Innocents affected by this

thriftybabe

Kez100 wrote: »

These people have had boom years and should have saved to help in lean times.

No they didn't! These are ordinary guys who work for a big housebuilder and are labourers, forklift drivers, site agents etc - they didn't make the profits - the housebuilder did!

Dopester sorry I meant that they have no buy to lets.

I feel rotten for them as they all find out soon and it is going to be hard on some of them.

dannyboycey

A skilled tradesman should never be out of work - it's just a case of what you're doing. Working for a big new-build company at the moment is risky, and rightly so, but there are plenty of safer opportunities. Government funded building schemes and private domestic work for example. You can't run a business designing commodore 64 computer games and complain that business is slow. You have to use your skillset do do something else.

thriftybabe

pickles110564 wrote: »

I agree totally with what you have said, but certain people in your industry give you ALL a very bad name.
Only the other day I was quoted £900 to replace and repair a large area of decking at one of my rentals.
After visiting the site myself I realised he was taking the P*ss, it only took me the morning and £20 to fix it myself.
If he had quoted me £250 I would not have even bothered ckecking for myself.

Unfortunately there is nothing we can do about Cowboys! Our work is primarily new housebuilding however we have another company that does extensions. Did he give you a details description and breakdown of costs for that price when it only cost you £20 to do?

pollyanna24

Kez100 wrote: »

These people have had boom years and should have saved to help in lean times.

I agree with this to a point. I believe I am one of the innocents in that I only want a small house in which to bring up my family. While everyone was going mad spending, me and bf spent frugally and rented out a couple of rooms in our house.

Now I'm pregnant, bf is in the building trade and things could be difficult. But we have buffered ourselves by having savings in the bank and making sure that we can survive on bf's income. If he loses his job, I have to go back to work as it pays more than his anyways.

Think it's all about just being careful with your own money.

dannyboycey

pollyanna24 wrote: »

I agree with this to a point. I believe I am one of the innocents in that I only want a small house in which to bring up my family. While everyone was going mad spending, me and bf spent frugally and rented out a couple of rooms in our house.

Now I'm pregnant, bf is in the building trade and things could be difficult. But we have buffered ourselves by having savings in the bank and making sure that we can survive on bf's income. If he loses his job, I have to go back to work as it pays more than his anyways.

Think it's all about just being careful with your own money.

Your signature mentions a £180k mortgage!???

mrs_deadline

I just wonder how long before this spills into other sectors and the vast majority of us find our jobs aren't recession-proof. Is anyone's job going to be immune?

pollyanna24

dannyboycey wrote: »

Your signature mentions a £180k mortgage!???

Yep. What's your point? I live near London. We are not on massive wages if that is what you mean. Big mortgage, long mortgage.

mizzbiz

mrs_deadline wrote: »

I just wonder how long before this spills into other sectors and the vast majority of us find our jobs aren't recession-proof. Is anyone's job going to be immune?

This is very worrying.

Manufacturing, retail, banking/investment, estate agency, consultants, cleaning (i've heard a few people on DFW talking about letting their 'ironing ladies' go), hauliers (as less goods are bought and sold), supermarkets will batten down the hatches to recover margins where peope start buying 'value' instead of 'extra special'.

The only people I can see being safe are civil servants, especialy those higher up.

Oh, and those in PFI contracts!

Thta's not to be pessimistic. I hope my job will be safe as i'm part of a big company. But I work in manufacturing which always gets a nasty knock in a recession. We're already looking at the worst case scenario and trying to save like maniacs just in case. You just can't be sure.

borntobefree

mizzbiz wrote: »

The only people I can see being safe are civil servants, especialy those higher up.

Oh, and those in PFI contracts!

Nobody who works for the government is safe. They have a massive defict (plus the Rock) and stamp duty is the third biggest source of income. They will have to start cutting spending soon - and the sooner the better IMHO.:o

dopester

mizzbiz wrote: »

(i've heard a few people on DFW talking about letting their 'ironing ladies' go)

Services like ironing ladies come to the market when incomes rise (or easy money is available via cheap credit / MEW ect) because the opportunity costs of doing certain things for yourself, like fixing a meal or ironing shirts, rises even more.

When you are earning good money, household and personal chores can be pushed on to the open market because it economises your valuable time. You can eat out in nice restaurants as it can be cheaper to do so on your "time-rate" to pay someone else to to prepare, cook, serve and clean up afterwards.

When the downturn comes and your income is squeezed harder, or you lose your job, you can iron your own shirts and quickly heat up some soup with a quick and easy to make cheese toastie.