Thursday, Aug 06, 2009
Manufacturing Flourishing, House Prices Rising, Green Shoots
Mail: Mortgage defaulters 'could hit 400,000' by 2011 with 3.5m unemployed
"Up to 400,000 households could default on their mortgages, City experts have warned. Ed Stansfield of Capital Economics said arrears could exceed the peak of 350,000 in the early 1990s recession and housing crash".
Posted by alan @ 12:46 PM (453 views) Add Comment
2 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. stillthinking said...
The government is pumping borrowed money into the state sector and a great deal of that probably ends up as mortgage repayment, when government borrowing stops, so will those mortgage repayments. There is going to be a vicious second leg and our situation is made unnecessarily worse by delaying until the election.
2. alan_540 said...
Yes. The next ten months is going to seem like a very long time and will be very costly to us all... it's a pity the opposition can't force an early election somehow... but I can't see Stalin, oops, I mean Uncle Gordon, allowing that to happen.