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Is There Life After The Credit Crunch?

As the credit crunch continues to bite deep into the heart of the UK economy many thoughts are now moving towards how the economy will look after the falls end and we see some stabilisation. There is real concern that the after affects of the current situation will drag on for many years with large numbers of the population set to be left with very substantial debts.

Credit card debt keeps spiraling higher and with limited funds available to pay down the current debt, never mind refrain from increasing credit card bills, this situation will reduce spending levels when the economy recovers. However, it is the housing market which is set to feel the after affects for the longest after all other sectors have picked up. Negative equity is becoming a real problem and will reduce the number of transactions yet further, even when the economy shows signs of improving.

When you throw in a cost of living which has never been higher, and is unlikely to ever return to anywhere near previous levels, there will be very limited free cash available over the next few years. This will also have a major impact upon the UK retail industry which has had a very rough time over the last few months.

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