Sweden’s Free-Falling Property Market Triggers Worst Economic Slump in EU

(Bloomberg) — Soaring inflation and rising borrowing costs have sent housing prices on a steep downward trajectory across the world, but one of the places where this trend is playing out the fastest is Sweden. After a decades-long property boom fueled by cheap credit, a shortage of housing and interest-only mortgages, the Nordic region’s largest economy is now in the midst of a sharp housing market contraction that threatens to deep…