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karhu

Repossessions To Hit 1.2 Million This Year In Us

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NORTHEAST FLORIDA -- The rise in foreclosures that analysts predicted would follow an easing in lending restrictions, low interest rates and creative mortgage products has emerged in metropolitan Jacksonville.

Recently released data from California-based RealtyTrac Inc. showed the five-county metro area experienced a 39 percent increase in foreclosures over last year's first quarter, or 3,579 foreclosures for the first three months of this year compared with 2,570 for the same period in 2005.

The increase was just above the national foreclosure increase of 38 percent for the first quarter, which RealtyTrac analysts said could mean foreclosures going above 1.2 million in the United States this year.

Though local banking and mortgage professionals were somewhat surprised at the number and rate of foreclosures for the Jacksonville area, overall they didn't view this upward trend as alarming. :o

http://jacksonville.bizjournals.com/jackso.../22/story3.html

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Its just what Alan "Big Al" Greespan predicted about 2 years ago during his "froth market" speech. The coastal markets would experience pain because prices had moved too far away from the fundamentals (affordability, IR contingencies, employment). The UK has one big froth market and will see one big crash.

Its a one horse Miracle Economy now: HPI and consequential MEW and the music is about to stop for Gordon's creation.

The currency markets are bidding sterling up against the Euro because of HPI and MEW:

http://uk.us.biz.yahoo.com/rb/060515/marke...close.html?.v=3

Reuters

Sterling falls vs dollar
Monday May 15, 10:46 am ET
By Veronica Brown
LONDON (Reuters) - Sterling fell against the dollar on Monday as the greenback bounced back from its recent hefty falls, but
the pound was supported against the euro by UK housing data
that raised talk of an interest rate hike.

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Guest Winners and Losers

as I said, nothing at all interesting in this topic... :unsure:

:lol:;)

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LONDON (Reuters) - Sterling fell against the dollar on Monday as the greenback bounced back from its recent hefty falls, but the pound was supported against the euro by UK housing data that raised talk of an interest rate hike.[/indent]

RB - I think you've got that (slightly) the wrong way around. GBP is supported because the market expects interest rate rises due to strong (inflationary) houseprice growth; among other things IMO. A slightly different emphasis

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  • 301 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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