# Economy and Layoffs



## BrookeB676 (Oct 17, 2004)

I think it's finally starting to become real, I have a few friends who have lost their jobs, and someone I deal with at my main client lost their job last week. I have heard numerous stories about a friend of a friend who has been laid off. This is all so scary and unimaginable for me as I have never lived through anything quite this bad. The sad part is that other companies aren't hiring, so those losing their jobs may be out of a job for some time. Sure, our economy has gone into downturns, but this is a depression driven by a massive credit crunch that I don't see correcting anytime soon. I have a husband in law school for another year, so as you can imagine, it's not comforting in a time like this to be the only source of income. Can anyone offer a glimpse of hope? This is a scary time in the US. I was just curious to see what your thoughts were and how this is affecting everyone and how you are dealing with it. I'm just trying to hold on to hope that things will start to turn around.


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## Nikki's Mom (Feb 13, 2008)

I understand your concern. We are concerned, too. I hate to be the bearer of bad news, but after doing mega amounts of research, my conclusion is that things will get much worse. Those of us who are concerned for their careers or their friends/family's careers might research a field that does well in hard times, like private security firms, shops that repair existing products, consignment shops, and definitely local public service and the medical industry. Good times come and go, and so do the hard times. This too shall pass. But I fear it's going to pass later rather than sooner.


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## Krystal (Feb 3, 2007)

I know your concern! I am still in school...have another year and a half to go...and I am SO scared that once I finish I wont be able to find a job and will be forced to take a low end job to pay the bills....


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## domino_angel (Apr 17, 2008)

I saw this coming a couple of years ago, and that's actually _why_ I am in college right now. I was a realtor then, and hadn't been in it for too terribly long. I started seeing the problems that were coming, and I knew the housing market was going to tank. Surely others in the business saw it coming, I don't know why they ignored the warning signs. I couldn't afford to be caught up in the mess, and I didn't have anything else I could do, so I had to go back to school.

On one hand I am lucky that I am in college right now, on the other hand my hubby is the only one working. Fortunately his job is pretty secure, and worst case scenerio he would just be transferred to a different store. He's a manager at Walgreen's. They do pretty good business even in down times. That doesn't do much for my peace of mind though. 

Companies here are laying off about a much as I expected. Fortunately Kansas weathers economic problems pretty well, particularly if you don't work in aircraft. Aircraft manufacturing is our main business here, but it isn't the main business like it was in the past, thank goodness. We are lucky that banks here tend to be pretty financially responsible and didn't get sucked into much of the problems plaguing the rest of the country. 

The thing that really worries me is whether things will get as bad as I actually expected them to when I left real estate. Its not there yet, but every day it seems like it gets worse. The huge drop in gas prices is nice for the personal pocket book, but it actually really worries me because it means that employers aren't using nearly as much as they used to. That means less work, and more layoffs. The prices are slowing down their drop, but I won't feel good about it until they go up a little.


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## TheButtercup (Mar 3, 2005)

the job market is horrible. i have been job hunting for THREE YEARS. i am a retail manager in the mall and i hate it. i went back to school to finish TWO degrees so that i would never ever have to work in the mall again. and here i am. i can't even get hired at target as a cashier for the holidays. even fast food places are like "wow, you're over qualified for this... sorry." 

ugh. this is horrible.


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## Moxie'smom (Dec 16, 2007)

Things were bad when I got out of school back in the early eighties. And I was going into a field which was always not only competitive and cut throat, but always got hit hard first especially in a bad economic times. There were major layoffs. It's the Advertising biz. And what made matters worse was that I only wanted to work in those smaller boutique agencies that had amazing reputations, had great clients willing to take risks and won tons of awards. They also never paid very well and most times did not hire juniors. But it was my desire to do what I went to school and worked so hard for...to do the best advertising I could, creative, TRUTHFUL, and funny. Was not easy to find. But I hung in there, lived at home, and continued to better myself and my portfolio and finally..finally got onto one of the best agencies at the time in the country with only an 8 person creative department. for such a long time prior...I cried. I got mad, And I waited..and waited...and waited...and did what i needed to do to get by. But I never lost the faith for what i wanted. My mom pleaded with me to become a nurse, switch fields. I wouldn't have any of it. I knew that in time things would get better and work out. It's not unrealistic. Use this time to network. Meet people. And Nurture those connections. And where you can, watch where the $$ goes. You don't need those $500.00 shoes right now. (just an example, but you get what i mean.)

