Essex_boy - 12:44 am on Dec 2, 2007 (gmt 0)

I work in social housing in the UK, I am seeing an increasing number of people that have lost their homes due to non payment of the mortgage.

That cuts across all ages.

Requests for mortgage rescues started coming in again early last year at the time I received around 3 calls a week, now its a flood of calls and we are starting to reconsider doing them again.

House prices on one street in Colchester had dropped £100K from three years ago when sold new, this made the Daily Telegraph property section.

Other homes in Colchester, Balkern Heights etc were proving very slow to sell despite being near the town the center and having the Roman Balkern gate and city walls as a view.

The emphasis these days is for mixed tenure estates, i.e private and council, DO NOT buy on one of these estates, your property will prove hard to sell and will not increase ain value like for like.

So yes house prices are coming down, hold on to your hats for the crash

[edited by: Essex_boy at 12:47 am (utc) on Dec. 2, 2007]