Recession Galway

ScumLord

The pubs in my town are dieing a slow death, they raised the price to €4.30 and that's it for me. They can shove their pricey pints up their fat holes.

Why should I pay 3 times the cost to sit in a boring pub, listening to **** music or watching crap on a tv that I could watch at home?

There's no value in rural pubs anymore. City pubs can start doing food and coffee but these guys can't (or probably couldn't be arsed).

KevR

galvianlord wrote: »

It also doesnt help that Galway lags behind places like Limerick and Athlone when it come to choice in retailers, particularly clothing. I know people who prefer to head to Athlone to shop than Galway because of the wider choice on offer in the new centre there. And that is not meant to demean Galway's independent traders...it's just a fact that means Galway is hemorrhaging retail sales to other Irish towns if and when people spend!

Indeed! I know a few people who prefer Limerick or Athlone because of the improved choice in retailers.

I go to England a few times per year to visit family and friends and often get any clothes that I might need when I'm over there because there's a much better selcetion and it's cheaper than Galway..

Bass Cadet

d-gal wrote: »

Shop street is always busy, pubs and clubs are packed (weekends anyways)

certainly not on a Sunday anymore. Galway is like a ghost town on Sunday evenings/nights. There was a time when Sunday was busier than a Friday night in Galway imo

JohnCleary

Bass Cadet wrote: »

certainly not on a Sunday anymore. Galway is like a ghost town on Sunday evenings/nights. There was a time when Sunday was busier than a Friday night in Galway imo

That's cause everyone's in mass prayin'

100 jobs gone in Thermo King today.

I was in Dublin at the weekend and thought the same thing until I realised no-one was carrying bags and a lot were up for the rugby.

There are no jobs being advertised compared to year ago.

I think a lot of the most obvious shutdowns of shops etc won't happen until the new year - they are hanging on for the christmas sales.

quietobserver

just like the hymotist says, eyes open wide awake, it might not be effecting people but the effects of it are evident everywhere, look at all the newly finished property vacant, in some cases just the shells finished and no interiors( opposite Ceannt station for example)

things are slowing down, no harm, people need a reality check, was in argentina after the collapse of their economy, some of the nicest people and only a hole in their pocket. People have lost touch with what human nature is and accepting the man on the street as an equal, status in society went way out of control Galway and beyond.

Watch that reeling in the years, hard to look at memories of the 70's and 80's and not feel they were more human times. The roller coaster has to come to a hault. The revolution will not be televised!

Eurochild

Myself and the missus went for a quiet night out last night, went to Eddie Rockets in Wellpark where we were charged €30 for thoroughly mediocre food. We will not be eating there again (Scotties opposite GMIT do the same type of thing cheaper and much better). Went across to the Eye Cinema then only to be told we would have to pay €13.50 EACH to see our choice of movie (W) because it was on in the "luxury" screen. Considering the regular screens cost €7.25 each Mon-Thurs we balked at paying €27 for a night at the movies and went home instead. So much for our night out.

There's a lot of places which have had it far too soft during the boom years and if they don't get their act together they won't survive this recession.

SimpleSam06

micmclo wrote: »

Cinemas do extremely well in tough times.

I fear that was before the advent of limewire and whatnot. Expect them to be hit as hard as anyone. Actually the internet should have some fascinating effects on people's behaviours in this recession - legal or not, it offers vast archives of movies, music, games and entertainment (not to mention just plain old websiteslike boards) for basically free. I'm wondering will that exacerbate or help the situation.

quietobserver wrote: »

things are slowing down, no harm, people need a reality check, was in argentina after the collapse of their economy, some of the nicest people and only a hole in their pocket. People have lost touch with what human nature is and accepting the man on the street as an equal, status in society went way out of control Galway and beyond.

Watch that reeling in the years, hard to look at memories of the 70's and 80's and not feel they were more human times.

Oh yeah the gang activity was great, I still remember some of the innovations those muppets brought to the scientific field of street violence. Since they had no guns they taped two stanley knives together so the cuts couldn't be stitched. Ah them were the days, nothing like a bit of rampant poverty to bring people together.

The funniest thing I see these days actually is the price increases shops and businesses are levying. You'd think we were in boom part 2 the way they are cranking them up. I couldn't figure it out until it came to me - they are trying to make up the shortfall in sales by increasing prices. Ye gods. This is going to end well.

sgthighway

I have only stopped buying stuff I don't need by not going into a shop unless I need something - as in no looking around.

I reckon we will see the worse after Christmas.
I heard one of the Main Car Dealers for two different brands here in Galway has NO orders for new cars for the New Year so it might be a while before we see any 09 Gs.
I can see another Hotel or two close up even for a few months.
There will be less people going on sun holidays.
Sports Supporters might have to stop going to matches as its steep to go and see Soccer, Rugby & GAA for some.

SalthillGuy

Recession me arse......
Just walk down Quay St at the week-end and you will see the recession.
It will be over before we know it.
The pubs are still packed.

galwaybabe

SalthillGuy wrote: »

Recession me arse......
Just walk down Quay St at the week-end and you will see the recession.
It will be over before we know it.
The pubs are still packed.

i don't know which Quay Street you were walking down but the one i walked down on Sunday evening was a tumbleweed zone!

snubbleste

SalthillGuy wrote: »

Recession me arse......
Just walk down Quay St at the week-end and you will see the recession.
It will be over before we know it. The pubs are still packed.

Only because people are indulging in a government sanctioned drug en-masse :pac:

The new year is going to be bad. Lots of retail places will shut down / lay off workers once the cash cow that is Christmas is over.

