Guest Charlie The Tramp Posted January 4, 2005 Share Posted January 4, 2005 Sushil Wadhwani, a former member of the Bank of England's monetary policy committee, said a housing market correction "could be deeper and longer-lasting than the current Bank of England forecast". Well that`s one side. But many economists thought that a fall in house prices would be nothing that the Bank of England could not offset by lowering interest rates. And here`s the other. Never give up the interest rate cut boys do they. I bet they`re all mortgaged to the hilt. Link to comment Share on other sites More sharing options...
batman Posted January 4, 2005 Share Posted January 4, 2005 Well that`s one side. And here`s the other. Never give up the interest rate cut boys do they. I bet they`re all mortgaged to the hilt. <{POST_SNAPBACK}> I bet they are Charlie. We're cycling towards the cliff edge with absolutely no brakes or rocket boosters. Result = -40%. Link to comment Share on other sites More sharing options...
dpg50000 Posted January 4, 2005 Share Posted January 4, 2005 Luck is always the loosers refuge.We are all born to shit, f***, eat and earn. The decisions you make in life are in your hands. Some eat, some earn and some f*** more. I find most IT people have an in - built over - confidence thinking they have special skills because they help set up each of thier mates home computers. Most however, are nothing special. Many are totaly thick and forget the real world when it comes to programme design (think CSA and Passports systems). Stop winging and become self - employed in something useful. Example - home solar energy panel supplier. <{POST_SNAPBACK}> Sorry, you truly are a tit! "set up each of thier mates home computers" - how does an 85000 person, global, email and authentication system (under budget)sound? It was bloody difficult, and as others have alluded on here, I.T. is incredibly stressfull. I'm not blowing my own trumpet - I worked as part of a project team and we did a good job. Despite this, we still got 2% or less for payrises. Btw, when you talk about programme design, realise this. 99% of the time the customer (who's paying for the job) dictates what they want to see and how it is to work. We simply make their specifications work - believe me, quite often they haven't got a clue how feasible it is to make their "fantasy world ideal of what a system should do" meet reality. When you try to scale them back to what's realistically achievable they think you're trying to pull a fast one, even though they have absolutely no idea of what's involved. End of rant. Quick poll - some people on here are obviously in IT (Oracle, The Masked Tulip, Myself, Dave_The_Vinyl_Junkie). In addition I know several other friends in IT and none of us have got above about 2% in the last few years. How are other people finding it? My bet is that most are getting little or no wage rises. Link to comment Share on other sites More sharing options...
200p Posted January 4, 2005 Share Posted January 4, 2005 Yes, no wage rises - but at least we can make up for short falls by relaxed borrowing Link to comment Share on other sites More sharing options...
oracle Posted January 4, 2005 Share Posted January 4, 2005 very close dgp.Not in IT but I do work in electronics. Yes customers very rarely know exactly what they need and constantly move the goalpoasts,making all the design work we have to do a complete headache...once we have designed something to spec it has to get changed!....and they wonder why so much is over budget or late!!! My firm is in the middle of an outsourcing binge.The factory I work at is probably closing soon and I 've been asked to relocate...oh and my pay rise last year was 2.75%(pay cut in real terms but at least I am one of the lucky sods who gets to keep their job!) Link to comment Share on other sites More sharing options...
letitcomedown Posted January 4, 2005 Share Posted January 4, 2005 Gtr London FTB, In a flat market good individuals salaries usually rise after graduation until they hit a plateau, this is not unusual. But you will hit a plateau sometime before you overtake Bill Gates. But almost every industry is cyclical, you will have a downturn and you will be vunerable. You are being a little naieve believing that good performers will survive a downturn. I've survived through a couple of near-complete industry collapses but watched everyone else go. The underlying reasons for an individual being layed off are usually based on politics, location (particularly regional offices), age, rather than actual performance. I've seen stars go on the same day idiots are promoted. Link to comment Share on other sites More sharing options...
Guest Charlie The Tramp Posted January 4, 2005 Share Posted January 4, 2005 trev Posted Today, 09:11 PM Yes, no wage rises - but at least we can make up for short falls by relaxed borrowing There`s lot of extra cash for you IT guys if you want it. How about 150 quid for three hours work, mainly sitting there and drinking their coffee while the machine and your specialist software you purchased after years of searching does the work. In the past two months I have got a new cooker, hoover, £120 washing machine repair, and my accountants fee for next year, and I am only a self taught computer buff, started just as a hobby 10 years ago. Link to comment Share on other sites More sharing options...
kempstar Posted January 4, 2005 Share Posted January 4, 2005 Quick poll - some people on here are obviously in IT (Oracle, The Masked Tulip, Myself, Dave_The_Vinyl_Junkie). In addition I know several other friends in IT and none of us have got above about 2% in the last few years. How are other people finding it? My bet is that most are getting little or no wage rises.<{POST_SNAPBACK}> Im in IT. I had joined a Company as a graduate trainee in May 2003, starting salary 20k. I had a 1.5k pay rise after 6 months, then, wait for it, £500 as my annual pay rise (6 months later). I started looking for another job the minute I got home. Within one month, I found another job which I absolutely love, as a Consultant. My pay rise from that job to this one was 81% Link to comment Share on other sites More sharing options...
expatowner Posted December 20, 2008 Share Posted December 20, 2008 A PROPERTY market 'rollercoaster' will see house prices in some areas plummet by £21,000 over the next three years, experts warned yesterday. Not even close. Link to comment Share on other sites More sharing options...
jonewer Posted December 25, 2008 Share Posted December 25, 2008 Not even close. Yes, according to nationwide, we're still £8k up on Jan 2005. Link to comment Share on other sites More sharing options...
Fed Up Posted December 26, 2008 Share Posted December 26, 2008 I expect to see 6/7 years of consistent sustained price falls. Agree entirely and only a fool would think otherwise. In income-related terms the overcorrection will push prices right back down to 1995 levels (ie 2.5 times average salary), which would approimate now as about 1999 prices. Added to that for next 2 to 3 years average salaries will remain more of less frozen while food, electricity and gas prices continue to rise (in spite of the energy companies recent announcement of price cuts as these will be reversed next winter), hence disposable incomes will fall. There is no rational reason whatsoever to expect house prices to rise between now and about 2015. Higher inflation devalues our currency but in doing so also lowers disposable incomes when inflationary price rises are not awarded. Link to comment Share on other sites More sharing options...
Recommended Posts