If you're in school now, enjoy it and do what you got to do and don't let what MIGHT BE depress you. Just concentrate on what you're doing right now. I always felt that passion for what you want to do is the essential thing that will not only help you get through the tough times but will eventually be the very thing to guide you you into that job. Eventually you will get what you want. You just have to think positively and hang in there. Things might get worse, but then they have to get better. Staying positive will help because the alternate is just a waste of time and energy.


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## CeeCee's Mom (Sep 14, 2006)

I have been watching msnbc tonight and they say there are small sparks that are showing up in the stock market. You could have fooled me by looking at my portfolio. I think we have another year of this downturn........they say the market will turn before the economy does. So watch the stock market to see when we will be headed out of this recession/depression. Our best hope is middle of next year and if not, into 2010. Try to stay positive, we are all in this together!!!!


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## I found nemo (Feb 23, 2006)

Now they say 53,000 lay offs just at Citibank :shocked: thats terrible.
I feel awful for these people who have families and have no idea what they are going to do.
I thank God I have a roof over my head and food on my table.
I pray this economy gets better and these people can have a break already, it's very sad


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## Anarducci (Sep 8, 2008)

If the government doesn't bail out the auto companies it's estimated that a total of 16 million people will lose their jobs. It's crazy. My dad's salary has been cut in half and he's had to lay people off left and right. My uncle is on disability because of back surgery and some error was done with the paperwork that hasn't been corrected yet and he's receiving no payment. Today my aunt got laid off so that means no income at all. To make it worse my cousin and her fiance are living with them at the moment and she's having a baby tomorrow! The fiance is the only one working and it's a security job he took just so there would be SOME money coming in. This country is in trouble and it's scary. My dad says last time there was a bad year that took a while to recover was 92' and I was only 2 years old so I've never been through rough times like this.


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## momtoboo (Jan 30, 2006)

So far we haven't been affected, but I know lots of people who are having a rough time. Lots of small factories in my area have closed down in the last few yrs, due to NAFTA. There are very few jobs available here, mostly nursing. I worry all the time about Hubbies job, I haven't worked since getting Hannah. Our retirement fund has lost money, but I'm glad our home & cars are paid for & we have some savings. I had planned on buying new furniture this yr & trading cars, but decided we will wait. We've definitely cut down on our spending this yr & saving as much as we can. It's scary, I hope things start a comeback soon, but I'm afraid it's going to get a lot worse before it gets better.


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## dwerten (Oct 6, 2007)

yep times are real bad -- I have been in the mortgage biz since 1991 and never seen it this bad  my dh just lost his job on halloween - no treat there ad not a trick  so thank goodness for savings and our house is not yet under water but he is now pressuring me to move from california to ohio  as cost of living is much less


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## graceandmartin (Feb 25, 2008)

I work in the real estate business too and I know exactly how slow things are right now. Gratefully so, my DH is an engineer with a major Southern California Utilities company working on the State of California Energy Efficiency campaign, so his job is secure. While I worry that this downturn in the market (which we did see coming even as far as 3-4 years back) is going to last for at least another year to year and a half, I can't help but be thankful for the timing. Now, that I am pregnant, I can excuse not putting our baby into daycare for $1500 a month considering that there is no work!! :blink: Personally, the timing is great, I can take a year off, save our money from what child care costs would have been, and then hope and pray for the best that things start to turn up.


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## I found nemo (Feb 23, 2006)

You can't even get a mortgage either?? My Mother In Law's house is worth about 1 million dollars and she wanted to take out about 100 thousand and she only owes maybe 50,000 on the house so thats like 950,000 she has in equity, they told her no :shocked: only way is at 8 1/2 percent???????
I was just floored I couldn't believe it, I know they are not giving mortgages but I thought will all that equity what do they have to loose?
Doesn't matter, now thats so scary
So many people around here are loosing their homes, it's very sad.


