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Profit from housing problems

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Demand for rented property is rising because far fewer people can afford to buy a house as a result of the credit crunch. Many homeowners are being forced to sell up because they cannot afford their mortgage. Growing numbers face repossession.
Issue 2110

Demand for rented property is rising because far fewer people can afford to buy a house as a result of the credit crunch. Many homeowners are being forced to sell up because they cannot afford their mortgage. Growing numbers face repossession.

As a result rents are set to increase by an average of 15 percent over the next two months. In London they have already increased by

8 percent in the last 12 months. Average monthly rents stretch from £1,986 in Westminster to £897 in suburban Bexley.

Landlords are also switching from 12 month to six month leases so they can increase rents sooner. It seems the free market will never miss a chance to profit from people’s misfortune.

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