Thursday, July 31, 2008

Negative equity threat to 1.7 million properties

Negative equity threat to 1.7 million properties

The spectre of negative equity on a scale not seen since the housing crash of the early 1990s is about to haunt the nation again, with unknowable but certainly dramatic political and economic consequences. According to research from the Standard & Poor's credit agency, some 1.7 million homeowners – one in seven – will see the value of their home fall below the outstanding balance on their mortgage in the next year.

Posted by housebear @ 11:07 AM (103 views)
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