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Executive Sadman

Crack Up Boom Is Here...

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http://www.ft.com/cms/s/0/ff3e1e2e-508e-11e0-9e89-00144feab49a.html#axzz1GrgxnSpb

FSA warns on levels of mortgage debt

Lord Turner said that 28 per cent of new UK residential mortgages in 2010 were for amounts greater than 3.5 times the borrowers’ income, a level not seen since 2007.

Way i see this is even with bigger mortgages in relation to salaries, prices are stagnant or falling. Why?

Wages are stagnant or falling.

Wheres Brown to throw a couple of generations worth of output at unaffordable houses when you need him?

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Dunno whether it's a crack-up one .. but there is certainly a boom going on out there .. On Monday I called my favorite engineering company to ask them to quote for some work. They can't fit me in for a month .. Second fav .. Month and a half .. Third Fav .. Gone bust .. Person recommended to me yes they can do it but only at Sunday rate as that's the only day they have people free .. Random company "driveby" .. Quoted £8600 (Sunday Quote was £1400) but that company seemed dead ..

Because of the deadline I had to buy a pillar drill and bugger it up myself ..

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On Monday I called my favorite engineering company to ask them to quote for some work. They can't fit me in for a month .. Second fav .. Month and a half .. Third Fav .. Gone bust ..

Do you think that the fuller order books of 1 and 2 may be related to the demise of 3?

Peter.

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Do you think that the fuller order books of 1 and 2 may be related to the demise of 3?

Peter.

Almost certainly .. but it's the sort of thing people on here (myself included) have been banging on about for years .. My favourite company is owned by a guy who has been in buisness since 1974, all his machinery is paid for .. and he even owns the premises .. also he will take anything from anyone .. if you walk in the door with a cylinder head .. he will skim it for. Small customers like me .. he's got 100's of them. Test plug for a power station, not been available for 30 years .. He'll machine it from a broken one. They will do anything .. they charge by the hour and it's so reasonable that I often don't even ask for a quote as i know they are not going to stiff me ..

What happened last year is that alot of the contract work dried up and a lot of companies don't like dealing with the great unwashed for a couple of hundred quid .. they want big customers with large orders .. also they have the latest gear and it's all on credit ..

So when my favorite co has the guys on a "standard week" (35 hours) and can do my stuff same day the guys who have £1million in credit are really suffering from lack of work .. and eventually go bust .. so when the "big clients" come back they find the pool of companies has reduced and the work is more expensive ..

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Almost certainly .. but it's the sort of thing people on here (myself included) have been banging on about for years .. My favourite company is owned by a guy who has been in buisness since 1974, all his machinery is paid for .. and he even owns the premises .. also he will take anything from anyone .. if you walk in the door with a cylinder head .. he will skim it for. Small customers like me .. he's got 100's of them. Test plug for a power station, not been available for 30 years .. He'll machine it from a broken one. They will do anything .. they charge by the hour and it's so reasonable that I often don't even ask for a quote as i know they are not going to stiff me ..

What happened last year is that alot of the contract work dried up and a lot of companies don't like dealing with the great unwashed for a couple of hundred quid .. they want big customers with large orders .. also they have the latest gear and it's all on credit ..

So when my favorite co has the guys on a "standard week" (35 hours) and can do my stuff same day the guys who have £1million in credit are really suffering from lack of work .. and eventually go bust .. so when the "big clients" come back they find the pool of companies has reduced and the work is more expensive ..

I`m currently unemployed and work in the engineering game and can say there is no boom going on ,but as you have stated the ones that have survived for the reason`s you have sated ,are doing very well but it is not due to a boom it is due to less competition in the market place ,but I can see very little in the way of job growth ,I have not seen so many people in this game out of work since the early 90`s

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I should have clarified tall this with "This is the gossip around the CNC machine .." no direct personal experience .. I also noticed that there is alot more engineering kit on Go-Industry than before ..

I bet you that if someone with 20 years experience in the engineering buisness and £50,000 went to any bank and asked for a £50,000 loan to start a small engineering firm ,, buying gear second hand at 10% of retail. I bet no bank would touch them ..

Yet .. any property development will get an instant green light ..

I`m currently unemployed and work in the engineering game and can say there is no boom going on ,but as you have stated the ones that have survived for the reason`s you have sated ,are doing very well but it is not due to a boom it is due to less competition in the market place ,but I can see very little in the way of job growth ,I have not seen so many people in this game out of work since the early 90`s

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Test plug for a power station, not been available for 30 years

What does one of those look like? I have a Martindale if that's any use :lol::lol::lol:

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  • 284 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%



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