How did the 2008 depression affect you?

[apelike]

sorry, ape

 

Now that better as being an ape I don't wear Dandy clothes or dress up.

[Snapshot]

With all due respect

 

This is codswallop!

 

Maybe you could explain

 

Why you think what I

 

Said is "codswallop" dude.

 

Pessimism plays a huge

 

Part in prolonging recessions.

[Petminder]

Genuine question, how did the dreadful 2008 recession affect you? Interest rates low if you had a mortgage ...All I can think of is that tuna used to be 27 pence a tin , then the price doubled overnight to 57 pence.

 

Not being flippant but would like to hear of other peoples' experiences - was it really that bad?

 

I didn't notice any difference, I didn't have a mortgage so didn't benefit from low interest rates, I owned an house but it's lower value didn't make it any smaller or less habitable. I wasn't rich so I didn't suffer from lower share values or low interest rates on savings. Life just carried on without any noticeable difference. My children moved to new jobs after being made redundant but both managed to get on the property ladder because of lower property prices.

[tzijlstra]

I didn't notice any difference, I didn't have a mortgage so didn't benefit from low interest rates, I owned an house but it's lower value didn't make it any smaller or less habitable. I wasn't rich so I didn't suffer from lower share values or low interest rates on savings. Life just carried on without any noticeable difference. My children moved to new jobs after being made redundant but both managed to get on the property ladder because of lower property prices.

 

What about your kids' pension age, did that not go up dramatically? Or is that irrelevant because you didn't notice that?

[L00b]

Was in Ireland (Republic), saw it coming in '07 and local mood was getting very anti-immigrant, so I thought it wouldn't be a good place to stay for spending a recession.

 

Planned a quick exit, opportunity to come back to Sheff mid-08 came up, so went for that. Double-good in view of expected hard times, since in-law family/friends in the area.

 

Not much (recession-derived) hardship post-08, down to good planning if I will say so. Plenty of life knocks just the same, though. Like everybody else I expect.

[Cyclone]

Genuine question, how did the dreadful 2008 recession affect you? Interest rates low if you had a mortgage ...All I can think of is that tuna used to be 27 pence a tin , then the price doubled overnight to 57 pence.

 

Not being flippant but would like to hear of other peoples' experiences - was it really that bad?

 

I was coming to the end of a contract. Looked for a new role and the closest work I could find was in Essex. Spent 3 months there, then 9 months in London before finding something in Nottingham.

 

---------- Post added 25-06-2016 at 08:27 ----------

 

For the people who are commenting on house prices (particularly in a positive, it helped me buy kind of way), the fall in prices was pretty small and short lived.

 

http://www.economicshelp.org/blog/5709/housing/housing-market-stats-and-graphs/

[Petminder]

What about your kids' pension age, did that not go up dramatically? Or is that irrelevant because you didn't notice that?

 

I will have to wait a little longer before receiving state pension, as will my children, but its not an issue that concerns me and it's nothing to do with the 2008 crash.

[Cyclone]

The current "austerity" that we are all suffering is the direct result of the 2008 crash.

[GLASGOWOODS]

No impact on me personally. In fact, my annual salary increased by a third. It's more recent that i'm witnessing/via meeting with Social Services/Local Authorities severe cuts in Health&Social Care spending. They're scared to death of care/support providers handing back contracts because they're no longer viable. Not good times at all.

[L00b]

The current "austerity" that we are all suffering is the direct result of the 2008 crash.

We haven't really had any (as acknowledged by your " ").

 

For real austerity policies, people need to look at what happened in the PIIGs post-2008.

 

Fwiw, my current plans forecast for real austerity policies to start in UK before year end, with effects starting to get felt in early 2017. Ring fence around NHS budget to go soon.