Norwegian house prices fall

To euro-ize that report…figures rounded to nearest round figure.

€1 = 8.10 NOK
1 NOK = €0.12

Housing prices fall againNorway’s hot real estate market has definitely cooled off, and suddenly the sales that do occur are often at prices below appraisal. Real estates firms aren’t seeing as many prospective buyers at their open houses lately.

New figures released Monday by research firm Econ showed a 1.1 percent decline in average prices from October to November. The figures were compiled for industry groups including the Norwegian real estate brokers’ association (Norges Eiendomsmeglerforbund, NEF).

That continued a trend that first started last summer, when monthly sales figures began a slow decline.

It means that a home appraised at €185,000 last summer would probably sell today for €5,900 less. A home appraised at €617,000 in June, would today likely sell for €598,000.

On the plus side, Norway has appx 10 billion barrels of oil under its continental shelf. at $100 a barrel, thats $1,000,000,000,000 (a trillion dollars).

And with a population of 4.5m, I think its fair to say, Norway really IS different.

Interesting little bit of trivia.
Even with all this oil, most of this country is largely served by hydro electric power.

Isn’t that America’s oil? Like the stuff under Iraq?

No not really. The norwegians are a people who dont get pushed around and who dont need anyone elses help to pump their oil and gas.

I hear is Norway is full of Tall, White, Blond people.
Fits the terrorist profile exactly !

What are America waiting for ?

You will see from the above website that there is loads of activity around the British Isles but only a trifle around Ireland. Irish politicians limits are clearly visible now: “Bricks and Mortar” via Tribunals. The Norwegians access to €1trillion of Gas reserves is more than matched by the over €2trillion of External Debt that the Irish people have amassed under all Paddy the Builder’s Politicians, with not a cry of foul from opposition benches.

Now, Paddy the Politician is off trying to get a big share of Exploration Acreage around Rockall. God help us, if they are asked what their record is in taking up the oil and gas around the island of Ireland - they will not have a Assess Roar in Hell chance of negotiating successfully. Ah well, they will at least then be able to give their full attention to disbanding the tribunals.

And we gave Corrib to Statoil…

No wonder we are playing Norway in a friendly this year, maybe if we give them a nice comfortable win, they’ll take some pity on our energy situation… :smiley:

They are prone to banking crisis as well

That would have been post the 1986 oil shock !