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Unemployment figures sombre news for housing market

The firm say that as we go into the summer, struggling companies are still going bust and making cutbacks with unemployment heading almost inexorably to the three million mark by the end of this year. School leavers and graduates seeking jobs could not be entering a more difficult market.

The housing market will continue to struggle against this backdrop. Redundancy will continue to be the major driver of repossessions and consumers will be very reluctant to take on more debt, even if they pass the ?Herculean mortgage thresholds? being set by banks to get a loan!?

Property Portfolio Rescue which aims to become one of the UK’s leading residential landlords can be contacted at www.propertyportfoliorescue.com

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One thought on “Unemployment figures sombre news for housing market

  1. smellthecoffee says:

    Unemployment is already over 2mil. but what you don’t get with that figure is the numbers on benefits like ‘incapacity’ amongst all the other designations the Govt use to hide the true number of ‘out of work’ citizens. The report rightly points out that the number of people in work has fallen dramatically, but we don’t know how many ‘self-employed’ are effectively unemployed or living below ‘poverty’.

    Clearly the property market is due for further correction….

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