Tuesday, Aug 04, 2009
Some sort of DISTRESS INDEX: Q3 2009
Propertyportfoliorescue.com: UK DISTRESS INDEX: Q3 2009
"The forgotten mass market: working-class homeowners trapped in debt
“While our business primarily looks to assist sellers at the mid to top end of the market,
our latest Distress Index reflects continuing problems for the forgotten mass market of
working-class homeowners. These owners are trapped by a combination of surging
unemployment, reducing household incomes, growing negative equity and increasing
mortgage costs, with no chance of securing a competitive, new mortgage rate. At PPR, we
are continuing to experience a growing number of enquiries from homeowners at the
bottom end of the market, who are desperate to sell and have nowhere else to go."
Posted by doomwatch @ 09:52 AM (957 views) Add Comment
8 Comments
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1. p. doff said...
The 'Distress index' conjures up visions of Grant Bovey's latest venture 'Distressedpropertycompany.com' ?
2. wdbeast said...
Interesting, the leeches that leech leeches.
3. mr g said...
I actually find this article quite realistic.
At the end of the day it is Joe Public or Mr Average who buys the modest type of property that forms the bulk of the UK housing stock, not the head up their a*se types with a budget of £750K who appear on property programmes or City boys.
These are the people in ordinary jobs with middling incomes who will and are suffering as a result of the recession and this will continue to affect the housing market for many years to come.
4. quiet guy said...
It appears that this company has a motive to talk down property to scare financially pressed households into selling cheap. Of course, I'm bearish about property but where's the money here? As wdbeast says, these people are leeching off their customers.
5. little professor said...
Just another VI. Don't care what these vultures have to say.
6. dead spider said...
What i don't get is where they say in their graph "PPR Enquiries and Possessions" Index Q1 2007 = 100 .
How could they have any data from 2007 when PPR was only formed as a company on 21.01.2009 .
Up until then (and The Wriglesworth Consultancy touting for them all the time) I'd never heard of PPR or their graphs .
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