Will House Foreclosures in the UK reach American levels ?
Question:
Answer:
The UK will collapse for the following reasons: as bad as the US is for debt, the UK is actually per person worse. The UK has been able to stoke the City with funny money but this has not gone without notice by our allies. The OECD has already called the UK a corrupt place to do business. Yvette Cooper, the housing minister, is trying to flog dodgy mortgages to keep the whole show on the road because people like her and the PM directly benefit from rising prices. But it is a house of cards and will hit the wall.
No don't think so.
the house market has collapsed a bit there that's for sure. and repossessions ( foreclosures ) have gone up here, they do though give you a lot of leeway here and readjust credit to enable you to get through a bad time. im not sure if that's the same there.
I think the increase in foreclosures is linked to the type of Mortgage offered - where by initail repayments are very low and ramp up over time - when the increased payments are due lenders have been dfaulting in record numbers hence the increase in forclosures.
This has also been affecting US and Eurpoean lending institutions recently
no,yes,no,yes.i'm cofuseing
Don't think for one minute "big Brother" isn't behind all of that either! Why would credit card companies go out of their way to fill your pockets with plastic? Several reasons come to mind:
First and foremost, you can control and oppress people when you "own" them!
Secondly, there are wealthy people in this country who want strategic areas of the country and the only way to get the land is drive out the poor by what ever means available to them!
And to confirm my theory, government passes a law allowing private corporations to use "imminent domain" against you for their strategic business plan!
Where would you ever get a $250,000 mortgage on a $20,000 a year salary? There are formula's which are used to determine mortgage lending however, it would not result in the foreclosures required by the wealthiest!
So the answer is "probably yes" if the UK has experienced some of these issues!
Lorne, I answered this question for you yesterday:
In the UK it's 0.15% of all owned homes are repossessed.
That's 19,000 homes that were repossessed in 2006.
With more than 11.7 million mortgages in existence those more than three months in arrears (and thus facing possible repossession) represented less than 1% of the total.
Even with a rise of .35% to reach the American levels the forclosure numbers are still a far cry from the housing market crash in the early 90s and would not have a major impact on our economy here.
Total repossessions in last three years: 56,540
Total repossessions between 1990-1993: 247,00
Seems like we're not as in bad shape as one would think.
Yes, sadly it could, laying waste to the lie that the economy was anything but an engineered ploy to get as many people as possible in houses and on cards.
In addition to the flase economy, which made the rich even richer, it also made damned sure that the populas was far too busy worrying about debt to take and real and active interest in politics that were/are cutting away at freedoms.
However, now the worm will turn, and this will be a worm with teeth, damned angry teeth.
It depends . . . The U.S. collapse is not actually a collapse. What you see in the U.S. is a result of foolish people taking out foolish loans and foolish investors making foolish investments. The so-called collapse is actually a buying opportunity. Those who sat back and let the foolish be foolish can now by excess inventory at reduced rates. This is how the rich get richer . . . by leveraging fools.
More Related Questions & Answers...