The crash of the real estate market has dashed the hopes of many Britons who expected to sell their homes this year and move into large properties. The inventory of homes on the market is in excess with foreclosures and the homes that have been languishing on the market for many months. (more…)
Posts Tagged ‘recession’
Recession Forcing Britons to Do Their Own Renovations
Saturday, May 16th, 2009
Is the UK heading for recession?
Wednesday, September 24th, 2008The word recession is one that strikes fear into the hearts of many, particularly those that remember the dark days of the late 1980s and early 1990s. However, over recent months the nation has seen financial markets dry up, house prices plunge, credit conditions become increasingly tight, inflation levels soar, and consumer confidence dwindle. It is therefore little wonder that so many people are convinced that the country is on the brink of recession. With households facing their toughest time in years when it comes to finances many people are unable to spend freely, which is affecting the economy. (more…)
Is Recession Looming? The Queen May Think So
Thursday, April 10th, 2008Since the global credit crunch took a hold in the UK in the late summer of last year, there has been growing concerns over the state of the economy. Consumers were already facing financial difficulties as the result of five interest rate rises between August 2006 and July 2007, and consumer confidence levels had already fallen as a result of financial woes, which were affecting the economy. However, the global credit crunch brought with it a whole host of new problems, making it increasingly difficult for consumers to sort out their finances as a result of tighter credit conditions that lenders put in place. (more…)