Innocents affected by this

mr.broderick

melancholly wrote: »

i don't even own a house and people like me are still going to be hit by the crash and other associated economic problems..... if rents rise a lot, i'm in trouble. meanwhile bills are going up for utilties and food, general unemployment is rising making more competition for any job i want to go to. this downturn is directly impacting on estate agents, developers, solictors, builders etc, but if there is a major crash (all depends on what you call major!), it effects us all as consumer spending will drop and cause problems in the retail and entertainment sectors etc etc etc. i'd love to afford to buy, and even if prices drop, it's very much a pyrrhic victory. this downturn is not a good thing at all, not for anyone.

Yep amen to all that..

$$$_12

Agree with Zammo - there are no innocents. If you are an adult - ignorance isn't an excuse (unless you have learning difficulties or are otherwise disabled) although the Government might have done a lot more to protect the ignorant from themselves, the banks and the other players.

No-one forced anyone to buy an expensive house they couldn't afford. I thought about buying in 2005 and realised there was no way we could afford it if interest rates went up to their long term average and one of us lost our job. So we stayed out and saved/rented instead.

No-one forced anyone to work in cyclical industry (which construction certainly is) and not prepare for bad times. It's the responsibility of old hands to tell newbies what the score is. I've worked in highly cyclical industries in the past (it wasn't that long ago oil was $12/barrel) and rule number one was save at least six months salary before going on holiday/buying nice stuff.

The only ones I feel sorry for are those who've genuinely had it hard over the last ten years of boom (eg the sick who were unable to take advantage of it).

Kez100

neverdespairgirl wrote: »

What about those more recent recuits? Those who are now apprentices, and might well get laid off before they finish their training?

They will fall among my group of NMW (probably very close to it) who I do feel for.

Sir_Humphrey

I think there are a lot of innocent people here, as in naïve.



http://en.wikipedia.org/wiki/Fotherington-Thomas

WTF?_2

melancholly wrote: »

i don't even own a house and people like me are still going to be hit by the crash and other associated economic problems..... if rents rise a lot, i'm in trouble. meanwhile bills are going up for utilties and food, general unemployment is rising making more competition for any job i want to go to. this downturn is directly impacting on estate agents, developers, solictors, builders etc, but if there is a major crash (all depends on what you call major!), it effects us all as consumer spending will drop and cause problems in the retail and entertainment sectors etc etc etc. i'd love to afford to buy, and even if prices drop, it's very much a pyrrhic victory. this downturn is not a good thing at all, not for anyone.

The crash was the inevitable result of the out of control boom. Prices in the US peaked beyond reasonable levels and the bubble burst - triggering the credit crunch - which screwed Northern Rock - which kicked off the decline in the UK market .

Recognising that a crash was going to happen does not equate cheering it on, just accepting reality and planning accordingly. So it's not a case of anyone having a 'pyrrhic victroy'.

We have all lost out because of the house price boom, though some more than others. Like for example FTBs who bought in 2006/7 especially, or those who kept MEWing wealth out of their property.

melancholly

!!!!!!? wrote: »

The crash was the inevitable result of the out of control boom. Prices in the US peaked beyond reasonable levels and the bubble burst - triggering the credit crunch - which screwed Northern Rock - which kicked off the decline in the UK market .

Recognising that a crash was going to happen does not equate cheering it on, just accepting reality and planning accordingly. So it's not a case of anyone having a 'pyrrhic victroy'.

We have all lost out because of the house price boom, though some more than others. Like for example FTBs who bought in 2006/7 especially, or those who kept MEWing wealth out of their property.

i don't think you personally are cheering it on, but there are definitely some people on here who are revelling in it in a way that is very uncomfortable to read. it's a shame they are enjoying other people's misery rather than constructively trying to help them cope.

m00m00

the ignore list is there to be used

baby_boomer

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?

Well that's what's probably needed to trigger a serious HPC, rather than a serious correction.

thriftybabe

$$$ wrote: »

Agree with Zammo - there are no innocents. If you are an adult - ignorance isn't an excuse (unless you have learning difficulties or are otherwise disabled) although the Government might have done a lot more to protect the ignorant from themselves, the banks and the other players.

I guess you would have no problem when I have tell my 4th year apprentices (that have 3 months to go before their times out) that they are being paid off. So I will just tell them that ignorance isn't an excuse and you should have seen this happen before you got into the business!

These boys stay with their families who will look after them but who will take them on a few months before their times is out. We are hoping that we will be able to keep them as there are a few jobs in the pipeline.

We personally have done well over the last few years and will be okay during this time. We did not overspend and have saved enough for the bad times. The young ones who are trying to get a job as an apprentice are going to have a hard time and that is who I feel sorry for.

brit1234

borntobefree wrote: »

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

Sorry but I can't see the government cutting teachers, police, nurses or fireman. There are many safe government jobs.