Issuer Presentation - Nykredit
Issuer Presentation - Nykredit
Issuer Presentation - Nykredit
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Equity squeezed but inventory set to decline<br />
� Substantial price declines in 2011 have<br />
put homeowners’ equity under<br />
renewed pressure<br />
� However, housing equity still above<br />
100% of households’ disposable<br />
income<br />
� Consumer confidence is low due to the<br />
European debt crisis<br />
� Consumer confidence weighs down on<br />
the confidence in the housing market<br />
300<br />
250<br />
200<br />
150<br />
100<br />
50<br />
0<br />
Net figures<br />
20<br />
<strong>Nykredit</strong> house price confidence<br />
10<br />
0<br />
-10<br />
-20<br />
-30<br />
-40<br />
% of disp. income % of disp. income<br />
Housing wealth<br />
Housing debt<br />
Home equity<br />
1981 1986 1991 1996 2001 2006 2011<br />
Consumer confidence (rhs)<br />
2008 2009 2010 2011 2012<br />
Net figures<br />
180<br />
160<br />
140<br />
120<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
10<br />
5<br />
0<br />
-5<br />
-10<br />
-15<br />
-20<br />
20
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