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

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.

Answer 2

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.

Answer 3

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!

Answer 4

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.

Answer 5

specific 900,000 residences positioned on the marketplace could depress the marketplace ,plus being unrented , generate a condo scarcity ,we had those get ritch human beings getting residences coaching others to get extra residences on the lie of renters paying it off ,or the numerous different deceits human beings arise with to qualify for the interior maximum loan ,o0r get finished financing by employing inmflating the abode fee in japan it grow to be a minimum of buisness lending that bought the banks lending practices to the mild right here it only grow to be human beings wanting all of it now and on credit same in united kingdom who's to declare yet international huge we will see a variety emerge , in each and all the western variety speculaters that have been given in on the real factors pyramid scams , we live and learn ,costs upward thrust suprise and fall , no longer frequently sufficient to foretell yet frequently sufficient to income the fee of greed ,limits grant then money scarcity lengthens grant many times with a down ward type

Answer 6

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.

Answer 7

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.

Answer 8

no,yes,no,yes....i'm cofuseing

Answer 9

No don't think so.