Housing CRASH with prices starting to fall and recession fear as interest rates spike

Housing CRASH with prices starting to fall and recession fear as interest rates spike

Britain on a tightrope: just how bad will a recession be? The Bank of England stunned the City with its forecasts of economic doom. Jill Treanor asks whether the UK is staring at mass unemployment once again Liz Kemp saw how customers reacted to the cost of living crisis in April. When energy bills increased by 54 per cent and everyone was talking about prices outstripping wages, customers in her Yorkshire shop started to spend less. “It was like someone turned the tap off,” said Kemp, 59, whose Kemps General Store & Bookshop sits proudly in the centre of the historic town of Malton. “People suddenly got a little bit panicky.” By her reckoning, spending has fallen by 10 per cent and customers are now more selective. “People come in …
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