Risk Outlook - June 2019
High debt levels and high property prices pose a significant risk to economic and financial stability in Norway. The rise in household debt has for several years outstripped income growth, resulting in a higher than ever debt burden, as measured by the ratio of debt to disposable income. The debt levels of Norwegian non-financial firms, measured as a share of GDP, are also at a historically high level. Prices of residential and commercial properties have risen steeply for several years, especially in the Oslo region.