October 12, 2007
Property Crisis Still ongoing in the States
As if the sub prime problem in the states was not bad enough. It would seem that the home repossession figures are on the up too. In fact the repossessions or foreclosures have doubled for the month of September 2007 as compared to September 2006, and if that were not bad enough the actual figure is nearly 250,000, the figure last September was 112,00!
However the figure is actually lower than the previous month, but if this is running at 250,000 per month, this is a huge amount homes, and even though the US is big, this is still going to have a knock on effect over there and possibly even here in the UK and Europe.
Source [Bad Credit Blues]
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