Pursuits
Housing ‘Shell Shock’ Faces Danes Who Think Market Can Only Rise
Pedestrians pass along a street lined with commercial and residential buildings in central Copenhagen, Denmark, on Thursday, Aug. 22, 2013. Danes, the world's most indebted people, have hesitated to spend after house prices plunged about 20 percent since their 2007 peak.
Photographer: Freya Ingrid Morales/BloombergThis article is for subscribers only.
Denmark’s biggest mortgage bank is urging homeowners to remember that a seemingly unstoppable series of price gains can end, and even go into reverse.
At Nykredit, chief analyst Mira Lie Nielsen says Danes need to start putting the possibility of housing price declines “on their radars” or risk going into “shell shock when it happens.”