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getknk

U.s. Home Seizures Rise To Record

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http://www.bloomberg...re-backlog.html </br>

A record 269,962 U.S. homes were seized from delinquent owners in the second quarter as lenders set a pace to claim more than 1 million properties by the end of 2010, according to RealtyTrac Inc.Home seizures climbed 38 percent from a year earlier and 5 percent from the first quarter, the Irvine, California-based data company said today in a statement. More than 1.65 million properties received a foreclosure filing, including notices of default, auction and bank repossession, in the first half. That was up 8 percent from the first six months of 2009.

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The UK has various moral hazard-creating mechanisms that the US lacks, e.g. Labour's mortgage interest paid by the taxpayer if you lose your job scheme, and the huge pressure they put on the banks not to repo (backed up by various sticks). In short, I suspect that a lot of houses are not being repo-ed in the UK in circumstances where they would have been in the US.

The question is if and when any of these pit props will be knocked away...

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  • 258 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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