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Repossession, Repossession, Repossession

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Home repossession orders soar by 66 per cent as debt mounts

Telegraph, front page, 27-10-2005

Now, for how long has this site been predicting this?

And then we have this leader:

The days when you could have it all are over

Yet as an economist quoted in our news pages today points out, before the great credit crunch of the early 1990s, the repossession order figures turned out to be a better guide to the coming calamity than the state of arrears.

Obviously I'm Tory boy, but I think the Telegraph have whipped the Times' butts over this whole issue. What with Ross Clark and HouseRat (one and the same I think), they've been putting out the warning signs for some time, if you bothered to notice.

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Guest The_Oldie

Sky News guest newspaper reviewer this morning was Sarah Beeny. The only Telegraph article they concentrated on was about single people living alone, which will increase housing demand and cause prices to rise :P. The front page was not shown at all, you couldn't make it up :rolleyes:.

The BBC, however, did show and discuss the debt article.

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Well it appears that people were able to buy propererties at this huge cost..

But they used the banks money and they can't afford to pay the bank..


Why didn't I buy...? well because I could have borrowed the money.. but.. couldn't have paid it back...

I hope not too many are hurt...

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