Construction Recessions

[glorybound]

Are you guys, on the other side of the pond, feeling this?

Brexit crisis: housing architect O'Mahony Pike has revealed it is shutting its London office while Grimshaw is letting go of staff, as projects dry up thanks to the uncertainty caused by Brexit.

http://www.dezeen.com/2016/08/08/arc...eu-referendum/

[Pictor2]

Yep, definitely slowed down for us in the last few weeks, construction industry is the first thing that gets a battering when uncertainty hits. I know we're not supposed to talk politics on this forum but personally I'm still massively angry about it all, the impending recession being one of many reasons

[glorybound]

All I know is what I hear on American TV. It'll probably affect us soon. The ripple effect always follows.

[SteveC]

To be honest I don't think it ever really fully recovered from the 2008 banking crisis/recession. I generally get a steady
flow of work, mixed with the occasional manic blip where a crap load of jobs come in.

I can't say personally that Brexit has had any effect on my work load, it's been pretty much like this since the
recession, however I am bracing myself for some sort of fall out from Brexit. I don't believe it will be a long lived
or deep recession (if recession actually happens), we haven't gone into negative growth, yet. The bank of England
has just lowered interest rates to 0.25% and initiated a round of quantitative easing, but very prematurely I think.

I'm very optimistic about the UK's future, it's a great country, we need to make the best of what's happened and
just get on with it, the future is bright.

[glorybound]

Good to know. It's a global economy, so I guess we are all in this together.

[SteveC]

Good to know. It's a global economy, so I guess we are all in this together.

Couldn't agree more, I just wish things would start moving here with Article 50 instead of waiting about leaving
things in limbo, at least then we know the path we're on and we know there's a deadline to complete it, 2 years.

[Neilg]

The high end/luxury market has been hit hard, but I think it'll eventually end up picking up more than before this happened. trophy properties in London are on sale with this exchange rate, all it takes is some good deals to get thrown around and it'll be seen as a sound investment opportunity again.

[mitviz]

so where all that work is shifting to then? its really messed up how the economy works, ok brexit, if they want to go let them go, the agreements between them and eu really hits those business inside the uk that hard? i would love to know why exactly, everyone says business is shifting to other countries, people are leaving the uk etc but i really never got it, were businesses importing cheaper materials, cheaper prices? if so how much cheaper? its all weired

[glorybound]

It's just fear. When people are afraid, they tie up the purse strings. Usually, the government lowers interest rates to spur spending; we'll have to see.