Thursday, Oct 11, 2007
Feel the pain
The Telegraph: This economic crisis is bound to hurt
The number of repossessions is rising rapidly; this will accelerate even further in the coming months. Many of the biggest losers will be poorer families and first-time buyers, who have taken out unaffordable mortgages to get on the property ladder.
Some people will do well out of the situation, buying property at a knock-down price; others are already tightening their belts and stopping spending so much on their credit cards. For there's no guarantee that the economy won't slow by far more than the Chancellor has predicted.
Ouuuchhhhh !
Posted by onyerhike @ 08:08 AM (305 views) Add Comment
1 Comment
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1. David Smith's Sub Prime. . . said...
From the article (a small business):
"...We wont bother doing food, since it would mean employing someone. No one in their right mind is going to provide work, and have all the worry and cost, which now goes with employing people. The workers can have loads of holidays, courtesy of the Government, but those with the worry of finding the work and paying them, and their taxes, in general don't. We would even have to pay if they injure themselves at work and need treatment, and yet anyone can walk into our Country and get treatment without paying....;"
Anyone feel the same?
What is going to be the topic of your dinner party. Oh my house fell only 2% this month...