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"property Market Faces 'long Road To Recovery'

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Property market faces 'long road to recovery'
Myra Butterworth, 16:43, Thursday 11 November 2010
Britains housing market faces a long road to recovery as figures showed mortgage lending failed to pick up last month.
Around 50,000 mortgages were approved to those buying a new home in September, unchanged from the previous month and 2 per cent lower than a year earlier, according to the Council of Mortgage Lenders.
A total of 29,000 people switched home loans in September, an increase of 4,000 loans and the highest level since March. Remortgaging accounted for 29 per cent of all advances during the month, the first time proportionate increase since May.

How so very sad. :( *

* :lol::lol::lol:

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More importantly the feckless are not apparently feckless as first thought, mortgages are being paid - albeit indirectly via the nations savers.

"The number of properties taken into possession was 27 per cent lower than the 12,200 in the same period a year ago, the CML said.

There was a slight improvement in the number of people who had fallen behind with their mortgage during the third quarter, with 176,100 people in arrears of 2.5 per cent or more of their outstanding debt, down from 178,200 at the end of June."


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No repo, no forced sales (other than Death and Divorce but these maybe 'rented out until the market recovers')

this above

does not connect with the below

the logic does not connect

it is a non-sequitur

a fallacy

no crash, low IR, hard-working home owners saved, HPI saved.

Edited by Si1
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