Saturday, August 16, 2008

But I thought house prices were going to go up!!

NUMBER OF PEOPLE LOSING HOMES SOARS

''...REPOSSESSION demands are soaring as home owners fail to pay their loans, figures show. The number at risk of losing their homes has risen by nearly a quarter in the past year. A total of 28,658 mortgage possession orders were made in England and Wales from April to June, up four per cent on the previous quarter – and 24 per cent more than for the second quarter of last year, said the Ministry of Justice...''

Posted by hpwatcher @ 08:25 AM (1428 views)
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8 thoughts on “But I thought house prices were going to go up!!

  • mark wadsworth says:

    That’s the genius of The Express – you can explain repossessions purely in terms of rising interest rates and heartless banks. Falling prices is not actually the major concern to some Hard Working Family being repossessed.

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  • I maybe wrong, but …. didn’t the CML state thast repossessions would total 70,000 this year ? I make the number of repo’s so far around 56,000.

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  • at the end of 1987,1 year into the housing slump,repos hit 14,000….they peaked 3 years later in 1992 at 72,000

    we are getting close to 1992 levels in jusy 6 months

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  • 1987 should read 1989

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  • It is interesting that the 2 comments (as of 11.03am) posted could’ve been written by people from here !

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  • If we had 14,000 in 89,and we have 70,000(estimated) this year thats an increase of x 5.
    if we had 72,000 in 92 then we are likely to have 360,000 repo’s in 2011.
    Has anyone noticed when vi’s try to put a positive spin on repo numbers they always compare 2008 with 1992, because that suits their agenda.To get a truer picture they should be comparing 08 with 89.

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  • It is interesting that the 2 comments (as of 11.03am) posted could’ve been written by people from here !

    probably were!

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  • Why do we even discuss the Express here? it’s every bit as much a comic fantasy world as its stablemates The Star and Hot Asian Babes – it’s been on the downhill slope for years but since Richard Desmond took all credibility on any topic has completely vanished.

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