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Family Man

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  1. I can trump that with 80% drop . Speaking to a large Porsche dealer delivery driver the other day - last year 150 delivered on 1st september this year 30 - his words were "its dead - completely dead." September will be horrendous for new car sales my guess at least 30% down - I work as a subcontacter within the trade - everyone is suffering although some may have the odd purple patch.
  2. I think HUW touched on what bothered us. "How safe are the banks" for your Sell to rent fund. We have no mortgage and an opportunity to sell, but our chain broke down. Four in the chain, FTB pulled out - everyone else wanted to carry on and find another FTB this culminated start of Feb. We were looking at places to rent most of which were for sale also. Landlords made out they were long term and professional (according to the EA) but clearly based their finances on acheiving a certain rental income. We needed 3 bed min for family - I did not want to be moving every 6 months or a year because the landlord went bust. Our aim was to rent for two years and find our final home. So what did we do? We (I) got cold feet. Did not want to have that much money sitting in ten different back accounts many of which were subsidies of other banks and when all is said and done if they want to stop you taking the money out they can. They've given the banks a £50 billion pound bailout which could rise to £100 Billion probably much more - the banks can't cut interest rates and GB is trying to back track on the 10p rate of tax fiasco. In case you hadn't noticed the banks are insolvent - now is not a good time to be connected to a bank be it as a mortgagee or a saver. I am in no way envious of STRers, if I was one I'd be worried - at least I have some control over my shelter. My plan is to save some money for another deposit and spend two years finding a nice area to live in ( if such a thing exsists then), while eating my food stockpile, I will rent out my current house and buy another when prices have dropped 50%. Your decisions are based on how bad you think this is going to be. I'm planning for the worst and if it does not happen great, I may lose out on 150k but my house was bought as a home something we've completely lost sight of. Everyone is looking for the easy/fast money thats why this is going to be so bad, I doubt even the HPC veterans realise how much debt is out there in real terms - I think the government is starting to hence their panic.
  3. I thought by clicking on "View New Posts" top right of your screen alongside "my controls" you get to see all new posts ? I don't believe I ever missed any relevant posts as a result.
  4. I must confess this is something I am looking into. How long from start to finish did this take ?
  5. You're right there, this has been in the news. The only one bucking the trend is Tesco - but with pubs closing, petrol prices high, people are clearly buying more at Tesco for nights in/entertainemnet etc and cheaper fuel.
  6. You are right. I think you have to limit exposure here, trust/integrity is a big thing and without it society crumbles. When GB first took over I was willing to give him a chance - maybe it shows my naivety. But I thought now is your chance to establish trust - if he'd called an election I'd have voted for him even if he lost he would have been able to hold his head high. I can't stand TB and Labour or any politician for that matter. As it happens I'm glad he didn't because it has given me the chance to see his true colours. I'm guessing but I think mine is a popular view - which means without a huge change we have a poor future.
  7. Update Since starting this thread I have let one employee go - for gross misconduct rather than redundancy. These last two weeks have been very slow - this could be due to half term or easter but year on year from Jan the trend is downward. Our customers report business as very slow although starting to pick up which we are seeing. Yesterday (Friday) I had three different people looking for work, all english. One remarked that everyone was quiet and there did not seem to be any jobs about. The other two young guys were upbeat and positive which was good to see. How's everyone else doing?
  8. Found this site by google -as 2929bt. I am a home owner this means I own my home. I run a small business and use this site for information to plan for the future. Despite the very obvious nutjob or two on here - there are some people with inside or inciteful info which can help you make more prudent decisions. But there are also people here so stuck in their views that even when they are proven wrong they cannot admit it - this can spoil some threads of real interest and gives the media the HPC nutter ammo to shoot us with. To anyone new visiting I would say sift through the brown stuff and look for the long non religious threads. But prepare to become very cynical - on Bloomberg last night they had a banking analyst on who said the stock market had risen because we are reaching the bottom of this banking crisis. I guess they have to say this but I do find their ignorance/lies incredible.
