Tuesday, May 05, 2009
Housing market problems "far worse than the 90's"
Mortgagestrategy: Moore Blatch warns of repossession crisis
Repossessions expert, Moore Blatch is warning that the predictions for repossessions orders and distressed sales could be far worse than those in the 1990’s. It believes the extent of the problem could be far worse than the 90’s as repossessions and distressed sales were already in their thousands prior to the recession kicking in. Furthermore it says in just looking at repossessions the real picture is much reduced as the sale and rent back sector barely existed in the 90’s, but already accounts for well over 50,000 distressed sales according to the OFT.
Posted by jack c @ 03:48 PM (543 views) Add Comment
1 Comment
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1. crunchy said...
Agreed!
The 90's blip was a southern thing. The whole country was not really effected so much due to mortgages still being affordable in the UK.
Now is another story altogether. The 90's really was a blip, which will become apparent in time.
No I don't sit on the fence! lol