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Credit crunch and repossessions.

Eddie Mair | 11:39 UK time, Friday, 8 August 2008

Figures out from the Council of Mortgage Lenders show that in the first half of of the year 18,900 people had their home repossessed, up a third on the same period last year. That compares to 27,100 repossessed homes in 2007 and 17,000 in 2006

Tonight we'll talk about the situation in the UK, and hear from the US where, just like here, it seems everything is getting more expensive, from the cost of housing and child care, to food and fuel. At the same time, wages have stagnated and jobs losses are becoming more widespread.

Our North America business correspondent Greg Wood visited one family to find out how they're coping:

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And here is Cathy and her neighbourhood:






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