Hundreds of thousands of homeowners trapped in negative equity

Hannah Nemeth

housetrap.png

Hundreds of thousands of homeowners across England and Wales who bought properties at peak prices in 2007 – just before the recession – are now in negative equity, according to new research.

Hundreds of thousands of homeowners across England and Wales who bought properties at peak prices in 2007 – just before the recession – are now in negative equity, according to new research.

Average property prices in 53% of towns and cities across the UK are still below average prices in 2007, data from online estate agent HouseSimple.com has revealed.

read more

Source Moneywise http://ift.tt/1Ucw8O6