Thursday, January 1, 2009

House prices to boom (err tank) in 2009

Almost 3,000 home owners falling into negative equity every day

Simon Ward, chief economist at New Star, said: "The problem with negative equity is the fact that it interacts with rising unemployment, causing more repossessions. That is the scenario we're facing at the moment." Economists expect the number of people out of work to rise towards 3 million this year, leaving many of the most over-extended with little choice other than to sell their homes or give them up to their mortgage companies.

Posted by v stor @ 08:25 AM (450 views)
Please complete the required fields.

Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>