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Reposessions likely to hit 15-year high.

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Comments

  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    rosa_luxembourg wrote: »
    And, as predicted by the brilliantly perspicacious ISTL, (who really does know best - this proves it) the CML hope to revise their repo forecast:

    Why thank you, although I admit I had to look up persicacious. ;)
    I don't however believe I am so persicacious, but rather reflective in that taking in information from previous actions and analysing whether it is possible to happen again.

    In this instance, making a snesational headline for a 15 year high in reposessions seemed a bit off when last year they predicted a figure 41.5% higher and had to dramatically revise it.
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    IveSeenTheLight wrote: »
    In this instance, making a snesational headline for a 15 year high in reposessions seemed a bit off when last year they predicted a figure 41.5% higher and had to dramatically revise it.
    i think that our darling Rosa knew this was the case but liked the idea of the headline. bless her little cotton diamond socks!!
  • rosa_luxembourg
    rosa_luxembourg Posts: 53 Forumite
    IveSeenTheLight wrote: »
    Why thank you, although I admit I had to look up persicacious. ;)
    I don't however believe I am so persicacious, but rather reflective in that taking in information from previous actions and analysing whether it is possible to happen again.

    In this instance, making a snesational headline for a 15 year high in reposessions seemed a bit off when last year they predicted a figure 41.5% higher and had to dramatically revise it.

    A pleasure to read this modest post.

    Just lay off the male chauvinism which you poured on Carol. OK?
    Die, die sich nicht bewegen, beachten nicht ihre Ketten.
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    rosa_luxembourg wrote: »
    A pleasure to read this modest post.

    Just lay off the male chauvinism which you poured on Carol. OK?

    Carol and I go back a long while and she does seem to be the one thorn in MSE which digs in my side.
    Usually because she turns things personally (which is where I bite) and I find it hard not to point out her flaws.

    I do try to bite my toungue, but putting it childishly, "she started it" and I called her on it ;)
    If she simply had not taken it to a personal level with myself and so inaccuratly, I wouldn't have felt the need to respond in the way I did
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • rosa_luxembourg
    rosa_luxembourg Posts: 53 Forumite
    edited 14 May 2010 at 2:20PM
    chucky wrote: »
    i think that our darling Rosa knew this was the case but liked the idea of the headline. bless her little cotton diamond socks!!

    I truly didn't. I tend(ed) to believe The Times - it is 'the national organ of record'. I must be old fashioned.

    However.... The headline *was* eye-catching. And did reflect the available facts yesterday. Today, the CML have said that they "hope" to revise their forecast. That's all that's really changed.

    I think, in the political language of the day, we call that an *aspiration*. The forecast remains at 53,000 repos.
    Die, die sich nicht bewegen, beachten nicht ihre Ketten.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    rosa_luxembourg wrote: »
    I truly didn't. I tend(ed) to believe The Times - it is 'the national organ of record'. I must be old fashioned.
    maybe it's a lessoned that you've now learned...

    it's always good to see threads that have been started that contain sensationalist headlines just to attract attention that show no perspective on the real numbers.

    i think you're a cat person btw
  • rosa_luxembourg
    rosa_luxembourg Posts: 53 Forumite
    edited 14 May 2010 at 2:53PM
    chucky wrote: »
    maybe it's a lessoned that you've now learned...

    it's always good to see threads that have been started that contain sensationalist headlines just to attract attention that show no perspective on the real numbers.

    i think you're a cat person btw

    I have to say, I was surprised to see the article re-written today. But, and it's a big but; the CML statement that they "hope" to revise the figures is conditional upon the continuation of current levels of government support. Levels which you, yourself, confirm to be unsustainable. In that context, this "hope" is, in the political language of the day, an "aspiration".

    In joining with charities to petition the Chancellor, the CML look a bit wobbly.
    http://www.cml.org.uk/cml/media/press/2612

    If, If, and if...
    However, if current levels of government support continue, if interest rates do not rise, and we have no new economic shocks, the 53,000 repossessions forecast for the year is pessimistic.
    ...
    Together with Shelter and Citizens Advice, we have today written to the Chancellor to encourage him to make a clear commitment in his first budget to extending current support measures for the borrowers in most financial difficulty.

    What happens IF current levels of support DO NOT continue, AND/OR rates DO rise, AND/OR we have a new economic shock (that's happening now, isn't it?)



    My lifestyle is not compatible with pets, btw.
    Die, die sich nicht bewegen, beachten nicht ihre Ketten.
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    rosa_luxembourg wrote: »
    I have to say, I was surprised to see the article re-written today. But, and it's a big but; the CML statement that they "hope" to revise the figures is conditional upon the continuation of current levels of government support. Levels which you, yourself, confirm to be unsustainable. In that context, this "hope" is, in the political language of the day, an "aspiration".

    In joining with charities to petition the Chancellor, the CML look a bit wobbly.
    http://www.cml.org.uk/cml/media/press/2612
    .

    Your link points out the actual reposessions from the first quarter
    http://www.cml.org.uk/cml/media/press/2612

    9,800 in Q1 2010
    Down from 10,600 in Q4 2009 and
    Down from 11,700 in Q3 2009 and
    Down from 11,400 in Q2 2009 and
    Down from 13,200 in Q1 2009

    It seems the trend is down, but of course trends can change.
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Reposessions hit two year low (from below)
    That's fact, not speculation or a prediction

    http://www.moneysavingexpert.com/news/mortgages/2010/05/repossessions-hit-two-year-low?utm_source=forum&utm_medium=sidebar&utm_campaign=box
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 7 June 2010 at 1:04AM
    rosa_luxembourg wrote: »

    Out of interest, how far below the sale price do you think those auction properties in Aberdeen (lots 357-360) are priced?


    HAMISH_MCTAVISH wrote: »
    Given the lack of condition information and no vacant posession, I'd guess they'll be cheaper than open market sales, but above guide price.

    We'll know soon enough.

    Sold results are in for the auction with Aberdeen properties in it.

    Nearly double the guide prices, almost open market prices, despite the risks of taking on unknown tenancies and no condition information.

    310Investment FlatAberdeen£87,000
    311InvestmentFlatAberdeen£90,000
    332OtherAberdeen£65,000
    357OtherAberdeen£70,000
    358OtherAberdeen£75,000
    359OtherAberdeen£80,000
    360OtherAberdeen£73,000
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
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