How bad will it get?

wymondham

Trollfever wrote: »

Just to add:

The Government is bust.
The Banks are bust.
The People are bust.

god, i'm really depressed now!

PasturesNew

RightMove is littered with plots of land and entire developments with planning permission up for sale.

These were never there before. Now if you want a plot of land in most areas there's a choice of 2-3 plots. In most towns you can find larger developments for sale. . . and prices dropping.

Here is a link to one. The original plan was: buy up an aged hotel, demolish it, get planning permission for holiday flats, sell off plan, "build it and they will come". Only they didn't. The plot sits there behind its metal shuttering. Presumably none sold off plan (although I wonder what would happen if they'd sold one?)

Starting price for this single plot that started life as just a normal, bit tatty, private hotel.

Starting Price: £1.7million
Current Price: £1.2million
Here's the artist's impression: http://www.movewithus.co.uk/interface/propertyImage.asp?id=2275323
Here's the RM link: http://www.rightmove.co.uk/viewdetails-20046461.rsp?pa_n=1&tr_t=buy

Or another one, same developer:
It was bought as a surfing lodge located on a residential road (no sea views), demolished, planning permission obtained for 14 2-bed flats - all on RM for sale off plan. Obviously, again, no buyers. So plot put up for sale.

Starting price: £1million. Under offer, withdrawn.
Current price: £800k.
RM Link: http://www.rightmove.co.uk/viewdetails-20046464.rsp?pa_n=1&tr_t=buy


THOUSANDS more across the country like these.

Within one mile of these two there are 13 other plots of varying sizes for sale. Eight out of the 13 are for developers/development. Five are for building one house.

Glen0000

ic wrote: »

Why would there be a bad spell in construction approaching? This country is massively short of housing, so builders are going to be busy for some time to come surely? I'm sure new build houses are always going to sell at a profit, regardless of what the market says they're worth.

I have 3 mates in construction. 2 have been laid of and one has had to take a 60% pay cut, all within the last 6 weeks. The poor blokes all have familes and 2 of them are talking of having to downsize if the work situation gets any worse.

As a FTB I am praying for a crash, but seeing my mates suffering like this is very upsetting.

phil_b_2

Trollfever wrote: »

Just to add:

The Government is bust.
The Banks are bust.
The People are bust.

Fortunately people like you are few and far between.

PasturesNew

Every day that anybody goes into work is a day they might be laid off.

This has pretty much been true of most of my life, but most people don't realise just how close they are to it. They think their job is safe.

To me, I have the viewpoint "I have a job today, by 6pm today I will know if I have a job tomorrow".

Most people have never known a downturn. I've probably been hit by more than any other person ... I've been known as the Black Widow in jobs because of my ability to consistently only join companies that are about to sell up/close down/relocate/downsize/get taken over .....

I've probably been laid off at least once a year for the past 25 years.

Makes your CV pretty grubby looking, as if it's your fault... so maybe I just become more attractive to poorer companies because of my ability/skill set and they hire me in their last dying moments. Too little, too late.

phil_b_2

Jesus PN, what industries have you been working in? You know how to pick 'em eh?

I dont think I know anyone who has ever told me they have been laid off. Most of my friends have been in the same job/company since leaving college 7-8 years ago. I've been self-employed and taking my pick of work since leaving uni in 04/05.

There seems to be an overwhelming amount of pessamism and gloom around these forums that doesnt exist out in the real world. Maybe it just hasnt filtered through yet, or maybe it never will.

amcluesent

Inflation in assets like food/fuel is a temporary thing. The effect of these price rises, together with our massive debt based on now disappearing 'easy' credit, will shortly cause a major depression and ALL asset values will collapse. We've started to see this in housing, soon every asset (industrial plant, stock, metals inc. gold, etc.) will collapse in value as everything is sold off/reposed. As we've seen, even 'prudent' people are brought down as their assets as stolen by the government to try and avoid the meltdown by massive bail-outs. 12 months from now, with 2m laid off, unemployment and bankruptcies will mean rioting across Britain.

LillyJ

PasturesNew wrote: »

Every day that anybody goes into work is a day they might be laid off.

This has pretty much been true of most of my life, but most people don't realise just how close they are to it. They think their job is safe.

To me, I have the viewpoint "I have a job today, by 6pm today I will know if I have a job tomorrow".

Most people have never known a downturn. I've probably been hit by more than any other person ... I've been known as the Black Widow in jobs because of my ability to consistently only join companies that are about to sell up/close down/relocate/downsize/get taken over .....

I've probably been laid off at least once a year for the past 25 years.

Makes your CV pretty grubby looking, as if it's your fault... so maybe I just become more attractive to poorer companies because of my ability/skill set and they hire me in their last dying moments. Too little, too late.

Wow PN that is very unlucky indeed! Both my parents kept with the same company they had when they left uni until my Dad retired a year ago! My OH has a job from which he can't be made redundant and my friends who were in my year at school have mostly been with the same companies ever since they left school or uni.

No offence but please don't come and work where I do, you sound like you are bad luck!

clobber_2

We should set up an investment club. Send PN in, let company go down the pan, buy cheap and then sack PN. Send PN to the next company we fancy while the original co recovers and so on.


Within 5 years we'll own Micro$oft and HSBC.

PasturesNew

LOL/you two (last posters)