Saturday, Jun 28, 2008
Are people really carrying on as though nothing has happened?
What Investment: Ignoring the credit crunch
A significant number of people are not concerned by the current economic climate and still have their sights on property as a good investment, according to life insurer, Zurich. Less than a third of consumers have reviewed their finances in light of the credit crunch and a fifth of people claim it is a term that has been created by the media. Worryingly, more than a third of people don’t believe that the credit crunch will affect them, in spite of the talk of the housing market downturn, the difficulties of obtaining credit and the rising cost of living.
Tony Solomon of Zurich UK Life, says, ‘It is worrying to find that less than a third of people have reviewed their finances in light of the credit crunch.
If IR go down will these people buy start buying over priced houses again?
4 Comments
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1. landofconfusion said...
Explains why there are so many unsecured loans still being offered. It will change though - just wait for the coming recession.
2. last_days_of_disco said...
Colleages laughed when I broke my five year mortgage three years in, to set the rate for 10 years back in April.
They are not laughing any more.
3. enuii said...
Watch enough soap/reality TV drivel on your box and you can keep youself deluded about virtually anything!
4. letthemfall said...
It's all about positive thinking. If you think all will be well, then it will. Pollyanna was such a lovely film wasn't it? I do so deplore these terrible pessimists.