5 Responses to “Crunch!”

1. Kecia says:

   February 26, 2010 at 11:45 am

   but how many tried to access credit? is the base the same?

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2. Natan says:

   February 26, 2010 at 12:18 pm

   Is this fact a good thing or a bad thing for the economy? I think its good – it means the NCA is working and people are more responsible and the credit providers (Banks, Big retailers etc) can’t con and bully us masses into unnecessary credit.

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3. futurefact says:

   February 26, 2010 at 12:41 pm

   Kecia: The base is the same – each survey went to adults living in communities greater than 500 (i.e. excluding deep rural).
   Natan: it is a mixed bag – when people can’t access credit the economy is restricted (fewer new cars, homes, durables etc.) and jobs are lost BUT as we know SA weathered the recession better than many countries because of our stricter credit controls!

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4. FutureFact team member says:

   February 26, 2010 at 5:37 pm

   People had a choice of answering whether they found it hard or difficult to get credit and whether they wanted credit at all. The portion of people saying they didn’t want credit grew nicely for a few years then dipped last year thanks to the recession. It was healthy in the pre recession days and to a certain extent is still healthy because people are also telling us they prefer to save their money before buying things rather than using credit facilities. We see quite a bit of evidence too that people have been burnt by getting into debt and have learned their lesson. Hope this helps to understand the attitudes.

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   • FutureFact team member says:

     February 26, 2010 at 5:38 pm

     Sorry, I should have said people had a choice of whether they found it difficult or easy to get credit in my comment above.

     Reply