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## bklynlatina (Nov 16, 2005)

I have been at my job 11 years come March 2009. I work for a finanical firm. We NEVER had layoffs. Well this monday there was about 600 employees laid off between all our locations. At least that was what I heard. I know that here in the department I work in we lost 7 people. It was REALLY HARD for me to sit here and see people that I have worked with for 7-10 years pack up thier desk. I did pretty good for most of the day until I saw one of the men cry at his desk. That's when I lost it. :bysmilie: I had known him 7 years that he worked here. There was no way I could watch him walk out the door without saying goodbye and giving him a hug. When I did that I just lost it and started crying. I am EXTREMELY stressed sitting at my job everday this week after monday. We just bought our house 1 year ago and had a baby at the same time. 

I can't even IMGAINE what I would do without my job, 3 kids, a car, and a now a house. :smpullhair: I am extremely lucky and grateful that I was not one of the people to get laid off this Monday. But now I'm hearing there will be another lay off in MARCH 2009. :faint: 

It's so sad for this to happen right before the holidays. :crying:


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## mamamia (Jul 26, 2008)

I know this may sound crazy...but maybe this will shed some hope that things will get better soon. Several months ago...when the market started to get really bad...I asked a friend of mine how she was doing. She said "great"! She told me that she went to see a very well known physic years ago and he told her to put all her savings in a safe fund until after this president leaves office. I know it sounds crazy...but he was right on. So hopefully things will get brighter next year. We can only pray.


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## deuce (May 31, 2007)

I know the feeling..Hubby is getting laid off his last day is November 30..What a wonderful Christmas gift, huh?? I am a teacher so I feel pretty secure in my job, but I do not make enough money to keep us afloat forever...Hubby has decided to go to Nursing school because we feel the Medical job market it pretty secure...I think alot of us are in the same situation..I guess all we can do right now is wait for a change and pray alot! Good Luck to everyone :wub:


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## mamamia (Jul 26, 2008)

QUOTE (Deuce @ Nov 20 2008, 08:41 AM) index.php?act=findpost&pid=674017


> I know the feeling..Hubby is getting laid off his last day is November 30..What a wonderful Christmas gift, huh?? I am a teacher so I feel pretty secure in my job, but I do not make enough money to keep us afloat forever...Hubby has decided to go to Nursing school because we feel the Medical job market it pretty secure...I think alot of us are in the same situation..I guess all we can do right now is wait for a change and pray alot! Good Luck to everyone :wub:[/B]


Im in the medical field and we are not entirely safe either. Our local hospitals have been laying off people here just prior to the election. They were anticipating Obama to win and he is all for Socialized medicine (which is not a good thing...IMO)...especially if you work in healthcare. The hospital I work for is a "for profit" organization...and instead of layoffs...they are cutting back our hours. They do this occasionally during the year and have been doing so for the last 3 years. I have no problem giving up 3 hrs of pay a week in order for everyone to keep their job.


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## BrookeB676 (Oct 17, 2004)

QUOTE (MamaMia @ Nov 20 2008, 07:59 AM) index.php?act=findpost&pid=674026


> QUOTE (Deuce @ Nov 20 2008, 08:41 AM) index.php?act=findpost&pid=674017





> I know the feeling..Hubby is getting laid off his last day is November 30..What a wonderful Christmas gift, huh?? I am a teacher so I feel pretty secure in my job, but I do not make enough money to keep us afloat forever...Hubby has decided to go to Nursing school because we feel the Medical job market it pretty secure...I think alot of us are in the same situation..I guess all we can do right now is wait for a change and pray alot! Good Luck to everyone :wub:[/B]


Im in the medical field and we are not entirely safe either. Our local hospitals have been laying off people here just prior to the election. They were anticipating Obama to win and he is all for Socialized medicine (which is not a good thing...IMO)...especially if you work in healthcare. The hospital I work for is a "for profit" organization...and instead of layoffs...they are cutting back our hours. They do this occasionally during the year and have been doing so for the last 3 years. I have no problem giving up 3 hrs of pay a week in order for everyone to keep their job.
[/B][/QUOTE]

Socialized healthcare is another topic that scares me, but back on topic, my step-mom works as a director for a hospital and she said they recently had layoffs also. I think that everyone listens to the media, who continuously emphasizes that "we haven't seen anything yet" and as people repeat that to those around them, everyone feels insecure. The truth is, we don't know how things will be next year. It largely depends on the measures that companies continue to make to prepare for any worsening time. I certainly don't think that many companies will have growth in the next year to come, but I also think that as we are all in this together, companies need to focus their efforts on cutting costs in other areas to prevent layoffs. 

