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Norwegian Somalis stopped from owning homes by interest rates

housingHousing.Photo: Terje Pedersen / NTB scanpix

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Only 11.8% of Norwegian Somalis own their own home a survey showed.

Many fear negative results if they take mortgage loans with interest.

87% think it would “have negative consequences for those left alive
after their death,” and 56% believe that taking loans with interest could lead to unforeseen results.

Almost half, 48.2% said they are afraid of negative reactions from others if they take home loans with interest the survey showed.

It was taken among 483 respondents, mostly Norwegian Somalis in Oslo. The survey was supported by Husbanken and carried out in the Bydel Gamle Oslo district wrote Klassekampen newspaper.

Very few take ordinary mortgages. If interest-free loans had been available, 95% would have taken advantage of them the survey showed.

About half experience the housing situation as unsafe or very unsafe, and almost half say they have moved three to ten times over the past ten years. One out of five stated that they have moved ten times over the past ten years.

© NTB Scanpix / #Norway Today

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1 Comment on "Norwegian Somalis stopped from owning homes by interest rates"

  1. Berhane Haile | 23. May 2019 at 16:46 |

    This is simply being naive. Any person pays rent of the house he lives in; in such a situation instead of paying rent endlessly it is much profitable to buy a house and own it after some years. Paying rent as Norwegians say is throwing cash through the window.

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