Sunday, February 24, 2008

Cautionary Tales from the Last Recession

Recession and repossession: surviving a great fall

"In the end, the flat that they had bought for £69,000 was sold by the mortgage company for just £27,000, leaving Tommy and his sister liable to the tune of £47,000 ... Now 43, he works as the manager of a homelessness project, lives in a rented flat and has vowed never to buy a property again."

Posted by quiet guy @ 02:14 PM (1188 views)
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3 thoughts on “Cautionary Tales from the Last Recession

  • Glad to see these poor souls have learnt from the last recession and are now much better-placed to survive the upcoming one. Gill Marsh ‘lost marriage, business and house’, but has finally come back and “remarried, bought another house, and is managing an estate agency branch.” Recession-proof job if ever I saw one. And ‘bought another house’. Nice. Yes, I know I’m cruel.

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  • “and is managing an estate agency branch.” Recession-proof job if ever I saw one”

    Not sure about that …

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