Pursuits
Sweden's `Distressing' Housing Market Triggers Bank Warnings
- SEB reassures investors it's the least exposed to real estate
- SBAB CEO says soaring house prices pose risks for customers
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The chief executive officer of Sweden’s state mortgage lender says developments in the country’s housing market are now “highly distressing” as prices continue to rise at a pace he warns is unsustainable.
“Soaring housing prices increase the risk level for our customers, for us as a company and for the economy and society at large,” Klas Danielsson, SBAB CEO, said in the lender’s third-quarter report on Thursday. “This trend is not sustainable in the long term.”