Wednesday, March 17, 2010

A new record

House prices in Sweden reached a new record with the average house now costing SEK 2 million ($282 000).

And this during a time of high unemployment and within a recession (in reality a depression). Companies have been doing pretty badly and the world is still in a shaky condition. Country after country is closing in on default and there are still wars raging in oil producing countries.

Still there are those that claim that we don’t have a housing bubble…

Can you say ‘clueless’?

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