What I don't understand is why the executives spent several thousand on a private company jet to be flown to beg for $25 Billion yesterday. Why don't they sell their jet and fly coach? That will give them the money they claim will help them stay afloat.


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## Anarducci (Sep 8, 2008)

QUOTE (BrookeB676 @ Nov 20 2008, 10:03 AM) index.php?act=findpost&pid=674065


> QUOTE (MamaMia @ Nov 20 2008, 07:59 AM) index.php?act=findpost&pid=674026





> QUOTE (Deuce @ Nov 20 2008, 08:41 AM) index.php?act=findpost&pid=674017





> I know the feeling..Hubby is getting laid off his last day is November 30..What a wonderful Christmas gift, huh?? I am a teacher so I feel pretty secure in my job, but I do not make enough money to keep us afloat forever...Hubby has decided to go to Nursing school because we feel the Medical job market it pretty secure...I think alot of us are in the same situation..I guess all we can do right now is wait for a change and pray alot! Good Luck to everyone :wub:[/B]


Im in the medical field and we are not entirely safe either. Our local hospitals have been laying off people here just prior to the election. They were anticipating Obama to win and he is all for Socialized medicine (which is not a good thing...IMO)...especially if you work in healthcare. The hospital I work for is a "for profit" organization...and instead of layoffs...they are cutting back our hours. They do this occasionally during the year and have been doing so for the last 3 years. I have no problem giving up 3 hrs of pay a week in order for everyone to keep their job.
[/B][/QUOTE]

Socialized healthcare is another topic that scares me, but back on topic, my step-mom works as a director for a hospital and she said they recently had layoffs also. I think that everyone listens to the media, who continuously emphasizes that "we haven't seen anything yet" and as people repeat that to those around them, everyone feels insecure. The truth is, we don't know how things will be next year. It largely depends on the measures that companies continue to make to prepare for any worsening time. I certainly don't think that many companies will have growth in the next year to come, but I also think that as we are all in this together, companies need to focus their efforts on cutting costs in other areas to prevent layoffs. 

What I don't understand is why the executives spent several thousand on a private company jet to be flown to beg for $25 Billion yesterday. Why don't they sell their jet and fly coach? That will give them the money they claim will help them stay afloat.
[/B][/QUOTE]

The money will help them to keep afloat but won't solve anything until they re-work contracts with the unions. But you are correct. The CEO making a 20,000 dollar trip to a meeting to ask for money and help really shows a real lack of caring. Doesn't send the right message at at all, but then again what does he care, if the company goes under he won't feel it in the least bit.


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## godiva goddess (Nov 19, 2007)

i have my own reservations about socialized/universal health care as well..i see the pros and cons of both side of the issue. but, that is off topic here.

i do think the economy will definitely get a lot worse, for a long time, before it gets better. good thing is, economy is cyclical, so what does down, will come up..although i think this particular downward spiral is different from the ones we have seen because of the international trend and the emergence of new super powers. that is my own opinion, and what i have seen from many powerful hedge funds now moving out of USA and going to Asia- where all the $$ is. there is a major shift in the power/financial dominance in the world and as globalization takes over, i think the US economy will be forever transformed. 


my DH's firm was one of the more highly publicized wall street firms in the news months ago....while i do have my personal ambivalence regarding "bailouts" i don't think the media did a fair and balanced coverage of the whole situation. the idea that wall street is separate from "main street" is really a misnomer. Wall street and main street are intricately intertwined- if one fails, so does the other.


