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Bank Of England Says 1.1m Homeowners In Negative Equity

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number of homeowners whose mortgage is more expensive than the value of their property has reached the peaks of the 1990s recession in just 18 months. In the last recession, "it took almost six years" to 1995 for the number of those in negative equity to hit 1.1m, the Bank said in its quarterly bulletin, published on Friday. House prices have fallen "by 19pc in just a year and a half", compared with 15pc between 1989 and 1995, and economists predict they have further to go despite a small recovery last month reported by Halifax and Nationwide.

http://www.telegraph.co.uk/finance/economi...ive-equity.html

7pc-11pc of Britain's mortgage borrowers.

all fine really.

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no wonder the banks are keen to get it rising again.

falls expose the uselessness of their skills at making good loans.

it also exposes the fallacy that they earned any bonuses at all.

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