Plus sides to living in an economy on the downturn

moneyistooshorttomention

Only slight tongue in cheek here.

It's an ill wind that blows nobody any good and, whilst not denying the downside to the worsening economy, there are plus sides as well. Those perceived plus sides might differ from person to person.

Anyway, my own personal plus sides, of an "ill wind blowing me some good" are:

- less "development" than there otherwise would be (ie a better chance of green space remaining that)

- reducing the amount of traffic on the road (less noise and carfumes around than there otherwise would be)

- other people taking fewer plane trips than they otherwise would be. One airport shut and others at risk of shutting. Plus side being = less plane noise etc.

Over to you, and appreciating that we will all see different things as pluses and minuses. What are your plus sides you see to that worsening economic climate?

antrobus

Err, what "worsening economic climate"?

Haven't you noticed that the UK economy is supposed to be booming way at an unprecedented growth rate of one point something percent and that we're in the middle of a housing bubble? Have you been asleep?

moneyistooshorttomention

Yep....and I duly spotted those pigs flying overhead too...:rotfl:

mayonnaise

Has the recovery not yet reached Cymru then?

CLAPTON

thinner people ?

moneyistooshorttomention

Okays...now has anyone got any serious thoughts on advantages?

Saltywater

moneyistooshorttomention wrote: »

Okays...now has anyone got any serious thoughts on advantages?

Yes, those with decent LTVs on their houses can raise more capital to buy more Buy to Let's at even better prices from those who have to sell.

:beer:

Bantex_2

I know a few people who have been paying mortgages at less than 1% for the last 5 years. The recession has been a real bonus for them.

moneyistooshorttomention

Whew...yes...those incredibly low interest rates that are mind-bogglingly low to those of us who have been through the Ginormously High interest rates of part of the 1980s and more standard normal interest rates the rest of time.

Good point...which I'd forgotten because my mortgage was finished years ago now, so I never had any of the benefit from that personally.

chucknorris

Bantex wrote: »

I know a few people who have been paying mortgages at less than 1% for the last 5 years. The recession has been a real bonus for them.

I haven't paid off my mortgages, but I have saved about £175k on mortgage interest so far and that may climb as high as £250k by the time that the base rate gets back to a more normal level.

moneyistooshorttomention

Whew!!!! and that's been one BIG financial benefit to you.

Okays...now what about non-financial benefits. My own take on this is in the non-financial benefits I am getting because of the Other People hurting my life factor has improved in the recession. That is, other people aren't creating so much car noise, plane noise and over-development as would have happened if the Third? Great Depression wasn't happening and "things are on the slide" financially.

What non-financial benefits can anyone think of that have applied/might apply to them in the future because of The State of the Economy?