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## godiva goddess (Nov 19, 2007)

QUOTE (BrookeB676 @ Nov 20 2008, 10:03 AM) index.php?act=findpost&pid=674065


> What I don't understand is why the executives spent several thousand on a private company jet to be flown to beg for $25 Billion yesterday. Why don't they sell their jet and fly coach? That will give them the money they claim will help them stay afloat.[/B]


Very good point!! Although, I can't say I am surprised at all, neither. 90% of the firms here have helicopter pads on the roof.. B)


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## Julie718 (Feb 17, 2006)

I can't believe how bad the economy is.  It's very scary. I was laid off in August and am still collecting my unemployment. My hubby and I have cut back by trying to eat more meals in. We are also cutting back for Christmas by buying less expensive gifts for everyone. 

I'm very thankful that we have a home that we can afford and aren't in danger of losing it.

My hubby works in technology and he is always busy! His company is actually growing right now...strange, huh? They are the only company I know right now that is hiring.

Due to Hurricane Ike, the hospital in Galveston is laying off a bunch of their staff. 3,000 people will lose their jobs!  

Times are very sad right now.  Just hoping for everyone that things get better. :grouphug: :grouphug:


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## Gail (Oct 14, 2007)

QUOTE (Julie718 @ Nov 20 2008, 10:52 AM) index.php?act=findpost&pid=674115


> I can't believe how bad the economy is.  It's very scary. I was laid off in August and am still collecting my unemployment. My hubby and I have cut back by trying to eat more meals in. We are also cutting back for Christmas by buying less expensive gifts for everyone.
> 
> I'm very thankful that we have a home that we can afford and aren't in danger of losing it.
> 
> ...



I retired this year and I'm not buying much. Nor do I expect anyone to buy for me. Christmas is not about the gifts and anyone who gets insulted doesn't know the real meaning of the holiday.


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## Anarducci (Sep 8, 2008)

I think if my parents haven't already paid of the the house things would be really bad. My dad has a good job but he's taken a significant pay cut and with me and my brother in college and four car payments on top of bills it's getting pretty stressful. I've been trying to get a job to help out but nobody's hiring!


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## Cupcake2007 (Jan 22, 2008)

my uncle just told us that he will be let go as of 12/30. he works for TI (Texas Instruments) and does some weird stuff i dont even know. lol...


i feel so sad for them. my aunt works as the VP of Bank of America in her region. they have always spoiled their kids... i mean xbox, xbox360, wii, nintendo DS, PSP.... you cant buy those kids ANYTHING because they already have EVERYTHING and they r those greedy little kids...  i feel bad for them because... well i dont know how they are going to do without...


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## Nikki's Mom (Feb 13, 2008)

The government shouldn't bail anyone out because they don't have the money. The government is trillions of dollars in debt to foreign countries. But the government will print more money to bail out private corporations. The result of printing money based on nothing always is that our money is devalued. Bailing out companies means that the federal govt. owns shares in private corporations, which is called corporatism or socialism. The reason why we got into this mess is because of debt. A debt based economy cannot survive forever because the payments come due. Now we and our children and their children will have to pay for the selfishness of the instant gratification tendencies of our societies. And make no mistake, pay we will. Especially the middle class.


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## BrookeB676 (Oct 17, 2004)

QUOTE (godiva goddess @ Nov 20 2008, 09:38 AM) index.php?act=findpost&pid=674081


> i have my own reservations about socialized/universal health care as well..i see the pros and cons of both side of the issue. but, that is off topic here.
> 
> i do think the economy will definitely get a lot worse, for a long time, before it gets better. good thing is, economy is cyclical, so what does down, will come up..although i think this particular downward spiral is different from the ones we have seen because of the international trend and the emergence of new super powers. that is my own opinion, and what i have seen from many powerful hedge funds now moving out of USA and going to Asia- where all the $$ is. there is a major shift in the power/financial dominance in the world and as globalization takes over, i think the US economy will be forever transformed.
> 
> ...


