Tuesday, June 26, 2012

At last someone is realising what is happening

Borg Bashes Banks In Sweden Shielding Housing Bubble: Mortgages

Swedish property prices have already risen too much, according to the National Housing Credit Guarantee Board, or BKN, which advises the government on housing finance. The group said residential properties are 20 percent overvalued after years of crisis policies kept interest rates low. Reducing mortgage rates further would spur credit growth and increase the risk of insolvencies if borrowing costs start to rise, BKN said.

Posted by mark @ 03:33 PM (1525 views)
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9 thoughts on “At last someone is realising what is happening

  • you couldn’t make this stuff up really could you….economics of madness,but this time with full knowledge that its madness

    madness!

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  • charlie brooker says:

    Our house . . . in the middle of a bubble.

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  • The Swedish Central bank Deputy Governor Lars E. O. Svensson say there is no bubble. That reminds me of something.

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  • lol.mervyn king looks like he has lost it

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  • general congreve says:

    This is great news, as I often here that Sweden is doing great and isn’t really part of the big fiat ponzi bubble and everything is just dandy.

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  • Borg bashes banks…

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  • gc,
    Sweden’s economy is doing well; that’s partly why their housing market is so frothy. Only Britain has achieved the economic miracle of recession without HPC.

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  • drewster it doesnt sound too healthy to me

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  • My gf and I are hoping to move there in about 4-5 years time, (she is Swedish) so I’m hoping this bubble bursts pretty soon as it will most likely be our first house given the hung state of the UK market. Her family are amazed at how out of control Swedish houses prices seem (especially inner city) and the surge in popularity for pay day loans so it’s showing all the right signs I guess 😉

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