bigryrs

iTrader: (10)

WTF is this all about suddenly everybody thinks they have no money any more i dont notice any changes up here in scotland i dont feel skint at all anyone else's views on this would be good to hear

fuzzy

your obviously not in the building trade. or the banking trade. credit crunch is just new labours buzz word for recession. just the same thing but not sounding quite so nasty. i was skint before it all kicked of and im still skint so i guess it hasnt effected me either.

The Loumiester

well it mainly effects the car for me as tax has gone up and fuel prices are rediculous. The price of shopping has gone up but depends what you buy. Due to this fast inflation the Pound is losing value in the extchange rate but the Dollar rises.

Rab

I haven't been too badly affected but we have noticed it especially with having a baby. But we didn't use much credit. Our gas/electric bills have gone up quite a bit, both with a baby and with higher prices. I just gave up my luxury items and now all is normal again.

tonyk

It depends on a number of things on whether you will feel the credit crunch. Do you own your own home? Basically everything is becoming more expensive and earnings are not increasing enough to cover this. I will give you a few examples where it could affect a person in every day life.

1. Petrol cost 86.9p a litre for Super Unleaded two years ago, versus £1.20 now.
2. Electricity and gas are going up by around 30% this year.
3. If somebody bought an average house at 100k 2 years ago and got a mortgage for 90k, the house has fallen in value and now they potential owe more than the house is worth.
4. In march 2006 the bank of england base rate was 4.5% its now 5% but has been as high as 5.75%.

bigryrs

iTrader: (10)

the big question is then where does it go from here this country is fucked up as it is without this shite happening the uk is going down the pan pronto

Connor

Only thing i have noticed is out shopping bill has gone up a tad nothing mental tho

rabmc

Shit just bought a house 5 months ago and im finding it hardish, not struggling but some of my luxurys have gone like my RS etc, but hopefully be out the other side of it in a few years!

Just things like fuel as i run my own business make a big differnce to me!!

dakar

iTrader: (1)

Was skint before and am just a bit more skint now luckily dont have much on credit just the car so not a lot of change for me

matts1

Does depend on what your outgoing are spent on, everything is creeping up. So over all it can make a big difference.

I do believe that many items that have shot up in cost are down to companies taking advantage, ie, well it costs more to ship etc so we will charge more and so on.

I wonder if these cases were looked at closely, how justified the hike in price would actually be??

Add to that the effect of the media whipping it up into a frenzy and everyone then holding back from spending in fear of what tomorrow brings and it strangles companies who then go bump or charge more to make ends meat and it spirals.

If they had kurbed the silly lending etc in the ealry days or punished those who were getting greedy and lending people crazy amounts, i do think thete would be less of an issue now.

Staffi

iTrader: (1)

Looks like i,ve picked a great time to spend ££ in an engine build doesn't it..

Ar well, atleast i,ll have a 500bhp cossie to live in..

ben_frst

im in the building trade and were still turning/giving work away im finding that alot of customers are extending rather than moving house however there is still money to be made in renovating letting and other ways to make money in property its just the houses need to be bought for the right price 8 weeks turn around and alot less profit so all these idiots that were in the property game buying a house fitting a kitchen and bathroom repainting and want 30k profit have come unstuck and im glad should allow the youngsters like me who work hard leave a clean and good job a chance to save loads and clean up next time round

as for the banks F*ckem there only there to sell you a product and have made billions doing so over the last 15years

the main problem with both the property and building industry is greed and all the people who are struggling should have cained it while the times where good some they can sit tight over the hard times credit crunch Boll*ks

Rab

Will be worth it in the end!! You can always re-mortgage

RichardPON

Really? Because they're actually completely different.

Seademon

Credit crunch = banks not lending people money as easily as they were, mortgages, loans etc. Theres no 100% mortgages at the moment & you need a big deposit to get on the ladder at the moment. If you dont go to the bank asking to borrow money you should be ok apart from the obvious hikes in energy & food prices so not really the same as a recession.

Maria.

I am worse off now than when i was 17!!!!

the new car market has been hit MASSIVELY.... oh and what do i do for a living?? Sell new cars!

i do think a change of career is in order .....

rst in breaking

iTrader: (2)

the old building game is bad, was out of work the other month due to company losing a contract, then next company never payed up, then old company got contract back so im ok atm but believe me its quiet as property isn't selling so therefore not being built

Rab

Working for the government is the future!! I do and it's great!

Turbo-Beal

As soon as the property market levels out i can see the market picking up again quickly as alot of people are hanging on to see what happens. If you look at it right now why would a first time buyer buy a house right now when they could quickly fall into negative equity. The fact is there is still a demand for housing and always will be.

RAT8OY

I agree totally. I work as a surveyor/project manager for the london fire brigade looking after their construction projects. My job is as safe as house's which is why I turned down a massive pay increase with a private sector construction company. They offer the world to recruit you but as soon as the contracts dry up I dont want to be left in the shit with the thousands of others in my industry who will be looking for work.

I have choosen to ride it out and see what happens. I am not convinced the big south east based construction works will drop out straight away as these projects take years to get off the ground and the funding for 99% of these are already secured long before a brick is laid.

Its the smaller construction stuff I think will suffer. I have done very well out of a shortage of construction management staff over the past 8 years or so, when the smaller stuff dries up I dont think this will be the case anymore.

dovboy

building trade is quiet,but mostly only effecting the new house building market thank fook.

i suppose it depends on your situation,when i was 20-25 or so i lashed a small fortune against the wall and built up my sierra.
,a wife,mortgage,2kids,bills,big 4x4,trackcar,foodshopping has made me notice money not going so far.

the thing is i have money but i'm scared to spend it due to the constant threat of it getting worse before better

on the upside i got a six month building contract to do that will pay well so i hope its like some say and we will be on the way back up for next june or so.

Jay,

iTrader: (4)

you on the dole rab ?

Psycho Warren

iTrader: (5)

Same here in job terms Although better off having a house and pension i certainly had more disposable income when 17!!
Thats my long term plan work somewhere for government. Fine until the impending civil war but hopefully not in my lifetime!!

The only way the credit crunch has affected me is that its hard to get a full time job, and that i cant get more insane credit cards to short term bale me out until im working again. Longterm its not a big deal as its less debt to pay off having no credit cards. Hell less money for food and no luxurys like takeaway but i needed to loose wieght anyway