Economy 

Financial crisis and housing crash expected for 2019

Financial crisis and housing crash expected for 2019

Nearly half of UK consumers expect 2019 to bring a financial crash that is worse than 2008, according to wealth management firm Spearvest.

The survey of 1,000 people on their economic views for 2019 found that 44 per cent foresee a financial crisis that is worse than that experienced almost a decade ago.

In addition, more than a third said they are expecting a crash in the housing market at some point during 2019.

Just 14 per cent of those polled said that they had forgiven the banks for their part in the financial crisis of 2008, while 55 per cent don’t believe that banks have their best interests at heart.

Wael Al-Nahedh, chief executive at Spearvest, said: "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."

rachel.addison@ft.com