In Sweden, people definitely buy houses/apartments on speculation. People don't think about it like that though, they think "prices will continue to rise foreve

In Sweden, people definitely buy houses/apartments on speculation. People don't think about it like that though, they think "prices will continue to rise forever, so I need to get into the housing market as soon as possible so I don't miss out on getting wealthy." This has made the Swedes the second most indebted people in the world. If rates here where to go up with, say, 2 percent units then it would be a blood bath.