Homeowner housing equity through the downturn [electronic resource]
Language: English Series: Housing Finance ; (1) 2009Publication details: 2009Subject(s): Online resources: Summary: In the wake of the global credit crunch, considers UK housing market conditions and housing equity and compares this with the property cycle in the 1990s. Estimates the scale of negative equity for UK homeowners and looks at what this means for market prospects. Suggests that about 13% are now in some degree of negative equity. Highlights that negative equity does not of itself affect the ability to keep up mortgage payments or create a risk of repossession. Concludes that it is vital that borrowers do not voluntarily give up possession of their property when negative equity arises.Summary: The estimation method used is set out in an accompanying technical note (see L147223).| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | Virtual Online | ONLINE PUBLICATION (Browse shelf(Opens below)) | 1 | Available | 147222-1001 |
In the wake of the global credit crunch, considers UK housing market conditions and housing equity and compares this with the property cycle in the 1990s. Estimates the scale of negative equity for UK homeowners and looks at what this means for market prospects. Suggests that about 13% are now in some degree of negative equity. Highlights that negative equity does not of itself affect the ability to keep up mortgage payments or create a risk of repossession. Concludes that it is vital that borrowers do not voluntarily give up possession of their property when negative equity arises.
The estimation method used is set out in an accompanying technical note (see L147223).