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2012-10-20

En bostadsbubbla i Norge. Men det kan väl inte hända i Sverige?

Norge kan vara på väg att bygga upp en farlig fastighetsbubbla precis som Irland och Spanien tidigare har gjort rapporterar CNBC.

Huspriserna i Norge har stigit med nästan 30 procent sedan 2006.
 

Den norska uppgången följer exakt det mönster som tidigare bubblor har gjort i andra länder som Japan, USA och Irland. 
Det skriver Bank of New York i en färsk rapport.
 

Dagens Industri 19 oktober 2012

Norway's house price rise has been so dramatic that the Federal Reserve Bank of San Francisco wrote a paper on the subject in June that made parallels between the lead up to the U.S. housing crisis and the “irrationally exuberant bubble” of Norway’s present boom.


Written by an advisor to Norway’s central bank (Norges Bank) Marius Jurgilas and San Francisco Fed’s senior economist Kevin Lansing, the paper stated that Norwegian property prices are currently 125 percent of the historic price-to-income ratio and around 170 percent of the historic price-to-rent ratio — a full 50 percent above their last major peak 20 years ago.


Neil Mellor from BNY Mellon said that Norway’s central bank, has neglected its housing market’s indomitable price rise by focusing on a monetary policy of low and stable inflation.


Though the Norwegian Central Bank has warned about long-term risks to the economy from rising housing prices, it has kept interest rates steady at 1.5 percent and suggested that it will keep them at these levels until Spring 2013.


It declined to comment on the housing market.
 

Full text at CNBC


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