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Home Repossessions 'are Set To Soar Again': Thousands Could Lose Properties When Period Of Rock-Bottom Interest Rates Ends

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http://www.dailymail.co.uk/news/article-2521098/Home-repossessions-set-soar-Thousands-lose-properties-period-rock-rates-ends.html

Over last five years, number of home repossessions has dropped every year

However, this 'benign period' may soon 'be coming to an end', warn experts

House prices are also predicted to rise by 44 per cent over next seven years

The ‘benign period’ during which the number of families being repossessed or falling behind with their mortgage has remained exceptionally low ‘may be coming to an end’, the Council of Mortgage Lenders said yesterday.

Over the last five years, these numbers have dropped every year as rock-bottom interest rates have helped people to stay in their homes and banks have shown extreme patience towards them.

But the CML said the number of families who lose their homes will pick up when the Bank of England raises the base rate, which has been frozen at 0.5 per cent since March 2009.

No wonder Carney is saying interest rates will be remaining low, he needs to keep these people in their homes to bailout the banks.

Still at least house prices will go up by 44% when all these repossessions hit the market due to excess demand for property.

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http://www.dailymail.co.uk/news/article-2521098/Home-repossessions-set-soar-Thousands-lose-properties-period-rock-rates-ends.html

No wonder Carney is saying interest rates will be remaining low, he needs to keep these people in their homes to bailout the banks.

Still at least house prices will go up by 44% when all these repossessions hit the market due to excess demand for property.

How can keeping them in there, if they aint paying, be helping the banks...oh hang one....the tax payers pay them indirectly.

The whole thing is rotten.

that "house prices will rise 44%" is one for the propaganda thread.

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http://www.dailymail.co.uk/news/article-2521098/Home-repossessions-set-soar-Thousands-lose-properties-period-rock-rates-ends.html

No wonder Carney is saying interest rates will be remaining low, he needs to keep these people in their homes to bailout the banks.

Still at least house prices will go up by 44% when all these repossessions hit the market due to excess demand for property.

It's funny how the government think that they can stoke demand by making prices rise. If I increase the price of new cars, computers, ipods etc.. does the demand go up?

The only demand resulting from rising prices is speculative demand and we all know where that ends up.

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It's funny how the government think that they can stoke demand by making prices rise. If I increase the price of new cars, computers, ipods etc.. does the demand go up?

The only demand resulting from rising prices is speculative demand and we all know where that ends up.

as usual, its not about the borrowers.

I was wondering why a Government issues a bond, whereas a homeowner takes on a mortgage? both are loans, both are for a fixed period and both come with a piece of paper that bankers can trade.

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It's funny how the government think that they can stoke demand by making prices rise. If I increase the price of new cars, computers, ipods etc.. does the demand go up?

The only demand resulting from rising prices is speculative demand and we all know where that ends up.

They can try and stoke up as much demand as they like, but things won't go up, or move until prices fall in line with wages and savings, and more homes are built to house our actively encouraged expanding population......

Yes...speculation demand is not helping the situation, speculation using debt or speculation using foreign money, the money of the people who don't live here so don't contribute actively to our economy. ;)

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Fear also creates demand ... if you don't buy now you never will and if you buy now you can lock in the interest rate for a few years. If you wait then prices will rise far quicker than you can save YOU MUST BUY NOW.

The propaganda machine is is full swing and many will commit, every newspaper, TV program and news bulletin; there are smiles when house prices rise, rising house prices are seen as a SUCCESS (today's Daily Excess).

That kind of 'fear' demand is speculative demand......tell me a person who sees falling prices being fearful of rising prices. ;)

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My colleague hasn't been able to sell his house for over a year. It's nice, cheap, but every time he has a buyer they fail to get a mortgage or fail to sell their own house. This has happened several times now. Meanwhile prices are going up in the area they need to move to for work reasons, and travel is costing them a fortune.

He is resistant to renting afterwards because he feels they will never get on the ladder again due to prices going up.

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My colleague hasn't been able to sell his house for over a year. It's nice, cheap, but every time he has a buyer they fail to get a mortgage or fail to sell their own house. This has happened several times now. Meanwhile prices are going up in the area they need to move to for work reasons, and travel is costing them a fortune.

He is resistant to renting afterwards because he feels they will never get on the ladder again due to prices going up.

Comedy gold. :lol::lol::lol:

Here's a photo of that ladder:

S230-624x351.jpg

More accurately, it's a pyramid that uses a ladder to move between layers.

When you realise that you realise why house prices are maxed out.

Edited by TheCountOfNowhere

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Comedy gold. :lol::lol::lol:

Here's a photo of that ladder:

S230-624x351.jpg

More accurately, it's a pyramid that uses a ladder to move between layers.

When you realise that you realise why house prices are maxed out.

Please add snakes.

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Fear also creates demand ... if you don't buy now you never will and if you buy now you can lock in the interest rate for a few years. If you wait then prices will rise far quicker than you can save YOU MUST BUY NOW.

The propaganda machine is is full swing and many will commit, every newspaper, TV program and news bulletin; there are smiles when house prices rise, rising house prices are seen as a SUCCESS (today's Daily Excess).

I'm part of the resistance. If people choose to buy at ever stupid higher insane prices damaging position of millions of younger people coming through, whether out of entitlement to a house or fear or stupidity, as they have done year on year for a decade, they might as well be colluding with the enemy to me. And they deserve to be treated accordingly.

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