Also those of us working will feel the pinch when those tax rises kick in in the January pay pack and there won't be many pay rises.

AvrilLavigne

SalthillGuy wrote: »

Recession me arse......

Keep your spirits up, I'm sure you'll find someone! :P

Maybe you should lower your prices?

sgthighway

I was in the Quays last Thursday night and it was dead. Buskers wasn't busy either.

Amazotheamazing

sgthighway wrote: »

Sports Supporters might have to stop going to matches as its steep to go and see Soccer, Rugby & GAA for some.

Reckon it could go the other way too though, a ticket to a Connacht or Galway united match will be more attractive since many can no afford to go to an International or a premiership game. Course, both Connacht and Galway still need to work on their product a good bit.

futura123

what about all these electrical / furniture stores?? how long can they last into 2009?

SalthillGuy

Those offering essential items will plough ahead and survive.
Those offering luxury items or expensive upgrades will bear the brunt of this.
I you choose to get into a business that is largely luxury, then you are taking a big risk.
I don't thjink it will last as long as some are predicting.
Property will suffer for 5 years+, because there is such an over supply.

JohnCleary

SalthillGuy wrote: »

Those offering essential items will plough ahead and survive.
Those offering luxury items or expensive upgrades will bear the brunt of this.
I you choose to get into a business that is largely luxury, then you are taking a big risk.
I don't thjink it will last as long as some are predicting.
Property will suffer for 5 years+, because there is such an over supply.

Pitty the majority of the over-supply are sh1te built houses in estates thrown up any sort of way at all.

While it's obvious property fullstop is taking a hit, decent (possibly 'one off') houses will suffer less I reckon, it's the one's that were thrown up overnight by sloppy builders that Mr. Joe Soap though he'd make a killing on as an investment that'll suffer

SalthillGuy

People (investors) also bough to rent.
Many were rented to the large numbers of foreigners who came here in search of work.
A lot of those have now gone back home and the houses are left empty.

Fey!

SalthillGuy wrote: »

People (investors) also bough to rent.
Many were rented to the large numbers of foreigners who came here in search of work.
A lot of those have now gone back home and the houses are left empty.

Thats a very valid point, and it applies equally to commercial properties. People paid big money for buildings, then charged huge rents to cover their costs. Now business' can't afford the big rents because trade is slow, so a lot of places are now empty. Unfortunately, the landlords can't see that they'd be better off lowering the rent and have some money coming in, rather than having the place empty for a long time with no income and mounting costs.

The same applies to home rental; there may be a lot of property becoming vacant, so rents should start to get lower as supply v demand swings.

galvianlord

i dont think thats the issue with commericial buildings. its more to do with the fact that retailers have requirements that galway city centre doesnt meet. like its pretty and all, but the shops are too small for what they want. hence we get so many crappy little stores and 101 phone shops between eyre square and quay street or the shops are left vacant if no one takes them. Cant wait for yet another liquidation shop to open...

kayos

galvianlord wrote: »

101 phone shops

Can not see those lasting much longer people wont be going out buying new fancy phones and the phone companies will start cutting back on upgrade offers. Honestly how many Vodafone/O2 stores do they need?

kinetic

JohnCleary wrote: »

Pitty the majority of the over-supply are sh1te built houses in estates thrown up any sort of way at all.

While it's obvious property fullstop is taking a hit, decent (possibly 'one off') houses will suffer less I reckon, it's the one's that were thrown up overnight by sloppy builders that Mr. Joe Soap though he'd make a killing on as an investment that'll suffer

I agree,there is loads for sale in Doughiskia,i think that place will end up like a ghetto.

Mind you i see 4 bed semis in Knocknacarra on the market for below €300,000 for the first time in a couple of years.

Still 20% to dear even at that.

KevR

I feel sorry for any young couples who bought houses recently when prices were at their peak and are now in negative equity.

But I also think that prices were way too high and they had to come back down/correct themselves at some stage. I'm in University now and if prices kept going the way they were going there would have been no chance of me being able to get on the property ladder when I get out of college.

There were people who were born/grew up in Galway city, had decent jobs in the city and yet they couldn't in their wildest dreams afford a house here, instead they were being forced to move out to the likes of Tuam, Athenry....etc. That was definetly an indication that prices were too high and unsustainable.

Weidii

Mm, the most noticable thing for me would be that it's quite difficult to find a job that's not one of those dodgy "text us your number and earn big cash" ones from the advertiser.

Wompa1

Its at times like these I'm happy I built a recession shelter back in dickity'7

Stky10

Its a recession when your neighbour loses their job. Its a depression when you lose your job.

Expect lots of depression to hit in February/March, as lots of jobs are lost, and the bills for christmas have to be paid. Its going to get very messy.

@Kinetic, I'd say still approx 40% overvalued.

JohnCleary

Stky10 wrote: »

Its a recession when your neighbour loses their job. Its a depression when you lose your job.

Expect lots of depression to hit in February/March, as lots of jobs are lost, and the bills for christmas have to be paid. Its going to get very messy.

@Kinetic, I'd say still approx 40% overvalued.

Are people really that stupid, that if they're not sure if they're gonna have a job after the new year, they still go and spend like wild on XMas? If so, they fcuking deserve to be in debt.

Credit sucks. If you don't have the money at your ready, you can't afford it imho - It's my ethos and so far has served me well. DON'T BUY LUXURY ITEMS ON CREDIT YE EEJITS! Oh, and improvise with your XMas presents this year lads, it's the thought that counts. Just on Wednesday night, we gave our neighbours (it was their birthdays) pot noodle wrapped in tinfoil as presents - they love it.... I love being a student

littlebug

We've taken a substantial financial hit already .