It doesn't seem long ago that you couldn't pick up a newspaper without being bombarded with stories about how house prices were continually rising. 'That bloke down the pub' would always be talking about how he had made a 'huge profit' on a house he bought less than a year ago. It was all a bit mad, to be honest. Now we seem to have arrived at the opposite extreme. Endless arm-waving, hair-tearing newspaper articles about how house prices are falling and the world as we know it is going to end - all thanks to the credit crunch. You could be forgiven for wondering what's really going on - and whether things are really as bad as they are made out to be. The truth is that what's good for some people is bad for others - just as it was when prices were rising. Here are five ways that people are benefiting from the credit crunch - despite what the doomsters say: 1. House Prices Are Falling Yes - the biggest downside is also the biggest upside. It's not just priced-out first-time buyers who are benefiting, either. Existing homeowners who want to move to a bigger house generally save money when prices are falling. The reason for this is that more expensive houses fall more in value than cheaper ones. This means that the price difference between your house and the one you want to buy gets smaller when prices are falling. 2. Interest Rates Have Gone Up Mortgage holders may be cursing rising interest rates - but every cloud has a silver lining. Savings interest rates have gone up considerably for the first time in years. That means that savers are actually earning more from their savings than they have done for some time. First-time buyers are benefiting from this trend too - by sticking their deposit savings into a high interest account, they can watch their money grow at the same time as house prices are falling. 3. Now Could Be a Good Time to Retire Rising inflation is hitting the headlines nearly every day and there is no doubt that food and energy prices have risen. On the other hand, high savings interest rates mean people living on income from their savings - like pensioners - have seen this income rise. Annuity rates are strong too at the moment - meaning it's a good time to be buying an annuity to fund your retirement. 4. Your Daily Commute Could Get Quicker High fuel prices are hitting home with consumers and discouraging people from using their cars when they don't really need to. As well as helping the environment, this means that there are fewer vehicles on the road. A recent study has found that 6% of us are driving less - good news for gridlocked commuters. 5. UK Tourist Industry Benefiting Tighter holiday budgets mean that more Brits are spending their time off in the UK - whether it's camping, staying in a B&B or just taking day trips out. A survey in July by Lightspeed Research found that 58% of those questioned said they were more likely to have a holiday at home this year and just take day trips out because of fears about the economy and the effects of inflation. Bad news for foreign resorts - but good news for UK visitor attractions and the people who work there. Is That All? I admit that not all of these benefits will apply to you - but they are real and do provide some balance to all the bad news the newspapers seem to feel is good for us.