UK Consumers' Attitudes towards Brand and Price

The global economic recession experienced in 2008 and 2009 was as a result of poor banking policies adopted in the United States. The federal government implemented a policy of deregulating sub-prime mortgages in the country leading to massive investment in the policies. Many investors borrowed money from banks to purchase sub-prime mortgage policies. By definition, sub-prime mortgage are policies with a high risk of default. The heavy investment in these policies caused an economic bubble which bust in 2007 leading to huge losses by the banking industry and the mortgage industry. As a result of the increasing rate of inflation as well as the rising oil prices in the global markets, many sub-prime borrowers were unable to repay their mortgage loans.

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