"Here, we examine four personal finances areas - homes, savings, borrowing and banking - to discover the lasting legacy of the financial crisis.The average UK house price fell from a pre-crisis peak of £190,032 in September 2007 to a low of £154,452 in March 2009, according to data from the Office for National Statistics and the Land Registry.

The UK Office for Budget Responsibility has predicted property price growth will fall to 2.4% by the end of 2019, while estate agents Strutt & Parker have predicted a 2.5% rise a year over the next two years.Meanwhile, accountants PWC have forecast that average UK house prices will rise by 4% a year until 2025.For Britain's savers, the last decade has been a disaster, especially those that had enjoyed decent returns in the years before.In fact. "The best interest rates almost entirely come from these new providers," he said.Yet the traditional big financial institutions still hold around 85% of savings in the UK, with many savers' loyalty repaid by getting little or no interest on their nest-eggs.Hargreaves Lansdown analysis suggests there has been a huge rise in the amount of money held in accounts paying no interest in the last decade, from £48bn in September 2008 to £164bn today. "Resiliency in the face of growing cyber risks is the new threat," Mr Skan said.But there also needs a change in outlook, according to Bevis Watts, managing director of ethical challenger Triodos Bank UK.He said: "The pace of change has been far too slow and more needs to be done to re-purpose banking for good, through greater transparency on how money is used, carbon disclosure, impact reporting and using risk capital weightings to account for environmental and societal risks. Ten years after the financial crisis, and the shockwaves are still being felt on people's finances. Back in 2008, the most likely challengers looked set to be the supermarkets, Tesco and Sainsbury's.

There's no such thing as an average house, and for homeowners there's been a real north-south divide in the last decade in terms of property prices. Get kids back-to-school ready with Expedition: Learn!

"That's because the regulator is looking more closely at how the industry functions, in an effort to protect savers from the lowest rates. With interest rates on the rise, what seems manageable debt now can quickly spiral into problems.There's a completely different banking landscape from 10 years ago, not least because traditional players have been busy closing branches.But at the same time the crisis marked the beginning of the entry of a whole new range of challenger banks.

Although the exact causes of the financial crisis are a matter of dispute among economists, there is general agreement regarding the factors that played a role (experts disagree about their relative importance). Banks then demanded more mortgages to support the profitable sale of these derivatives.

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Not necessarily.

House prices continued to fall in the markets most affected for up to four years after 2008 as demand for housing was impacted by tighter credit availability and weak economic growth.

In a 2018 study, the Federal Reserve Bank of San Francisco found that, 10 years after the start of the financial crisis, the country’s For most Americans, recovery from the financial crisis and the That visible disparity naturally engendered a great deal of public resentment, which coalesced in 2011 in the Occupy

"In the capital, house prices started to bounce back strongly in 2010 on rising employment and increasing numbers of overseas investors, he said.

Effects and aftermath of the crisis.

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History at your fingertips Ten years ago you could get 5% on instant access savings, more than 6% on a one-year bond and 7% on a five-year bond from well-known established high street names.Now the best rates are nowhere near as generous, with just 1.35% offered on instant access, 2.05% for one year and 2.70% for five years.According to James Blower, founder of The Savings Guru, around 30 new banks and 40 new providers have entered the savings market since the crash.

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