The two largest assets on the balance sheet in the Swedish households are stocks and houses. The country's wealth and general economy are greatly affected by changes in the two markets. This paper investigates the relationship between the stock- and housing market in Sweden under the time period 1987 to 2019. To investigate the correlation, a bivariate correlation matrix was used and to investigate the causality of the two assets, the Granger causality test based on a vector autoregressive model (VAR) was applied. The causality test is performed both with and without control variables like GDP and interest rate. We will be dived the full time series into different subsamples, where focus is on two periods that includes a recession and two periods that include an economic boom. It is important to analyze how causality is during different business cycles to get a better understanding about the causality between the two markets. The conclusion that there is a large and positive relationship between the two assets could be drawn after the analysis of the bivariate correlation matrix. Overall, the causality test shows that there is unidirectional causality from the stock market to the housing market during an economic boom but not during a recession.