this post was submitted on 16 Oct 2024
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[โ€“] corsicanguppy@lemmy.ca 3 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

I have family in Sweden, and that doesn't sound like what they talk about. A modest salary - local gov worker or a teacher - seems to be enough for a modest 3bd detached house of a pricing similar to ours.

Where are you getting 100 years? Is that a thing outside Asia?

Edit: a modest salary EACH. Sorry.

[โ€“] Lowpast@lemmy.world 4 points 2 weeks ago* (last edited 2 weeks ago)

2016 - 40% of mortgage borrowers are not paying their debt down. Those that are paying principal are doing so at a rate it would take 100 years https://www.swedennews.net/news/225058369/sweden-facing-possible-property-bubble-warns-imf

2014 - Sweden to limit max mortgage to 105 years after average repayment is 140 https://www.telegraph.co.uk/money/property/mortgages/sweden-cuts-maximum-mortgage-term-to-105-years-the-average-is-14/

2024 - Countrys household debt to income reaches 180% (down from 199% in 2022) https://www.nordea.com/en/news/household-debt-burden-on-the-decline-in-sweden