Is It Just Me?

thriftybabe

I think I am going to go mad! Had an acquaintance of my OH at the house a couple of nights ago and he thinks that the media are painting a blacker picture than it is. He reckons that everything will be fine by the end of the year. Now he is not the only person to have said this. There a few people I have spoken to have said that things will be fine by April??!! Do not know what is magically going to happen in April! These are professional people we are talking about - what is going on?

I see things getting very black indeed. From our own perspective we have all but paid most people that have worked for us with very little/no prospects in the next few months.

Do you guys think people just bury their heads in the sand or are they just so optimistic?

ess0two

If you did'nt read these boards then perhaps you may have a different view.

Swipe

They either understand a lot less than they care to admit, they have their heads in the sand or they just can't bear to accept reality.

penguine

About a week ago two different people told us that we should buy a house now. One view was that the bottom had been reached. The other was that because there are so many rental properties on the market, that meant it was a good time to buy (?!?).

Lots of heads in the sand I think.

Dan:_4

I think a lot of firms are using the recession as an excuse to cut jobs

Dan:_4

penguine wrote: »

About a week ago two different people told us that we should buy a house now. One view was that the bottom had been reached. The other was that because there are so many rental properties on the market, that meant it was a good time to buy (?!?).

Lots of heads in the sand I think.

I know of 3 people who work in the same building as me all looking to buy around now. Personally I would wait another 12 months, but it seems the already 20% falls with all time low interest rates is attractive enough.

whathavewedone

I agree Dan. Any members of staff who've had a few too many sickies (whether genuine or not) or who have got on the wrong side of someone important or who wasn't that great at hitting their targets when times were good will be culled now. Even firms who are doing well will have an excuse to maximise their profits as they can make the people who are left work 3 times as hard safe in the knowledge that they won't be leaving any time soon.

I also think most people want to believe that things will get better soon whether it's true or not. Nothing wrong with that so long as you aren't getting into debt or raiding your savings...just in case.

As for buying a house, well, better to buy now than 2 years ago! Given the difficulties that there are in obtaining mortgages now, anyone who is buying must have a good deposit and a good credit history. Provided they don't intend to move for at least 5 years it's not necessarily a bad thing. Even on HPC there are bears jumping ship and buying!

Max_Headroom_3

It's simple human nature for people to see future events in a way that suits them best.

Most people have a view of how they'd like things to be, then simply adopt information that supports their views.

This works both ways, those looking for total financial collapse and houses losing 90% of value are doing exactly the same but the other way up.

mizzbiz

There's no historical basis to suggest things will recover so quickly, so i do wonder what people are basing their presumptions on. I don't know of any severe but short lived recessions, so why should this one be any different.

I for one am very worried. it started with hoping house prices would crash, but the fallout from this is much more massive than I could have imagined. The media is just saying it like it is, but when your company is bringing in the henchmen from HR on a regular basis, and your PnL is showing a 4 million loss for this year instead of the 4 mill profit it was two years ago, it's not that easy to be optimistic.

On a seperate note, a lady at work has her house on the market. She bought for £199k three years ago, has it on the market for £230k and is refusing to take lower offers. She was on the phone to the estate agent who had a viewing for the following day. She told the agent that they could come if they were prepared to make an offer of 230k plus, no less and said not to bother if they were planning to make a stupid offer, not to waste both their time! She got into an argument with the agent, who was asking if the reason they were being so stubborn was that they had too big a mortgage etc and didnt they know the state of the market? She said of course she knoew the state of the market but didn't care and not to bother coming unless it was made clear that offers would not be entertained! Can you believe some people!

bo_drinker

Swipe wrote: »

They either understand a lot less than they care to admit, they have their heads in the sand or they just can't bear to accept reality.

I agree. But there are a few who it will pass by and they will not be touched by what is happening, many will be unaware even. The measures being taken to change things don't seem to be making any difference what so ever so what next ??

amcluesent

>Do you guys think people just bury their heads in the sand or are they just so optimistic?<

We all live with the knowledge of the inevitability of death. If we were completely rational, then we really should be debilitated from the our awareness of the futility of existence. Instead we make up stories about "going to a better place", our children are our legacy etc. etc.

>I see things getting very black indeed.<

We're all worried about immigration.