Is the economy affecting your job's future?

[ajk4st8]

Physical Therapy = Job Security.

Ice storms have been great for business lately. :smile:

 

[ericlambi]

I work in investment management. So yes. Not only is my job security much lower, but my expectations for my future career earnings are probably half or less what they were this time last year.

 

[dosry5]

Physical Therapy = Job Security.

Ice storms have been great for business lately. :smile:

Do you use the snuggie in your job?

 

[cychhosis]

I work in investment management. So yes. Not only is my job security much lower, but my expectations for my future career earnings are probably half or less what they were this time last year.

So, what happens to the market when all the boomers start cashing in? I'm at the tail end of the boomers and my new worry is that 10 years down the road the market will collapse before I get my slice of pie.:skeptical:

 

[Balrog]

This is a nice idea but...

1) You assume that if people have more money each month they will buy 'stuff' with it. Economic reports are showing that if folks have extra cash, they are saving it or paying down credit card debts. These are good things, but not economically stimulative.

2) You assume that folks can afford their house with a smaller payment. I think you'll find a lot of the subprime crap on the coasts can never be afforded over the long term. If you make $50K and bought a $400K house, an interest free loan is too much for you (over time)

3) A lot of these home loans are so bad that 50% of mortgage modifications are failing within 6 months. I think that is the number that I saw last week but I cant find the article.

4) Are they going to find away to get the 'refinance' done quickly ? If everyone rushes to Refi, the mortgage companies, which have laid off thousands and thousands of workers, are going to be overwelmed. Overwelmed mortgage employees practiced a 'We say YES to everything' culture at WaMu. A company that personifies the Subprime mortgage debacle.

5) I would venture that almost anyone who bought a house in the past couple years has little to no equity left so they can't do a cash out during the refi so they get even more spending money.


On the original topic, I work in IT support of retirement plans. Our bread and butter the past few years is getting gigantic retirement plans to switch over to us. Given the market, very few are interested in changing to a new provider.

Recently, (within the last year), there has been an increase in the number of our remodelling projects. For the most part, these are people that are in the upper middle income bracket, and the upper income bracket. Our average customer owns a $500,000.00 home to a couple of million. These customers have been our main focus for over 25 years, and there aren't that many left, that we haven't serviced previously. We have instituted a maintenance program, designed to get into the home and offer cleaning, resealing, and recaulking services to protect the initial stone investment.