One country, many housing markets
Putkuri, Hanna (09.06.2015)
JulkaisusarjaBank of Finland. Bulletin
JulkaisijaBank of Finland
Julkaisun pysyvä osoite onhttps://urn.fi/URN:NBN:fi:bof-201506101272
Regional divergence is a strong feature of the Finnish housing market and household debt. House prices are higher in growth centres than in the rest of the country, and households in growth centres also have more housing debt both in absolute terms and relative to their income. In the long term, the mutually reinforcing cycles and vulnerabilities in housing and credit markets could turn out to be detrimental to financial stability and the macroeconomy.