mdj101 Posted January 22, 2009 Share Posted January 22, 2009 Repossesions up 92% on same last quater last year to 13,161 Quote Link to comment Share on other sites More sharing options...
deadman Posted January 22, 2009 Share Posted January 22, 2009 Gordon will do whatever it takes to stop this global phenomenon. Quote Link to comment Share on other sites More sharing options...
alabala Posted January 22, 2009 Share Posted January 22, 2009 link? Quote Link to comment Share on other sites More sharing options...
mbga9pgf Posted January 22, 2009 Share Posted January 22, 2009 link? http://news.sky.com/skynews/Home/Business/..._Authority_said Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted January 22, 2009 Share Posted January 22, 2009 Repossession because it's the right thing to do. Can't see Labour coming out with that. Quote Link to comment Share on other sites More sharing options...
bobthe~ Posted January 22, 2009 Share Posted January 22, 2009 annualised around 52600. Still short of the record 75000 under the irresponsible do nothing Tories. Anyone got a graph plotting repos to unemployment? Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted January 22, 2009 Share Posted January 22, 2009 annualised around 52600. Still short of the record 75000 under the irresponsible do nothing Tories. http://uk.youtube.com/watch?v=__VQX2Xn7tI Quote Link to comment Share on other sites More sharing options...
Icantbelieveitsnotbutter Posted January 22, 2009 Share Posted January 22, 2009 annualised around 52600. Still short of the record 75000 under the irresponsible do nothing Tories.Anyone got a graph plotting repos to unemployment? There's still time, unemployment has only just started to rise, and if the reflationary attempts work the higher (much higher?) interest rates will add some momentum. A dare say if the Tories had spent bucket loads to stop it the number would have been lower, but tax would have been higher and hte recovery probably slower. The trade off to telling banks they can't repossess is it makes the banks think twice about lending. It rewards fiscal imprudence at the expense of the fiscally responsible. Quote Link to comment Share on other sites More sharing options...
bobthe~ Posted January 22, 2009 Share Posted January 22, 2009 There's still time, unemployment has only just started to rise, and if the reflationary attempts work the higher (much higher?) interest rates will add some momentum. A dare say if the Tories had spent bucket loads to stop it the number would have been lower, but tax would have been higher and hte recovery probably slower. The trade off to telling banks they can't repossess is it makes the banks think twice about lending. It rewards fiscal imprudence at the expense of the fiscally responsible. I know, that is why I would be interested in seeing if there is any relationship between repos and unemployment, and it is only right that I ask for this. Would you rather I asked for nothing? Quote Link to comment Share on other sites More sharing options...
Fudge Posted January 22, 2009 Share Posted January 22, 2009 http://news.sky.com/skynews/Home/Business/..._Authority_said Blimey they are not demolishing the houses after repossession now are they. Thats a bit harsh. Quote Link to comment Share on other sites More sharing options...
hilltop Posted January 22, 2009 Share Posted January 22, 2009 The report gave a figure of 27,000 unsold repossed houses. What are the Banks waiting for? They are not going to get a better price. Unload them, force house prices down and get the pain out of the way. Quote Link to comment Share on other sites More sharing options...
grey shark Posted January 22, 2009 Share Posted January 22, 2009 Repossesions up 92% on same last quater last year to 13,161 But what about Gordons repossesion rescue schemes for hard working families .................. Quote Link to comment Share on other sites More sharing options...
cht Posted January 22, 2009 Share Posted January 22, 2009 The report gave a figure of 27,000 unsold repossed houses. What are the Banks waiting for? They are not going to get a better price. Unload them, force house prices down and get the pain out of the way. The banks have a proven ability to lose money on assets. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted January 22, 2009 Share Posted January 22, 2009 Repossesions up 92% on same last quater last year to 13,161 Wouldn't surprise me at all if these figures were fiddled.... I bet it's more like up 192%... Quote Link to comment Share on other sites More sharing options...
shindigger Posted January 22, 2009 Share Posted January 22, 2009 annualised around 52600. Still short of the record 75000 under the irresponsible do nothing Tories.Anyone got a graph plotting repos to unemployment? It'll piss past that. Just depends when you start annualising doesnt it. Quote Link to comment Share on other sites More sharing options...
shindigger Posted January 22, 2009 Share Posted January 22, 2009 I know, that is why I would be interested in seeing if there is any relationship between repos and unemployment, and it is only right that I ask for this. Would you rather I asked for nothing? As i posted on another thread. This time unemployment and repos are even more corrolated. Hotwired like an intel chip to a motherboard. People have NO financial buffer zone. Carnage. No other word for this. Quote Link to comment Share on other sites More sharing options...
gilf Posted January 22, 2009 Share Posted January 22, 2009 annualised around 52600. Still short of the record 75000 under the irresponsible do nothing Tories.Anyone got a graph plotting repos to unemployment? We haven't even got started yet, people (not accusing you) don't tend to consider the time factors involved. The sh*t in the general economy didn't really hit the fan until the middle of last year, job losses are only now starting to filter through, plenty more of those to come*... So in real terms we are only 6-7 months in as far as the wider problems go but..... it takes a good 7-8 months for a repossession to get anywhere near going to court, I say closer to a whole year from first missed payment to court balifs knocking on the door. What I'm trying to get across is this massive rise in repos is due to over exuberance and not the current wider economic factors now in play. Give it another year and a half and we will be well past that 75,000 figure IMO. All this ******** about green shoots totally misses that we have only just (or have we even) officially entered in to a recession. * I'd imagine almost none of the current reposessions are link to recent job losses. Quote Link to comment Share on other sites More sharing options...
