3 ms·
Its tricky to compare debt between countries since it works differently. In Sweden you can't 'walk away' from your mortgage like in the US for example. This me
by cotillion 6y ago
Its tricky to compare debt between countries since it works differently.
In Sweden you can't 'walk away' from your mortgage like in the US for example. This means its much safer for the bank to lend money and that interest rates are very low. Swedish mortgage default rates are very low.
- em500 6y agoA bit more precise: non-recourse ('walk-away') mortgages are only the norm in 11 or 12 states in the US: https://en.wikipedia.org/wiki/Nonrecourse_debt#Footnotes https://en.wikipedia.org/wiki/Nonrecourse_debt#Footnotes footnote 3,4