Whats so bad about a recession if you dont lose your job?
If you dont lose your job isnt a recession actually better? Prices keep coming down and your dollar goes much further. I have little chance of losing my job and honestly I hope this recession can last for years. Ive been able to buy everything at huge discounts this year.
Sell House Quick
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…If you look at it with a less Darwinist point of view, probably the fact that people without stable jobs are now struggling to feed and support their families? But that’s just my opinion…
Because others are losing their jobs they can no longer pay income tax, and thus tax revenues fall. So the government responds to this either by cutting services or increasing taxes, both of which effect you even if you dont lose your job.
Also the credit freeze makes it harder to get a mortgage or any kind of loan for that matter as banks are more reluctant to lend even to people with jobs.
Well, you are right up to a point. For the people with stable jobs, the recession acts as a price correction, bringing the prices of goods and services down from the unsustainable inflationary heights of the bubble.
However, the problem begins when the recession becomes widespread, worldwide, or worse yet, it turns into a depression. Obviously, if all of your neighbors were to lose their jobs and have their homes foreclosed, the value of your home would fall and you would have to live in a pretty blighted neighborhood. Business would eventually close down for lack of customers and you would have to drive miles and miles to find a mega-mart that was big enough to survive the depression. Not to mention the negative impact in tax revenues, which would prevent the government from delivering basic public services. Other than that, if the recession is mild or short-lived, you will be one of the few who will benefit from it, so consider yourself lucky.