The Effects of the Pandemic on Housing Prices

Canada, Australia and Sweden have all seen prices more than doubled since 2007 while America in the same time period has seen property price growth of just 61%. The UK which we will come to shortly is even less than that. There are other factors at play as well though and the way that different countries operate their mortgage market is another important factor. In the US it's common to get mortgages that are fixed for 30 years so if mortgage rates then go up after you've bought meh who cares doesn't make much of a difference. In Sweden most mortgages are variable from the start so as soon as interest rates go up everyone's housing costs go up. Denmark, Australia, Canada, Sweden all have