archkre Posted November 27, 2007 Share Posted November 27, 2007 How are you dealing with this creepy recession in the Real Estate market in US? It is Real Estate and all related activities: construction, architecture, viz industry, etc. How are you making a living? In Florida, this recession is comparable to what happened after 9/11 and I've read the worst is yet to come! Crack and bankruptcy in major Home-builders, massive layoffs ....! What are you going to do? Heeeelllllppppp! Link to comment Share on other sites More sharing options...
gfa2 Posted November 27, 2007 Share Posted November 27, 2007 Diversify for starters. The commercial, industrial and military markets are doing fine in my part of the country. I've never relied on residential to make a living. Link to comment Share on other sites More sharing options...
rotten42 Posted November 27, 2007 Share Posted November 27, 2007 How are you dealing with this creepy recession in the Real Estate market in US? It is Real Estate and all related activities: construction, architecture, viz industry, etc. How are you making a living? In Florida, this recession is comparable to what happened after 9/11 and I've read the worst is yet to come! Crack and bankruptcy in major Home-builders, massive layoffs ....! What are you going to do? Heeeelllllppppp! recession?...there's no recession in Calgary. The place is still booming Link to comment Share on other sites More sharing options...
archkre Posted November 27, 2007 Author Share Posted November 27, 2007 recession?...there's no recession in Calgary. The place is still booming Don't worry! U.S. Recession is on its swift way to Calgary!! Link to comment Share on other sites More sharing options...
rotten42 Posted November 28, 2007 Share Posted November 28, 2007 Don't worry! U.S. Recession is on its swift way to Calgary!! don't count on it. We may get a bit of a slow down but that will just bring it down to busy from isane. Housing stats are still up and there are still close to 50 cranes working in the core. Link to comment Share on other sites More sharing options...
Joseph Petrino Posted November 28, 2007 Share Posted November 28, 2007 There is still work here in NY but all the bad news has me worried also. The recession after 9/11 almost killed me and I really haven't fully recovered yet from it. Link to comment Share on other sites More sharing options...
Devin Johnston Posted December 5, 2007 Share Posted December 5, 2007 In Texas we seem to have dodged that bullet, home prices dropped about 5% since this mess started but some areas have even increased. If your business was built around the home market your probably in trouble though since a recovery isn't even projected to start nationwide until the beginning of 2009. Link to comment Share on other sites More sharing options...
Jeff Mottle Posted December 5, 2007 Share Posted December 5, 2007 On the way back from AU I was sitting next to a bank analyst for one of the major US banks and he said all of the major indicators say there should not be a recession like is being seen. I guess it was initially triggered by hedge fund managers, which was then picked up by the media who continue to perpetuate the recession scare which in the end actually causes one. It's a conspiracy. Link to comment Share on other sites More sharing options...
Crazy Homeless Guy Posted December 6, 2007 Share Posted December 6, 2007 if you want to hear my honest side, i will tell you a recesion might do america well. ...but i have my own reasons for thinking that. Link to comment Share on other sites More sharing options...
Ernest Burden III Posted December 6, 2007 Share Posted December 6, 2007 if you want to hear my honest side, i will tell you a recesion might do america well. ...but i have my own reasons for thinking that. Dude wants housing prices depressed--he's gotta find a place in San Francisco! Link to comment Share on other sites More sharing options...
Sawyer Posted December 6, 2007 Share Posted December 6, 2007 It's a conspiracy. I don't know if its a conspiracy Wall Street seems just like the goofiest idea. Seems like the only movement is not based on actual events but on what people think actual events may be. Anyway I read today that in Oct there were 1.8 million foreclosures and in all of 2006 there were only 1.6 million. And next year is supposed to be worst. Link to comment Share on other sites More sharing options...
Crazy Homeless Guy Posted December 6, 2007 Share Posted December 6, 2007 Dude wants housing prices depressed--he's gotta find a place in San Francisco! that would be an added bonus. Link to comment Share on other sites More sharing options...
archkre Posted October 5, 2008 Author Share Posted October 5, 2008 Back in November 27th, 2007, it was possible to foresee what now is happening! Can't believe some people are still denning today recession. Link to comment Share on other sites More sharing options...
shaneis Posted October 5, 2008 Share Posted October 5, 2008 (edited) I don't know if its a conspiracy Wall Street seems just like the goofiest idea. Seems like the only movement is not based on actual events but on what people think actual events may be. Anyway I read today that in Oct there were 1.8 million foreclosures and in all of 2006 there were only 1.6 million. And next year is supposed to be worst. That's exactly it. Speculative finance. Banker: "We create the need for credit, that future need has a value and we lend money to various sectors according to that speculated value." Common Sense Man: "So your lending money that doesn't even exist yet? Banker: "Yes, it's brilliant isn't it." Common Sense Man: "Then what will happen if all that money you 'think' is coming in the future actually never arrives. Won't you have less money than you have lent?" Banker: "Not exactly, we recover some money from our 'valued customers' who in turn will need more money in the future, so we can lend them more money, which will actually increase our credit pool, which means there will be even more money for us in the future so we can lend more money... see, we'll actually make more money" Common Sense Man: "So that means you will make your customers; the people, families, businesses and governments all pay for your debts and make more money for you at their expense. So, you actually own everything that we have now and will have in the future?" Banker: "Yes, it's brilliant isn't it." Common Sense Man: "I think I'm going to vomit." Banker: "Yes, that's the usual response." Edited October 5, 2008 by shaneis Link to comment Share on other sites More sharing options...
