Almost half of consumers expect a financial crash ‘worse than 2008’ this year

Written by Oliver Wade
17/01/2019

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

The poll revealed that almost half (44 per cent) of respondents said they expected a financial crisis worse than 2008, while 41 per cent have predicted a housing crash this year.

Furthermore, just 14 per cent of respondents claimed they had forgiven the banks after the 2008 financial crash. Consumers also doubt that banks have their best interests at heart, with 55 per cent not believing this they do, compared to just 13 per cent.

The poll also found that consumers want banks to do more for good causes, with 60 per cent believing that banks should donate and fundraise for charities more than they already do.

Commenting, Spearvest CEO Wael Al-Nahedh: “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.”

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