Is the recession over for you?

A Battered Mars Bar

Been over for me for a few year now boss. Haven't had this much caviar in all me life. Going to buy a holiday home off the plans in Bulgaria soon. You'd be a fool not to! Prices will only go up and up!!

But seriously guys. Is anyone here genuinely still in recession?

ytpe2r5bxkn0c1

Jeez you don't make it easy.


Never having partied through the Celtic Tiger, overstretched my credit, risked money I couldn't afford to lose on investments, nor bought bank shares, I never felt the recession at all.

SEPT 23 1989

Many people are only starting to get back on their feet now since 2008 and are looking in horror at the carry on in some of the wide eyed innocence posted on the threads in the Accommodation and Property forum

We had some sort of excuse they will have none this time

Wheeliebin30

Kellen Whining Misogyny wrote: »

Jeez you don't make it easy.


Never having partied through the Celtic Tiger, overstretched my credit, risked money I couldn't afford to lose on investments, nor bought bank shares, I never felt the recession at all.

De banks made me do it.

The_Valeyard

Wages only starting to recover. Still earning less, but loving family, roof over my head, enjoy my work, great friends. So I'm doing fine.


But if I've to pay again for the actions of bankers and speculators....well then, bets are off.

Bif

A Battered Mars Bar wrote: »

Been over for me for a few year now boss. Haven't had this much caviar in all me life. Going to buy a holiday home off the plans in Bulgaria soon. You'd be a fool not to! Prices will only go up and up!!

But seriously guys. Is anyone here genuinely still in recession?

Get back into the taxi!

Wheeliebin30

The_Valeyard wrote: »

Wages only starting to recover. Still earning less, but loving family, roof over my head, enjoy my work, great friends. So I'm doing fine.


But if I've to pay again for the actions of bankers and speculators....well then, bets are off.

And people.

Giblet

With what I'm paying on rent, wish I threw myself into a house "i couldn't afford"

Toots

Still recovering here. Husband was in construction and was out of work for nearly 3 years - ended up re-training. I ended up very I'll during that time so we went from 2 decent incomes to illness benefit and nothing else. We're still trying to clear the debt we built up during that time.

Winterlong

I was not too exposed during the recession so higher tax and stagnant wages were the biggest impact. Both getting better now.
Low interest rates for the last decade was a nice balancer.

Zebra3

Worked through the recession without a paycut, drop in mortgage rates meant I actually had more disposable income as a result.

Not something I used to mention to people back then.

But it was horrible to see what others went through.

buried

Got a breakfast roll during the week, so yes, it's over

gizmo81

Second wave recession for me. My income hasn't changed much but prices are going up. A rent increase notice of 19% for the summer because he fixed broken tiles and doors.

During the recession everyone, shops, restaurants all wanted business so I felt any disposable income I had stretched further. Now I'm very aware of where I shop or where I eat as it doesn't stretch that much.

C Montgomery Gurns II

SEPT 23 1989 wrote: »

Many people are only starting to get back on their feet now since 2008 and are looking in horror at the carry on in some of the wide eyed innocence posted on the threads in the Accommodation and Property forum

We had some sort of excuse they will have none this time

What sort of carry on is that? I do see reports about new housing estates having buyers camped outside and all the comments underneath of "we learned nothing". In fairness if someone wants to spend 350K on a new build with a waiting list, they have to sufficiently prove that they can repay a loan of, at most, 315K, to buy the property- something that didn't exist back when any couple over their mid 20's with a half permanent contract would be handed a 100 percent mortgage. I wouldn't be caught dead spending 350K on a new build, if only because there are plenty of decent three beds in Dublin for little more than half that (and plenty of ex corpos for much less than half, if you think you know the area well enough to give it a go), but if someone wants to spend that, let them.

Stheno

C Montgomery Gurns II wrote: »

What sort of carry on is that? I do see reports about new housing estates having buyers camped outside and all the comments underneath of "we learned nothing". In fairness if someone wants to spend 350K on a new build with a waiting list, they have to sufficiently prove that they can repay a loan of, at most, 315K, to buy the property- something that didn't exist back when any couple over their mid 20's with a half permanent contract would be handed a 100 percent mortgage. I wouldn't be caught dead spending 350K on a new build, if only because there are plenty of decent three beds in Dublin for little more than half that (and plenty of ex corpos for much less than half, if you think you know the area well enough to give it a go), but if someone wants to spend that, let them.

