Anybody affected by the Financial Crisis?

**Dragonbite** · October 16th, 2008

I know Connecticut is a large Financial state, what with all of the Insurance Companies already in our borders.

Has any of the market downturn affected anybody (in the financial industry or not)? I am curious to see if anybody has seen anything come from this yet or if it is more like a storm brewing on the (west) horizon?

I work for a financial company but so far so good, we aren't being directly affected by it (yet). It has just changed some of the focus of helping our customers deal with this.

As one person put it "it isn't a financial crisis until I'm unemployed.. then it's a financial crisis (for me at least)."

**ninjaowen** · February 23rd, 2009

I think everybody is really affected by the financial crisis. I bet even Connecticut. Other countries worldwide were also hit. No one was spared and its really sad to know that. More jobs losses etc etc

**StockTrader6080** · October 1st, 2009

Originally Posted by ninjaowen

I think everybody is really affected by the financial crisis. I bet even Connecticut. Other countries worldwide were also hit. No one was spared and its really sad to know that. More jobs losses etc etc

Absolutely! We are far from being out of the woods.
I recently heard from a real estate agent that the banks have only released 20% of the foreclosed houses for sale, so they don't show how bad things really are.

Keith

Goodbye mutual funds. Hello CoolTrade robotic traders

**Dragonbite** · October 1st, 2009

Originally Posted by StockTrader6080

Absolutely! We are far from being out of the woods.
I recently heard from a real estate agent that the banks have only released 20% of the foreclosed houses for sale, so they don't show how bad things really are.

Keith

Goodbye mutual funds. Hello CoolTrade robotic traders

We were looking at a foreclosed house. It was assessed at $500k, they were selling for $400k and in a good market, all fixed up and such it could conceivably go for much more than the assessed value.

Problem is, the bank wants cash-in-hand before even considering an offer and we don't have that kind of cash lying around. Even if we spruced up and sold our house at best value we'd be cash-strapped (and if they refused the offer, we'd be homeless too!).

I would love to be starting some investing while prices are low, but first I have to get my 6 mo. cushion, in case anything happens to my work, in place.

**warfacegod** · September 27th, 2010

It's interesting that it's a year later and the people on the news are lying about the economy getting better. If it's getting better then why have I effectively lost my roofing business from a complete lack of work over the last four months? Why can't I find a regular 9 - 5 style job? Why hasn't the national unemployment rate gone down? In fact I'd have to say the economy was better last year. I made roughly 17,000 last year. It's not much but it's excellent for a second year in business and it's a damned sight better than the pitiful 3,500 I've made this year.

**Dragonbite** · September 27th, 2010

Because CT always seems to be behind on the recovery curve?

I remember in the recession of the 90s, CT was the first to sink and last to climb out of it. They said when this one hit that CT was better prepared, but I don't see evidence of that yet.