How has the economy affected you, if at all?

[wellard]

Thanks for the update Timber, I have thout about you and Rain a couple of times and was worried how you bought at the tail end of the house price boom and wondered if things had really gone pear shape.

Anyhow keep the feet of the desk and the billing up to date and I am sure you will be fine.

And reflect on this ... seven years ago i suggested you run for president on this forum instead of you they elected some other Chigaco suit ... Ya missed the boat fella :

[Micah Foehammer]

With the housing market tanking and interest rates down at near record lows, we've made the best of the situation by FINALLY finding the house we wanted at a 4.625 interest rate. WOOT!

Closing on April 24th.

[Lord of Alcohol]

I always thought lawyers were pretty safe (job-wise) but as TL says not this recession/depression? go around. We finished a large addition for a couple several montha ago and the wife (lawyer) was just layed off recently. These are people you actually liked building for so I hope turn out well there.

On another note I had to take a wage cut last week which sucks ass. Somehow I dont think my rents going to take a cut.

[Variol (Farseer) Elmwood]

Originally Posted by Lord of Alcohol I always thought lawyers were pretty safe (job-wise) but as TL says not this recession/depression? go around. We finished a large addition for a couple several montha ago and the wife (lawyer) was just layed off recently. These are people you actually liked building for so I hope turn out well there. On another note I had to take a wage cut last week which sucks ass. Somehow I dont think my rents going to take a cut.

I think pay cut is still better than, job gone.

It has helped me to discipline myself to sock some $$ away.

[Captain Obvious]

I'm Kind of with Wellard on this - life is going pretty well.

we sold our old house last november, realising a 100% gain and bought another house at $50k odd less than asking price.

Now the interest rates have gone down too, so the rent we will get while away (see below) will easily cover the mortgage and all the expenses.

We are now moving over to Perth (aussie) in a few weeks and have both got jobs sorted out. My job should provide great experience etc, and is a 33% pay increase (and that is without converting my current $NZ salary into $AU).

So, despite it being pretty tough out there, we have been damned lucky!

[Timber Loftis]

We have more layoffs announced. One lawyer, who wasn't at the "we want to keep you all" meeting I mentioned left. Just Friday we lost 5 staff. It continues. Another lawyer I know is leaving for a better opportunity at a bigger firm, but he has a limited 1 yr. window to "make things happen" in his department from what I hear.

One partner I spoke to suggested that if our 100ish member firm makes it through this recession, then it will be with 50-80 lawyers intact.

I hope everyone else is weathering this well.

Best news is it's a buyer's market.

[Variol (Farseer) Elmwood]

That seems to be the trend I'm seeing, both from my customers and in the news. The bigger customers are generally hit harder.