Housing crisis hits Sweden

Stockholm,

Housing crisis in Sweden are becoming more serious then ever. Sweden has dropped to the 2nd highest paying tax country; because of this financial crisis, housing rates have continued to drop and construction of new cites are slower than ever. His has taken a major toll on mainly apartment and comlex owners.
According to Sweden's National Board of Housing the number of new appartments and complexs will drop 40 percent from that of 2006; this is due to the increase of construction costs and the loss of state sponsorers. The Global Economy is taking a huge toll on Sweden, they are facing an economic slow down due to the high tax rates and loss of jobs. Banks are working to cut rates in hopes to get the economy started back on track, and in hopes that the housing stock will take a turn by 2012.

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