The Housing minister, Grant Shapps, has released the details of a secret report that was commissioned last year by the Department for Communities and Local Government. It was a Labour led report that was compiled by academics at Oxford University and kept hidden from public eye.
The report was put in place to predict repossession order numbers in 2012 and it made shocking reading according to Mr Shapps. It warned that the number of repossessions could spiral to 175,000 in 2012, which equates to 480 every day and is 100,000 more than during the peak of the last recession in 1991. The latest predictions on the number of repossessions in 2012 suggest the true figure will be closer to 55,000.
