'...the economy is healing.' Really?
Discussion
From the Grauniad...
Anyone?
Guardian said:
Echoing an opinion likely to be supported by the chancellor, George Osborne, in a speech on Monday, defence secretary Hammond said: "You won't find anybody, hardly anybody in the business community or in the financial community, who thinks that the economy is doing right now what the data tell us it is doing. There is a mood that the economy is healing."
So, how many on here agree that the evidence is wrong and the economy is healing?Anyone?
TooLateForAName said:
So, how many on here agree that the evidence is wrong and the economy is healing?
Anyone?
London certainly in fact some are booming of course others are struggling but from what I see I'd say a lot of people have been really sorting themselves out these past four years. The pubs and eateries are much fuller infact plenty are fully booked to me that means something is starting to work - previously pubs empty eateries quiet. Anyone?
Sadly I'd say outside of the SE bubble this might not be replicated especially the areas with very high public sector employment and valleys South Wales.
Entirely anecdotal, but where I am (Watford), many of the long empty shops in the high street are starting to be re-used*, and there's a lot of residential development that never really stopped. Granted, that's SE and next door to London, but things don't feel quite so bleak as they once did. I wonder if people have knuckled down over the last few years and are starting to feel they have debt back under control?
- that's of the ones that closed at the start of the recession. There's a core that have been empty for much longer, so discounting them.
Well, here in North Yorks there are more empty shops/charity shops/pawnbrokers in Harrogate than there were.
I have to say that I see the upsurge in small startup shops as a bad sign. Many don't last more than a couple of months and I suspect that there are a lot of people putting redundancy money into self employment and coming badly a cropper.
I have to say that I see the upsurge in small startup shops as a bad sign. Many don't last more than a couple of months and I suspect that there are a lot of people putting redundancy money into self employment and coming badly a cropper.
I'd say one thing I noticed back in 2008/09/10 was how the M4 got less and less traffic during commuting hours and I mean noticeable - that's changed and its back to as it ever was.
Another thing the car dealers really cut back on used stock for years now the yards are rammed
Basically what I mean is consumer goods - and non essential spend is back up which is good I think so many people throttled back hard and cleared unsecured debt and ten hammered the cheap mortgage to a point where they have plenty of equity.
Other thing is the housing market - I've noticed in my specific area (all that I'm interested in) they are now selling quickly ie 3-4weeks max and on my road the 5 over the last year sold within 2 weeks one over a weekend and looking at the sold prices of those they were at the asking price or one had £5k off. Again I know this as I have a vested interest and might be considering a move.
Clearly huge parts of the UK are in dire trouble and arguable further pain to come I mean te SE suffered it first then it rippled out.
Another thing the car dealers really cut back on used stock for years now the yards are rammed
Basically what I mean is consumer goods - and non essential spend is back up which is good I think so many people throttled back hard and cleared unsecured debt and ten hammered the cheap mortgage to a point where they have plenty of equity.
Other thing is the housing market - I've noticed in my specific area (all that I'm interested in) they are now selling quickly ie 3-4weeks max and on my road the 5 over the last year sold within 2 weeks one over a weekend and looking at the sold prices of those they were at the asking price or one had £5k off. Again I know this as I have a vested interest and might be considering a move.
Clearly huge parts of the UK are in dire trouble and arguable further pain to come I mean te SE suffered it first then it rippled out.
Not sure about the housing market in London picking up, my house has been up for sale for a few months now and we haven't exactly had people beating the door down, those that have been interested have struggled to get a mortgage because the banks still don't seem to want to lend any money out.
We've also been looking for a new property to move to when we eventually manage to sell ours but we keep seeing the same houses which have been up for sale for several months. I think the problem appears to be that due to the property bubble, people have been duped into thinking there house is worth X and are having a hard time adjusting to the fact that they just aren't.
I'd be more than happy to drop 10% off my house price if others in the market\higher rung were doing the same but when you have had "experts" telling you for years now that houses are a good investment and they can only go up, it's very hard for people accept that their house just isn't worth as much as they think it is.
