20,000 people ‘could lose homes’

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20,000 people ‘could lose homes’

May 14, 2008
By Thomas Hanson

HOMELESS: This could be the future for many people. Omblus said as many as 15 percent of families who have taken out home loans could be unable to make their payments in the near future.

TALLINN - A leading economist has predicted that as many as 20,000 people could lose their homes because they are unable to meet loan payments. Economic analyst Jaan Omblus told Eesti Paevaleht that a failing Estonian economy could lead to as many as 15 percent of families who have taken out a home loan being unable to meet their payments. “Loss of about 50,000 jobs and pay cuts that could affect up to 100,000 people in the next few years could realistically create a situation where about 20 ...

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