Saturday, August 16, 2008

“In some of the country’s most prosperous areas, home repossession cases have increased up to 95 per cent”

Middle-class homes crisis: 39,000 facing repossession as spectre of the Nineties returns

Why should the middle class and even the rich be immune: the higher the income the more massive the debt burden naive house buyers have saddled themselves with! waiting to see blood and tears on the streets here in London

Posted by confused76 @ 09:35 AM (519 views)
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One thought on ““In some of the country’s most prosperous areas, home repossession cases have increased up to 95 per cent”

  • Yerhavingalaugh says:

    Loved the comment in the printed version of this article (my wife buys it – honest) by Peter Williams chief executive of the Intermediary Mortgage Lenders Association. He said “while arrears and possessions are clearly on the up – this is no mortgage meltdown akin to what we saw back in 1991. There’s no doubt that with rising food and fuel prices, people have less spare cash. But the pain of this slowdown will be short and sharp” Yeah right lol. After more rubbish that I won’t bore you with he goes on to say “recovery should come more quickly than it has in past housing slowdowns”. So that’s all right then. What a plonker!

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