Saturday, Aug 16, 2008
But I thought house prices were going to go up!!
Daily Express - The World's Greatest etc: NUMBER OF PEOPLE LOSING HOMES SOARS
''...REPOSSESSION demands are soaring as home owners fail to pay their loans, figures show. The number at risk of losing their homes has risen by nearly a quarter in the past year. A total of 28,658 mortgage possession orders were made in England and Wales from April to June, up four per cent on the previous quarter – and 24 per cent more than for the second quarter of last year, said the Ministry of Justice...''
Posted by hpwatcher @ 08:25 AM (1103 views) Add Comment
9 Comments
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1. mark wadsworth said...
That's the genius of The Express - you can explain repossessions purely in terms of rising interest rates and heartless banks. Falling prices is not actually the major concern to some Hard Working Family being repossessed.
2. angonamo said...
I maybe wrong, but .... didn't the CML state thast repossessions would total 70,000 this year ? I make the number of repo's so far around 56,000.
3. taffee said...
at the end of 1987,1 year into the housing slump,repos hit 14,000....they peaked 3 years later in 1992 at 72,000
we are getting close to 1992 levels in jusy 6 months
4. titaniccaptain said...
Spot on Taffee
5. taffee said...
1987 should read 1989
6. nooneo said...
It is interesting that the 2 comments (as of 11.03am) posted could've been written by people from here !
7. sold out said...
If we had 14,000 in 89,and we have 70,000(estimated) this year thats an increase of x 5.
if we had 72,000 in 92 then we are likely to have 360,000 repo's in 2011.
Has anyone noticed when vi's try to put a positive spin on repo numbers they always compare 2008 with 1992, because that suits their agenda.To get a truer picture they should be comparing 08 with 89.
8. hpwatcher said...
It is interesting that the 2 comments (as of 11.03am) posted could've been written by people from here !
probably were!
9. montesquieu said...
Why do we even discuss the Express here? it's every bit as much a comic fantasy world as its stablemates The Star and Hot Asian Babes - it's been on the downhill slope for years but since Richard Desmond took all credibility on any topic has completely vanished.