Sunday, Dec 14, 2008
What a different view from a few months ago!
Scotsman: Scots homeowners warned that few will escape negative equity next year
As the housing market north of the border continues to rack up double-digit declines, property experts say Scotland will almost certainly fall victim to widespread negative equity despite avoiding it during the last downturn in the early 1990s.
Posted by boombuster @ 08:23 PM (269 views) Add Comment
3 Comments
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1. Maureen said...
Oh dear and the Scottish Parliament are so worried they even seem feerful of releasing the quaterly house price statitics. See the link of the front page of the Registers of Scotland website.
The Scotsman was gagged years ago.
2. japanese uncle said...
"Ridiculous" lending such as 100%-plus mortgages in the run-up to the credit crunch is also being blamed.
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Laughable! Just 12 months ago, this newspaper was one of the biggest cheer leader of the housing bubble in Scotland, without mentioning a word about this criminal lending practice. Main stream media should and will go bust one after another quite like Chicago Tribune, as they do more harm than good to the public.
3. a saver said...
What JU says.
But what does the article mean, people got caught out by the speed and depth of the decline?
Scotland's slump has lagged England's by several months, so people had ample time to get out at the top of the market.
Those who didn't can blame the Scotsman for their shameless it's-different-up-here property-ramping.