Rate increases.

[Imago]

I spent way longer than I wanted working out overhead increases and it ends up as needing to increase my rate by 14% to maintain me/the business. That's following an increase at the start of the year. I have (relatively) low business overheads, so I imagine for the higher end of small into medium size companies it's going to mean a sizeable increase.

Given the squeeze on customers and end users for similar stuff (fuel, power, consumables, insurances etc) add in the still flakey availability of materials, the huge increases in the cost of those materials and increasing interest rates it's hard to see how a dramatic slow down or recession can be avoided.

 

[John j]

Strap ye sen in people are stopping spending.
Took car for.mot . He.s normally busy as f**k. Said its a bit steady
My works slowed right down.
Went to.pick food up from steak place and he said he.s have to.just open 2 nights as no ones coming in

 

[Imago]

Strap ye sen in people are stopping spending.
Took car for.mot . He.s normally busy as f**k. Said its a bit steady
My works slowed right down.
Went to.pick food up from steak place and he said he.s have to.just open 2 nights as no ones coming in

Yeah, when it gets like this it's not one trade or industry hit because the increases affect everyone across the board.

I expect there will be an increase in those unable to keep up the payments on the bounce back loans etc that they had to keep going over the last year or two as well.

Still, I doubt it'll be any different to the last three or four recessions. A grim year or two with a few going under, and quite a few struggling, then things will pick up again.

 

[John j]

Yeah, when it gets like this it's not one trade or industry hit because the increases affect everyone across the board.

I expect there will be an increase in those unable to keep up the payments on the bounce back loans etc that they had to keep going over the last year or two as well.

Still, I doubt it'll be any different to the last three or four recessions. A grim year or two with a few going under, and quite a few struggling, then things will pick up again.

Electric bill in chippy gone from 250 to 500 a month .
Was 7 quid form fish and chips. So they are f**k*d as people.wont be paying that round here

 

[Imago]

Electric bill in chippy gone from 250 to 500 a month .
Was 7 quid form fish and chips. So they are f**k*d as people.wont be paying that round here

That's the sort of thing which makes the current situation different to previous fcuk ups, everything is affected. If you need cheap transport motorbikes, cars, vans, all shot up, there isn't really a cheap meal option now etc. etc.

I bought some exterior gloss this morning for the new doors at the unit. 5l tin mixed at the decorator's centre £108:00!

 

[Spudknit]

@hector

 

[Steve Brown]

Inflation was discussed on here about six months ago and people were saying it’s a good thing if you have a few properties etc.

I expressed my concerns as did Hector and a couple of others, worm is turning now I’d hate to have a sizeable mortgage, car on finance etc.

Have to agree with Hector on this one, don’t have finance, have a van on chuckie live within your means and any extra money you have left pay your mortgage off.

 

[hector]

good sensible suggestions steven,
intrest rates are now on the rise , only going one way now,

 

[Imago]

good sensible suggestions steven,
intrest rates are now on the rise , only going one way now,

It shouldn't come as a surprise as they were always going to go up. The same applies to the cost of goods and services which have been way too cheap for a long while. I think what's likely to bite people on the 4rse is the speed of the change as it's all coming in a hit.

 

[Spudknit]

All thrm lads on £150 a day in boom times......now s**t has hit the fan.silly boys

 

[Spudknit]

It shouldn't come as a surprise as they were always going to go up. The same applies to the cost of goods and services which have been way too cheap for a long while. I think what's likely to bite people on the 4rse is the speed of the change as it's all coming in a hit.

Always happens this.every 10 or so years..ride the baby 4 a good year the cycle starts again.always happens it has to or cleaners would be on £200 a day

 

[Imago]

Inflation was discussed on here about six months ago and people were saying it’s a good thing if you have a few properties etc.

I expressed my concerns as did Hector and a couple of others, worm is turning now I’d hate to have a sizeable mortgage, car on finance etc.

Have to agree with Hector on this one, don’t have finance, have a van on chuckie live within your means and any extra money you have left pay your mortgage off.

Finance/mortgages aren't necessarily a bad thing as long as (like most things, work, food, alcohol, drugs, s*x, adrenaline) you don't get greedy and push it too far, I think the term is 'over exposed'. (Financially not in an @Olican way.)

Look at what the best outcome is, look at what the worst outcome is, and aim for the middle.

 

[malc]

there is still 2 years left to an election .
if Johnson calls for a quick election then there could well be a recession. If not the tories will pump money into the economy to keep it strong in the hope that they win again.

 

[Steve Brown]

Finance/mortgages aren't necessarily a bad thing as long as (like most things, work, food, alcohol, drugs, s*x, adrenaline) you don't get greedy and push it too far, I think the term is 'over exposed'. (Financially not in an @Olican way.)

Look at what the best outcome is, look at what the worst outcome is, and aim for the middle.

See what your saying but I’m a plan for a worst case scenario kind of person and anything else is a bonus.
How some people go on I couldn’t sleep at night.
Release that I’ll never be a millionaire but so long as I have my health and plenty free time I’m happy.

 

[John j]

I said a few years back . Interest will go through roof and house prices will crash . And all them with money will get all the repo property's for pennies . Glad we don't have a big mortgage though it may be tough we should be able to slug it out . Remember first mortgage went up to 280 Last time rates went up
The dropped to about 170. I thought it was f**k**g xmas.
If you can get a nice 2 3 year deal at min I.d defo take it

 

[Imago]

See what your saying but I’m a plan for a worst case scenario kind of person and anything else is a bonus.
How some people go on I couldn’t sleep at night.
Release that I’ll never be a millionaire but so long as I have my health and plenty free time I’m happy.

