Might just emigrate or something... know any good islands going cheap?
Economic Downturn...
Moderator: Dangerous Bob
I sometimes think that we will all have a happier existence if we don't listen to news.
My company is benefiting from what they call teh "Aldi effect". Luxury goods will suffer, but cheap and in our case "grow your own" are doing well.
Never really understood financial markets and institutions.....not sure anyone does despite the huge pay packets!
My company is benefiting from what they call teh "Aldi effect". Luxury goods will suffer, but cheap and in our case "grow your own" are doing well.
Never really understood financial markets and institutions.....not sure anyone does despite the huge pay packets!
-
Myocardial Infarction
- GSV Regular
- Posts: 1320
- Joined: Thu Aug 24, 2006 7:04 pm
- Location: Residing in the fantasy of my mind!
- Contact:
It's been downturn since November last year, and under my understanding the UK is in recession.
A load of greedy banks are reeping the rewards for ripping off the general public too much and now those people can't and won't pay. Saw it coming 3 years ago and my mum and dad sold their last house end of last year and are now busily sailing round the med.
Everyone is hoping it's going to be all happy and sweet but I think it could end up being a real bad time. Too many people in way too far over their head with 7x salary mortgages and unsecured loans up the wassoo. A bit of financial constraint and less of the blame culture might have averted the problem, but most just spout that the banks must have been right if they would lend it in the first place.
Should lead to some nice house price drops which I'm going to enjoy greatly, already looking at repo'd houses but the vendors are all still dreaming about their true value
they will learn eventually
A load of greedy banks are reeping the rewards for ripping off the general public too much and now those people can't and won't pay. Saw it coming 3 years ago and my mum and dad sold their last house end of last year and are now busily sailing round the med.
Everyone is hoping it's going to be all happy and sweet but I think it could end up being a real bad time. Too many people in way too far over their head with 7x salary mortgages and unsecured loans up the wassoo. A bit of financial constraint and less of the blame culture might have averted the problem, but most just spout that the banks must have been right if they would lend it in the first place.
Should lead to some nice house price drops which I'm going to enjoy greatly, already looking at repo'd houses but the vendors are all still dreaming about their true value
they will learn eventuallyIt doesn't really bother me a great deal as I live at home with the folks still, however i've been eyeing up houses for sometime due to work contract so a house price slash sale is great in my book. The only negative point besides the running costs (increased) of said house would be mortgage options been far worse than say 2years ago. Its going to hurt me and the missus no doubt, but we should manage.
On another note, running 2 cars means I get seriously shafted in the wallet department which is why i've sold 1............. but am saving for another It does really annoy me how much the whole package costs, but that said theres nothing you can really do other than put up with it.
There also seems to be some cracking deals out there at the moment, a good example is clothes, I got basically 45% off some the other day due to slow sales, apparently, pleased me anyway.
Also called into sainsburys and bought the entire shelf of bbq equipment for £4 odd, that was a saving of £20+ ....... I couldn't believe it. Good old weather to blame for that one I think.
On another note, running 2 cars means I get seriously shafted in the wallet department which is why i've sold 1............. but am saving for another
It does really annoy me how much the whole package costs, but that said theres nothing you can really do other than put up with it.There also seems to be some cracking deals out there at the moment, a good example is clothes, I got basically 45% off some the other day due to slow sales, apparently, pleased me anyway.
Also called into sainsburys and bought the entire shelf of bbq equipment for £4 odd, that was a saving of £20+ ....... I couldn't believe it. Good old weather to blame for that one I think.
I think the recession was due in the normal cycle of things, banks just got ****ed up by the US and there own stupidity/greed.
low mortgage here, i bought cheap when the last one started into recovery and the seller needed to bail fast (bad financial and they needed to run away from the debt collector).
low mortgage here, i bought cheap when the last one started into recovery and the seller needed to bail fast (bad financial and they needed to run away from the debt collector).
-
Phant0m
- Advanced Member
- Posts: 331
- Joined: Sat Aug 26, 2006 7:47 pm
- Location: Middlesbrough
- Contact:
i reckon we get all GSV find an island buy it and all move to it and become
The Republic of GSV.
Only an idea
Trying to get a job atm is hard as no one wants to hire people as they are unsure if they will have the work in the future.
The Republic of GSV.
Only an idea
Trying to get a job atm is hard as no one wants to hire people as they are unsure if they will have the work in the future.
[img]http://www.mbeever.co.uk/[GSV]Phant0m.jpg[/img]
![http://www.mbeever.co.uk/[GSV]Phant0m.jpg](http://www.mbeever.co.uk/%5BGSV%5DPhant0m.jpg){kind=link}
I'm just glad I took my mortgage out on my house when the market was normal. its stupid now the house I live in I'd struggle to pay the mortgage on if I bought it today. Feel sorry for all those who are gonn be hit with negative equity but paying 190k for a house that cost 65k 10 years ago imo is madness.