Laid off/foreclosure (Cape Coral, Sarasota: credit, loans, real estate)

[Racelady88]

I posted this in the General Forum and did not get much response either way. Since I am here I would also like some local perspective.

A couple of days ago I got a call from a former supervisor who is my number one job reference. She wanted to let me know that the company she works at is going to close its doors at the end of the month. The VP of another company that I worked at is going into foreclosure, and his house will be sold in March on the courthouse steps.

I know more people who have lost their jobs in the last 12 months than I know people who have not lost them. They are not getting fired, their jobs are going away.

I now know more than a dozen people who are in some stage of the foreclosure process, only 1 got more house than her salary could support. The rest have used up their savings, pawned everything, and are out of options.

Am I the only one watching this happen to friends?

[Wendyb0077]

It's pretty bad out there. I know of at least 10 people that are in some stage of losing their home. The trickle down effect from the bad real estate market has really done a number on the economy. Everyone that I know that normally didn't have money issues are now having them. Many, many people are living on what equity they have left, or just using credit cards to live on to pay bills hoping somthing will happen before it all runs out. (very scarey) With most of us having no Health Insurance one trip to the Hospital pretty much wipes you out. So don't dare get sick or hurt without insurance. Everyone is trying to cut corners, coupon shopping, Lowering the cable bill, switching phone companies to pick up dealsl. No more eating out, stressing every day about bills and what will happen next if things don't change. The depression pill industry is booming... Ever since Oct. of 05 things just started going down hill fast. Gas is so high that people making a living driving are taking a major hit to their bottom line. It goes on and on. So, no you are not alone, lots of us think about this every day. What is the answer???? Only time will tell...

[KoryO]

Ok, well...what industries are we talking about here? Because most of the people I know are in engineering or health care, and everything's ok right now. One of my good friends is a contractor, and business could be better but they are doing ok for now.

[Racelady88]

Originally Posted by KoryO

Ok, well...what industries are we talking about here? Because most of the people I know are in engineering or health care, and everything's ok right now. One of my good friends is a contractor, and business could be better but they are doing ok for now.

Some are in manufacturing and were laid off from a major employer in SRQ County. Others have been in business that supported construction such as electricians, plumbers, roofers, flooring, swimming pools, real estate, etc. One worked in a florist shop. A couple were servers.

[MrTudo]

We're off to what could be the best year ever.

[quentin2767]

I live on the east coast (central). If you are not a nurse or an engineer, good luck finding work that pays a decent wage. After 15 years in retail mgt, I left to take a job as a lab tech. That company laid off 11 people 8 months ago. I have not been able to find anything that pays over 8/hour. I will most likely lose my home.
the economy is bad, retail is not hiring mgt, only part time workers. the problem is you need to be available whenever-which leaves the possibility of a 2nd job-which I would need-out of the question

[Carbondated]

In my family alone 2 people have lost their jobs (one a County employee of 15 years, and another in the private sector) and my husband who is on work slow down (only getting 20 hours per week instead of full time 40 hours).
Among friends that have been laid off recently include a father of 4 young kids, who had 20 years with his company.
I'd say 75% of the people I know, had absolutely nothing to do with the building, real estate industry.
We are leaving Sarasota County as soon as possible. Nothing here for us, if educated, skilled people can not obtain and retain employment. I will miss my family, the weather, and the nature, but I am ready to leave Sarasota.

[ready2move]

My best friend's husband has his own commerical roofing business. He had some great years back in the day of the hurricanes. So good, that he became a millionaire almost overnight. Paid off the house in Broward, bought a 2nd house in Cape Coral on the water, bought a boat, a lexus for his wife, diamonds, etc. Now they are struggling, I don't think they will lose their properties, but the disposable income is not what it was.

[DanBev]

People are caught up with greed and needmore,never satisfied with what they have.Most have never lived within there means nor saved for a rainy day.Do not have sympathy for most.

[cflfan]

I hear and agree with the sentiments of most posts here. The sad thing is in the boom years, lenders were issuing loans without any care, and sadley like the last poster said alot of people do live beyond their means. however, not everyone who is in foreclosure comes into this category. It is truely tragic. I have many friends in exactly the same situation, some live beyond their means, some not. If you take a look at Realtors now, most of the quality agents are leaving the industry because they cant afford to stay. alot of the new agents coming in have never dealt in real estate before, think its a quick way to make a buck and dont care about customer satisfaction. Jobs are being lost everywhere. Its so sad