Hello everybody! With the global financial crisis facing us at the moment, how is it affecting the Hi-Fi and Home Cinema industry? Just want to ask all you hi-fi and home cinema enthusiasts if you are being affected by the economic crisis that this country is experiencing? With this kind of scenario in our economy would you still go for a mid-range or high-end systems or just settle with budget ones? Are you still thinking of any system upgrade? Please share your thoughts. Cheers!
Hi-Fi & Home Cinema Credit Crunch
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Very much so.
Casually mentioned to my wife that I wanted to buy a new Onkyo receiver. If looks could kill!!
Then again, Id probably have got that look credit crunch or not!
Casually mentioned to my wife that I wanted to buy a new Onkyo receiver. If looks could kill!!
Then again, Id probably have got that look credit crunch or not!
I'm still looking at up grading my system.
It's very much in the process of evolution and credit crunch or not i've started something I'm unable to stave off.
It's very much in the process of evolution and credit crunch or not i've started something I'm unable to stave off.
I think with the latest actions form central banks, economy will be better in the near future, but I do not mean shiny days. I am planning to upgrade my system, but I am working in financial sector. Yet my firm does not have any problem but who knows, just for being cautious, I postpone my upgrade.
It seems that when people are cautious, they spend more time at home and - of course - start thinking about home upgrades, either home cinema or hi-fi systems.
We're always eager to bring you the bargains as well as the er, blowouts - as we call them. And the new issue is no exception....
We're always eager to bring you the bargains as well as the er, blowouts - as we call them. And the new issue is no exception....
John Duncan
Well-known member
I think now is exactly the right time to get that new plasma telly, because let's face it, once you lose your job you're not going to be able to afford it then, are you?
Gerrardasnails
Well-known member
liujol:Hello everybody! With the global financial crisis facing us at the moment, how is it affecting the Hi-Fi and Home Cinema industry? Just want to ask all you hi-fi and home cinema enthusiasts if you are being affected by the economic crisis that this country is experiencing? With this kind of scenario in our economy would you still go for a mid-range or high-end systems or just settle with budget ones? Are you still thinking of any system upgrade? Please share your thoughts. Cheers!
I'm actually better off than last year! Ok, the rise and bonus weren't the usual and the next one will be pretty poor but I have a base rate tracker mortgage (huge one!) and that .5% drop means a big saving for me. Food prices have started to get better (if only gas and electric would follow). I think as long as you don't have your own business or work directly in the banking industry, it's not as bad as people think.
I'm actually better off than last year! Ok, the rise and bonus weren't the usual and the next one will be pretty poor but I have a base rate tracker mortgage (huge one!) and that .5% drop means a big saving for me. Food prices have started to get better (if only gas and electric would follow). I think as long as you don't have your own business or work directly in the banking industry, it's not as bad as people think.
John Duncan
Well-known member
Gerrardasnails
Well-known member
John Duncan
Well-known member
Not me! the trick is not (as so many people have done) to overstretch yourself mortgage-wise. Although I am as I appreciate very fortunate. Then you can afford many new shiny things!! I am getting increasingly clever at buying at discount, 2nd hand etc. and off to the Practical show in Manchester at the weekend for more potential bargains!
Crisis? What Crisis?
Crisis? What Crisis?
Charlie Jefferson
Well-known member
We're all socialists now!
Time to dust off my Marxism Today tea mug and unearth a few agit-prop badges from student times.
Who is to blame? Surely not those lax regulators and those avaricious bankers. Vivisection for fat cats!
Time to dust off my Marxism Today tea mug and unearth a few agit-prop badges from student times.
Who is to blame? Surely not those lax regulators and those avaricious bankers. Vivisection for fat cats!
John Duncan
Well-known member
It can be traced back to two things - the demutualisation of building societies, and the private sale of council housing. Now who did that?
Dave_
Well-known member
Charlie Jefferson
Well-known member
John Duncan
Well-known member
A direct result of home-ownership being plugged as a means of making money in the early eighties, as opposed to being somewhere to live. At the time, the home-owning population were a minority in the rest of Europe - more than 50% of Germany and France rented, for example - whereas here it was seen (sorry, touted) as the foundation of democracy (or more correctly, the antithesis of Socialism and, therefore, A Good Thing).
