Mortgages for dead Swedes. Entire life is on credit, and the human longevity is not enough to repay it

Mortgages for dead Swedes. Entire life is on credit, and the human longevity is not enough to repay it

Central Bank of Sweden issued a disappointing forecast: most Swedes will die before repaying a mortgage, according to ee24.com citing thelocal.se.

When comparing income of people with their mortgage payments for 2010-2013, it turned out that debt is growing for 25% of the borrowers, it stays unchanged for 15%, and the remaining 60% are repaying their loans, but very slowly.

Real estate in Sweden is among the most expensive in Europe, so that the residents of this kingdom have to borrow large sums of money in order to acquire housing. According to statistics, they get a mortgage in the amount of 3.7 times of their annual income. Mortgage is about 95% of all debts of Swedes.