Tuesday, Oct 23, 2007
Official stats will soon confirm this.
BBC Wales: Repossessions rise 'set to go on'
House repossessions are their highest level for eight years and the rise is expected to continue, a BBC Wales investigation has found. Mick McAteer, a former policy adviser for Which? and who now heads a think-tank on financial inclusion, said he expects repossessions to be fuelled by a "perfect storm" of high property prices and rising mortgage costs.
Posted by alan @ 08:49 PM (640 views) Add Comment
6 Comments
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1. confused76 said...
Remember that:
PROPERTY VALUES
AND IMMIGRANT STATISTICS
AND THE OVERCROWDED ISLAND
AND DIVORCE RATES
ARE JUST OPINIONS,
WHILE
.... DEBT IS THE ONLY FACT THAT MATTERS !
2. confused76 said...
"We don't think we are going back to the circumstances that we saw for instance, in the early 1990s."
Ahahh ahhahh ahhah
uuuahh ahhahhah hahhahhh ha ha
uuuuuuuaahha hahhhhhha hhhha ahhahhahhhahhahhah
3. alan said...
Repossession stats are out early next month for Q3. They will confirm the "perfect storm".
I take no joy in reporting this mess, it's an unravelling catastrophe created by our elected politicians and bankers.
I thought this New Labour "Nanny State" was supposed to look out for people - it's actually made them temporarily happy while they sink in the quagmire of debt, debt and more debt.
Is Gordon afraid to tell the electorate about the debt mess? What would happen to his poll statistics if he did? Are poll stats all that matter? What about people?
4. David Smith's Sub Prime. . . said...
"There are huge numbers of sub-prime lenders in almost the majority of the listings... And there are companies there I've never heard of. They are popping up like mushrooms."
Nonsense!
There is no Sub Prime in the UK.
Love David Smith 13 and a quarter...
5. Sds said...
alam: where are the repossession stats posted
ie. do you have a web source?
6. Degsy said...
repos are more of a lagging indicator on house prices.Mortgage approvals would be a better forward indicator and they're heading south.There are punters at the minute who will take 3-6 months to realise they're not going to get the price from spring 2007.Wholesale markets still deep in the mire.All the investors who got lumbered with CDO's MBS's are hardly going to be rushing back for more.
have to agree alan,some nanny!!!!!stop you smoking,drinking,etc but lose you your home.