Sunday, Dec 09, 2012

Preview of Panorama ~ due this week

Independent: Homeless banker hits rock bottom

"Britain's Hidden Housing Crisis", to be broadcast on BBC1 this week (Thursday 9.00pm). "Almost 150,000 homes have been repossessed since 2009, and more than 51,000 households are living in temporary homes".

Posted by alan @ 01:32 PM (1644 views) Add Comment


1. vinrouge said...

......After a stint at a hostel that was "a mad house", where someone angered by his snoring threatened to slit his throat.

Luckily for him he hadn't told them he was an investment banker, or they may have done more than threatened.

Sunday, December 9, 2012 09:06PM Report Comment

2. drewster said...

Losing your home is no fun, but this lot haven't done themselves any favours.

The bus driver had a council flat (i.e. much cheaper rent than anyone in the private rental sector) yet still managed to fall behind on his payments. Councils are generally quite lenient towards arrears, and I expect they would have made several attempts to come to some kind of arrangement. I remember once panicking because I'd forgotten to pay the council tax bill; I rang the council and the man at the other end told me "oh it's ok, some of our 'clients' have rent arrears of five grand or more". (I'll reserve full judgement until I see the programme of course. There might be more valid reasons.)

The 52 year old with cancer: "She fell behind with the mortgage on her house in Dagenham, Essex, after her husband left her three years ago." She should have downsized as soon as she realised she would fall behind on the mortgage. At the age of 52 she should have had plenty of equity in the house, it would have been straightforward even if house prices had fallen a bit (Dagenham is down 12% over the last 5 years according to Zoopla - House Prices in Dagenham).

The Storey family had a £500,000 home in a mystery place called "Redbridge, Surrey" - although Google has certainly never heard of it. They bought it ten years ago when it would have cost more like £300,000, and they've been paying off the mortgage (unless they were on interest-only) so they should have over £250,000 of equity. Presumably some of the equity was used as security for a business loan, but I still don't see how they could have lost everything. Again there must be more to this story.

So yes I have some human sympathy, but let's face it thousands of renters are forced out of their homes every year when their landlords raise the rent or decide to sell or because of changes to their circumstances. But no, the media only show sympathy for "owners" (people renting from the bank), there's never sympathy for people renting from landlords.

Sunday, December 9, 2012 10:45PM Report Comment

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