In summary, Mari Sundgot Saunes and her family are struggling to sell their home in Fosnavåg, despite the fact that it is attractive with three bedrooms and close to the city centre, mountains, sea and kindergarten. There are large regional differences in how easy it is to sell housing, with high demand in the cities and lower demand in the rural areas. This means that people in the districts become less mobile, and can become “fixed” if they cannot sell their home without losing money. There is a greater risk when buying a home in the rural areas than in the cities, especially if you plan to move in the future. Saunes and her roommate are now considering going down even more in price in order to be able to move to Ulsteinvik, and have already dropped NOK 150,000. The couple have also considered renting out, but with today’s interest costs it will not cover the expenses they have on the loan. The summary is made by an AI service from OpenAI. The content is quality assured by news’s journalists before publication. – As it is now with high interest rates, it is best to sell before we buy anything new, says Mari Sundgot Saunes. She lives in a four-person house in Fosnavåg in Sunnmøre with roommate Lars Erik Bøe and their three-year-old son. Now the family wants to move to Ulsteinvik, half an hour away, where she works and comes from. But it has turned out to be difficult. Nobody wants to buy their house. – The house has three bedrooms, is close to the city centre, mountains, sea and kindergarten, so one would think it was attractive to many different people. But it doesn’t look like that right now anyway, says Saunes. Mari Sundgot Saunes is pictured here in her home village of Ulsteinvik, where she and her family want to move to buy a detached house, but first they have to sell the house in Fosnavåg, 30 minutes away. Photo: Arne Flatin / news Bufast Chief Economist Nejra Macic at the Prognosesenteret says that it is nothing new that there are large regional differences in how easy it is to sell your home. In the big cities and in the surrounding area, there is usually a fight to be allowed to buy the houses, while it is the opposite in many places in the districts. – It is simply demand that is lower than the supply side, which explains why it can take some time to sell your home, she says. This also means that people in the districts become less mobile. Chief economist Nejra Macic (31) in the Forecast Centre. Photo: Kilian Munch / Prognosesenteret AS – A couple of years ago a new word appeared. Bufast. It was after the oil price fell and unemployment rose quite a lot in the south-west, especially in Stavanger, explains Macic. This led to housing prices falling and people could not sell without losing money. Many people then chose to stay, even if they had originally intended to move. – It may happen elsewhere in the country again. People wait and wait until they get the price they think they deserve. This can hinder mobility in the labor market. – Vanskeleg Rolf Røtnes is specialist director of Socio-Economic Analysis, and he also states that there is a greater risk in buying a home in the rural areas than in the big cities – if you ever move. – You may buy your first home, then upgrade a bit or move. Then you have to carry equity further into the housing career, he says. The problem arises when you live in an area where house prices do not grow as much as in other places. – Then you are much more vulnerable to the ones you choose. There is a kind of lock-in effect we get here. It is more difficult to move in the housing market if you live in a district with relatively low price trends. Rolf Røtnes is specialist director in Social Economic Analysis, and project manager for the report “Access to housing in the districts and recruitment of labour” from 2020. Photo: Samfunnseconomics Analyze AS Losing money In Fosnavåg, Mari Sundgot Saunes and Lars Erik Bøe are now considering going even further down prize for being able to realize the dream of moving to Ulsteinvik. They have lost NOK 150,000 in total. – The way it is now, when expenses for mediation and such have been paid, we will sell the property at a loss at this price, says Mari Sundgot Saunes. Mari Sundgot Saunes and Lars Erik Bøe have not given up hope of being able to sell the four-person house and buy a detached house in Ulsteinvik. Photo: Arne Flatin / news The couple have also considered renting out, but with today’s interest costs it will not cover the expenses they have on the loan. Thus, they will lose money on that too. – It’s a bit bitter to see that everything goes on the first viewing and far overpriced elsewhere, she says. Published 16.09.2024, at 10.30 Updated 16.09.2024, at 10.37
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Can’t sell the flat: – It’s a bit bitter