Charlie Jefferson
Well-known member
. . .yes, that embodies everything the Monetarists and anti-communitarians stood for. Demutualisation of the building societies was a motif and a metaphor for those sorry times. The last few weeks are those chickens well and truly roosted.
Wonder what kind of a system the RBS ....very happy to say it...Exc CEO 'Fred the Shred' has ...just hope the government now insist he and the others are made to pay back their big, unearned, bonuses of last year
House prices are already on a sharp decline and will continue to fall drastically over the next two years.Thanks to all those bankers ( and I use the phrase lightly) who have irresponsibily loaned money to people who were in effect bad credit risks to begin with, which then created a massive demand in housing and mortagage debt with prices also having recently reached stupid levels, you will now see bricks and mortar reflecting their true worth over the next couple of years and interest rates for all future loans being that little bit higher than the Bank of England's minimum lending rate, in order to compensate for potential lost future revenue that may well have continued to be generated by those who will now be refused future mortgage and personal loans in the future because they may now constitute a bad credit risk
Those who bought a house in the last say 3/4 years are most vulnerable especially if people now also start loosing their jobs though many I dare say will still be clinging on their Hi Fi and Home Cinema Systems for dear life even when and if the baliffs come knocking on the door
House prices are already on a sharp decline and will continue to fall drastically over the next two years.Thanks to all those bankers ( and I use the phrase lightly) who have irresponsibily loaned money to people who were in effect bad credit risks to begin with, which then created a massive demand in housing and mortagage debt with prices also having recently reached stupid levels, you will now see bricks and mortar reflecting their true worth over the next couple of years and interest rates for all future loans being that little bit higher than the Bank of England's minimum lending rate, in order to compensate for potential lost future revenue that may well have continued to be generated by those who will now be refused future mortgage and personal loans in the future because they may now constitute a bad credit risk
Those who bought a house in the last say 3/4 years are most vulnerable especially if people now also start loosing their jobs though many I dare say will still be clinging on their Hi Fi and Home Cinema Systems for dear life even when and if the baliffs come knocking on the door
Gerrardasnails
Well-known member
Tallyho:
Wonder what kind of a system the RBS ....very happy to say it...Exc CEO 'Fred the Shred' has ...just hope the government now insist he and the others are made to pay back their big, unearned, bonuses of last year
House prices are already on a sharp decline and will continue to fall drastically over the next two years.Thanks to all those bankers ( and I use the phrase lightly) who have irresponsibily loaned money to people who were in effect bad credit risks to begin with, which then created a massive demand in housing and mortagage debt with prices also having recently reached stupid levels, you will now see bricks and mortar reflecting their true worth over the next couple of years and interest rates for all future loans being that little bit higher than the Bank of England's minimum lending rate, in order to compensate for potential lost future revenue that may well have continued to be generated by those who will now be refused future mortgage and personal loans in the future because of their inability to pay back
Those who bought a house in the last say 3/4 years are most vulnerable especially if people now also start loosing their jobs though many I dare say will still be clinging on their Hi Fi and Home Cinema Systems for dear life even when and if the baliffs come knocking on the door
The last thing the banking industry wants now is for it to make remortgaging an impossibility and repossessions the norm. That will make things so much worse. They have to be more careful to who they lend and how much they allow to be borrowed. However, those who own a house now and pay the payments on time but who have a two year period ending soon, must be allowed to remortgage to a better deal than the banks variable rate - which might make them fall behind. The interest rate in Japan is 0.5%!! In the US it's now 1.5% and across Europe around 3%. The variable rate from most banks here is over 7%!!
