Using the regulatory environment as a proxy for housing prices is a very noisy signal. Of the Scandinavian countries, three are relatively flat; the other, Norw

Using the regulatory environment as a proxy for housing prices is a very noisy signal. Of the Scandinavian countries, three are relatively flat; the other, Norway, has the third highest median income at PPP in the world (after UAE/.ch) thanks to its oil reserves. All have very low population densities by European standards. These factors should improve housing affordability in any regulatory environment.