gilf Posted January 22, 2009 Share Posted January 22, 2009 As i posted on another thread. This time unemployment and repos are even more corrolated. Hotwired like an intel chip to a motherboard. People have NO financial buffer zone. Carnage. No other word for this. I think it's worse than that personally, back in the last recession people didn't have that buffer, the difference this time is they have MEW'd their mortgage so any equity has gone almost over night. Brought the wolf to the door much quicker this time round. Quote Link to comment Share on other sites More sharing options...
wild card Posted January 22, 2009 Share Posted January 22, 2009 These figures are not a true representation of the actual figures as repossessions instigated by the 2nd charge lenders (secured loans) are not included in these figures. These loans have been available for years but in the last 5 years have become popular. Think Ocean Finance, Picture etc. In some cases people did not realise that some of these loans were secured. Voluntary repossessions are not included either. Bankruptcy often leads to people doing this as you can write off the shortfall from negative equity or arrears. Any unsecured lending of over £750.00 can be turned into a charge on land and can result in repossession. These are not included either. Granted they may be limited to date but this may increase. The real figures are also masked by the sell & rent back brigade, tho I cant find any statistics as to how common this is. Anybody have any links? Why the banks are waiting to sell I cant even guess at tho. It seems like madness. Surely something is better than nothing. Quote Link to comment Share on other sites More sharing options...
bobthe~ Posted January 22, 2009 Share Posted January 22, 2009 We haven't even got started yet, people (not accusing you) don't tend to consider the time factors involved. The sh*t in the general economy didn't really hit the fan until the middle of last year, job losses are only now starting to filter through, plenty more of those to come*... So in real terms we are only 6-7 months in as far as the wider problems go but..... it takes a good 7-8 months for a repossession to get anywhere near going to court, I say closer to a whole year from first missed payment to court balifs knocking on the door. What I'm trying to get across is this massive rise in repos is due to over exuberance and not the current wider economic factors now in play. Give it another year and a half and we will be well past that 75,000 figure IMO. All this ******** about green shoots totally misses that we have only just (or have we even) officially entered in to a recession. * I'd imagine almost none of the current reposessions are link to recent job losses. Peeps, it was a joke, the whole 75k, under the Tories thing. Absolutely agree, TSHTF in October*, so we won't see the unemployment spike in Repos till Mid year I suspect. *Although TH has been Hitting TF for over a year now. Quote Link to comment Share on other sites More sharing options...
shindigger Posted January 22, 2009 Share Posted January 22, 2009 (edited) These figures are not a true representation of the actual figures as repossessions instigated by the 2nd charge lenders (secured loans) are not included in these figures.These loans have been available for years but in the last 5 years have become popular. Think Ocean Finance, Picture etc. In some cases people did not realise that some of these loans were secured. Voluntary repossessions are not included either. Bankruptcy often leads to people doing this as you can write off the shortfall from negative equity or arrears. Any unsecured lending of over £750.00 can be turned into a charge on land and can result in repossession. These are not included either. Granted they may be limited to date but this may increase. The real figures are also masked by the sell & rent back brigade, tho I cant find any statistics as to how common this is. Anybody have any links? Why the banks are waiting to sell I cant even guess at tho. It seems like madness. Surely something is better than nothing. It sure is if youre a Northerncock pen pusher. Edited January 22, 2009 by shindigger Quote Link to comment Share on other sites More sharing options...
Van Posted January 22, 2009 Share Posted January 22, 2009 We haven't even got started yet, people (not accusing you) don't tend to consider the time factors involved. The sh*t in the general economy didn't really hit the fan until the middle of last year, job losses are only now starting to filter through, plenty more of those to come*... So in real terms we are only 6-7 months in as far as the wider problems go but..... it takes a good 7-8 months for a repossession to get anywhere near going to court, I say closer to a whole year from first missed payment to court balifs knocking on the door. What I'm trying to get across is this massive rise in repos is due to over exuberance and not the current wider economic factors now in play. Give it another year and a half and we will be well past that 75,000 figure IMO. All this ******** about green shoots totally misses that we have only just (or have we even) officially entered in to a recession. * I'd imagine almost none of the current reposessions are link to recent job losses. Agreed. There is 6-12 month lag before the real state of the market and economy feeds through the the figures. The next 12 months' worth of figures are going to be grim indeed. Quote Link to comment Share on other sites More sharing options...
DoctorJ Posted January 22, 2009 Share Posted January 22, 2009 Repossession because it's the right thing to do.Can't see Labour coming out with that. Mass repossessions that started in America that we will do our utmost to avoid at home. wa wa waaaaaaaaaaaaaaaaaaaaaaaa Quote Link to comment Share on other sites More sharing options...
DoctorJ Posted January 22, 2009 Share Posted January 22, 2009 ps only ~11K of these were actually repossessed according to CML Quote Link to comment Share on other sites More sharing options...
darwin Posted January 22, 2009 Share Posted January 22, 2009 Wouldn't surprise me at all if these figures were fiddled.... I bet it's more like up 192%... I'm with you on that one - a 92% rise means that it's doubled, more or less. I thought it would be worse. Anyway, if not now, it's going to be. Quote Link to comment Share on other sites More sharing options...
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