Thursday, August 23, 2007

They coincided with a warning from mortgage lender Nationwide that house prices are set to fall sharply back into line with wage inflation next year, as the credit crunch pushes up interest rates for families around the UK.

Record numbers face debt meltdown

The scale of Britain's personal debt mountain has come into sharp focus with new research showing a record number of households are facing serious debt repayment problems, and that Britons owe more money than the entire economy can generate in a year.

Posted by chris :-)) @ 06:57 AM (561 views)
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One thought on “They coincided with a warning from mortgage lender Nationwide that house prices are set to fall sharply back into line with wage inflation next year, as the credit crunch pushes up interest rates for families around the UK.

  • House price inflation already fell sharply back in line with wage inflation in July if you believe the Rightmove House Price Index report. It’s figures show 0.3% for July, about on a par with 3-4% annual wage inflation, though this did jump to 0.6% in August. It’ll be interesting to see how the trend continues.

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