Europe's Frothiest Housing Market Is Making Politicians Nervous [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
There's consensus in parliament that a 30% reduction on mortgage-interest costs should be phased out, a move backed by both the central bank and the country's financial regulator. But the two ruling parties in Sweden's teetering minority coalition are split over the urgency of carrying it out. How and when to watch the Tokyo Olympics: Week One Advertisement Advertisement Article content The housing rally there mirrors property booms from Canada to New Zealand, and was ranked by Bloomberg Economics in the past month as Europe's bubbliest. Such dynamics are pushing some monetary authorities toward raising interest rates, but the Riksbank's reluctance to do so as it focuses on its inflation target is shifting focus to other options. Sweden stands out alongside the U.S. as one of the countries still to allow mortgage-interest deductions, in what is essentially a middle-class tax incentive for home ownership. Tweaking such policies can be precarious, as witnessed in the U.K.,
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