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Norway Has Decided to Stop Buying So Much Real Estate

"Times are uncertain," says Karsten Kallevig, the head of real estate investment at Norway's sovereign wealth fund, explaining the decision to stop buying up real estate at the pace that the fund has maintained for the past few years. Since 2011, $23 billion of the $820 billion fund, built from the country's oil windfall, has been spent on properties. But now, "we've had returns that we absolutely can't expect over time," according to Kallevig, who is expecting a price correction sooner rather than later.
· Norway's Oil Fund Is Finding it Hard to Spend $6 Billion [WSJ]