Chicken licken syndrome

skap7309

PasturesNew wrote: »

And your product is ...?

Consumer electronics.

whathavewedone

I don't know anyone who's been made redundant yet but a lot are worried.

My husband's customers are cutting back and he will almost certainly have to make at least one redundancy this year/put his drivers on a 4 day week.

Our house went down in value from 436k in Aug 07 to £411k in Oct 08. Probably worth under 400k now. Well, no probably about it.

One of our town's few nice shops has been repossessed I noticed yesterday. Must be because I've stopped buying nick nacks. What's the point when your house is losing money?

Incidentally if Ideal Home, House Beautiful, 25 Beautiful Homes and Period Living go bust it will be my fault too. Used to buy them all every month, now buy no magazines at all.

lana22

whathavewedone wrote: »

I don't know anyone who's been made redundant yet but a lot are worried.

My husband's customers are cutting back and he will almost certainly have to make at least one redundancy this year/put his drivers on a 4 day week.

Our house went down in value from 436k in Aug 07 to £411k in Oct 08. Probably worth under 400k now. Well, no probably about it.

One of our town's few nice shops has been repossessed I noticed yesterday. Must be because I've stopped buying nick nacks. What's the point when your house is losing money?

Incidentally if Ideal Home, House Beautiful, 25 Beautiful Homes and Period Living go bust it will be my fault too. Used to buy them all every month, now buy no magazines at all.

How very odd. Why would you stop buying nick nacks because your house is losing money? Surely you buy nick nacks to make the house look nicer to live in? To stop worrying about whether your house looks nice or not simply because the "virtual" value has gone down is a rather sad state of affairs.

lynzpower

no but a lot of people must have bought this stuff to "stage houses" for selling.

The sales of river stones must be plunging.

Spendless

Seen with my own eyes the closure of

wolworths, jonathon james, perfume shop, the works. miller bros, empire direct, a national lottery kiosk.

1 'normal' pub, 1 pub & restaurant, 1 normal/children's play area type pub

Neighbours hours cut back he is a lorry driver for one of the main supermarkets.

Friend unable to sell her 2 BTL properties last year, one is in the process of being re-possessed.

Relative who runs a nursery says they are 20 children down on their books since this time last year as a lot of parents have lost jobs/had hours cut.

Husband's bosses have told all branches to look at their figures and see where they can make cuts.

WestonDave

Personally have had a 10% cut in pay and hours due to lack of activity, the company has laid off at least 10% of its workforce over the last 18 months which was unheard of prior to then. Unfortunately I've had to be involved in some of the meetings and the human side of this is really unpleasant. At this point in time I have no idea whether the company can survive - I guess it depends how long this continues and how many competitors go under first leaving their remaining customers to us.

whathavewedone

I do still care about my house looking nice. It's just that I'd rather save the money that I would otherwise have spent on fripperies for a rainy day - eg to get out of negative equity and/or in case we get very high interest rates in a few years time.

As far as I know nick nacks don't increase the value of your house but when your home is losing value each month it doesn't make a lot of sense to me to waste money on non essential items.

If I did post on here saying well our house is losing value but as long as we keep spending loads of money on it to make it look pretty we won't end up in negative equity I'd be ridiculed and subjected to lots of posts saying that I will end up repossessed etc etc etc.

Well not if I can help it I won't. So I'll be laying off the nick nacks for a while if it's all the same to you.

Conrad

Well I've had my own mortgage business since 1997 and can report completions are down about 70%. The secured loan providers have all but ceased lending.

Commercial mortgages are pretty much non existant.
Stalled credit will feed into most areas eventualy.

On the plus side my commercial mortgage payment has fallen by c70% and home mortgage will drop by about 60%.

Generali

Well FungusFighter, in summary I guess the sky ain't falling in just yet but it doesn't look quite as high up and steady as it once did.

Conrad

Oh, and my wife took the decision to start working again, working from home. She's hacked off she didn't marry the chap before me as he's now a millionaire!