Hmm 28 three bed houses for sale in Dublin for 175k or less.
I wouldn't call that plenty tbh.

http://www.daft.ie/dublin/houses-for-sale/?s%5Bmxp%5D=175000&s%5Bmnb%5D=3

Lia_lia

I started college in 2008 so didn't really experience the recession. Always had part-time jobs throughout college. Finished college and got a good job. I was lucky! None of my family members lost their jobs, bought expensive houses etc..

Many of my colleagues are still in sh*t after the recession. All from buying property they could not afford.

s4uv3

I didn't buy a property thanks be to fcuk, so I'm not in debt.
But. I'm still taking home €100 per week less than I was ten years ago. Same job, ten years company loyalty and experience. It's shocking bad.
Asked for a raise late last year and was offered 1.5%

Conall Cernach

Kellen Whining Misogyny wrote: »

Jeez you don't make it easy.


Never having partied through the Celtic Tiger, overstretched my credit, risked money I couldn't afford to lose on investments, nor bought bank shares, I never felt the recession at all.

I never partied either or any of the other things you mention. I still lost my job at the end of 2012 and haven't been in full time employment since. So while for some people a lot of their recession based misery was self inflicted others were hit hard despite doing everything "right."

Gen.Zhukov

While the recession may be technically over, there is/will be a lot of residual problems left and these could be for life for some people.

It was a bad one and lasted a long time. During that time things moved on. Jobs became much more tech/IT orientated. It has moved from a "yeah, he's at an employable age" to hmmm, "50 something ? nah lets get someone a bit younger".

It's far from over for a lot of people.

Still, on the up-side, as long as people keep voting for Michael Lowery and Denis gets a few more contracts from the government, we should be fine.

endacl

I chose to not participate in the economic downturn. Can't say it's over, because the recession never started for me...

Cupcake_Crisis

I was in college throughout a lot of the recession so didn't really feel it too much. But my folks will only recover from it if they win the lotto or have a major windfall.

My dad took redundancy there last year after 40 odd years in the same place. His package didn't even clear their mortgage. They haven't a pot to piss in, and we used to be very comfortable.

Senna

C Montgomery Gurns II wrote: »

What sort of carry on is that? I do see reports about new housing estates having buyers camped outside and all the comments underneath of "we learned nothing". In fairness if someone wants to spend 350K on a new build with a waiting list, they have to sufficiently prove that they can repay a loan of, at most, 315K, to buy the property- something that didn't exist back when any couple over their mid 20's with a half permanent contract would be handed a 100 percent mortgage. I wouldn't be caught dead spending 350K on a new build, if only because there are plenty of decent three beds in Dublin for little more than half that (and plenty of ex corpos for much less than half, if you think you know the area well enough to give it a go), but if someone wants to spend that, let them.

Sounds a lot like "this time it's different, I swear".
Prices are getting to ridiculous levels again, another recession won't be long wiping out the equity that the CB now require, especially in a falling market. Not to mention when interest rates rise again, the 350k might be manageable on historic low interest rates, but what about when they get up to what the Germans want them to be?

retro:electro

I was never not recessed

Free-2-Flow

I believe I am, I bought a house for 310,000 in "The good times" (2007)
It was my 1st house and I was 22 years old.
At the time myself and wife where making about 1500 Euro a week between us.
Now a day we make a little over half that.
The mortgage is still the same price but the house is worth half.

Pinch Flat

Earn the same now as I did in 2008 so between the USC, property tax (bought home in 2004, not in negative equity), inflation / wage stagnation and other stealth taxes, there's certainly more jobs / opportunities out there, but financially I'm worse off than nearly a decade ago.

.........

Kellen Whining Misogyny wrote: »

Never having partied through the Celtic Tiger, overstretched my credit, risked money I couldn't afford to lose on investments, nor bought bank shares, I never felt the recession at all.

Neither would have most people on this forum, yet many younger professional people, in real terms have seen their wages and pensions fall dramatically and permanently lower, compared to older employees finishing their careers, who overall have it it very sweet indeed. Meanwhile the rich just got even richer, and done very nicely out the recession. The inequality generation gap is larger than it's ever been. Most younger professionals in Dublin today will never own their own home, or will have any type of state pension left to claim by the time they retire.

please helpThank YOU

Brexit will make the recession of 2008 a walk in the park this is going to be the big one .

keeponhurling

......... wrote: »

Kellen Whining Misogyny wrote: »

Never having partied through the Celtic Tiger, overstretched my credit, risked money I couldn't afford to lose on investments, nor bought bank shares, I never felt the recession at all.

