Past Recessions - what were your experiences?

neverdespairgirl

Pobby wrote: »

Ah but we can rest happy in the thought that Prince William/ Harry will be able to whisk their lady friends away to £1000 a night hotels. So if we all end up on the dole and having to hand back the keys we will have that loverly warm feeling that our younger and betters are having a nice time.

Does it bother you he's doing that? I couldn't care less, really.

LilacPixie

I was born in 1980 so don't really have much experience of it. In the early 90's my dad was an engineer working in Aberdeen. We started to see I'm more because there just wasn't the work that there once was, 94 he was made redundant but luckily walked into another job within a few days. My mum always stayed at home with us lot.

I do remember houses not selling for ages and ages. People in the street we lived had their homes for sale for over a year in some cases, 2 houses were repossessed/handed back.

I guess I am from a generation that has only really known HPI and freely available credit. Sadly a large number of our friends seem to have no idea of whats ahead and basically no clue that it is coming.

skintas_2

i remember in early 90s my dad was a quanity survyor he had loads of work, we had lots of treats as kids and holidays to spain, than that all changed. my mum and dad got divorced in 92, my mum was single parent, we had to budget than... i remeber one of my friends they had to move to a smaller house.. the only thing i remember frm then is the music. my mum listened to the radio even more, take that came out around that time, smash hits magazine i used to get every fortnight i couldnt afford it anymore..

PasturesNew

jamescredmond wrote: »

... so: gird up your loins. we'll get through. other generations have managed it. there's nothing to suggest that this one won't either.

A lot of this lot are whiney pansies though. With rights and entitlements.... we never had that before.

PasturesNew

When this thread started, I didn't know the dates the OP was talking of re past recessions. There have been a number, so I wasn't sure which counted.

In the 70s I remember a lot of shortages. Chips used to be a cheap food, staple treat for an evening meal. Then the spud shortages kicked in and chip prices rocketed (15p/bag of chips I remember) so we couldn't afford them any more. I remember I would stand outside the window and look at the people who could afford them. Instead we had parsnip chips, home-made.

Coffee shortages. We started getting some hideous liquid Camp coffee, with chicory (with chicory was a bit cheaper I think) - MINGING!

Sugar shortages. We used honey in coffees.

Supermarket shelves, where the products in short supply used to live, would remain empty ... awaiting any future delivery.

Petrol shortages. Scheduled daily 6 hour power cuts.

My dad was made redundant in the late 70s, spent two years on the dole after working as an electronics engineer for 25 years. Never managed to get any similar job to that ever again. Took a low paid job after 2 years and stuck with that to his retirement.

iltisman

In the 70s I was a member of the resting classes (civil servant) and we liked the recession as it was easier to get served in the pub and no risk of redundancy .
I still have the petrol rationing coupons that were issued but never put into use.

vivatifosi

Oh Pastures, why did you have to mention Camp Coffee? I've spend decades trying to eradicate that memory.

I can recall 4 recessions, of which by far the worst was the early 1970s one. My dad ran a building company and the government threatened to nationalise the building industry (madness).

However fundamentally there is something all the recessions that I remember have in common. This is that life is like a giant game of 'Pass the Parcel' and when the music stops (ie recession starts), those that are left with the parcel, ie debt - especially neg eq but any debt that becomes burdensome - are the worst off. I've seen this every time, which is why I still don't understand the concept of stretching oneself financially.

Spendless

70's- I was at Primary school, so very few memories except I had to come home for lunch cos it was cheaper than a school dinner (pack up wasn't allowed in my LEA till a lot later). I also remember candles being kept in the event of a black-out but don't really remember any happening.

80's - Was at school and then on training scheme till mid 80's and lived with parents, so again don't remember recession directly affecting me.

90's- though I got a job on a decent wage at the beginning of the 90's,my wages were frozen and then went up very little. 7 years later I was made redundant only earning £1,700 p.a more than I'd started on. I'd also bought a house then went into negative equity, not a problem till I had a husband and child and the place was too small. Only managed to sell the place at a profit during the most recent boom.

What are the 'official' years of each recession?

wymondham

More predictions this will be a bad one:

http://www.telegraph.co.uk/finance/financetopics/recession/3919026/UK-Recession-will-be-worst-since-1947.html

any of our older readers recall this one at all ???

vivatifosi

wymondham wrote: »

any of our older readers recall this one at all ???

According to my Mum, their pleasant middle class house was repossessed when my Granddad's business went under. She then ended up sleeping under her coat in a shared bed and could only go to school for half of the days as she shared a pair of shoes with her brother. I really hope things don't get that bad!