Wonder what kind of a system the RBS ....very happy to say it...Exc CEO 'Fred the Shred' has ...just hope the government now insist he and the others are made to pay back their big, unearned, bonuses of last year
House prices are already on a sharp decline and will continue to fall drastically over the next two years.Thanks to all those bankers ( and I use the phrase lightly) who have irresponsibily loaned money to people who were in effect bad credit risks to begin with, which then created a massive demand in housing and mortagage debt with prices also having recently reached stupid levels, you will now see bricks and mortar reflecting their true worth over the next couple of years and interest rates for all future loans being that little bit higher than the Bank of England's minimum lending rate, in order to compensate for potential lost future revenue that may well have continued to be generated by those who will now be refused future mortgage and personal loans in the future because of their inability to pay back
Those who bought a house in the last say 3/4 years are most vulnerable especially if people now also start loosing their jobs though many I dare say will still be clinging on their Hi Fi and Home Cinema Systems for dear life even when and if the baliffs come knocking on the door
The last thing the banking industry wants now is for it to make remortgaging an impossibility and repossessions the norm. That will make things so much worse. They have to be more careful to who they lend and how much they allow to be borrowed. However, those who own a house now and pay the payments on time but who have a two year period ending soon, must be allowed to remortgage to a better deal than the banks variable rate - which might make them fall behind. The interest rate in Japan is 0.5%!! In the US it's now 1.5% and across Europe around 3%. The variable rate from most banks here is over 7%!!
At the end of the the national debt now stands at £600,000,000,000 and it will need to be reduced significantly over the medium to long term...that can only ben done through increased taxation which will come and higher competitive interest rates for loans and mortgages being offered by the banks and building societies..I don't like it any more than you do..nevertheless my feeling is this is what will happen
Shareholders too in the newly nationalised and part nationalised banks will also now play second fiddle to the governments interests in these banks
Shareholders too in the newly nationalised and part nationalised banks will also now play second fiddle to the governments interests in these banks
Gerrardasnails
Well-known member
Tallyho:
At the end of the the national debt now stands at £600,000,000,000 and it will need to be reduced significantly over the medium to long term...that can only ben done through increased taxation which will come and higher competitive interest rates for loans and mortgages being offered by the banks and building societies..I don't like it any more than you do..nevertheless my feeling is this is what will happen
Shareholders too in the newly nationalised and part nationalised banks will also now play second fiddle to the governments interests in these banks
As the government now have half of most of the big banks in the UK, it will make money from them. This will not happen by raising interest rates as no one will take loans! They will want to stoke up the borrowing of mortgages and loans. This has to be done sensibly and not gung ho, lend to anyone (sound familiar??). The only way forward is to bring inflation down - oil prices are going down, therefore petrol will (already has check out Asda) and then food prices will drop too and then interest rates will steadily drop over the next year. Banks will begin to lend again and make money and people will start buying property again and prices will steady. This is not going to happen straight away but it HAS to happen for the economy not to fall flat again.
My only worry is that things will perk up a little before the next election and there will be a lot of people who think that Brown is a genius - his decision to part nationalise the banks was forced on him and it was not some great brainwave. He didn't do anything about what has been happening over the last 10 years ago whilst he was living nextdoor to Blair, nor since he moved to Number 10.
At the end of the the national debt now stands at £600,000,000,000 and it will need to be reduced significantly over the medium to long term...that can only ben done through increased taxation which will come and higher competitive interest rates for loans and mortgages being offered by the banks and building societies..I don't like it any more than you do..nevertheless my feeling is this is what will happen
Shareholders too in the newly nationalised and part nationalised banks will also now play second fiddle to the governments interests in these banks
As the government now have half of most of the big banks in the UK, it will make money from them. This will not happen by raising interest rates as no one will take loans! They will want to stoke up the borrowing of mortgages and loans. This has to be done sensibly and not gung ho, lend to anyone (sound familiar??). The only way forward is to bring inflation down - oil prices are going down, therefore petrol will (already has check out Asda) and then food prices will drop too and then interest rates will steadily drop over the next year. Banks will begin to lend again and make money and people will start buying property again and prices will steady. This is not going to happen straight away but it HAS to happen for the economy not to fall flat again.
My only worry is that things will perk up a little before the next election and there will be a lot of people who think that Brown is a genius - his decision to part nationalise the banks was forced on him and it was not some great brainwave. He didn't do anything about what has been happening over the last 10 years ago whilst he was living nextdoor to Blair, nor since he moved to Number 10.
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