Recession in the UK

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I think the net effect will probably be people working harder and longer for less.

As such I'm not convinced the recruiters will suffer that much, there will still be churn in the market, just it will be probably be from people losing high paying jobs and having to take lower paying jobs.

The market would have to get very bad indeed for them to suffer. Add to that the contract market which is like rentals to estate agents, they make earnings off contractors all the time they are in work.

I cannot see houses prices going up in real terms any time soon, houses were previously overpriced, any increases in costs will hopefully be more than accounted for by a drop in price. Yep mortgages were cheap for lots of reasons, a lot of it was cheap credit funded by China and Japan, this was never going to last forever. So I doubt you will pay more in real terms, something had to happen the market had gone totally bonkers. People without deposits should never have been allowed to buy in the first instance! Who wants to live in a society where a nurse working 60 hr weeks saving lives can't afford to live somewhere decent ?

If it just stops all the buy to let and property investment TV programmes then it will all be worth it !

 

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Umm, im keeping an eye on this!!:hhhmmm

 

you are totally right,
" An Englishman's house is his castle" more like a ball and chain!
We are a crazy society that just loves houses and if there are too few deals in the UK we buy abroad and screw up their markets!

Mind you, this country is getting me down latley - no summer, donkey government, greedy councils, speed average cameras to name a few.

I think I will move abroad, on retirement, if I can afford a shed.

 

Interest rate have just been announced to drop 1.5% good news for borrowing

Alot of the stuff is still relative you sell a house cheaper you buy cheaper.

The people that are currently in trouble are people fixed in a mortgage that total out values their property if they were to have to sell. If they can hope to hold on until everything recovers again, however, that could be years.

 

Ha 1.5%
It's a sunny day in the UK today (despite passing several speed average cameras on the way home)

 

I really don't think this would help in terms of buying and selling houses as banks never lend you the rate the government has set. Banks are greedy and would always be that's why they operate that way.

 

Its helps with new loans, mortgages and possibly some re-mortgages.
Also non fixed rate stuff.

It will help greatly with house sales , estate agents were hoping of a 5%

This is a big shock

 

Bank of England have secretly been saying that they wouldn't drop until 2010 for the last 5 years or so.

 

You do that.

 

I'm fortunate enough to work with a worldwide defence company that provides defense, homeland security and so on to the US and other markets, and I've been advised that this is a very secure position and company to be in for the recession, and if it lasts for 2 years - good, I'll still be studying my A+ by then lol

 

Not if they band wars

 

Even without wars, they would need continued production to replace all the older equipment (mainly weaponry) which has an approximate 10 year life warranty on them, so it'd be a continious cycle, but it's quite bad when you think about it, how many people here have to rely on insecurity, wars, or anything else to stay in a job, when the Iraq war came, this place was on 12 hour shifts, continental, and the overtime was more or less gurenteed every week. One year, there was even such a demand for a bit of extra commitment that the company offered it's employees bonuses of £250, £500, & £750 depending on agreed number of hours to be worked in overtime one month

I don't know what's the safetest in these times, but this is pretty safe in terms of job security

 

Over the past year or so, since i joined the forum, i have created some interesting threads...

talk about going off topic or what... with this current one!