BUBBLE BURST? Swedish Home Prices Fall Dramatically


Photo: ulrich_berkner via flickr

Just last year the Economist was noting that Sweden’s housing market was dangerously overvalued, coming fourth in figures compiled by the British newspaper.Now, it looks like that bubble may have burst, with Radio Sweden reporting that house and home prices in the country dropped 11 per cent in the last month of 2011.

Next door, of course, things are not too rosy either. Last week Professor Robert Shiller warned that Norway’s housing market looks dangerous — “This really does look like a bubble,” he told business newspaper Dagens Næringsliv (via The Local).

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.