Oh Dear - House Repo's up 55%

[DimPrawn]

http://news.bbc.co.uk/1/hi/business/4377938.stm

The number of mortgage possession orders applied for in the courts reached nearly 30,000 during the third quarter of 2005, official figures show.
This represents a 55% increase on the number of orders applied for during the same period in 2004, the Department for Constitutional Affairs said.

Home repossession does not automatically follow on from a lender applying for a possession order.

But the sharp rise in applications will add to concerns about debt levels.

[fish]

bovered

[DimPrawn]

This tells us what we already know. The credit fuelled economic "miracle" created by Brownstuff is over.

Payback time folks.

[Joe Black]

"The figures my right honourable friend DP indicates, as he prudently knows, simply represent a normal part of the whole economic cycle. There will be no return to boom and bust under a New Labour government."

Gordon Brown MP

[wendigo100]

"The figures my right honourable friend DP indicates, as he prudently knows, simply represent a normal part of the whole economic cycle. There will be no return to boom and bust under a New Labour government."

Gordon Brown MP

Not the boom bit, anyway.