Credit crunch
- Thread starter obladeo
- Start date
G
Gassy
Guest
This thread makes me feel a tinge of guilt for getting 75 hours overtime in last month,or then again maybe it doesn't
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2010= next year?
Do you really predict such a huge downfall(saving yourself a ??"ton"??) in the property market in 12-18 months?
Yup. We've lost what, near on 9% in the past year? I've seen alot of predictions of a higher drop throughout 2009. 25-30% off house prices is a decent amount, instead of paying out £200,000 for a house, I'll be paying £140,000.
Edit: Plus that 9% is the national average. The area which I will be buying in has been hit harder than the average figure.
Edit edit: The final figures for 2008 have been crunched. My area fell by 16.6% for 2008.
Roll on 2009!
Edit: Plus that 9% is the national average. The area which I will be buying in has been hit harder than the average figure.
Edit edit: The final figures for 2008 have been crunched. My area fell by 16.6% for 2008.
Roll on 2009!
i wish i could comment and fully say my views but i can't becaus i'm still in my earlyish teens nd don't have a job.... yet.
Anyway, from what i've seen (my mum works in redundency counciling for big firms so i know a litle bit). it seems banks, builders and speciality/ expensive things e.g. kitchens, are the worst hit. it also seems many big companies are trying to ride it out and laying off all the non- essentail staff.
As for the newspapers they make every single factor of life seem as bad as the building sector etc. which has an effect of the mindset i.e. "i might not treat myself and get a..."
if there is spelling errors i'm sorry
Anyway, from what i've seen (my mum works in redundency counciling for big firms so i know a litle bit). it seems banks, builders and speciality/ expensive things e.g. kitchens, are the worst hit. it also seems many big companies are trying to ride it out and laying off all the non- essentail staff.
As for the newspapers they make every single factor of life seem as bad as the building sector etc. which has an effect of the mindset i.e. "i might not treat myself and get a..."
if there is spelling errors i'm sorry
mmm credit crunch ?? recession more like the country is in meltdown
but then on the plus side loving all the sales at the shops and the 2.49% interest rate iam paying atm plus since its global fuel prices are on the fall big time untill Gordon racks up the tax again that is
but then on the plus side loving all the sales at the shops and the 2.49% interest rate iam paying atm plus since its global fuel prices are on the fall big time untill Gordon racks up the tax again that is
anouther thing to note is the gap between say a 2 bedroom semi and a 3 bedroom detached will be smaller say it was 50k now it might be 30k
seen it before when i got my first house to go from one to the other was only a gap of 15k-20k
so as long as you stay in equity moving up the housing chain will be a lot easyer for people who allready own property no matter how low the prices drop
The reason is that the actual interbank rate is considerably higher than the Bank of England (BOE) rate. As the banks finance themselves daily (at the interbank rates), the actual cost of funding is higher hence BOE trackers would mean losing money. This difference in rates makes the Govt and Bank of England's only tool to manage inflation (and cost of money) quite ineffective.
The decline in credit quality of many of the banks (due to suspect asset valuation methods - cough Lehman Brothers cough), also increases the spread they have to pay to borrow money, hence this gets past onto the customer (or they slash lending).
As the economy is pretty much built on Credit, the ongoing supply of it has to be a top priority for the government (hence selective bailouts). The banks getting bailed out didn't cause the credit crunch, but are victims of it.
As too the "twonks" responsible, it's not the stock market traders but a failure by Govt and the Regulators to properly monitor, control or even understand the banks / investment houses.
What impact all this has on Panitball is not easy to tell, it maybe that Paintball (some areas) actually does alright out of it. If it's seen as a good day out and customer sites deliver positive customer experience then people will still spend 50 quid a day out rather than 2 or 300 at the races / go karting / sailing / whatever.