How does the credit crunch affects the average person?

Lizalu

lizzylou wrote: »

hi my hubbyworks for himself in construction ,this has hit us very hard as we supply and fix all materials used. these products have gone up at least 10% in the last year! and with petrol as well its difficult to manage. we can't put prices up as there is always someone who will under cut you and therefor will leave us with no work.
Some building companys have sent us letters telling us that they are deducting 5% of our costs because houses are not selling.
Is there anyone else who works in the building trade finding it difficult to manage? x

Strangely enough my boyfriend, a carpenter, has never been so busy. People seem to have given up on the idea of moving house, but are willing to spend a fortune on home improvement. Unfortunately most of this extra work has been swallowed up by diesel costs and this month we've got car taxes, MOTs, insurance and other bills this month so we're just making ends meet.

postingalwaysposting

I really really feel for all of you that this is affecting. I am very very lucky with my situation and I am grateful for that. The credit cruch has only inflicted a rent rise, and I live at home. I do work with other who has cars/houses/children and to see what they go through is terrible and I couldnt be there myself.

What I want to know is what a recession would mean/what would happen. I have tryed to research it but I just get muddled and give up :rotfl:

kpwll

It's not just the construction industry that's laying off workers, First Plus in laying off a load too, and they are part of Barclays.

siross2203

Indout96 wrote: »

To be honest that is probably the reason why you dont see what is coming :rolleyes: (other opinions are available)
quote]

i know what you are saying and (other opinions are available) but i see that as only the most patronising thing any one person could say to me.

I just want to express what i think about the current situation, how it affects me and the industry i work in. i know i am fortunate that i earn decent money for my age, without a degree but then this has come through working hard etc etc.

basically all i was trying to say in my original and subsequent posts is that i dont believe the situation is as bad as the media portray, i dont think that claiming a european recession is imminent is going to help the situation and i think we find that most industries operate in the roundabout way that will provide ups and downs.

i was 5 in 1993 when debt collecters came and took my parents 3 cars, caravan (sad i know) and we were forced to move house to a much smaller place, and they split up and lost their business and were both redered bankrupt. since talking to my dad who clearly knows what it is like and has a very good working knowledge of the situation he and i came to the conclusion that its not as bad as it is being portrayed.

THIS IS ONE GUYS OPINION. I know a lot of you on here have children or have been through IVA / DMP which i can only imagine how stressful it is. this is not me, i dont have those things to contend with, my age is fortunately no reflection of this or my life experience. i hope this doesnt sound too sef-righteous or rude as it is not meant to be but i think it is only fair that people of whatever age / experience can express their views.

for example if somebody came and talked about the effect on daycare or childminding - i wouldnt say a thing because i know nothing about it - ths is why in my original post i talked about things i know things about.

anyway. dont want to end up everyone being negative about things because there is just no point is there!

where my age is a benefit is that i can look back and say "when i got my first car it was 94p a litre (roughly)"

that should make you all feel old

rayday2

To be honest you do come accross as sounding very priveleged and considering what you have experienced then I would expect a bit more tact how many times do you want to post to say how cushy it is for you at the moment?

SingleSue

I remembered the days where everyone was getting in a panic about fuel going above £2 a gallon...that was around the time they started putting the prices in litres to confuse the oldies.

Can't remember what fuel prices were when I started driving as it's complicated... I rode a motorcycle for a very long time and didn't really pay attention and already had my car when people were getting in a panic about the £2 a gallon, don't know, maybe £1.60 a gallon when I got my car?

ali82

Isn't rising fuel prices separate to the credit crunch? I know it all affects your money but fuel prices aren't rising because of the banks clamping down

rayday2

Yes but the more fuel rises the more people struggle with rising costs and the more people default on credit and the more credit costs etc etc its a bit chicken and egg and neither are set to improve.

ali82

Yes I know this I'm just stating that they are seperate issues

Broken_hearted

Just paid 80p for milk which was 56p last time I checked the price. Mortgage is fine as its capped but no idea how to cope with more fuel rises.