Nothing wrong with that approach, it works for pensions after all. Basically that way of thinking trades possible gains for security against ruin.

As the years have gone by I've moved from chancing my arm a bit, to somewhere near the centre and gradually moved to being insulated as much as possible.

 

[Retired Spread]

there is still 2 years left to an election .
if Johnson calls for a quick election then there could well be a recession. If not the tories will pump money into the economy to keep it strong in the hope that they win again.

tories will win again no matter what.....labours a dead duck will be for many years.... boris could come out and say him n carrie have group s*x with Thai ladyboys and he'd still win next election

 

[A C]

Do I need to up my date rate then from 120 to 140?

 

[paulf]

tories will win again no matter what.....labours a dead duck will be for many years.... boris could come out and say him n carrie have group s*x with Thai ladyboys and he'd still win next election

Which is s**t, labour have nobody to blame but themselves because they've become shackled to every grievance group out there BLM trans rights etc.
The reality is people in general don't care about that when they go to vote.

 

[Spudknit]

I feel sorry 4 casper..man gets his bread on tick

 

[hector]

there is still 2 years left to an election .
if Johnson calls for a quick election then there could well be a recession. If not the tories will pump money into the economy to keep it strong in the hope that they win again.

that may have been the case in the past malc, but this is a different time,
covid/out of europe now/ukraine/intrest rates starting to go up,/gas ,fuel,electric all going up ,
so much uncertainty in the world,
meanwhile back to this country, and every single item to build a house is seeing significant price increases,
some very hard times on the way, this next 2/5 years will be extremely difficult for people, as all these increases take effect

 

[paulf]

that may have been the case in the past malc, but this is a different time,
covid/out of europe now/ukraine/intrest rates starting to go up,/gas ,fuel,electric all going up ,
so much uncertainty in the world,
meanwhile back to this country, and every single item to build a house is seeing significant price increases,
some very hard times on the way, this next 2/5 years will be extremely difficult for people, as all these increases take effect

I don't see the Conservative party becoming socialist in the near future. They had a taste of it during lockdown, they'll tinker round the edges and let the market forces play out and hope come election time we are back on the up.
Mind you the current Ukrainian situation could potentially become much worse.

 

[owls1]

that may have been the case in the past malc, but this is a different time,
covid/out of europe now/ukraine/intrest rates starting to go up,/gas ,fuel,electric all going up ,
so much uncertainty in the world,
meanwhile back to this country, and every single item to build a house is seeing significant price increases,
some very hard times on the way, this next 2/5 years will be extremely difficult for people, as all these increases take effect

Hector you say this every year, and every year your proved wrong.

 

[Danny]

Hector you say this every year, and every year your proved wrong.

have you got a problem logging in to your old account?

 

[Smudger1]

 

[Spudknit]

Hector you say this every year, and every year your proved wrong.

Like a broken record

 

[owls1]

have you got a problem logging in to your old account?

Yes.

 

[owls1]

Like a broken record

I suppose a broken clock is right twice a day though.

 

[owls1]

I said a few years back . Interest will go through roof and house prices will crash . And all them with money will get all the repo property's for pennies . Glad we don't have a big mortgage though it may be tough we should be able to slug it out . Remember first mortgage went up to 280 Last time rates went up
The dropped to about 170. I thought it was f**k**g xmas.
If you can get a nice 2 3 year deal at min I.d defo take it

I don’t agree, it’s supply and demand. There isn’t enough housing stock for the population simple as that. We’re a small island that’s overpopulated, people living longer, more divorces etc. If it’s case of affordability that will lead people to rent ie first time buyers then that’s what it will be, people will always need somewhere to live.
property will always go up over time there’s peaks and troughs along the way, but still one of your best leverages against inflation is bricks and mortar.

 

[Danny]

Yes.

send me an email [email protected] and I will get you back in

 

[owls1]

Yeah, when it gets like this it's not one trade or industry hit because the increases affect everyone across the board.

I expect there will be an increase in those unable to keep up the payments on the bounce back loans etc that they had to keep going over the last year or two as well.

Still, I doubt it'll be any different to the last three or four recessions. A grim year or two with a few going under, and quite a few struggling, then things will pick up again.

The difference in previous recessions is that this time around there’s record employment.
I can vouch for it first hand.I’m after more staff on my books, I can’t find them either labourers or renderers. interest rates will creep up, that’s a given but I’d be amazed if it gets above 2% this time next year.
im looking at new build sites for next year at present, there’s still people with good money around, most jobs secure , more people working from home, extending what they’ve got etc.

 

[John j]

I don’t agree, it’s supply and demand. There isn’t enough housing stock for the population simple as that. We’re a small island that’s overpopulated, people living longer, more divorces etc. If it’s case of affordability that will lead people to rent ie first time buyers then that’s what it will be, people will always need somewhere to live.
property will always go up over time there’s peaks and troughs along the way, but still one of your best leverages against inflation is bricks and mortar.

You don't have to agree for me to be right

 

[owls1]

You don't have to agree for me to be right

All opinions isn’t it.

 

[Cockney]

Do I need to up my date rate then from 120 to 140?

250 / 300

 

[A C]

250 / 300

Rubbish