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House Prices Are Up 70 Percent But Experts Don't Think There's a Bubble

Norway's Oil City As Housing Bubble Deflates

Photographer: Kristian Helgesen/Bloomberg

Updated on

Scandinavia’s red-hot property markets may be showing signs of cooling, but rumors of a bursting bubble are greatly exaggerated.

That’s the consensus among local economists, who point to strong fundamentals and persistently low interest rates as evidence that the downturn is a "healthy re-balancing" rather than a harbinger of an imminent collapse.