What broke Sweden? Real estate bust exposes big divide
Sweden’s economy is expected to contract in 2023. Inflation, interest rate hikes and a slumping currency have triggered Europe’s worst house price collapse and a drop in household consumption.
By Anton Wilen and Chris Reiter / Bloomberg
A half-finished bridge designed to connect two Stockholm neighborhoods has come to epitomize the seismic change Sweden is going through. On one side, an affluent neighborhood that’s part of one of Stockholm’s oldest suburbs, on the other, an enclave of 1970s-era public housing blocks with a dense population of migrants and a reputation as a trouble spot.
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