Is it really that bad?
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The recession I mean.
Woolies and MFI in trouble ... not really a surprise.
Every other shop offering at least 20% off everything.
I may be just lucky, but I do not feel any worse off than I did 12 months ago?
OK, my house (if I sold) is worth 15% less than it was in November 2007 - but, I'm not selling so who gives a ****?
My car is worth less than a Xmas selection box, but I'm not selling.
Things are cheaper, shops are offering 20% Off and more, good news.
Petrol is as cheap as it was a long time ago, hotel rooms are dirt cheap (staying in the New Forest between Xmas and New Year for pennies).
VAT is down - small amount, but it adds up.
If I want to buy a car, I now get two instead of one!
If I want a second home it is a Bank Loan, not a mortgage.
I haven't felt any change, just everything is cheaper and everyone seems to be panicking ...... am I alone in feeling immune, or is it actually not that bad?
Puzzelled?
Woolies and MFI in trouble ... not really a surprise.
Every other shop offering at least 20% off everything.
I may be just lucky, but I do not feel any worse off than I did 12 months ago?
OK, my house (if I sold) is worth 15% less than it was in November 2007 - but, I'm not selling so who gives a ****?
My car is worth less than a Xmas selection box, but I'm not selling.
Things are cheaper, shops are offering 20% Off and more, good news.
Petrol is as cheap as it was a long time ago, hotel rooms are dirt cheap (staying in the New Forest between Xmas and New Year for pennies).
VAT is down - small amount, but it adds up.
If I want to buy a car, I now get two instead of one!
If I want a second home it is a Bank Loan, not a mortgage.
I haven't felt any change, just everything is cheaper and everyone seems to be panicking ...... am I alone in feeling immune, or is it actually not that bad?
Puzzelled?
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Indeed, for those not at risk all they've noticed is less outgoings and cheaper stuff. In fact, someone who is secure, with a good credit record and some savings could be buying a 2nd home now. One example I looked at the other day - sold for 140 a few months back, half way through renovating it, repossessed, 75k should see it bought. With 20% deposit, that's £350/month. Wait for things to pick up again, sell.
It seems too easy........
It seems too easy........
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Well I can honestly say, I hope people who aren't falling on hard times continue in happiness, and don't find themselves in a bad situation.
Unfortunately this isn't the case for everyone, and I feel for people who aren't so fortunate. I personally don't think it's very nice to say the least, to act smug, during times when some people are really struggling.
Unfortunately this isn't the case for everyone, and I feel for people who aren't so fortunate. I personally don't think it's very nice to say the least, to act smug, during times when some people are really struggling.
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In fairness, a large proportion of those struggling are like my neighbours who've remortgaged their house repeatedly, always keeping their mortgage bigger than the value, and now they face a plummeting house value have considerable neg equity and are paying most of their wages to service an interest only repayment on a house that is worth less than they owe on it, while facing possible redundancy.
Reckless is one word that springs to mind, retarded another.
If I lose my job (Tier 1 Automotive OEM - likely) it'll be ****, but I have contingencies. I can afford to scrub pots or whatever until the worst is over - it won't be ideal but I won't lose my home. I have cut my cloth suitably, and find it hard to have sympathy for those who didn't.
Reckless is one word that springs to mind, retarded another.
If I lose my job (Tier 1 Automotive OEM - likely) it'll be ****, but I have contingencies. I can afford to scrub pots or whatever until the worst is over - it won't be ideal but I won't lose my home. I have cut my cloth suitably, and find it hard to have sympathy for those who didn't.
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I don't think its smug at all, when I had mates in the trade making 70k+ a year in London not so long ago, when I was on less than half that after spending years more in education, giving me a ribbing. Now the tables have turned and 3 out of the 4 I know well have no work, where is the problem stating it?
Secure jobs pay less, but they always pay.
Secure jobs pay less, but they always pay.
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I don't think its smug at all, when I had mates in the trade making 70k+ a year in London not so long ago, when I was on less than half that after spending years more in education, giving me a ribbing. Now the tables have turned and 3 out of the 4 I know well have no work, where is the problem stating it?
Secure jobs pay less, but they always pay.
Secure jobs pay less, but they always pay.
Like I said, I hope all those who are comfortable through hard times, remain that way, and I mean that.
All I have said, is I feel for people who aren't so lucky. Yes some people will be there through bad choices, but many people only have a certain degree of foresight. Not only that, I do feel for people who have their living on the line, due to the circumstances right now.
I certainly wasn't having a dig at you.
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I see this recession like a bomb going off
there's been a bang and we heard it but we have yet to feel the blast
there's been a bang and we heard it but we have yet to feel the blast
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I agree with Pete, i think all this recession nonsense is just media hype.
I dont know a single soul who has been affected by it, lost their jobs etc.
Couldn't give a monkeys about estate agents, bankers and builders if im being honest.
I dont know a single soul who has been affected by it, lost their jobs etc.
Couldn't give a monkeys about estate agents, bankers and builders if im being honest.
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Similar situation here. Plenty of work with lots more lined up and things have just got cheaper. Of course it could all go wrong in a short space of time but if it does, we have a good safety net of savings to fall back on. We also rent so dropping house prices are all good for us.
My Dad is quite short of work though - he does (designs and project manages but also goes on the tools if needed) period restoration and construction - very high quality stuff on mostly listed buildings. He's got work but could do with more. Most of his currentclients are completely unaffected by the crunch but it's tricky finding more.
My Dad is quite short of work though - he does (designs and project manages but also goes on the tools if needed) period restoration and construction - very high quality stuff on mostly listed buildings. He's got work but could do with more. Most of his currentclients are completely unaffected by the crunch but it's tricky finding more.
