Friday, February 04, 2005

House Crash On The Way?

We can only hope as Bankruptcies soar to record high, this is just the 1st indication that people are boring to much which will inevitable force the government to rise interest rates which will push up home repossessions past there 7 year high we have now. Repossession rates have not been this high since 1997.

Individual bankruptcies were up 34.6% on the same period last year and 8% on the previous quarter, suggesting higher interest rates are beginning to bite.

BBC News

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