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OSLO, Nov 29 (Reuters) - Norway’s household debt burden and still-high housing prices make the economy vulnerable in the case of an economic downturn, the country’s Financial Supervisory Authority (FSA) said on Wednesday.
“The likely trend in the housing market ahead is uncertain. After a long period of steep house price growth, the possibility that we are entering a prolonged period of falling house prices cannot be ruled out,” the agency said in a statement.
“However, improved growth prospects and continued low interest rates could rekindle house prices,” it added. (Reporting by Camilla Knudsen, writing by Terje Solsvik, editing by Gwladys Fouche)