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Smell the coffee Lewis
Why don't you post your message on Woolies' website? It might cheer up 30,000 people who are going to have their worst Christmas for years.
You don't, by any chance, have a secure public sector well paid job do you?
Smug sod.
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Why don't you post your message on Woolies' website? It might cheer up 30,000 people who are going to have their worst Christmas for years.
You don't, by any chance, have a secure public sector well paid job do you?
Smug sod.
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We've been trading since 1965 and have never known it as quiet and as a result been put on a 4 day week and its not looking good.
Most of my friends who do various different roles are quiet and two have been made redundant recently after years of service.
My Aunt's was made redundant after 40 years of service a couple of months back after her printing company went t1ts up.
In my opinion it is bad, ok if your in the public sector or in the service industry you might be shielded somewhat but from what i've seen it is bad and could get worse.
Most of my friends who do various different roles are quiet and two have been made redundant recently after years of service.
My Aunt's was made redundant after 40 years of service a couple of months back after her printing company went t1ts up.
In my opinion it is bad, ok if your in the public sector or in the service industry you might be shielded somewhat but from what i've seen it is bad and could get worse.
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Honda, Land Rover, Aston Martin, Toyota in this country all have either recently laid people off, are laying them off, or are having very long christmas breaks- or even out in the community 1 or 2 days a week painting fences! In America Ford and GM have literally months left unless things pick up or more likely they are bailed out by the government.
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If you are in a secure job, and have little or no debt, then it is a fantastic time to be buying. Cars/Houses are only going to get cheaper.
Seriously thinking about either a 911 Turbo or a house next year. Both will be cheaper and within reach (One not both) with little or no loan/mortgage.
Looking to Get a Plasma nearer to Christmas or just after when hopefully the January sales will knock prices further down.
Seriously thinking about either a 911 Turbo or a house next year. Both will be cheaper and within reach (One not both) with little or no loan/mortgage.
Looking to Get a Plasma nearer to Christmas or just after when hopefully the January sales will knock prices further down.
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Clearly many are affected by it - isn't this about the effects on ourselves?
The thing with this crunch is that people seem to be losing jobs and having to take pretty awful work. Previously if you lost your job, you usually got something similar. Now it seems that if you lose it, it's time to work for £6 an hour.
The Chief - what line of work are you in?
We have a lot of Public Sector clients who are okay so far and the one private client (a biggie) is probably one of few that's doing very well indeed.
Stilover - so what's "safe" then?!
I think it's best if you are doing okay at the moment to simply save and build as big a safety net as possible.
The thing with this crunch is that people seem to be losing jobs and having to take pretty awful work. Previously if you lost your job, you usually got something similar. Now it seems that if you lose it, it's time to work for £6 an hour.
The Chief - what line of work are you in?
We have a lot of Public Sector clients who are okay so far and the one private client (a biggie) is probably one of few that's doing very well indeed.
Stilover - so what's "safe" then?!
I think it's best if you are doing okay at the moment to simply save and build as big a safety net as possible.
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All depend on your company, obviously. I work for an Industrial Roofing and Cladding company, and our order book is full up untill this time next year. We are soon to find out if we are succesful on a huge Government funded project that is worth Millions to us. If we get this, we'll have enough work for another couple years. So by that, there will not be a Credit crunch for us.
This then gives me confidence to buy a new house/car etc. Knowing that my wage is guaranteed for a few years to come. By then, we should be out of any Credit crunch and we'll secure more orders for the forseable future.
So my job, I would regard as safe. Touch wood.
This then gives me confidence to buy a new house/car etc. Knowing that my wage is guaranteed for a few years to come. By then, we should be out of any Credit crunch and we'll secure more orders for the forseable future.
So my job, I would regard as safe. Touch wood.
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Stilover - well I could consider our business "safe" - mostly public sector clients with a very large private one too that really as safe as it gets but I'm under no illusions whatsoever - it could all go wrong at any time IMO.
Yours does sound good though.
Got a random email and call yesterday lining a load more work up for us too.
Yours does sound good though.
Got a random email and call yesterday lining a load more work up for us too.
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Think the problem is a lot of people are broke paying back what they borrowed over the last 5 years.
I must admit my girlfriend and I have been concerned that we havnt felt the pinch yet. Everyday on the news we get told that we should be feeling but so far its not got us.
Its very un nerving thinking that any moment this nasty credit crunch is going to get us.
I must admit my girlfriend and I have been concerned that we havnt felt the pinch yet. Everyday on the news we get told that we should be feeling but so far its not got us.
Its very un nerving thinking that any moment this nasty credit crunch is going to get us.
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The reason I'm OK is because I got off the property ladder, stopped 'improving' my home and finished with using any forms of credit 4 years ago. After a year I wondered why the crash I was expecting hadn't happened. After two years I wondered again what was going on. After three years I just waited and decided that what would be, would be. After four years, the crash came and everyone who should have expected this to happen acted all surprised.
People who never sunk money into their homes, never needed to remortgage to pay off their credit cards, never lived beyond their means, never worried about the 'property ladder' - these people aren't in any trouble now. And that's how it should be.
I feel sorry for people who are in the **** now, because that includes lots of my friends and close family. But I made my choice and tightened my belt while everyone else was spending money like water. And I'm glad I did. If that's smug, too bad.
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One thing i've learnt is manufacturing is mostly dead in this country now. i wish i could get out and should have done years ago.
I'm sure even a thick tw9t like me could make some money - after all i see plenty of others doing it.
I'm sure even a thick tw9t like me could make some money - after all i see plenty of others doing it.