Finansinspektionen recommends that the banks allow homeowners to reduce or pause the repayments during a period if they suffer a loss of income as a result of the corona epidemic.
It is most likely that the housing market will be affected by the night-black situation on the stock exchange. But what will happen is largely just guesses at the moment.
- New homeowners sitting with large mortgages can be worried if they become unemployed or if housing prices go down significantly. For others, it looks different. On average, the loan is 60 percent and housing prices can fall very much before the value falls below the debt, says state mortgage company SBAB's chief economist Robert Boije.
If unemployment rises sharply, it will have an impact on the housing market.
- If we go into a recession with a sharp rise in unemployment, it will also appear in the housing market, says Robert Boije. He also points out that the easing of the repayments that the Swedish Financial Supervisory Authority now advocates would reduce the problem for new high-debt home buyers.
"Worse for those who have just moved into expensive new rental apartments"Hans Lind, professor of real estate economics at KTH, believes that the coronas center will in the first instance reduce the turnover in the condominium market.
- Those who have thought of selling are expecting rather than going down in price, especially when the extent of the downturn is difficult to assess.
Will we see a price crash on condominiums?
- As long as the current owners can wait to sell, there will be no price crash and my assessment that most people can wait. We clearly saw this in 2008-2009 where it was precisely the turnover that appeared and not the prices, says Hans Lind and continues:
- If households can postpone the repayments, the low interest rates mean that it is cheap to own their home. It will be worse for those who have just moved into expensive new rental properties which may also have quite limited alternatives.