G-J-B

Andy might get their wish after all... I think it's obvious it's started already, although not officially declared, however there are more and more media stories of late. Some say unemployment in France could top 10% before the end of the year. It has also been 16 years since France had its last recession. Fasten your seatbelts, we could be in for a bumpy ride in 2009!

Andrea50

Oh lawks, I suddenly feel really guilty! Maybe the adage "Be careful what you wish for" could apply here, but it would probably help us at the moment.

I'm very torn now, because whilst I am wishing for something to happen that might help us buy a cheaper property, some Spiv Developer this morning offered me £75,000 for my £100,000 flat and I was right fed up about it.

Then I thought: no different from what I am trying to do in France! However, he is obviously trying to cash-in in order to be able to make money later on at people's expense - I am not trying to do that, we just want a home and to recoup a bit of our losses from our own property value drop.

Sounds a bit feeble as an excuse even to me

G-J-B

Don't feel bad, I'm sure you're not entirely responsible!
For many many years now, I've followed another forum about the economy and houseprices. When all the media and a lot of Joe Public were thinking themselves very rich it seemed quite obvious to me that a bubble was forming and it was going to pop. Well pop it did, and suddenly the media did a u-turn and can't get enough of promoting all the doom and gloom.
Many people who have so far been right on the ball with regards to predicting the financial outcome also see the Euro as presently overvalued. They don't see the pound going much lower (if at all). Who knows, maybe we can get back to 1.25 euros to the pound before the end of the year. Alas, I couldn't ever see it being higher, at least not for some time.
My friend bought a very small place about a year ago in the UK (against my good advice) for 125k and he's now in about 30k negative equity, and now his Mrs of 4 years has just left him too.
It's a tough storm to battle, but don't worry if you get a few cheeky people pushing their luck. If it takes a little longer to sell at a price you're happier with, at least there's every chance the pound will strengthen.

Ka Ora!

I have been wondering as of lately what influence the Media has on it. For example should the Media not be allowed to Hark on constantly about these things would people just carried on spending as normal, Thus economies may not of come to such a stumbling halt. I for one believe that the BBC no longer deserve to be given a proportion of the license fee. It's nice not having adverts but like all the other news channels they flog a dead horse everyday, 15 Min cycle of news rarely changing it. People would probably like to see a bit more of the localized issues instead. A more indepth look at our Euro Neighbors.

G-J-B

Absolutely, the media milks whatever they think sells, and doom and gloom sells. I don't see nearly as much negative news in France compared to the UK; I definitely think the media is responsible for making things worse. Still I guess some people needed a slap in the face before they realised they were getting themselves into debts they could never service. I don't think bankruptcy the simple 'get out of jail free' card, some people think it is.

BBC are as biased as any UK station can be, and they denied blue murder that the economy was in trouble right up until the moment it was ridiculous to deny otherwise.

Somebody get me off my soap-box!!

jmh

Why are the UK media so negative? You suggest doom and gloom sells. Is it in the culture?

Ka Ora!

It's like fishing, Doom and Gloom is the best bait.

Nt016

we are messed up here too, my company has just announced they are axing 350 jobs out of 380 in my little town

Ka Ora!

Any market that has flourished in an abnormal fashion over the last 15 to 20 is going to take a hard hit at the moment. We are like the rest of Europe going to find ourselves top heavy with IT professionals, It had to happen at some point, With all the advertising to become an IT consultant or a Driving instructor the industry is awash with people. The only way to stay ahead now is shine out in the crowd and one thing is to be skilled in as many areas as possible.

G-J-B

My partner got pulled into a meeting yesterday morning and informed 94 of their 200 staff in the London head office are being made redudant (she works in a corporate law department). I believe they were called in and told about it, because their Paris office is going to take some hits. I suppose fortunately in some respects she is pregnant, a member of the union and very much liked by the top bosses in the firm, but you never do know what's around the corner. I don't believe it's as easy for the French employers to get rid of people, but I'm sure there are means, especially in troubled financial times.

Herman

My neighbour here in Paris was made redundant this week (works in IT). Absolute nightmare as only a few weeks ago they were in discussions with the company about an overseas secondment, which they were extremely excited about. So from joy to despair in just a few short weeks. I work for a large finance company and we are all trying to reassure ourselves that our company does not do that kind of thing, but the truth is, we are all extremely worried about what 2009 will bring.

G-J-B

That's harsh Herman. At least my partner's company had this meeting to soften the blow (I'm not sure all the staff have clicked that it could well lead to a knock on effect to the Paris branch!)
I believe if you're made redundant the state will pay a large percentage of the wage you were on for some time, but it must be hard finding another job, even in Paris, and goodness knows with the cost of things you'll soon start hemorrhaging money.
Fortunately we have security with our apartment, but we would be stretched mighty, mighty thin if we had to live on my salary alone. Touch wood all will pan out well.