Tuesday, November 09, 2010

The 'Living Dead' of the UK Housing Market.

A report from earlier this month on the 'UK Zombies lurching towards the financial abyss' from Fatom Consulting earlier this month gets coverage in 'This is Money.co.uk' which article is linked from here. The following is the most macabre quote: Economists at Fathom Consulting were a bit late for Halloween with their warning that the UK is in danger of creating millions of 'zombie households', but it is a sobering thought nonetheless.

They were referring to the 'living dead' of the housing market, or people who are so heavily burdened with mortgages and other debts that they are able to stay afloat only because base rates are at a 300-year low of 0.5%.



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