Neither would have most people on this forum, yet many younger professional people, in real terms have seen their wages and pensions fall dramatically and permanently lower, compared to older employees finishing their careers, who overall have it it very sweet indeed. Meanwhile the rich just got even richer, and done very nicely out the recession. The inequality generation gap is larger than it's ever been. Most younger professionals in Dublin today will never own their own home, or will have any type of state pension left to claim by the time they retire.

Pac1Man

^^^ What has the sun got to do with this?

Beta Ray Bill

A Battered Mars Bar wrote: »

Been over for me for a few year now boss. Haven't had this much caviar in all me life. Going to buy a holiday home off the plans in Bulgaria soon. You'd be a fool not to! Prices will only go up and up!!

But seriously guys. Is anyone here genuinely still in recession?

Recession is definitely over, but wages still need to come up a good bit across the board

Also, I think we're starting to inflate a new bubble at the moment.
Price of everything is very very high at the moment, nothing is cheap anymore.

Allah snackbar

please helpThank YOU wrote: »

Brexit will make the recession of 2008 a walk in the park this is going to be the big one .

I'm going to predict a recession in the coming years , but then I see a stagnation in the market and a growth period which brings prosperity , followed by a recession , stagnation and prosperity , I'll keep saying this because I know like death and taxes it's as sure as my arse is behind me

razorblunt

I was in Uni through most of the recession, still had a decent part time job so never really felt the pinch.
I remember Graduating in 2008 and thinking where are all the Grad Programmes! Went back to do a Masters so in 2009 I went to the UK for a Masters and have tipped along nicely since. I'm still here, but will probably move home in 4 or 5 years.

The big thing here now is moving from an apartment to a house. Ideally we'd like to do it next year but even though our city seems to operate in its own property bubble I'm still anxious over Brexit so I'm not going to pull the trigger on a new gaff just yet.

Dr. Kenneth Noisewater

I'm a Public Servant (don't shoot!).

We felt the recession insofar as we took a few paycuts. My wage is probably down €100 a week on what it would have been right now had we not been cut, but I never lost my job so I won't complain too loudly, even if it was a pain in the arse at the time.

I never bought property luckily, or it might have been a different story. I felt sorry for some of my colleagues who had a mortgage and a few mouths to feed.

Shurimgreat

There was a recession?

Achasanai

I felt the recession alright, although certainly not as bad as a lot of people. Eventually ended up losing my job (the place I was working in was closed down) and spent a fair bit of time on the dole. I ended up putting the money we got from the redundancy pay-off into going back to college. It's been a long time of not being in work, working part-time hours, getting my dole cut, losing the place where I was renting, but I'm finally in a professional job and earning much better money (although I was working in retail before, so that wouldn't be hard). Having said that, as I was on such bad money during the 'good times', I never had the chance to invest in bad property deals/get into bad credit.

I would never count my chickens, however, and know that a downturn could be just around the corner.

Bambi985

Never really went through it as went straight into a job out of college and emigrated in 2010. The legacy of the recession hits me right in the balls though. Hard to conceive of every affording a home in Ireland, which was always the plan, as Dublin is my only option career-wise and ROFL at current house prices :mad::mad:

BattleCorp

please helpThank YOU wrote: »

Brexit will make the recession of 2008 a walk in the park this is going to be the big one .

I'm afraid that you may indeed be right.

Wossack

no recession here - no room in the back, so am considering decking the front garden at this stage

I was very lucky when it came to the recession, it's only now that I'm feeling the pinch.

I was made redundant in 2012 but was very lucky to get another job within 9 days!

Also, I rented a 2 bedroom apartment by myself in Fairview for €650 a month in 2010. The rent was never touched during the 6 years that I lived there so I was living quite comfortably, particularly near the end. So when the landlord told me he was selling up, I had to face the reality of the rental market. I'm now sharing a place in Swords for nearly the same amount and have no idea where I'll end up next.

Walter H Price

Never really felt it at all to be honest came out of School in 08 as the **** hit the fan , we were told leaving collage 3 years later getting a job would be a nightmare but me and my OH have never been out of work and been promoted 7 times between the two of us over the last 4.5 years. None of my family lost jobs or earnings , some of them made a killing picking up cheap property after the crash and renting it / selling it now for a mint. a few of my mates emigrated but only 2 or 3 and only 1 still away and that's by choice really.