On the other hand I went into Central London on Saturday evening and it was busier than I've seen it for a very long time with loads of bars, clubs and restaurants full to the brim so something has obviously changed.
We've also been looking for a new property to move to when we eventually manage to sell ours but we keep seeing the same houses which have been up for sale for several months. I think the problem appears to be that due to the property bubble, people have been duped into thinking there house is worth X and are having a hard time adjusting to the fact that they just aren't.
I'd be more than happy to drop 10% off my house price if others in the market\higher rung were doing the same but when you have had "experts" telling you for years now that houses are a good investment and they can only go up, it's very hard for people accept that their house just isn't worth as much as they think it is.
On the other hand I went into Central London on Saturday evening and it was busier than I've seen it for a very long time with loads of bars, clubs and restaurants full to the brim so something has obviously changed.
I've been through the 80s, 90s and the current recessions, TBH I've never been affected (apart form some crazy interest rates in the 80s!) If anything I've made great strides forward during these so called recessions. Too many people listen to the gloom and doom and get sucked into the negativity, I just get on with things, work hard and take advantage of the good things this recession has bought. Low mortgage rates, cheap goods, it's easy to knock down prices and negotiate deals, cheaper labour etc.
All my friends are doing well, all have good jobs or run good successful companies, we all go out, go on holiday, buy new cars.
What recession?
All my friends are doing well, all have good jobs or run good successful companies, we all go out, go on holiday, buy new cars.
What recession?
megaphone said:
I've been through the 80s, 90s and the current recessions, TBH I've never been affected (apart form some crazy interest rates in the 80s!) If anything I've made great strides forward during these so called recessions. Too many people listen to the gloom and doom and get sucked into the negativity, I just get on with things, work hard and take advantage of the good things this recession has bought. Low mortgage rates, cheap goods, it's easy to knock down prices and negotiate deals, cheaper labour etc.
All my friends are doing well, all have good jobs or run good successful companies, we all go out, go on holiday, buy new cars.
What recession?
All my friends are doing well, all have good jobs or run good successful companies, we all go out, go on holiday, buy new cars.
What recession?
In taxis, rental property and now most recently moneylending I 100% agree. In fact, make that 200%!Guvernator said:
Not sure about the housing market in London picking up, my house has been up for sale for a few months now and we haven't exactly had people beating the door down, those that have been interested have struggled to get a mortgage because the banks still don't seem to want to lend any money out.
We've also been looking for a new property to move to when we eventually manage to sell ours but we keep seeing the same houses which have been up for sale for several months. I think the problem appears to be that due to the property bubble, people have been duped into thinking there house is worth X and are having a hard time adjusting to the fact that they just aren't.
I'd be more than happy to drop 10% off my house price if others in the market\higher rung were doing the same but when you have had "experts" telling you for years now that houses are a good investment and they can only go up, it's very hard for people accept that their house just isn't worth as much as they think it is.
On the other hand I went into Central London on Saturday evening and it was busier than I've seen it for a very long time with loads of bars, clubs and restaurants full to the brim so something has obviously changed.
Pretty sure central London never got quiet, it's busy, it always is, regardless. We've also been looking for a new property to move to when we eventually manage to sell ours but we keep seeing the same houses which have been up for sale for several months. I think the problem appears to be that due to the property bubble, people have been duped into thinking there house is worth X and are having a hard time adjusting to the fact that they just aren't.
I'd be more than happy to drop 10% off my house price if others in the market\higher rung were doing the same but when you have had "experts" telling you for years now that houses are a good investment and they can only go up, it's very hard for people accept that their house just isn't worth as much as they think it is.
On the other hand I went into Central London on Saturday evening and it was busier than I've seen it for a very long time with loads of bars, clubs and restaurants full to the brim so something has obviously changed.
Not sure if things ever got that bad down here, but apparently our payrises will be
decent this year, so maybe it is recovering
Edited by okgo on Monday 8th October 20:28
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