Maria Landeborn believes that the interest rate increase will have a dampening effect on the housing market.
- Then I am not convinced that prices will fall.
But this will dampen the rise and we will see more stable prices and maybe some months when prices fall a bit.
That the interest rate is rising and the knowledge that more interest rate increases will come, I think can make people more cautious.
Cecilia Hermansson, a researcher at KTH, also believes that the strong price increases we have seen in recent years will be broken now.
- If prices can fall a bit or if there will be a flattening, it is difficult to say.
We have a strong labor market, but households receive negative real wages because inflation is so high.
"Favorable with lower prices"
The psychological aspect will also come into play, Hermansson believes.
- Even higher interest rates are expected and the Riksbank flags that they will rise.
It can be twice as high interest costs as you have had.
For those who are already in the housing market, it can affect their willingness to buy something bigger.
- For those who go in, it can be more favorable with lower prices, but on the other hand, most people have to take out a loan and it is more expensive.
That housing prices would fall very sharply is not something that the new interest rate announcement is supposed to contribute to, Cecilia Hermansson believes.
- What affects then is if we get a clear deterioration in the labor market, people lose jobs and it is difficult to find new jobs.
This would lead to a larger price drop.
For those who are not in the housing market today, how should one think?
- I would still see the home purchase as not just an investment but that it is also about how I want my life.
It is difficult to time it right, says Cecilia Hermansson.
Maria Landeborn believes that a buyer may have some ice in his stomach.
-
Even if prices do not go down, I have a hard time seeing them continue to rise.
In the best of worlds, for those outside the market, prices fall slightly.
You may have the opportunity to bargain a little.
I do not think you need to be in a hurry.
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How does the repo rate really work?
The savings economist Joakim Bornold sorts out question marks in the interest rate jungle.
Photo: SVT & TT