Friday, February 27, 2009
If THIS report is true then a lot of people are already in trouble.
".... Over 5m homeowners could be in negative equity by the end of 2009, research claimed. An estimated 3.8 million people either already owe more on their mortgage than their home is worth or are very close to doing so....a further 1.2 million homeowners are expected to be in negative equity by the end of the year if house prices drop by a further 10% to 20%, according to research group GfK NOP."
This is far worse than the 1990s recession - we are going to see "hard working families" made homeless because of the incompetence and stupidity of Gordon Brown's control over our lives for the last 12 years.