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Foxtons, the now cash-strapped estate agency that came to epitomise the London housing boom, is in talks with banks about a debt-for-equity swap that would see lenders agree to write off between £60m and £90m in return for taking a large stake in the company.
http://www.guardian.co.uk/business/2009/apr/12/foxtons-debt-write-off-business
Posted by: John B
Popularity: 24% [?]
The life expectancy gap between rich and poor people in England is widening, despite years of government and NHS action, a hard-hitting National Audit Office report reveals today.
Popularity: 6% [?]
The life expectancy gap between rich and poor people in England is widening, despite years of government and NHS action, a hard-hitting National Audit Office report reveals today.
Popularity: 6% [?]
An interview on Newsnight with Jeremy Paxman, Gillian Tette, Hugh Hendry and the economist Jeffrey Sachs.
Popularity: 10% [?]
The Renegade Economist team presents an opportunity to learn what’s about to happen in the domestic and global economy, and …
Popularity: 91% [?]
I have just viewed your latest Video concerning politicians and the boom and bust economy that has been created. For 6 years now I have been renting in the private sector unable to buy even with 500k. London house prices have rocketed and I have been gazumped 3 times and lost a lot of money trying to buy a home. I have 3 sons and even now I am unable to house them in anything other than a two bed cottage. I actually feel that the situation with high property prices is immoral. In London the prices do not relate to income at all. There has been a mass greed factor involved here at the expense of generations of people and my own children now permanently priced out of the market. A house should be seen as a home, a basic need NOT an investment. Mrs Thatcher has to accept blame as well allowing the right to buy. No one has the right to buy if they are then going to reduce the housing stock for those on low incomes. Social housing is vital for those who work hard but are unable to afford to buy. I wrote to Lord Turner last month(FSA) and had a reply informing me that my letter would be considered by the FSA. What did I request – well, to limit on lending to no more than 3.5 x income. This would finally control the whole situation for future generations. I am hoping for positive, moral and social change.