Abstract: This paper will address a theoretical conceptualisation of one of the clearest symbols of the North’s wealth and picture on unsustainable economic growth: the second home. There is a lack of theoretical knowledge in relation to how to conceptualise a ‘sustainable development’ of second homes in a Norwegian context. Thus this paper will conceptualise sustainability of second home development and relate to important concepts such as; planning, what is a second home, multiple dwelling home society, structure/agency relationships, debt-financed spare-time activities, economic growth and social-ethical issues. The main argument throughout the paper is that a holistic theoretical approach to the second home phenomenon is needed in order to analyse the consequences of the current development of the Norwegian second home phenomenon against a concept of sustainability. In conclusion I will argue that such new theoretical approach will open the discussion and enable in-depth analysis of the main mechanisms that are relevant for planning in order to obtain a more sustainable development of second homes.