Author Topic: Credit Crunch!  (Read 2402 times)

Alastair

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Credit Crunch!
« on: October 18, 2008, 11:57:21 AM »
Just thought I'd open up a line of discussion on how the credit crunch will affect out interest.
Looking at eBay recently I have noticed a drop in the number of micros for sale, and a lot of those listed are not reaching either their reserve or the level of prices they were getting a year or so ago.
I know there are those that will shout from their soap box that it will rid micro world of speculators and a fall in price will be good for genuine enthusiasts, but is that right? If cash is tight, even enthusiasts can't buy cars. If everyone has less cash to spend could it impact on Microcar club memberships, viability of club spares schemes and will people spend on cars knowing that the final value will be less than the market value - in a recession do you look for additional ways to empty your bank balance?
I know I lost my job a couple of months back and am finding it hard to find anything now. I am now time rich - and am getting time to get on with jobs that have piled up while I was working - but cash poor.
How do you think our micro world change - better, worse or no change?

Jawmedead

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Re: Credit Crunch!
« Reply #1 on: October 18, 2008, 01:16:56 PM »
Myself, being a pleb haven't really noticed any crunch.  :-[

Inaheinkel

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Re: Credit Crunch!
« Reply #2 on: October 18, 2008, 02:05:44 PM »
Hi

Now youv'e realy got me going !!!!!!!!!!!!!

Yes thing are a bit tight, all trades are being a bit more carefull with their money. but for god's sake lets all stop going on about it and get on with life.

If I was in charge of the T.V. news or owned a newspaper I would allocate 50% of all space to good news and 50% to bad (unless there was a something major like the queen dying or war broke out).

That way everyone would be a lot happier.

Unless there is some major crisis in the household everyone will still want to play with their toys, it's just that when things are tight the prices stabalise and some of the overpriced items don't sell.

Keep on driving your cars.

John ;D
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Bob Purton

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Re: Credit Crunch!
« Reply #3 on: October 18, 2008, 09:00:04 PM »
Being a pleb like the other Bob I haven't noticed a great deal of difference, the prices realised at the auction today were all pretty much as expected , some a little high and others a little low but apparently unaffected by the CC [I agree with John and am hoping that if we don't say the words, it will go away!]. To be honest though, as far as work is concerned though, I haven't sold a sausage for a fortnight! Not that I deal in sausages you understand!

Jim Janecek

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Re: Credit Crunch!
« Reply #4 on: October 18, 2008, 09:16:03 PM »
I don't think any "regular people" are going to notice the "Credit Crunch" until later on this year or early next year as the primary "Crunch" is happening behind the scenes to businesses that used to rely on short term loans but now they have to pay MUCH more for those short term loans.

You will notice it when shops start closing, prices of goods start rising and your friends start complaining that they have been laid off their jobs.
the ones who are noticing it NOW are the ones that are already retired or soon to retire and just discovered they have lost 30% of their retirement account.
So they either have to get by spending less or continue working longer to get to the point they thought they were at.

I made up a story about this using a fictional Microcar Community as a metaphor and posted it here:
http://www.microcar.org/blog
it's not perfect but it was good excercise.

Inaheinkel

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Re: Credit Crunch!
« Reply #5 on: October 25, 2008, 01:02:34 AM »
Hi

Great analogy.

John

 ;D
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