Help, the Sky is Falling

Or so you might think if you read this story in the Evening Standard, which suggests that Lewisham Deptford and Lewisham East have a “higher than average” chance of experiencing negative equity.  The story rates the chances in Lewisham West as being “average”.

Luckily they then qualify the risk somewhat:

It [the credit company behind the story] estimates that if prices fell by 20 per cent, 20,000 households in London would be in negative equity.

The analysis was done by the same company which brought us the press release that proves men are more likely to lie on their CV than women.

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About Andrew Brown

I live in Lewisham, South East London, and spent 9 years as a Labour councillor in the borough between 1997 and 2006.
This entry was posted in Lewisham and tagged . Bookmark the permalink.

5 Responses to Help, the Sky is Falling

  1. I’m sure it won’t be long before they are running stories advising investors to cash in on reposessions….

  2. BrockleyNick says:

    Doesn’t the map just reflect those areas where there have been most purchases in the last year? ie: those areas where new-builds have been most concentrated? eg: The Thames Gateway. Bit of a nothingy story from the ES.

  3. A nothingy story from ES? Shurely shome mishtake?!

  4. Max says:

    Aren’t these the same people that did that map of connectivity where you’d have learned that the historic graveyard of St Mary’s was a hub of online shopping.

  5. Lone Ranger says:

    I know Panorama touched on it but has any consideration been given to the affect on regeneration schemes? If borrowing money is difficult for private individuals what’s it like for large scale developers?

    Would PFI schemes be affected by the credit crunch, as borrowed money costs more.

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