A lot of talk...

mr.broderick

March september new plates, we do sell new but i like to concentrate on used, more profit more wages etc i am a natural used car salesman.

going2die_rich

Generali wrote: »

Rather handily I just got myself a new job which has the potential to provide extremely well for me and my family. I should be able to afford something very nice in a couple of years. All the more so if prices fall but I'll do ok either way.

Does your company have a last in first out policy? It's not just house prices that are being effected by the credit crunch. Plenty of businesses are feeling the pinch and will continue to do so until confidence returns. So if your company took you on thinking things are going to keep going up, but now the skies are looking grey, will they start considering getting rid of people?

Not to scare you, but I wouldn't go relying on anything right now. Plenty of people think they are going to pick up bargain houses in a few more months, but they could also be facing redundancy at the same time of finding these "bargains" so not be able to afford them even if it was to happen. Or worse still buy the house and then be made redundant, giving someone else an even better bargain.

Turnbull2000

Land registry for North Tyneside;

Average 139K Quarter -8% Annual -2.9%

For sale and to let boards are everywhere. Some regional statistics posted on the HPC Newcastle thread seem to explain why;

Look at how the number of property sales is collapsing in NE1...

2008 to date 11 sales
2007 198 sales
2006 531 sales
2005 362 sales
2004 349 sales
2003 431 sales
2002 339 sales
2001 163 sales
2000 132 sales

That is truly off a cliff. But what about residential areas like NE11?

2008 34 sales
2007 399 sales
2006 411 sales
2005 331 sales
2004 366 sales
2003 392 sales
2002 334 sales
2001 332 sales
2000 374 sales

If this year's figures are Jan-Mar and the trend continues through the rest of the year (remembering the supposed Spring bounce), sales in NE1 will be down 78% and NE11 will plummet 66%.

So yes, all evidence points towards a remarkably smooth levelling off...

Paul_N_4

mr.broderick wrote: »

I have been browsing the threads for the last couple of weeks without actually giving much input myself.Since the downturn octoberish we have had 7 months now of crash talk, guessing crash percentages etc. I feel the storm is weakening and consumer confidence returning, i base this on a record month for us this month in the car trade, maybe we are just bucking the trend but i feel confidence is returning. I'm wondering if we are entering a period of stagnation, maybe 2 years. Was just thinking of the people in rented to be honest, who may find themselves living under the LL for a lot longer than expected, what are your views on this?

I think the title of your thread sums you up entirely.

Generali

going2die_rich wrote: »

Does your company have a last in first out policy? It's not just house prices that are being effected by the credit crunch. Plenty of businesses are feeling the pinch and will continue to do so until confidence returns. So if your company took you on thinking things are going to keep going up, but now the skies are looking grey, will they start considering getting rid of people?

I'm a partner and it's a very small firm so it doesn't really apply to me. The only ways for me to lose my job realistically are:

1. Get arrested for something embarassing
2. Fck up
3. Company doesn't do well enough to justify being in existance

#3 is possible but only on a 2 year horizon. We're FSA regulated and have a lot of reglatory capital put aside so going bust is incredibly unlikely.

#1 and #2 I try to avoid as a matter of course.

going2die_rich wrote: »

Not to scare you, but I wouldn't go relying on anything right now. Plenty of people think they are going to pick up bargain houses in a few more months, but they could also be facing redundancy at the same time of finding these "bargains" so not be able to afford them even if it was to happen. Or worse still buy the house and then be made redundant, giving someone else an even better bargain.

I know what you mean. If things go belly up then I plan to take the kids to a nice quiet corner of Aus and sit on a beach watching them grow up. It's not such a bad fall back position.

MissMoneypenny

Generali wrote: »

I'm a partner and it's a very small firm so it doesn't really apply to me. The only ways for me to lose my job realistically are:

1. Get arrested for something embarassing

..................................

If things go belly up then I plan to take the kids to a nice quiet corner of Aus and sit on a beach watching them grow up.

I didn't realise that having a criminal conviction was still a requirement for Australia?:D

MrDT

mr.broderick wrote: »

i am a natural used car salesman.

you know, mister b, this fact really does shine through when you post on the boards...

Generali

MissMoneypenny wrote: »

I didn't realise that having a criminal conviction was still a requirement for Australia?:D

Yeah, the immigration people at Sydney love that gag. Especially from Poms.

Datasafe_2

mr.broderick wrote: »

I feel the storm is weakening and consumer confidence returning, i base this on a record month for us this month in the car trade,

Of course we can make all the cars we like, the actual trick is selling them......

dopester

Wishful thinking Brodders.

Sourced from HPC, & thanks to Red for bringing my attention to these informative clear graphs.

The Psychology of the Bubble


Iveseenthelight is still dancing on top of the "New Paradigm peak", singing happy songs for all his worth...




And more importantly sellers haven't yet come to realise what is in store for them.... holding out for near top-of-the-bubble prices that are unrealistic, all but for a few buyers who haven't yet come to also realise what the new reality really is.... those with independent means or those "lucky" enough to be given enough lending rope by the lenders may the ease the first parts of the crash, whilst restricting credit, with most buyers smart enough to understand the situation of why risk capital loss.