Evidence from the courts fails to support popular 'facts' behind repossessions
Every year since about 2009 there have been headlines warning of a "wave" or "tsunami" of repossessions, which is an argument backed by a rise in the arrears statistics, a rise in long-term arrears and now a rise in court cases being taken by the banks.
Logically, it's a foregone conclusion, and one that has been cried from every rooftop by every vested interest in the debtor space. Empirically, it may not be so.
As part of a team, we observed 1,947 court cases from February of this year until the court recess in late July. What we evidenced through statistical analysis of court outcomes tells a different story.