Increasing property values suggest that many owners will emerge out of negative equity and may be more likely to enter into consensual arrangements. Some owners will pay a lump sum or re- finance and retain ownership. Others may end up with no overhanging debt and some may end up in court facing repossession. Although no homes are lost or gained in the resolution process, ownership conversions have a number of consequences.
Firstly, so-called ‘frictional’ vacancy...
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