Friday, Jul 18, 2008
More debt taking over many more lives
Thisismoney: House price agony hits middle classes
It warns that on average almost £40,000, or more than £100 a day, will be wiped off the value of these homes this year.
A typical Middle Britain property will fall 18 per cent between January and December, says the insurance firm AXA and the Centre for Economics and Business Research.
Debt advice centres in its 'heartlands' have seen inquiries rise by up to 500%. Those on salaries as high as £70,000, nearly three times the national average, are seeking help.
Posted by debtfree @ 09:18 AM (322 views) Add Comment
2 Comments
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1. str 2007 said...
Well I don't know what part of middle Britain this article refers to but £216,000 for a house with an income of between 40 and 100k seems incredibly low.
In most reasonable areas of the South East 'where that kind of money is achievable' the cheapest family house must be starting with a 3 and most with a 4 or 5. Therefore do they have nice family houses for under 100k in the rest of the country ?
Further it's the cheaper houses that will fall the most as they include flats etc. which will get hit by about a 50% fall.
So to conclude - I don't believe this article.;
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