Jump to content
House Price Crash Forum
Sign in to follow this  
shedfish

How Has 'the Great Recession' Affected You?

Recommended Posts

i just got back from a planned visit to the jobcentre, to enquire about signing on. found i couldn't bring myself to, so i decided to come back home and spend some HPC time instead

for my part, things are very bad indeed. it's the same for most of my friends and neighbours too

i've arbitrarily chosen a 3 year period, as 9 / 8 / 07 was the day (IIRC) that those 2 hedge funds' subprime books went bang, and suddenly everyone was running round saying 'we're all doomed', including me

so... how has the so-called 'Great Recession' affected you?

Share this post


Link to post
Share on other sites

The GR hasn't affected me very much as I didn't participate in the Great Credit Boom that preceded it.

Was in London last week for work and hotels were full. Shops still pricey. Restaurants packed.

OK, many were tourists, but when I still see that the leafy suburbs of the south are thriving, then the GR still has

Edited by Agentimmo

Share this post


Link to post
Share on other sites

The GR hasn't affected me very much as I didn't participate in the Great Credit Boom that preceded it.

Was in London last week for work and hotels were full. Shops still pricey. Restaurants packed.

OK, many were tourists, but when I see that the leafy suburbs of the south are still thriving, (lots of flash new cars on the roads, Gatwick airport packed to the gunnels with Ma/Pa and the kids jetting off, etc) then the GR still has long way to go. Ask the same question in 2017............. B)

Share this post


Link to post
Share on other sites

Private sector companies have been cutting back for years in preparation for the recession. The public sector is commencing its cut backs.

they are trying to spread the pain.

Share this post


Link to post
Share on other sites

I was made redundant a few weeks back, and have now found a job with a 20% increase. Wife had alot of pay cuts during recession(Contractor) but has now gone back up to her original good rate.

Share this post


Link to post
Share on other sites

Richer than 3 years ago by about £200k total value. I think that means I'm keeping up, offsetting the debasement of the currency.

In terms of purchasing power, that probably means I'm back to not far off my 1998 level, when I had something over £40k and very foolishly didn't buy a house because I thought my own business would be a better use for it.

Share this post


Link to post
Share on other sites
Guest Noodle

I tell you, things are down. Once we were recession proof, no more! You can't blame it all on the Justice Department.

Share this post


Link to post
Share on other sites

More money, more work. More choices. Less return on my savings. So not bad overall. Although work is directly related to this whole mess so will likely dry up in 18 months or so.

I could do with house prices falling nicely so I can buy in cash and just spend the rest of my days having a laugh, playing golf and working when I can be arsed.

You never know.

Share this post


Link to post
Share on other sites

Currently sitting on my **** waiting for a deal to go through so I can set up a new business (wine retail / wholesale / off licence). We are taking on an old Threshers site (they went pop in late 2009). Frustrating issues with the lease have meant too much time on my hands for HPC and other more important things.

We sold our old restaurant business in autumn 2009 (for less than we paid for it due to market conditions) Autumn 2008 and winter 2008/09 was terrible in the restaurant, and we were therefore pleased to sell, despite the capital loss.

I will be happy to have a business with fixed costs of around £40k instead of one with fixed costs of around £160,000, and that is also less reliant on discretionary consumer spending, if / when the SHTF as is possible in the next year or two. Experience from the last few years is that when times are tough, people will eat out in nice restaurants less often, but they will cook nice food at home and treat themselves to a nice bottle of wine.

Share this post


Link to post
Share on other sites

i just got back from a planned visit to the jobcentre, to enquire about signing on. found i couldn't bring myself to, so i decided to come back home and spend some HPC time instead

for my part, things are very bad indeed. it's the same for most of my friends and neighbours too

i've arbitrarily chosen a 3 year period, as 9 / 8 / 07 was the day (IIRC) that those 2 hedge funds' subprime books went bang, and suddenly everyone was running round saying 'we're all doomed', including me

so... how has the so-called 'Great Recession' affected you?

Just get in the job centre and go through the process. What's the problem? It's still summer, you don't want to be working anyway.

Share this post


Link to post
Share on other sites

Switched jobs earlier in the year for an extra 20%. Job is dull as anything but about as secure as one can hope for these days. I might shift again when I remortgage and fix my rate - at that point I'll a bit more secure as I know what I need to earn. At the moment it's too nice making massive overpayments on a super low svr.

Outlook is optimistic, should have paid the mortgage off before I'm 50. I know I'm stupid for buying a house before "the crash" (which was about 5 years ago now) but it looks like the right choice for me.

Of course, as I know from my family's experience, things can change in a moment so I'd never take anything for granted.

so i decided to come back home and spend some HPC time instead

This is a more general statement, but it never ceases to amaze me how much time people invest in HPC (and at one point that went for me too). Some people have 10,000+ posts! Since investing that time in building my own web content that I can monitise I am now pulling in a few extra hundred a month through adsense and the like. Anyways, it's up to all you guys of course, but given that we are talking about trying to save a few tens of thousand ironically not touching this site might just be the answer to your housing needs!

The choice, as always, is yours :). But heck if I can do it (and Im stupid remember cos I bought a house) then surely anyone can...? Or maybe not.

Share this post


Link to post
Share on other sites

Will be ok as long as there's a job.

Poorer because of inflation, ever increasing taxes, and 3 years of pay freezes

Slightly better off because of zirp and having a lifetime BoE tracker (mortgage 1.5x income though so not a lot of money saved)

I fear more for my children more than myself, in terms of their quality of life, security, and being serfs under the jackboot of the EU.

Share this post


Link to post
Share on other sites

back from my interview at the (former) Department of Happiness and Self Satisfaction, looks like i joined the ranks of the feckless for a short while... completely forgot about this thread (along with everyone else by the looks of it)

the poll, while small, has an interesting distribution, with seemingly no net change in 'busyness'... but with pessimism as the overriding sentiment

'what's that all about?'

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.