Norway is after all America's wagging tail, and despite our better starting condition this time, the financial crisis is running the same course, only delayes by somewhere around 18 months. This is largely the same for booms and busts. Norwegians are still in denial, unlike our American cousins, but banks now report that more and more customers use credit cards to pay the mortgages on their homes. This is a perfectly reasonable thing to do if your cheque is in your mail or your rich parents already died but you haven't got the inheritance yet. Otherwise, it is a nice short trip to losing your home. A much wiser decision would be to contact the bank first and ask about a slower payback schedule. Banks generally prefer this over having to sell the house in a falling market. Optimists still see the housing market as stagnant rather than falling, and argue that everything is different here. But the prices are still edging down. When the foreclosures begin, the bottom will drop out of the market. It is only then that our central bank will lower the interest rates again.