Friday, Nov 14, 2008
JCB announces almost 400 job losses
contract Journal: JCB announces almost 400 job losses
The plant manufacturer has already announced over 700 job losses this year but said the extreme deterioration in business levels and confidence around the world has lead to a significant reduction in orders.
*******WITH ALL THIS DAILY BAD NEWS, WHEN WILL HOUSEPRICES REALLY DROP, OR WILL SELLERS CONTINUE WITH STUPIDITY?*********
Posted by mark @ 10:36 AM (908 views) Add Comment
17 Comments
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1. planning4acrash said...
Mark, houseprice crash equals fall in volumes plus fall in price of actual sales. Its far worse than reported. Sales fell from about 45 to 35 thousand last month. As I suggested before, that rate shows no sign of easing, and if it doesn't there won't be a housing market in 6months. The whole industry, based on debt, will not be able to pay usery interest payments and masses of debt will need to be written off. The country will default on its debt, currency devalued over night, importers refusing to deliver, shops empty, roadrunner scenario.
Yet people still won't think about a non debt based gold standard, because they can't possibly imagine gold at 10k/ounce, because even with trillions in bailouts, they can't imagine such a number, therefore it doesn't exist.
2. planning4acrash said...
UK DEPARTMENT OF DEFENCE DOCUMENT
Titled - DCDC Global Strategic Trends Programme 2007-2036
(DCDC) stands for Development, Concepts and Doctrine Centre
This is the DOD Document Alan has spoken about many times in his blurbs and as a guest host. OUR government here predicts food riots by 2011. Also, linked below, is the original blurb where Alan does an in-depth talk on pertinent portions of the text. Listen to the blurb
3. planning4acrash said...
But, even though its from Dept of Defence, I'll still get ranting from the co-incident theorists.
4. mark said...
P4C
Yes i know what you are saying, however when you look around Cheshire many prices seem to be static or have even gone up since the last rate cut, just seems like seller stupidity to me..
5. sovietuk said...
A large number of employers will also reduce the number of working hours for their employees (particularly part time) without making them redundant. These people do not appear in official statistics but the impact will be felt as well. At a time when the cost of employment is still rising this really is a complete and utter catastrophe for people working in the private sector particularly. Vey unpleasant times ahead indeed.
6. jonb said...
When will house prices really crash? I think January / February next year on the Rightmove index, about April/May on the Haliwide indices and August/September on the Land Registry index.
7. charlie brooker said...
No bailout for JCB; they can dig themselves out of hole.
8. Rentinginthesouth said...
>7. charlie brooker
lol, bravo
9. Fjcruiser said...
when is the run on banks coming ? does anyone know ?
10. crash n burn said...
2 houses I've been watching for the last couple of months through Rightmove have just been put down as STC today! Mark, I agree with you… How can this be? Especially with this economic backdrop? What the heck is going on – I want to beat these guys down heavily in their prices, but if similar properties are shifting, then what is going on???
11. inbreda said...
P4AC - if they allow reflation, gold will head rapidly towards where you suggest. However, it means that house prices will not fall by much, peoples debts will be eroded by inflation, and anybody (i.e. frugal STRs) will have the value of their savings wiped out.
HPCers by your scenario are not in the best position.
12. sold out said...
This is really sad news, not only for those who lose their jobs in the short term but also for the UK in general.
If we lose what little Manufacturing industry we have left in the UK, during this recession i fear it may never return.
If this continues at this pace, then house prices will soon become irrelevant,You won't be able to give them away.
I am starting to believe Browns "No more boom and bust" mantra.His timing was a little bit out.
It starts at the end of this bust.
13. Tenyearstogetmymoneyback said...
crash n burn @ 10
Could you keep looking on mouseprice.co.uk and see what they actually sold for
i.e. land registry data then let us know in a few months.
:- Duncan
14. Letsgetreadytotumble said...
crash n burn - I'm using Rightmove and Propertybee.
I'm noticing a significant number of houses moving to Under Offer or STC and then back to Available a few days later.
One EA in Newquay claimed to have sold 5 houses in one day!
Either sales are falling through or the EAs are populating the pages with STC because the Brits are easy to con into panic buying.
I've seen enough instances to get my suspicions exercised.
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