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'eviction Threat Hangs Over More Than 200,000 Homes'

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They ran a very similar story this time last year. The link at the bottom of the article you linked to.

14 December 2012

Shelter said nearly 200,000 households were threatened with the prospect of losing their home over the past year. The 15 worst places, where one in every 62 homes was at risk - double the national average - were all in London.

Shelter said most claims came from landlords seeking to evict tenants.

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They ran a very similar story this time last year. The link at the bottom of the article you linked to.

When debt starts to get a grip It still takes years to get to the point of eviction. Two credit cards can keep you going for ages.

Been there done that, in a past life.

I think there are vast numbers now struggling along with excessive debt - outgings exceeding income and any shortfall made up by continually borrowing - 'til things get better.

But things are not going to get any better. 2012 was too early to call it. 2014? yes we will see mass capitulation of the over extended. You can only stay under severe financial stress for a few years before you throw the towel in. Plus the banks know that when interest rates start to move in 2015 the housing market crashes.

What would you do now if you were a bank? You've got zombie families hanging in there with your help. You know they're stuffed when rates rise and your asset (their house) will be falling in value with each rise. 2014 and help to buy will let you get the non-performers purged at the most opportune time.

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When debt starts to get a grip It still takes years to get to the point of eviction. Two credit cards can keep you going for ages.

Been there done that, in a past life.

I think there are vast numbers now struggling along with excessive debt - outgings exceeding income and any shortfall made up by continually borrowing - 'til things get better.

But things are not going to get any better. 2012 was too early to call it. 2014? yes we will see mass capitulation of the over extended. You can only stay under severe financial stress for a few years before you throw the towel in. Plus the banks know that when interest rates start to move in 2015 the housing market crashes.

What would you do now if you were a bank? You've got zombie families hanging in there with your help. You know they're stuffed when rates rise and your asset (their house) will be falling in value with each rise. 2014 and help to buy will let you get the non-performers purged at the most opportune time.

Can folks get the credit card debt so easily, post credit crunch ?

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Can folks get the credit card debt so easily, post credit crunch ?

Much tighter controls today. Lenders are also tightening up on ability to pay which is bad news for those who need to re-mortgage. I predict a UK property crash within the next two years. That's not good for me though because my house was paid for long ago. Younger people need to keep the faith.

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Much tighter controls today. Lenders are also tightening up on ability to pay which is bad news for those who need to re-mortgage. I predict a UK property crash within the next two years. That's not good for me though because my house was paid for long ago. Younger people need to keep the faith.

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I have my doubts as to whether there will ever be evictions on a significant scale - at least in the medium term. New Labour staved off that situation for almost a decade - holding IRs down, the bank bailout, you name it.

A government faced with the same problem today probably wouldn't be able to use the solution of throwing money at it - at least, not in the same quantities. But significant numbers of renters faced with eviction is something Labour would want to do something about (many of them are now entering middle age and thus the period in life when they're likely to start voting), and significant numbers of OOs and BTL-ers in that situation would attract the Tories' attention. It could well be a legislative approach next time, i.e. making it more difficult to evict people, no matter how far behind on rent and mortgage payments they are.

Mass evictions resulting from the 1989-94 housing slump were part of what lost Major the '97 election. No government will want to make the same mistake again.

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significant numbers of renters faced with eviction is something Labour would want to do something about (many of them are now entering middle age and thus the period in life when they're likely to start voting)

The statistically lower turnout of younger voters is oversold. 5 out of 10 people under 35 turned out at the last general election versus 7 out of 10 aged 45-64. That's only one person in five taking up voting as they get older.

Estimated 2010 general election turnout by age and gender

Voters Turnout %

Age

18-24 44%

25-34 55%

35-44 66%

45-54 69%

55-64 73%

65+ 76%

Source: Ipsos MORI, How Britain Voted in 2010.

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So is Sterling going to tank?

Against what?

If the Euro fragments, or splits into a South and North Euro, then Sterling would certainly be much lower against whatever currency is built around the Deutschmark. Apart from that I'd guess the predominant risks for Sterling are actually to the upside.

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