The Worst Profession to Presently Be In ?.

[Uncle Spielberg]

Its tough for many but I am wondering who and what profession people think is the worst to have a career / job in at the moment.

I would like to nominate , Mortgage Broking and attach a report in the case of the defence.

What other professions are being dessimated, housing , estate agents, surveyors, coneyancers certainly, contruction, retail ?.

This Credit Crunch is actually good for many people. When I meet my friends last week end they are all employed, earning as much or slightly more than last year with all the additional employed benefits, they have lower mortgage payments, massively for some as I put them on tracker rates, have far more spending power as they can get much more for their money. They must be hoping the credit crunch will last forever.

Who else is struggling, what is your trade, profession and how long do you think this will go on for ?

BBC NEWS | Business | Mortgage lending at 34-year low

 

[Hiney]

Another vote here for Mortgage Broking.

 

[Uncle Spielberg]

Another vote here for Mortgage Broking.

The number of mortgages lent to house buyers fell last year to its lowest level since 1974, the Council of Mortgage Lenders (CML) has said.

There were just 516,000 mortgages granted to house buyers, down 49% from the level seen in 2007.

The squeeze on mortgage funds has seen widespread rationing by lenders, which meant that first-time buyers had to put down an average deposit of 22%.

****The CML believes that lending is likely to fall even further this year.****

"The shortage of mortgage funding and reduction in the number of active lenders has reshaped the mortgage landscape in the space of a year," said Michael Coogan, the CML's director general.

"This low level of transactions is insufficient for the functioning of an efficient market," he added.

**** Don't worry Hiney its going to get even worse !. Why don't they lenders all just feck off and close down and start selling second hand cars or something instead. They obviously do not want to carry on the description of their business anymore.

 

[Seagull over NZ]

I'm sorry, and this may sound harsh, but I don't feel sorry for people in mortgage broking business. The industry as a whole kept on gambling on hous eprices going up and got greedy, forever loaning out more money than people could afford.

In some ways I also don't feel sorry for the world I am in. The company I work for is in project management. We project manage construction jobs. Not a great business to be in at the moment especially when your clients rely on banks to fund the projects. But we have had it good for many years, keep on building things as property prices rose. But now we have it tough. No redundancies at my company yet but our parent company has just laid off 15% of the workforce.

Sorry if that sounds a bit harsh.

 

[Uncle Spielberg]

I think you are getting confused, the number of mortgages arranged did not actually increase that much during the mid 00's so house prices going up is inrrelevant. Its the number of mortgage transactions which would normally be over 1 000 000 a year over the last 30 years falling to half that. It means the market cannot function anymore.

 

[Badger]

Cleaning out portaloos.

Not because they are in danger of getting made redundant, simply because it's a shit job.

 

[coventrygull]

Retail could take a few hits when the recession depends

 

[Hatterlovesbrighton]

I'm afraid that I don't agree with the mortgage profession being the worst profession to be in. In the last 10 years it's been one of the most profitable professions to be in. Any prudent and sensible IFA would have realised that their levels of profit would inevitable drop in times of a recession or housing downturn and act accordingly i.e. savings

I'd say the humble shop worker, or people working in small businesses. These people haven't really benefited greatly from the upturn as they are salaried rather than self-employed but are now at a big risk of losing their jobs.

 

[Gazwag]

Oh pleeeesssee, all these financial sector employees feeling sorry for themselves because they didnt make provision for a slow down in the market. Nurses who have to put up with daily abuse, ambulance crews ditto, police who have to patrol at night in cities have had it hard for a long time - time to look at the real world again

 

[Titanic]

I've always wondered who on God's earth becomes a Proctologist??

 

[Uncle Spielberg]

Oh pleeeesssee, all these financial sector employees feeling sorry for themselves because they didnt make provision for a slow down in the market. Nurses who have to put up with daily abuse, ambulance crews ditto, police who have to patrol at night in cities have had it hard for a long time - time to look at the real world again

Yes but they are still paid a salary with all the employed benefits. I think you are mis reading the thread title.

 

[Uncle Spielberg]

I'm afraid that I don't agree with the mortgage profession being the worst profession to be in. In the last 10 years it's been one of the most profitable professions to be in. Any prudent and sensible IFA would have realised that their levels of profit would inevitable drop in times of a recession or housing downturn and act accordingly i.e. savings

I'd say the humble shop worker, or people working in small businesses. These people haven't really benefited greatly from the upturn as they are salaried rather than self-employed but are now at a big risk of losing their jobs.

The worst profession to be in NOW not withimn the last 10 years. I am interested in people who are finding business tough in whatever profession and their popinions on how they will get through it and when it will improve.

 

[coventrygull]

Oh pleeeesssee, all these financial sector employees feeling sorry for themselves because they didnt make provision for a slow down in the market. Nurses who have to put up with daily abuse, ambulance crews ditto, police who have to patrol at night in cities have had it hard for a long time - time to look at the real world again

I don't think the financial sector employees can be blamed. My wife works in the finance sector and was under pressure to sell products to hit targets. She knew the crash was coming but she hardly has any say.

 

[TWOCHOICEStom]

Another vote here for Mortgage Broking.

Your avatar looks like you casting your vote for Mortgage Broking

I'd go with either that or Estate Agents judging by how many have closed recently.

 

[coventrygull]

Yes but they are still paid a salary with all the employed benefits. I think you are mis reading the thread title.

Its a nice feeling to be in a position where your job is safe. I am concerned though that the NHS might suffer severe cuts if the recession is as bad as being predicted by some

 

[TWOCHOICEStom]

Oh pleeeesssee, all these financial sector employees feeling sorry for themselves because they didnt make provision for a slow down in the market.

That's the most ridiculous post I've read so far today.. and I doubt it'll be topped.

 

[Hatterlovesbrighton]

The worst profession to be in NOW not withimn the last 10 years. I am interested in people who are finding business tough in whatever profession and their popinions on how they will get through it and when it will improve.

Well if its on that basis then the worst profession to be in is a top level banker. Very little chance of getting the megabonuses this year.

 

[Hatterlovesbrighton]

That's the most ridiculous post I've read so far today.. and I doubt it'll be topped.

Please explain how it is ridiculous.

 

[Uncle Spielberg]

Oh pleeeesssee, all these financial sector employees feeling sorry for themselves because they didnt make provision for a slow down in the market. Nurses who have to put up with daily abuse, ambulance crews ditto, police who have to patrol at night in cities have had it hard for a long time - time to look at the real world again

Also I am not an employee I am self employed so get no salary, no holiday pay, no sick pay, no meal voucchers, no pension, no company car

 

[Uncle Spielberg]

Also the FS employees you refer to if bank staff probably earned £ 15-£ 20k a year , so what " provisions " for the bad times did you expect them to make ?.