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No Crash for Norwegian Home Prices?

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Tags Booms and Busts

01/06/2014

I have written about the housing bubble in Norway here, here, and here. Reuters reports that housing prices in Norway are finally expected to fall in 2014, but not by much. Their report indicates little chance of a big crash.

"It's highly unlikely that we'll see a big drop in housing prices in 2014," Dryer said. "In the first quarter we should see some growth in prices but we expect it to be more moderate than in previous years."

I think it is safe to say that this bird had been flown before. Is it the case that every time a bubble is finally recognized that the next report is that prices will only fall a little, but not crash?

Mark Thornton is a Senior Fellow at the Mises Institute and the book review editor of the Quarterly Journal of Austrian Economics. He has authored seven books and is a frequent guest on national radio shows.

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