Will House Foreclosures in the UK reach American levels ?

Question

Lenders launched foreclosure actions against more than one in every 200 U.S. mortgage borrowers in the fourth quarter of 2006, the biggest share of homes at the start of the repossession process on record.

Answer 1

Without doubt.
Gordon Blair, sorry I mean Gordon Brown's inept economic management was going to catch up eventually wasn't it?
Those in the know understand that Gordon's fiddled figures do not reflect the truth about the economy.
The current credit bubble and levels of consumer/household debt are completely unsustainable.
There should have been some governmental intervention to prevent the banks from acting in a manner which is contrary to the national good- with their peddling of credit to marginally credit-worthy consumers.
We shall see a very unfortunate sizeable portion of our society in severe debt, leading to widespread bankruptcies.

The economy is severely ill and desperately requires someone with functional numeric literacy to run the economy, rather than a smug ideologue.
Inflation is rising very quickly and we can all see that is is obvious the housing market is artificially being stoked, hotter and hotter.

And as the clever chap above mentioned, the speculators, the real estate agents and the banks, property price rise or fall, are all making out like bandits. The entire property market and the banks require stricter governance and oversight for the public good and the National Interest (which of course is making sure their citizens are not debtors, bankrupters or in extreme financial hardship).

We shall see how many PC & New Labour zealots & devotees will be eating their hats when the Socialist bubble bursts.

Answer 2

yes 900,000 homes put on the market would depress the market ,plus being unrented , generate a rental shortage ,we had those get ritch people getting houses teaching others to get more houses on the lie of renters paying it off ,or the many other deceits people come up with to qualify for the loan ,o0r get full financing by inmflating the house value
in japan it was at least buisness lending that bought the banks lending practices to the light
here it just was people wanting it all now
and on credit
same in uk who is to say but world wide we shall see a trend emerge , in all the western type speculaters that got in on the real estate pyramid scams , we live and learn ,prices rise suprise and fall , not often enough to predict but often enough to learn the value of greed ,limits supply then cash shortage lengthens supply usually with a down ward trend

Answer 3

Another classic example of the parasitic usury system taking its toll! The only way brother you can be free from this choking usury system is to live independently of the slave system.
It is when we reduce our wants and start to learn to help and give is when we can be free of this slavery.
Cheers!

Answer 4

you aint seen nothing yet, did you really think this would continue forever.

Answer 5

it's world wide.