cockrobin Posted March 25, 2008 Share Posted March 25, 2008 US house prices have dropped at their fastest rate and fears of recession growing! Britain faces prolonged economic misery! Houses in Britain taking longer to sell and gap between asking prices and sale prices getting wider!! Rightmove says prices are 10% below their peak and sellers have to start getting realistic with their prices if they are expecting to sell!! Quote Link to comment Share on other sites More sharing options...
@contradevian Posted March 25, 2008 Share Posted March 25, 2008 How times change. I remember when an economic downturn was signalled by factory closures and redundancy. Now its because we are not selling enough inflated houses to other fools. God, I'm getting old. Quote Link to comment Share on other sites More sharing options...
Lepista Posted March 25, 2008 Share Posted March 25, 2008 How times change. I remember when an economic downturn was signalled by factory closures and redundancy. Now its because we are not selling enough inflated houses to other fools. God, I'm getting old. Don't worry, Rover2000 - You will be seeing this, and much much more in the coming months... Quote Link to comment Share on other sites More sharing options...
Queen of Spades Posted March 25, 2008 Share Posted March 25, 2008 How times change. I remember when an economic downturn was signalled by factory closures and redundancy. Now its because we are not selling enough inflated houses to other fools. God, I'm getting old. I remember it too. Back then our economy was based more on manufacturing which has since been decimated by successive governments. As this 'miracle economy' was in fact based entirely on consumer spending and HPI, it is then fitting that it is within the housing sector that the downturn is reported. Quote Link to comment Share on other sites More sharing options...
deflation Posted March 25, 2008 Share Posted March 25, 2008 How times change. I remember when an economic downturn was signalled by factory closures and redundancy. Now its because we are not selling enough inflated houses to other fools. God, I'm getting old. I was discussing this with a friend today, but we couldn't, between us, agree on the 1st major industry that will be affected. Financial institutions / brokerages and EAs but industry? What is left is a lot of small industries, maybe a major builder? Quote Link to comment Share on other sites More sharing options...
Once in a lifetime Posted March 25, 2008 Share Posted March 25, 2008 How times change. I remember when an economic downturn was signalled by factory closures and redundancy. Now its because we are not selling enough inflated houses to other fools. God, I'm getting old. That's the worrying thing... we don't have an industry anymore. Only house prices ! Now we are going to hear all the belly-acne moaning from those in this industry that will lose their jobs now... Fasten your seat belts. Quote Link to comment Share on other sites More sharing options...
Guest grumpy-old-man Posted March 25, 2008 Share Posted March 25, 2008 That's the worrying thing... we don't have an industry anymore. Only house prices !Now we are going to hear all the belly-acne moaning from those in this industry that will lose their jobs now... Fasten your seat belts. exactly!! & that's why we WILL get 80% drops in price in some areas/property types imo. isn't it 60% of UK gdp in housing & it's associated services iirc ? Quote Link to comment Share on other sites More sharing options...
bobby9983 Posted March 25, 2008 Share Posted March 25, 2008 That's the worrying thing... we don't have an industry anymore. Only house prices !Now we are going to hear all the belly-acne moaning from those in this industry that will lose their jobs now... Fasten your seat belts. The major losers will 'unfortunately' be the poor estate agents, however, those that diversify into lettings successfully will see an increase in income. There has already been major redundancies in financial institutions, this figure will rise. Mortgage brokers if sufficiently skilled can simply give up the easy sell and move to address the more challenging but unbelievably massive 2.4trillion pound gap in the life/income protection market. Anything consumer facing and house builders already are and will continue to struggle. Quote Link to comment Share on other sites More sharing options...
THE BALD MAN Posted March 25, 2008 Share Posted March 25, 2008 How times change. I remember when an economic downturn was signalled by factory closures and redundancy. Now its because we are not selling enough inflated houses to other fools. God, I'm getting old. This is because we do not have factories, just offices full of financial experts and civil servants. Expect to see empty offices though. Quote Link to comment Share on other sites More sharing options...
Guest grumpy-old-man Posted March 25, 2008 Share Posted March 25, 2008 This is because we do not have factories, just offices full of financial experts and civil servants. Expect to see empty offices though. hello TBM, haven't seen you posting for a while. I'm with you on the 'far too many bean counters & financial experts' do you know which departments have been expanding the most in every company I have worked for in the last 5 years....yep you got it......FINANCE. Quote Link to comment Share on other sites More sharing options...
BandWagon Posted March 25, 2008 Share Posted March 25, 2008 US house prices have dropped at their fastest rate and fears of recession growing!Britain faces prolonged economic misery! Houses in Britain taking longer to sell and gap between asking prices and sale prices getting wider!! Rightmove says prices are 10% below their peak and sellers have to start getting realistic with their prices if they are expecting to sell!! Bummer. Quote Link to comment Share on other sites More sharing options...
hankdd Posted March 25, 2008 Share Posted March 25, 2008 I sat on a bench today ,Allerton rd Liverpool, in front of seven estate agents and thoroughly enjoyed my lunch watching them play spider solitaire on their lap-tops. Lots of yawning and trying to look busy. Try it -given that a family ticket for chester zoo is £100 why not go to Greggs and spend the day staring at endangered EAs. Quote Link to comment Share on other sites More sharing options...
Nicolaj Posted March 25, 2008 Share Posted March 25, 2008 I would expect new car dealers travel agents will be hit at least we still have our corner shops and industries won't be hit cause we have none to hit Quote Link to comment Share on other sites More sharing options...
Scott Posted March 25, 2008 Share Posted March 25, 2008 at least we still have our corner shops By this I take it you mean 'Tesco Metros'? Quote Link to comment Share on other sites More sharing options...
Leonard Hatred Posted March 25, 2008 Share Posted March 25, 2008 Midlands Today had a story about spending being 14% down on this time last year, and someone calling for lower tax on small businesses to stop too many abandoned shop fronts in town centres! Quote Link to comment Share on other sites More sharing options...
Guest grumpy-old-man Posted March 25, 2008 Share Posted March 25, 2008 I sat on a bench today ,Allerton rd Liverpool, in front of seven estate agents and thoroughly enjoyed my lunch watching them play spider solitaire on their lap-tops. Lots of yawning and trying to look busy.Try it -given that a family ticket for chester zoo is £100 why not go to Greggs and spend the day staring at endangered EAs. Quote Link to comment Share on other sites More sharing options...
Nicolaj Posted March 25, 2008 Share Posted March 25, 2008 By this I take it you mean 'Tesco Metros'? yes if you like.. though I do have two real corner shops close by ..but for how much longer who knows..after chatting with one of the owners the weekend.. .......................................... Midlands Today had a story about spending being 14% down on this time last year, and someone calling for lower tax on small businesses to stop too many abandoned shop fronts in town centres. Im from the midlands and even the state of the outdoor and indoor markets are desperate ..I've noticed them going down hill since last summer, many stalls closing and no one taking them up. rates to high Quote Link to comment Share on other sites More sharing options...
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