Sunday, March 30, 2008

So much for IVAs being the answer to everything….

Debt time bomb over repossessions

As fears grow of another crash in the property market, some of those who had their homes repossessed in the last housing slump are still suffering the consequences.

Posted by wilee @ 12:36 PM (802 views)
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5 thoughts on “So much for IVAs being the answer to everything….

  • there appear to be a lot of distressed sellers near me.., the streets are full of signs… I think this is only the start.. i think before long we will be like the USA, as this crunch is very different from last time, plus USA recession looks more like depression..

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  • damocles vs sisyphus says:

    Test post: I have finally got around to registering even though I have been a deciple of the HPC for an age

    http://www.propertysnake.co.uk/site/postcode/sa4 (this is my local area and most properties over the last year have lost 10k – 20k off their inflated asking price)

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  • planning4acrash says:

    Wow, the banks track the debtors, knowing everything about them, only telling them about the debt once they’ve bought a new house. OUTRAGOUS!!!!!!!! Just shows how banks really think. Everybody should listen to this. Particularly the last quarter of it.

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  • planning4acrash says:

    Just goes to show how shady and evil banks really can be.

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  • There is a book called “The Grip of Death” which describes just how evil mortgages and other debt instruments are, and how over reliant the whole finance industry is on long time debt payments, it is a truly shocking read:

    http://www.amazon.co.uk/Grip-Death-Slavery-Destructive-Economics/dp/1897766408/ref=sr_1_1?ie=UTF8&s=books&qid=1206927564&sr=1-1

    We are in this mess because governments etc. used Socialist (fantasy) economics, to hide their greed and waste, when they should have used Austrian Economics and lived within their means.

    The global finance industry urgently needs a restructuring revolution to massively reduce fractional lending ratios, this will probably require very deep and painful deflation. If this deflation is not allowed to occur quickly then the pain will be spread over many years and cause much more damage!

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