Interesting figures from BoC repossesion arm REMU

[Jimgward]

Would it not be true, that repossessed properties - private houses - would likely be run down and not saleable without a lot of work, also, many within complexes that may be partially completed....

Commercial properties are likely in areas where no money can be made, which is why they would have closed....

[Dominic]

I've read that the developers tend to strip repossessions of anything of value. Surely this lowers the value of the property still further?

[ApusApus]

Or a "toxic" bank is created to sell them on to!


Shane