Dave Buchhofer Posted October 6, 2008 Share Posted October 6, 2008 (edited) Back in November 27th, 2007, it was possible to foresee what now is happening! Can't believe some people are still denning today recession. yea man, I talked a couple friends down from the 'house flipping' insanity right before it went to hell. I don't know, i saw it as an obvious problem as far back as 3 years when I bought my place. people were buying Shell rowhomes in philly that needed FULL rehabbing for 200k? I didn't know it was quite as prevalent as it turns out, but eh. it seems there's a definite dearth of common sense out there in the wild blue yonder. As to the work.. there was a bit of a slow patch, but only having a minor stake in residential, and that being on the higher end, its looking relatively steady for the foreseeable future. shame the foreseeable future in this business is like 9 months Edited October 6, 2008 by Dave Buchhofer Link to comment Share on other sites More sharing options...
Frosty Posted October 6, 2008 Share Posted October 6, 2008 I think the "slowdown" or whatever you want to call it tends to be in localized areas in specific market segments - specifically housing in areas where the market was artificially inflated. I'm currently working on large institutional work and there seems to be no impact on our work yet - not even a hint of a slowdown. Of course it may just take time to hit larger projects that are not developer or investment funded. Link to comment Share on other sites More sharing options...
Antisthenes Posted October 6, 2008 Share Posted October 6, 2008 I knew this would happen when i protested the WTO in Seattle of 99. Adam Curtis has some great documentaries all about this. Link to comment Share on other sites More sharing options...
Ky Lane Posted October 6, 2008 Share Posted October 6, 2008 (edited) recession?...there's no recession in Calgary. The place is still booming Same here in Australia. Yay for self centered capitalism! USA! USA! USA! I wonder how many peoples livelyhoods, families and lives could be saved now by pulling out of Iraq? Isnt it time to look after your own? Edited October 6, 2008 by Ky Lane Link to comment Share on other sites More sharing options...
shaneis Posted October 7, 2008 Share Posted October 7, 2008 I knew this would happen when i protested the WTO in Seattle of 99. So did the Medici of Florence and more recently in the US, so did John Adams, James A. Garfield, Abraham Lincoln, Franklin D. Roosevelt not to mention every economist and banker since the 1600's plus the majority of businessmen in Zurich. The difference is, they know why this has happened before, is happening now and will happen again. Though, I suppose you want some recognition, so here you go... Link to comment Share on other sites More sharing options...
Sketchrender Posted October 7, 2008 Share Posted October 7, 2008 Ireland Potentially there will be 3,000 architects out of work by christmas. Layoffs evryweek here at present. Most large companies are letting people go, Mine included. I will find out ina few weeks if i have a job or not. I do 3D obiously but was a technician for 6 years. But it is cuts across the boards, and pay cuts too. The construction industry has slowed way down. My brother is heading over to Canada for an interview soon, as he is a technician, very experienced in housing here, but i don't know how that will stand there as we are not as up on the green agenda as we should be here. He is 38, so if he goes he won't be coming back. Canada looks like a very nice country. The other options for people at present are, dubi or australia. A lot of staff, ie polish, german, and east europeans may head home and see if it is any better there. Phil Link to comment Share on other sites More sharing options...
Nic H Posted October 7, 2008 Share Posted October 7, 2008 arrgghhh so much media hype and people just getting panicky about this. its all fake imo, well not all fake but exagerrated greatly - maybe its more affecting the US. a recession might do the world some good (i.e I may be able to afford a house) Link to comment Share on other sites More sharing options...
Jeff Mottle Posted October 7, 2008 Share Posted October 7, 2008 arrgghhh so much media hype and people just getting panicky about this. its all fake imo, well not all fake but exagerrated greatly - maybe its more affecting the US. a recession might do the world some good (i.e I may be able to afford a house) Yeah, just a natural cycle. I bet if CNN stopped reporting about it for 6 weeks, the economy would partially recover. Part of it is a natural cycle of economics worstened by overzealous media. I've not seen much evidence of a downturn in Calgary yet, although house prices have stabilized and the cost of gas is coming down ever so slightly. I'm sure our recession is coming, but I don't think it will be that bad. Link to comment Share on other sites More sharing options...
Sketchrender Posted October 7, 2008 Share Posted October 7, 2008 Hype my a**, i will tell the bank that when the mortgage doesn't go through, cheers can i tell the manger you said it was all hype. Link to comment Share on other sites More sharing options...
Sawyer Posted October 7, 2008 Share Posted October 7, 2008 Yeah its kind of funny how in my area everyone I know has taken a hit because of house prices. So many people have gone from upper middle to honestly not knowing where the bottom is. I talk to people who... well its bad... and its really no fault of their own. They could afford their house when they bought it and now sales have dropped, their income is sales based, they need to sell and they can't. Anyway I also know many people who are really well right now and only hear about this stuff on TV and think the Recession is an exotic land visited by only greedy people who deserve getting what they are getting. Link to comment Share on other sites More sharing options...
Devin Johnston Posted October 7, 2008 Share Posted October 7, 2008 Hype my a**, i will tell the bank that when the mortgage doesn't go through, cheers can i tell the manger you said it was all hype. The only people who will be rejected for a mortgage are those who can't afford one, if you’re going to put 20% down, have good credit, and a steady income you've got no worries. I just closed on a house Monday and those people were happy to take my money. Link to comment Share on other sites More sharing options...
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