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they also have generous social protections that allow them to handle the associated risk.

easy to take on a lil more debt if you know you have healthcare and employment protections.

If so South Korea, Portugal, and Canada wouldn't have Nordic level household debt rates despite have significantly less permissive (and in SK's case functionally non-existent) social safety nets compared to Nordics.

Swedish 5y mortgage rates are at about 3.1%. US is at twice that.

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