How's your solvency? Is the reccession over for you yet?
By sharone74
@sharone74 (4837)
United States
June 30, 2011 10:48am CST
I hear a lot of politicians and political pundits saying that we are beginning to rebound from the recession and that things are starting to improve. From where I sit, I fail to see any significant difference in the job market or in my personal finances. If you have weathered the financial storm and have found a port of safe financial haven, you are to be commended. Everyone is having to do some creative accounting and some artful juggling to survive this financial meltdown, some people I do see coming back, but after the last 2 years I know one person who remained financially solvent through the crisis. Both he and his wife retained their jobs, and neither had to take a cut in pay, so they are doing okay but they still had to cash out on their rental properties and allow a couple of them to even go to foreclosure, taking a major hit in the credit score. Everyone else is pretty much living hand to mouth with no end in sight.
1 person likes this
3 responses
@KrazyKlingon (5005)
• United States
1 Jul 11
The recession seems to still be as bad as ever in my area. Everywhere I turn in my neighborhood, there's a "For Sale" sign posted on someone's property. Not really prying into people's businesses, I can only assume that either they can no longer afford their homes & are trying to sell before they get foreclosed, or they were foreclosed on. I doubt that it has anything to do with the decent neighborhood though.
Quite a few people I know have graduated with college degrees, but were unable to find work without relocating, & quite often, not even in what they majored in.
@KrazyKlingon (5005)
• United States
3 Jul 11
Another problem, especially with having a master's degree. Because of many companies' policies that mean a paid differential or higher wages for it, most would hire the guy who does not have that master's degree so they don't have to pay as much.
@SilverVixen (284)
• United States
30 Jun 11
Well my husband and I are one of the many who got royally screwed by the recession. He lost his job and our rental house because we couldnt afford it. We burned through our savings like a wildfire. Over 3 grand to live on for six months. We had to give back our truck that we only owed 4k on. Now were in a crappy house with an even crappier vehicle. My husband found a job but they refuse to give him a raise, even though he is doing the job of someone who makes at least $3 more per hour. Instead he got his hours cut so they can train more people. And now we can't even afford our rent this month, well last month cuz its already July. So no, things are just as bad if not worse than it was a couple years ago.
