Thursday, July 31, 2008

Negative equity threat increases for homeowners

Negative equity threat increases for homeowners

Nearly two million British homeowners face the threat of tumbling into negative equity as house prices continue to fall, the Standard & Poors rating agency said in a report yesterday. "The downward trend in UK house prices now seems well established and we expect prices to continue falling in the near term," said Andrew South, a credit analyst at S&P.

Posted by housebear @ 11:11 AM (357 views)
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3 thoughts on “Negative equity threat increases for homeowners

  • Yawn…

    housebear, I think one or two articles per day are probably sufficient for everyone to get the picture that things are going pear-shaped. Your multiple postings have had the effect of killing-off various discussions that were developing this morning. I know HPC is exciting, but there’s no need to over do it.

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  • little professor says:

    Oooh, harsh.

    But I suppose six articles in six hours from one contributer is a little excessive.

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  • And Repeat. . . . . says:

    Actually that article is rather scary if you believe the other statistic that on ave people have lost 15k in 1 year…. ouch… I sure didnt put 15k down on my first house. So all those first time buyers who bought last year must be feeling a bit hard done by. At least they got on the ladder I suppose. A erm, well greased one mind. Doing a search on neg equity returns a fair few entried like this http://www.repossession-stoppers.com/mortgage-shortfall.htm adding more fuel to the fire…

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