  9. In answer to the OP I think it depends how bad you think the crash/recession/depression is going to be. As I have a family I would rather have the basic need of security/shelter. A large sum of money in the bank is no good to you if you cannot get at it. If you read lots of the information on HPC even the seemingly crazy scenarios have something to offer. Lets face it the government/Financial institutions don't give a sh1t about us - they will lie right up to the very end. Look at the chairman of Bear Stearns two days before they went under - he said they had no liquidity problem - you can't trust these people. IF we get through this and you own ur house outright I'd imagine there would be a strong rental market as many burned people may be reluctant to ever buy a house again. If you had to move you could rent your house and probably not be as indebted to a bank - at least a house/land is tangible. Currently there are lots of houses up for sale or to rent which ever comes soonest. How secure is anyones rented accomadation - a friend of mine has been given two months notice. He has the hassle and expense of finding somewhere else to rent. As you probably guessed I'm trying to plan for the worst - but with the stuff thats happened and stuff like this going on http://en.rian.ru/russia/20070327/62697703.html you can hardly blame me.
  10. I think belt tightening is the main reason - as a by product of all you mentioned. Car sales are slow petrol expensive, no wonder Porsche are taking on Ken Livingston. Porsche are feeling the pinch. Having said that there is still a lot of money sloshing around out there. The internet is a good place to start - once you have a quote from a broker you'll be in a better position to knock a few quid off at the dealership. Last week of march might be a good time to try at your local dealership. I still don't think your average person has any idea how bad the credit crunch is going to be or a real understanding of it - it's just a fashionable phrase at present. If I had not come across this site I'd be the same. Even with this site you have to wade through the endless nutjobs (scarlet whats her face springs to mind) to get to those with the real interesting information. I do feel if those small businesses keep posting how things are - we will get a feel for how the economy is really going. I should have a few interesting Anecdotals in a few weeks - at present I don't want to tempt fate
  11. I have been pushing very hard for new business and doing work where ever I can and things have picked up but we are a long way off being booked solid. Others in my line of work still report things as very tough largely because new and used car sales are so slow - although some Vauxhall dealers describe themselves as quite busy and say this is due to people "downsizing" their cars. See from the main HPC page that John Lewis reported a similar Feb http://business.timesonline.co.uk/tol/busi...icle3419849.ece Comforting in a way to know that its out of your control. HPC can be quite a negative forum and in this climate you have to stay as positive as possible, but its rather like watching a a very good disaster movie. My excuse is I have to be aware of whats going on so I can at least try to plan for it.
  12. Been in my current business for almost nine years and employ four people. Its connected to the car industry and our customers are trade and retail. While we are somewhat seasonal I and others have noticed how slow things are at present. I tend to judge how the business is doing over the quarter rather then on a weekly or monthly basis. While January turnover was up on last January - February has dropped off a cliff its the worst I can remember. We are in no real danger yet as we have cash in the bank - but staff having been joking about whether they will have a job soon - try as I might to reassure them I can see they are worried. My attitude is that experienced staff are the business, and to batten down the hatches and tough it out, things maybe difficult for a while but you come out the other side to pick up the extra work when things pick up. There are very few positive pockets of feedback from our customers - I would say 80% of them are really finding it tough, some of the worst doing less then 20% of their target sales figure for January!!. How is your business doing at present?
  13. Going to Oz tomorrow for a month to check it out. If we like it we will leave hopefully within a year. Reasons for leaving?? where do you begin there is so much you could point to. If I had to condense it down I'd say a lack of integrity or honour among those that we have elected and the lack of space. More people crammed into the same space more traffic and no sign of it ending. Corruption and sardines filters into your life in a variety of ways and the future looks very bleak. GB has said we are the financial hub of the world and we all know money does not bring happiness yet this is what the country is set up to chase - money. We're not going to manufacture anything anymore. I hope we all like OZ cause don't know where else I like that is far enough away from it all.
  14. no such thing as disposable income as for insurance, don't get me started :angry:
  15. RT gone home for the day. Job of the RT is for customers who may be thinking about switching providers, paying off their mortgage early or any change in your borrowing facility. Call centre chap was unaware RBS owned "one account" for devilment I mentioned the what happened at RBS branch regarding changing mortgages. Apparently they are seperate entities and there would be no crossover of information. Just coincidence then
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