The last 2 years its definitely a distant memory , look at the demand for housing again , that's the only gripe real is that even with 2 good salaries and a combined €100k plus getting a mortgage is a pain in the Swiss. That and the poxy USC , not really arsed paying for other peoples bank debt to be honest, do agree the banks should have been let go to the wall.

robbiezero

Walter H Price wrote: »

Never really felt it at all to be honest came out of School in 08 as the **** hit the fan , we were told leaving collage 3 years later getting a job would be a nightmare but me and my OH have never been out of work and been promoted 7 times between the two of us over the last 4.5 years. None of my family lost jobs or earnings , some of them made a killing picking up cheap property after the crash and renting it / selling it now for a mint. a few of my mates emigrated but only 2 or 3 and only 1 still away and that's by choice really.

The last 2 years its definitely a distant memory , look at the demand for housing again , that's the only gripe real is that even with 2 good salaries and a combined €100k plus getting a mortgage is a pain in the Swiss. That and the poxy USC , not really arsed paying for other peoples bank debt to be honest, do agree the banks should have been let go to the wall.

You would have been happy to lose your 100K ya?

Walter H Price

robbiezero wrote: »

You would have been happy to lose your 100K ya?

i don't think the bailout was necessary , for us in fact it did as much damage to the economy as letting one or two most notably Anglo go , it would have damage Foreign interests a great deal more which is why the gun was put to Brian Lenihans head.

seamie78

Allah snackbar wrote: »

I'm going to predict a recession in the coming years , but then I see a stagnation in the market and a growth period which brings prosperity , followed by a recession , stagnation and prosperity , I'll keep saying this because I know like death and taxes it's as sure as my arse is behind me

its almost as if there is some kind of cycle of boom and bust

pilly

Free-2-Flow wrote: »

I believe I am, I bought a house for 310,000 in "The good times" (2007)
It was my 1st house and I was 22 years old.
At the time myself and wife where making about 1500 Euro a week between us.
Now a day we make a little over half that.
The mortgage is still the same price but the house is worth half.

Jesus, house must be in Donegal or something if it's only worth 155k?

Lau2976

I started my business in the recession so never really had anything to compare to tbh. Most of my sales come from out of the country so I'm more affected by the economy of the US and Asia where my biggest clients would be when it comes to that.

Tax is a bit of a bitch but again nothing to really compare to, the same with rent.

I've been very fortunate the last few years with a good landlord who would rather a reliable tennent then the risk of taking a new one. I've been able to rent a two bedroom house in Dublin by myself. Now my OH has moved in it's much easier but I could still confidently afford it if I needed to.

Sky King

Yes it's over for me and i celebrate by putting my smug fking face on billboards around the country having paid off my mortgage

Parchment

I live a simple enough life so i wasnt affected.

We bought a house this year so hopefully that works out well. It wasnt strategic when we bought it, the time was just right for us but it seems that we got in before the madness started.

Achasanai

please helpThank YOU wrote: »

Brexit will make the recession of 2008 a walk in the park this is going to be the big one .

Nobody can predict what's going to happen with Brexit, in fairness. Even the doom-mongers who predicted a significant dip after the result were proven wrong. Not to say it won't happen, but we just can't say the impact that Brexit will have specifically.

That there will be a recession in the next generation, however, is fairly easy to predict. It's been happening since long before we were born.

knipex

The_Valeyard wrote: »

But if I've to pay again for the actions of bankers and speculators....well then, bets are off.

It wasn't all bankers and speculators.

It was politicians, everyone that screamed for looser lending, everyone that borrowed money, everyone that looked for more spending shouted for lowering taxes..

99% of the population..

pilly

I'm earning half now what I used to in 2008 but some of that is down to lifestyle choice. I decided to get out of Dublin and enjoy a slower pace of life but that comes at a price.

Also, USC is a fcuking killer.

I can't complain too much, I've enough money to live comfortably. Only thing is I don't feel very secure. No savings left so and no sick pay in my job so if anything were to happen to me tomorrow I could be in serious trouble.

The recession didn't really impact upon me. Any decrease in earnings and change in lifestyle came about due to my own decision making. I am extremely lucky to not have a massive mortgage or debt of any kind. It's funny because before the downturn happened I was in bother with a loan and a credit card. I used that thing like it was free money with no foresight for the future at all. €500 handbags, €50 on a bed sheet, that kind of thing. I was very cavalier with money.