I couldn't have said it better! Great points. What I think is in particularly telling is the fact that the US economy will never be the same. I think many of us forget that the US has not always been a super power, and losing that "status" does not seem difficult in this environment. I don't think any of us will forget this period of time. It will be discussed just like the Great Depression is discussed today. What is scary about the 1929 crash is that the market crashed in '29 and the economy was the worst (soup lines, etc) in '32-'34. Asia and other international economies have always invested in our Bonds and Treasury Bills. On another note, the whole world is suffering right now. While Asia has massive growth and money, their markets are not doing great either. 

QUOTE (Nikki's Mom @ Nov 20 2008, 11:37 AM) index.php?act=findpost&pid=674136


> The government shouldn't bail anyone out because they don't have the money. The government is trillions of dollars in debt to foreign countries. But the government will print more money to bail out private corporations. The result of printing money based on nothing always is that our money is devalued. Bailing out companies means that the federal govt. owns shares in private corporations, which is called corporatism or socialism. The reason why we got into this mess is because of debt. A debt based economy cannot survive forever because the payments come due. Now we and our children and their children will have to pay for the selfishness of the instant gratification tendencies of our societies. And make no mistake, pay we will. Especially the middle class.[/B]


Agreed! In a free capital market, companies do not get "bailed" out, they go bankrupt. Companies can reorganize through bankruptcy if they still feel they have a viable business. I am very against shifting towards socialism.


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## godiva goddess (Nov 19, 2007)

^^ You hit the nail on the head regarding bailouts. it is a direct contradiction of a capitalist economy. what i do find particularly interesting (and dumb ) in our current situation was Paulson and Bernanke's decision to bail out certain banks and not others. IMO, they chose the WRONG ones to bail out. if they really wanted to, they could have paid out less $$ for a particular bank, and we (the taxpayers) might have been able to make $$ of that too...although, the word on Wall street was that there was personal reason for Paulson here...i dont want to name names but im guessing you probably get what bank and reason i am referring to. needless to say, Paulson is not exactly on my favorite person list...hahahah


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## Julie718 (Feb 17, 2006)

QUOTE (Nikki's Mom @ Nov 20 2008, 11:37 AM) index.php?act=findpost&pid=674136


> The government shouldn't bail anyone out because they don't have the money. The government is trillions of dollars in debt to foreign countries. But the government will print more money to bail out private corporations. The result of printing money based on nothing always is that our money is devalued. Bailing out companies means that the federal govt. owns shares in private corporations, which is called corporatism or socialism. The reason why we got into this mess is because of debt. A debt based economy cannot survive forever because the payments come due. Now we and our children and their children will have to pay for the selfishness of the instant gratification tendencies of our societies. And make no mistake, pay we will. Especially the middle class.[/B]


I completely agree! :goodpost:


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## dwerten (Oct 6, 2007)

yep sadly  equity does not matter as everyone has to show income documentation now -- there are no stated income deals here at wells -- if we get one on system approval client needs to sign a 4506 and that is a request for tax returns from irs so we fax in and if income is different than what was stated we go by the lower. It is really tough for retired and self employed people as well as others now to get financing I have been doing this since 1991 and we are going backwards to 1991 days now for qualifying  Hopefully when the credit markets open back up and investors will want to start buying mortgage back securities things will loosen up a little It is really tough now as it was so loose for a long time but no more. 



QUOTE (I Found Nemo @ Nov 20 2008, 05:13 AM) index.php?act=findpost&pid=673965


> You can't even get a mortgage either?? My Mother In Law's house is worth about 1 million dollars and she wanted to take out about 100 thousand and she only owes maybe 50,000 on the house so thats like 950,000 she has in equity, they told her no :shocked: only way is at 8 1/2 percent???????
> I was just floored I couldn't believe it, I know they are not giving mortgages but I thought will all that equity what do they have to loose?
> Doesn't matter, now thats so scary
> So many people around here are loosing their homes, it's very sad.[/B]


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## Nikki's Mom (Feb 13, 2008)

QUOTE (godiva goddess @ Nov 20 2008, 02:17 PM) index.php?act=findpost&pid=674185


> ^^ You hit the nail on the head regarding bailouts. it is a direct contradiction of a capitalist economy. what i do find particularly interesting (and dumb ) in our current situation was Paulson and Bernanke's decision to bail out certain banks and not others. IMO, they chose the WRONG ones to bail out. if they really wanted to, they could have paid out less $ for a particular bank, and we (the taxpayers) might have been able to make $ of that too...although, the word on Wall street was that there was personal reason for Paulson here...i dont want to name names but im guessing you probably get what bank and reason i am referring to. needless to say, Paulson is not exactly on my favorite person list...hahahah[/B]




It's a good old boys network. They bailed out their friends. (I worked in international banking in NYC for many years.)


