Sale of repossessed housing doubles
Sales of repossessed properties in the first quarter of 2009 are double the figures from a year earlier, according to research by the Asset Management Group (AMG). Its figures show…
Tag: recession
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Slide rule
Wherever you look the statistics seem to be unprecedented. House prices fell at their fastest rate ever in 2008. Sales are lower than at any time since records began in…
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Young people feeling recessionary chill
A record number of young people are not in any form or education, employment or training (Neets), according to figures from the Conservatives. Nearly 860,000 people aged 16–24 were not…
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Bank of England in crisis talks with building societies
The Bank of England is in talks with seven building societies hoping to renegotiate emergency funds made available during the credit crunch. While the building societies – including Chelsea, Yorkshire…
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House price fall at lowest rate for a year
House prices fell at the lowest monthly rate for a year in April, according to latest figures from Hometrack. They fell by 0.3 per cent for the month, taking prices…
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Letting agents seeing rise in tenants behind on rent
The number of tenants struggling to pay their rent is rising, according to the Association of Residential Lettings Agents (ARLA). Around 65 per cent of agents have seen an increase…
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But could they be in financial trouble?
Moodys, the rating agency, disputes the TSA announcement, having calculated that one-fifth of associations in England could face financial difficulties during a lengthy recession. Moodys said that 22 per cent…
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Banks fail the âstress testâ
The Financial Services Authority (FSA) has published details of its âstress testâ for banks, which assumes that house prices will halve and unemployment will peak at 12 per cent. The…
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Recovery due next spring
According to two leading business groups’ reports, the British economy will start recovering next spring. The Confederation of British Industries has predicted that any recovery will be ‘slow and fragile’…
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Elderly skipping meals to cut costs
Meanwhile, the over-60s are skipping meals to save money. One in five older people is skipping meals to save on food costs, and two-fifths are struggling to afford essential items…