The reason we ask if there is a Credit Crunch, it seems hard to believe that we are actually in one when you see how the consumer keeps spending like there is no tomorrow.
Today has seen nearly every Apple, O2 and Carphone Warehouse store sell out of iPhone 3G’s, if they have not yet then they will do buy the end of the day.
100 Mortgages has raised this point and why spend like we do with the economy in the state it is? Interest rates feared to increase to keep inflation down, house prices dropping, oil prices extremely high and food prices increase thanks to the cost of fuel.
Have you bought the new iPhone 3G today and if so, does it not worry you with budgets getting tighter?
If your in a contract already then we can understand that you can get the iPhone 3G for free on a price plan £45 or more and its only £99 for the iPhone this time.
Some families will need this £99 in the months to come and the £45 a month will be near impossible to find, so looking at the demand for the iPhone 3G today, we guess inflation may keep rising and the consumer is not that worried about the future.
New buyers will have to keep up this contract for 18 months, even if they have no money.
Via 100 Mortgages
Written by Daniel for
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