Tuesday, June 28, 2011

Scary

Britain facing raft of home repossessions - "bad bank" chief

Britain is facing a raft of home repossessions as soon as interest rates start to rise, the chief executive of the bad bank managing the toxic assets that brought down Northern Rock told The Guardian newspaper in an interview.

Posted by paranoia blue @ 06:26 AM (3912 views)
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4 thoughts on “Scary

  • …and the funny thing is that if any of them had to sell, they would push for something completely over the top.

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  • mark wadsworth says:

    That’s why the government has to ensure that Hard Working Responsible Home-Owners who have taken a stake in society are enabled to stay in their homes with ultra-low interest rates because that helps them build up capital for the future to cascade down the generations and to prevent the spectre of mass repossession a recovery in the housing market is vital to our economy (continued page 94)

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  • happy mondays says:

    The sooner that the illusion of owning your own home is just a cash cow for the government & banks is realised the better for us all.. When housing is offered as a Home & not an investment to make a quick buck, we will have made some sort of progress, but we must feel the pain first to get some sort of equilibrium back into the housing “market”

    “None are more hopelessly enslaved than those that believe they are free”

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  • @HM “When housing is offered as a Home & not an investment to make a quick buck, we will have made some sort of progress,”

    I got into a conversation with an estate agent recently, (something I don’t usually do as I consider EA’s on a par with bankers as the lowest form of pond life) and was amazed to hear him say that buyers are now looking on houses as “homes rather than quick return investments”

    Has the penny dropped and might we start to see a return to sanity?

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