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Norway's Housing Bubble Makes Ours Look Almost Cute By Comparison
|Last Edited||RP Jun 28, 2012 03:04pm|
|News Date||Tuesday, June 26, 2012 11:25:00 PM UTC0:0|
Norway has actually has had two housing bubbles the past two decades. The first looks relatively puny, but that's only because the second has been so mammoth. Norway's late-1980s bubble saw prices double in the span of a few years -- roughly the same size as our own burst bubble. But that looks downright Lilliputian compared to what's happened in Norway the past 15 years: Housing has quadrupled. And that's after inflation.