RIGA - The period between 1985-1995 saw rapid growth, and an ultimate bust, in Finnish and Swedish real estate prices, as well as aggressive lending spurred by the newly deregulated credit market. Unfortunately, this real estate rollercoaster caused considerable problems for both countries' economies for years after. With the Baltic housing market on fire - average prices have risen 10 percent per year for the last five years - and the majority of banks operating with a large amount of unregulated foreign capital, it begs the question: Are the Baltic states headed for a Swedish style bust? ...
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