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Friday, February 27, 2009

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Negative Equity

Nearly four million home owners are already in negative equity, according to a leading research firm GfK. Telegraph



Its calculation is derived from 60,000 interviews with home owners, asking when they bought their property, at what price, and with what mortgage. The company also asked whether the home loan was a repayment deal, or an interest-only mortgage.



Combining this information with data from the Halifax house price index, which shows pries have fallen 18 per cent from their peak, it has calculated that about 3.8 million people are paying their mortgage company more than their house is worth.

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