From The Telegraph:
Mortgage arrears and home repossessions are rising fast among higher earning households, a report by a credit rating agency suggests.The finding indicates that serious housing debt problems caused by the credit crisis are not limited to those on low incomes.The study, by Moody’s, examined the situation of people who on average owed 66 per cent of the value of their home – far less than millions of riskier borrowers. The proportion of homeowners in arrears for 90 days or more had risen by half, the report found. It stood at 0.9 per cent at the end of June, compared with 0.6 per cent at the same point in 2007.advertisementHouse prices are falling at fastest rate since the Great Depression More on construction and propertyMeanwhile the number of homes repossessed among the group more than doubled, rising to 0.082 per cent from 0.037 per cent last year. Daron Kularatnam, a co-author of the report, said: “The percentage of mortgage loans greater than 90 days in arrears has reached the highe…
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