Thursday, Oct 15, 2009

Delay and pray!

Reuters: Fast repossessions may help housing market

LONDON (Reuters) - European housing markets need to see more repossessions in 2010 to bring limp credit markets back to life, or months of mortgage scarcity could morph into years of stunted house prices, fewer sales and more costly home loans.
Europe has largely escaped the wave of foreclosures that has dogged the United States, but experts say lenders could hasten an end to Europe's housing hangover if they called time on their most troubled mortgages to free up funds for stronger borrowers

Posted by waitingtobuy @ 09:43 PM (607 views)
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1. paul said...

remarkably common sense. If this isn't allowed to happen, either by legislative decree or by upping interest rates, the UK is condemned to a lost decade. It really is time the government stopped shielding the overstreched from their speculative financial decisions.

Friday, October 16, 2009 07:01PM Report Comment

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