UK House repossessions more than double

jetski

PATRICK LOGUE The number of house repossessions has more than doubled in the first six months of the year, according to Courts Service figures.
The total number of possession orders issued by the High Court in the first half of 2008 was 126, compared to 59 similar orders in the first six months of 2007. A total of 108 orders were issued in 2007.
The numbers of originating summonses issued, in which home possession was the principal cause of action, has also jumped dramatically. In the first six months of this year, 254 such summonses have been issued, compared to 187 for the same period in 2008.
Labour’s finance spokeswoman Joan Burton, who obtained the figures, said the upward trend was “unmistakable”.
“In addition, the personal tragedy and family trauma involved in a repossession, is huge,” she said.
“Already, householders are faced with the very real prospect of negative equity, which has serious economic and social consequences.
“Many of the problems that we are now facing in this regard are the direct result of the slump in the property market, and the knock-on collapse in building activity, brought about largely as a result of Brian Cowen’s mishandling of the stamp duty issue.”
© 2008 ireland.com

http://www.irishtimes.com/newspaper/breaking/2008/0704/breaking64.htm

Latchy

According to a news report in Liverpool it seems likley that people who default on their mortage payments will have the option of returning to buying or renting council housing at a more afforable price.

ZYX

This is 2 months old. Jetski, how are you coming up with all these. You must be reading very old newspapers

amdublin

Why are you posting old newspaper articles?

connundrum

amdublin wrote: »

Why are you posting old newspaper articles?

It appears to be the habit of a lifetime tbh

stovelid

Can a mod verify if jetski is an actual user, as opposed to a cron script that collates and prints random news articles about global property crashes?