Debt concerns cause downcast 2011 outlook
23/12/2010Debt problems seem to be piling up for consumers as the latest research into household wealth suggests many Brits are being stretched.
The monthly Household Finance Index from research analyst firm Markit, shows pessimistic households are being squeezed by a drop in average income together with a rising cost of living.
Making the threat of debt problems even greater is Markit’s outlook which predicts falling house prices and a greater threat to job security.
Economist for Markit, Tim Moore says: "The UK economy looks to have avoided a double-dip recession in 2010, but there is little evidence that household finances have even begun to recover."
Kevin Still, Director of Atlantic Financial Management says: "The increased likelihood of interest rate rises, continued house price reductions and reduced disposable income are three key factors that are likely to impact most homeowners with a mortgage. Many are likely to face debt problems with such a protracted recession, with most already having taken action to reduce household expenditure." 
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