Economy

NikiGee

Is anyone else scared shitless by what's going on?

How has it affected you if at all?

Us?  My dh was slated to be laid off about three weeks ago and at the last minute crisis was averted because he offered up a substantial pay cut.  A slap in the face to take the pay cut but still way more than $450/week on unemployment.  Seriously.  When will we hit rock bottom and start the climb back up?  This is SCARY.

javasun

This is crazy!  I was a software engineer and I personally felt a lot of the dot com bust during the 2000 crash.  I've never seen the overall market crash like this before. 

The worst of it is that the frozen credit is followed by an insanely bloated bubble.  There were warnings left and right about the housing bubble but people ignored it and kept buying, and naturally can't afford when the housing bubble starts to deflat.  I mean most of us saw it coming!  But yet there is nothing can be done to stop it. 

I just hope that after the 700 billion spent on the greedy banks, the market will be more stable somehow.  If we lose that 700 billion and the market still crash in the long run, it just sucks for the rest of us. 

Luckiest13

my husband does commercial real estate. so yes, it is very scary. so much for being a SAHM! thats not happening anytime soon.

KristelRobin

Terrified.  We did substantial renovations and had planned to sell our house and move to a house my in-laws own in Tustin, but our house has lost about 30% of it's appraised value from about a year and a half ago, so we are stuck and can't move.  DH used to work in the mortgage industry, and now makes about 1/2 as much as he used to.  I'm a lawyer, but work is getting slower and slower, and with the economy continuing to go downhill, I'm afraid that my firm might do layoffs at some point.

I had also hoped to at least work part-time, maybe stay home a couple of days a week after the baby was born, but that is so not happening now.

jaymewilson12

Yes I think it's scary.  It's been REALLY rough for us.  When my DH started a new job 6 months ago he took a pretty big paycut which hurt but this job has alot of advancement opportunities.  So with that and me being off work on disability we are SCRAPING by at the moment.  Luckily he is up for a position that would really make life alot easier.  So we are crossing our fingrers for that.

 

beachbrideinCal

I am concerned, too. I'd say it's affected me since we have wanted to buy a house for a while now, but we've put it off due to these economic things. We don't want to be 'stuck', if for some reason something happened to DH's job. (Works at the port of LB and business there is down 40%!)  If we bought a house right now (or before), we wouldn't have as much flexibility in moving, if we needed to. Plus, I just started a business, so it'll be interesting to see how these economic times might affect this. 

daveshell1

My dh's job is very secure, but it still totally freaks me out. ?I'd say the only way it's affecting us is that if it gets bad enough, we'll be done with the babies. ?Im very fortunate that dh is a saver and a planner, so we are pretty ok, and he works in the food industry (sales to big companies ex: tyson) and well, everyones gotta eat. ?I do worry especially a lot about my family though. ?Some of them aren't financially stable and in this economy those are the ones who are going to feel it the worst.

bridetobe0jb

yes!  there is a very real possibility of me being laid off for the 2nd time this year and we have doubled many expenses that DH can't cover alone and I have the benefits.  I even moved industry's when I got laid off in April and within a month of starting my new job they announced a corporate buyout. 

disney_bride10

Yeah, it's been a little rough. My DH's business is down big time so they cut his pay, along with his counterpart, boss, and the owner. He got a 25% pay cut and that was the smallest pay cut the company handed out. The owner is only bringing home $1,000/month. It's scary and crazy.

I'm only working 6 hours at my current job because business is slow and we need to keep overhead down. This meant I had to get another job. Thank goodness it is flexible and I work another 2 hours when I leave my 1st job. It makes for a very exhausting pregnancy bouncing from place to place just to make a few extra bucks.

We bought a condo last year and have been kicking ourselves since. I try not to think about the fact that we would've been able to save for another year and probably get into a single family home rather than a condo. We can't even refinance our place because the values are such crap right now. That really sucks.