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## dwerten (Oct 6, 2007)

LOL I have to agree -- I worked for countrywide for 10 years and I would have to say you are right on the money - glad to be at wells for 5 years now -lol





QUOTE (Nikki's Mom @ Nov 20 2008, 05:57 PM) index.php?act=findpost&pid=674259


> QUOTE (godiva goddess @ Nov 20 2008, 02:17 PM) index.php?act=findpost&pid=674185





> ^^ You hit the nail on the head regarding bailouts. it is a direct contradiction of a capitalist economy. what i do find particularly interesting (and dumb ) in our current situation was Paulson and Bernanke's decision to bail out certain banks and not others. IMO, they chose the WRONG ones to bail out. if they really wanted to, they could have paid out less $ for a particular bank, and we (the taxpayers) might have been able to make $ of that too...although, the word on Wall street was that there was personal reason for Paulson here...i dont want to name names but im guessing you probably get what bank and reason i am referring to. needless to say, Paulson is not exactly on my favorite person list...hahahah[/B]




It's a good old boys network. They bailed out their friends. (I worked in international banking in NYC for many years.)
[/B][/QUOTE]


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## godiva goddess (Nov 19, 2007)

QUOTE (Nikki's Mom @ Nov 20 2008, 04:57 PM) index.php?act=findpost&pid=674259


> QUOTE (godiva goddess @ Nov 20 2008, 02:17 PM) index.php?act=findpost&pid=674185





> ^^ You hit the nail on the head regarding bailouts. it is a direct contradiction of a capitalist economy. what i do find particularly interesting (and dumb ) in our current situation was Paulson and Bernanke's decision to bail out certain banks and not others. IMO, they chose the WRONG ones to bail out. if they really wanted to, they could have paid out less $ for a particular bank, and we (the taxpayers) might have been able to make $ of that too...although, the word on Wall street was that there was personal reason for Paulson here...i dont want to name names but im guessing you probably get what bank and reason i am referring to. needless to say, Paulson is not exactly on my favorite person list...hahahah[/B]




It's a good old boys network. They bailed out their friends. (I worked in international banking in NYC for many years.)
[/B][/QUOTE]

:you rock: 

on another note- it kinda sucks, doesnt it? hehe..


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## MandyMc65 (Jun 14, 2007)

The economy sucks, but my boyfriend and I have been able to take advantage of that!

We both have secure jobs - he works for his dad and they're still busy (even in construction) and I work for a small company that is doing well! Because of all the foreclosures we were able to buy a house on the Monterey Peninsula, which is completely unheard of for 20 somethings to be able to afford that!

The house we just bought sold for twice as much in 2005. As much as it sucks for the other guy and the bank, we got a great deal and will have quite a bit of equity once the market starts to climb back up. So, you CAN get a mortgage loan. We will eventually swing back up, it just will take some time. There's always ups and downs, and right now we're on the way down!


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## domino_angel (Apr 17, 2008)

QUOTE (MandyMc65 @ Nov 20 2008, 06:59 PM) index.php?act=findpost&pid=674359


> The economy sucks, but my boyfriend and I have been able to take advantage of that!
> 
> We both have secure jobs - he works for his dad and they're still busy (even in construction) and I work for a small company that is doing well! Because of all the foreclosures we were able to buy a house on the Monterey Peninsula, which is completely unheard of for 20 somethings to be able to afford that!
> 
> The house we just bought sold for twice as much in 2005. As much as it sucks for the other guy and the bank, we got a great deal and will have quite a bit of equity once the market starts to climb back up. So, you CAN get a mortgage loan. We will eventually swing back up, it just will take some time. There's always ups and downs, and right now we're on the way down![/B]


Ha ha! That's the spirit. Actually, we bought a foreclosed house last April (eight months ago) and got a really good deal. Our area not having been hit by the huge housing mess nearly as badly, it is sooo much harder to find bargains. But, We actually bought equity! Yay. We were very lucky, and the coming upswing will only help matters. As long as we can all stay afloat for a while, everything will be fine.


