Johan and Alejandra are the kind of Swedes the IMF has been warning about - piling up debt to keep up with an ever-rising property market and fund a lifestyle of travel, maids and nights out.
The couple plan to buy a flat in Stockholm for 5 to 6 million Swedish crowns ($724,000 to $869,000), initially with an interest-only bank loan, among other spending plans.
"I may travel, I may want to invest in a new business," said Alejandra, who runs a cafe in the city centre.
Less than a month away from a general election, there are no votes in campaigning to stop the credit flowing, but there are fears that such Swedes could be the Achilles heel of a country that boasts a coveted AAA score from credit rating agencies Fitch and S&P.
Four in 10 mortgage borrowers in Sweden are not paying off their debt, and those that are repaying the principal do so at a rate that would on average take nearly a century.
Swedish property prices have nearly tripled in just two decades. In July, home prices rose at a double-digit pace from a year ago - the first time in more than four years.
The IMF has warned financial instability in Sweden is an increasing concern and urged a comprehensive set of macroprudential measures to temper soaring mortgage debt. Nobel Prize laureate and economist Paul Krugman has chimed in, saying
Sweden probably has a significant housing bubble.
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With Sweden's household debt-to-income ratio above 170 percent - among the highest in Europe and rising - the issue is worrying Riksbank policymakers. Out of fear of spurring more borrowing, the central bank has kept interest rates higher than warranted by inflation, but they are nevertheless at historic lows.
The main concern is that private consumption - which makes up nearly half of Swedish GDP - would suffer if rates rose or property prices fell, which could spell problems for the lenders and the economy, which is only just finding its feet.
Feeling the heat
May and Philip, who have just bought the house of their dreams in a northern Stockholm suburb - a place where they can sail in the summer and ski in the winter - are already feeling the heat.
With borrowing costs at historic lows - the couple pays about 2 percent - they can make ends meet. It's the future that worries them.
"We can't afford a 5 percent interest rate with amortization (principal repayment) on our salaries," said May. "At 8 percent, if the bank doesn't give us a break from making payments on the principal, we'll lose our house."
Sweden knows all too well the damage that a property bubble can wreak when it bursts.
Financial deregulation in the 1980s led to a boom in commercial property that crashed in 1992. Commercial properties lost nearly two-thirds of their value and Sweden had to nationalize two of its banks.
The country was in recession for three years and had to implement a tough austerity programme to turn around a massive budget deficit.
Economists are urging pre-emptive measures like property takes and a cut in tax deductions, but it's a delicate topic ahead of the Sept. 14 elections.
"I'm an economist - I love the property tax," said Magdalena Andersson of the poll-topping Social Democrats, who is widely tipped to be Sweden's next finance minister. "But the Swedish people hate it and don't want to pay it, so let them pay other taxes," she told Reuters in an interview.
Swedish property taxes as a percentage of GDP are at the low end for OECD countries, and only one-third that of the United States.
Politicians are also sidestepping suggestions to scale back interest rate deductions on mortgages, though most agree it would be highly effective in cooling prices.
"Neither side wants a discussion about property taxes nor interest rate deductions in a pre-election campaign - it's politically unpopular," said John Hassler, Professor of
Economics at Stockholm University's Institute for International Economic Studies, who had both Andersson and Sweden's current finance minister as his PhD students.