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Notes -
How's the housing market in your neck of woods?
There's hardly a week in Finland without stories in the news about the extremely sluggish state of housing market, which we've been familiar with due to reasons of selling our three-bedroom apartment to buy a four-bedroom one. We got lucky and managed to sell after only 2-3 months on the market due to my extensive friends list containing a guy looking for a new place matching our specs with his roommate, but we had to accept a lower price than planned (still sufficient to allow for a mortgage to buy a new one) and I've heard stories of friends-of-friends who have been selling for over an year with no catch.
Obviously a large part of this is due to interest hikes and the cost-of-living crisis making people extremely careful about large life decisions like this, plus housing prices being sticky and not falling fast enough to get the market working again, but I've wondered whether it's quite as bad everywhere else. There have been several decisions in the past years that might contribute (running down mortgage rate deductions, increasing loan collateral requirements etc.).
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