I work in the construction industry as an interior architect, and this last couple of days work has been, well, non existant…
literally, sitting in lb all day, cause theres no work!
getting a wee bit concerned, when you also look globally at the slow down, inflation etc, the construction industry can be among the first to be hit, and it seems to be happening…
:ermm:
Dont know your industry but often think that about the car industry? i mean the average person only buys a car and hopes it will last…meanwhile we are churning them out daily…
same can be said of the bike industry
Very true westie…im not in the bike industry so didnt want to say, you prob know more about that…but yeh you are prob right there…although with the amount of smashes we tend to have 
we prob buy more bikes per year…ha ha
maybe its a communication problem they are having,
Still lots of work out there…maybe you should change employers…
yeah thats true…
Steve you should try working in Structured Credit…not the most positive outlook here either!
when i came over for the first time i worked on a building site. often heard people saying the recession is just around the corner and IS coming.
that was year 2000.
2008 and what’s the news? recession just around the corner…
Know what you mean. I work for an airline, and with oil over $100/barrel the company is looking at saving money any way it can.
So in the pipeline are a potential merger and out sourcing of the IT division. And all we hear from the high ups is doom and gloom. Told one VP to stop telling us every year that we are likely to be out of a job.
Still look on the bright, I have wheel wheels, and two cylinders. Nuff for me.
housing market falling, inflation going up, petrol at silly prices, stock markets plummeting, banks cutting down amount of loans and credit they give out…
In northern ireland alone, property prices have fallen by an average of £20 000 in last few months…
your right that there was always scare mongering of recession, but this time its different, the signs are all around
Ive been considering a career change, spose this will be good kick in the ass to do it…
housing market isn’t falling, most recent data is that UK house prices have risen 3.2% m-o-m
Banks are cutting back on lending daft multiples to people who cant afford it. Its a market correction to more sensible lending, not necessarily ‘doom’. Personal credit is still available, they just want you actually prove you can repay it now (crazy talk). People cant guarantee their house prices are just going to rise, so the increase in equity will offset their spending/personal debt. there are of course issues about how much someone can actually borrow to purchase based on salaries vs house prices now.
There are still lots of interbank lending issues, and raising of corp leverage but they dont necessarily make for dents to consumer confidence either.
The BOE just cut rates by .25%, and more cuts are likely this year which will have a positive effect on mortgage applications. This year is far from being clear cut as to how it will pan out in the UK, but ‘recession’ seems a particularly pessimistic way to view it at this point.
I Buy one new bike a year…well thats the plan…although likely this year it will be two…just wonderring how long i can hold off not buying a z1000 on interest free credit…
and maybe a new Sprint for me touring…
and maybe a new Tiger for a bit of fun:P
and would really like a Rocket 3…:w00t:
oh stop before I GO MAD…:hehe:
like you say, recession is a strong word, but fact and figures can be twisted
ok, in northern ireland, where theres an economic boom at the moment, house prices had been on a steady increase, are now falling.
u can say on average house prices are on the increase, but the average will take into consideration places like london, which is in a league of its own, as demand exceeds supply.
overall, if demand exceeds supply, prices will go up, but when everyone panics, starts selling their second buy to let property, which historically would have been places first time buyers would buy, this will create an influx onto the market, and of course, theres less first time buyers out there cause the banks are more cautious who they give them to!
so, then theres lots of property for sale, but no one to buy them…
Like i said though, london is a different situation to most of the rest of the country
of course, everyone has their own slant and opinion on things…
thats mine…
and i agree with who ever wrote that for you.
to be honest thats a bit simplistic and not necessarily true. in terms of buy to let properties, the investment decision is its rental yield (rental income vs opportunity cost of the capital and mortgage repayments etc) which determines whether its a good investment, not its absolute price. other factors aside, selling assumes that the yield falls below zero and is likely to remain so for the foreseable future.
if as you say the 1st time buyers are struggling to raise sufficient mortgages, then rental yields may in fact rise as they cant afford to buy, or do not want to invest in a potentially falling market so rental demands increase
if its an investment property and property values fall badly, the decision to sell is based on being able to earn greater returns on the realised smaller cash investment somewhere safer (which there may not be). many of these investment properties have been held for a number of years, and so have already made capital gains on them so its just reducing that, not actually making a loss. also bear in mind that selling a property has quite large selling costs involved which have to be factored in. I’m not sure that the risk of a slow down in the UK economy translates into panic selling of housing to be honest.
I don’t think things are as bad as they sound, the press is very good at talking the country down. Don’t forget that Feb/Mar is a funny time of year anyway, often get a bit of a slow down then a surge this time of year before year end, at least in the industries I’ve been involved with. At work we’re very busy right now which is great in one way but it means an even busier summer to come :w00t:
House prices do seem to be still on the up as said above and a bit less lending to people who can’t afford it won’t do any harm, should have happened years ago.
I’ve just got back from Ireland and things there are brilliant, the country is very buoyant. It’s funny that they’re facing some of the same problems we did, looking at congestion charging, poor public tranport,trains not running on time etc but looking at the same “solutions” that haven’t worked in the UK/London . … why don’t they learn from us . . . oh yeah, I forgot, the public can be milked for their cash just as easily in Ireland as in London . . . 
recession is coming…come on Bank of England get the rates down at least another 2 percentage points…I can then buy two more bikes…so helping the economy…easy peasey
so everyone after me…Recession Is Coming…we have to convince the BOE so that they reduce interest rates substantially not just 0.25%…
have been four rounds of redundancies at my place since 2000; went from 80+ to 20 people and each year we think we are about to fold
thats IT for you, i have 8 yrs of work tied up here so stuck between redundancy money and a job market that might not be too healthy if i wait too long
ah bugger it 
well i’ll tell you something the pound exchange rate for the euro has gone down from early december at 1.37 to now 1.32 now thats not good!
