House prices arrears and possessions

Quarterly Bulletin 1992 Q2
Published on 01 June 1992

Following the house price boom of the late 1980s, the early 1990s witnessed a sharp rise in mortgage arrears and possessions and falls in nominal house prices. This article examines these developments and the interactions between them. Simulations using a small econometric model suggest measures that reduce possessions could play an important role in stimulating recovery in the housing market.

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