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Consumers Expect a Financial Crash ‘Worse Than 2008’ This Year

Consumers are bracing themselves for a major financial crisis and housing crash this year according to a new poll from Spearvest, the wealth management firm.

Posted: 22nd January 2019 by Finance Monthly
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The study, conducted by independent survey company Censuswide asked 1,000 members of the UK public about their views on the economic outlook for 2019.

A total of 44% of respondents said they expected a financial crisis worse than 2008. Additionally, over a third of those polled (41%) said they are expecting to see a housing crash happen this year.

Only 14% of the population said they had forgiven the banks after the 2008 financial crash, according to a new poll from Spearvest, the wealth management firm.

As well as this, there is a significant distrust from consumers that banks have their best interests at heart. The survey found that over half (55%) did not believe this to be true, with only 13% believing they did.

The poll also found that consumers want banks to do more for good causes with 60% believing that banks should donate and fundraise for charities more.

Wael Al-Nahedh, CEO of Spearvest comments:“With widespread concern around the performance of the housing market and the wider economy, 2019 already looks set to be a challenging year for investors. It’s also clear that the financial services industry needs to do much more to win back trust of the public, supporting good causes and demonstrating a genuine commitment to charitable giving.”

(Source: Spearvest)

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