of astronomical growth, some areas of Norway experienced 10% losses last month - even the capital Oslo caught a summer chill. The average fall was 2,2 %. The word "Boligkrakk" = "House price crash" was used to head the article. They have predicted a really uncomfortable Autumn. Watch this space. Just to point out- this is happening in an economy where they are crying out for more workers and where interest rates are lower than in the UK.