Ulltveit- Moe predicts fall in house prices – HegnarOnline

Ulltveit- Moe predicts fall in house prices – HegnarOnline

Jens Ulltveit-Moe predicts Norwegian house prices down 20 percent in total over the next two years, writes DN.

– I have a very particular view of the housing market. We have had a distinctively Norwegian housing bubble that is easy to understand, said the investor to the newspaper Annual Conference yesterday.

Ulltveit- Moe refers to a strong increase in income over the last ten years.

– The only thing that has historically had equally high increase was Greece before the crisis. We have had an extreme low interest rate. Low interest rates will continue. Real income will not continue. Housing prices must come down, he said.

The investor stresses faced DN that this will be a good development, because lower housing prices is to “benefit the groups that needed to be supported: the young people who will enter the market.”