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## LJSquishy (Feb 27, 2008)

Well, luckily I don't "have" to work, but today I got laid off from my part-time job. I was only bathing dogs for 6-8 hours per week, so nothing drastic, but I really enjoyed it.  The money I made from working there was my "play" money (aka: shopping). I probably won't find another job, lol. My hubby likes me being a housewife.

But, I feel for everyone who has lost their job or knows of someone who has. It's a tough time right now for many people, and I hope things pick back up soon.


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## dwerten (Oct 6, 2007)

yep if you can qualify it is a good time but values will decline until first quarter of 2010 and then are projected to increase from there so hopefully their predictions are right. Congrats on your new home  So we know you have good credit and income now  



QUOTE (MandyMc65 @ Nov 20 2008, 08:59 PM) index.php?act=findpost&pid=674359


> The economy sucks, but my boyfriend and I have been able to take advantage of that!
> 
> We both have secure jobs - he works for his dad and they're still busy (even in construction) and I work for a small company that is doing well! Because of all the foreclosures we were able to buy a house on the Monterey Peninsula, which is completely unheard of for 20 somethings to be able to afford that!
> 
> The house we just bought sold for twice as much in 2005. As much as it sucks for the other guy and the bank, we got a great deal and will have quite a bit of equity once the market starts to climb back up. So, you CAN get a mortgage loan. We will eventually swing back up, it just will take some time. There's always ups and downs, and right now we're on the way down![/B]


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## I found nemo (Feb 23, 2006)

The only thing in all of this is, it gives some the opportunity to own a home they never may have before/.
It's also for people who have wealth and can buy top of the line real estate and just sit on it till things get better.
At least people who deserve to own a home can, so thats maybe one good thing in all this mess


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## xo daisy baby ox (Nov 9, 2008)

This topic hits really close to home! I did admin. work for a car dealership in Thousand Oaks, Ca for 3 1/2 years and was laid off in August, I have been SEARCHING daily for a job since then and have basically come up with nothing! I was offered a job with Countrywide Home Loans that was definitely not the job for me, it is 45 mins from where I live, they told me they were going to give me way more money than I was making at my last job and were just making this job seem like the best job in the world. Then when I went for my interview they said we would be doing offers and negotiations for how much I would be making, plus I would need to make collections calls to people that were upwards of 15 payments past due on their mortgage!!! Now having come from being laid off, I know what its like to be just squeezing by! There was no way I was going to call people who are broke and ask for their money! I'm too nice for that! lol Other than that, I have had almost no job offers, its ridiculous. It also seems like employers just don't care anymore. I interviewed on the Navy base across the street from where I live and just never heard back, I called and emailed not only the person who interviewed me, but her boss also and never received a courtesy call or email back from them! HOW RUDE! :thmbdn: I have interviewed with temp/staffing agencies just to see if I could get something, but even those are coming up dry. The job I had was the job that I got right after I moved here from Palm Springs so that makes it even harder not being familiar with businesses in the area. I fear that I will be looking for a job for a while! Maybe Daisy and I could start a traveling circus! We have a great little bit that we do!! hehehehe :smrofl: All I know is that many people close to me are in the same situation if not worse and it doesn't look to be getting any better any time soon!!!!! I just have to keep a positive attitude and really believe that the right job for me will come along when time time is right. Oh....just one super negative about being laid off from my job....I lost all my insurance! I am diabetic and don't have the money to pay for my insulin!!!! Its so stressful! All of the medical assistance programs are reeeeeally slow too! booo hoo!!! Talk about kicking me while I'm down!!!! :smilie_tischkante: I don't know, Feeling sorry for myself is going to be my last straw, I will let you know when I get there! hahahaha


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