Tuesday, Apr 06, 2010
More pent up supply
Introducer Today: Repossession crisis looms
"Homeowners should heed warning signs of the harsh fiscal environment looming on the horizon post-Election, according to the latest Property Portfolio Rescue (PPR) Distress Index. The firm said the number of distressed home sellers contacting PPR in Q1 2010 is more than double that of the pre-credit crunch years, as squeezed household incomes and the rocketing cost of living is causing households to default on mortgage repayments and credit card debts. Measures outlined in the March Budget, including the first time buyer stamp duty holiday and the small business growth package, have diverted attention from the more severe tax hikes and public spending cuts already in the pipeline, said PPR. The firm said repossessions will remain at record levels throughout 2010, with 50,000 forecast..."
5 Comments
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1. Crunchy said...
The circus juggler is only keeping an 'eye' on one ball.
The Ringmaster looks on in panic mode. Success or failier to the crowd is just personal perception.
However, when you are observing from a box seat the outcome is of no suprise. That's why they are the Top Dogs.
2. dead spider said...
"The firm said the number of distressed home sellers contacting PPR in Q1 2010 is more than double that of the pre-credit crunch years"
This is totally logical as PPR didn't exist before 2009 as it was incorporated , per Companies House , on 21/01/2009 .
3. mark wadsworth said...
DS, sure, the company is probably just some equity release vulture company or something, that's clear from the article, I just liked the headline really.
4. amjidk said...
i think they are right about the looming crisis...
5. smugdog said...
Well, I disagree; I think they are wrong about the looming crisis.
I see plenty of positive signs around me.
The monied have kept their wealth and are more than enjoying life.
The idle, feckless and stupid may just have to swallow the bitter pill.
Where do HPC's fit in, well STRers may just be stuck on Stupid Street
for ever and a day.