How is the economy where you are?

[High_Side]

So we are in the biggest boom in the history of our province right now, even surpassing the last "BIG ONE" of the late seventies. There were a lot of lean years in between where jobs were hard to get and employers were playing tough. In the past two years however this place has turned in to a zoo. Businessess are shutting down for lack of staff. We've imported every spare trades person from the entire country and still are not even close to having what we need. EVERY company is short on staff right now and the people still there are working way too much just to get the basics done. People are getting burnt out. House prices have started to level off but earlier this year they were going up at $1000 / day. They are so high at this point that potential new hires form out of province cannot afford to come here despite the high wages. The vacancy rate is at < 1%. Entire families are living on the street down town even though they are working. A strong economy almost creates more troubles than a poor one. These are interesting times in Alberta.....

[MrGompers]

Ecomony here is ok. No real boom that I can see. It's odd that housing prices continue rising altho wages are stagnant.

Conn is a strange place tho. Within 20 yrs the entire state will be a suburb of new york city. (2 counties already are)

Eastern part of state has 2 indian casinos which did create about 12,000 jobs.
Altho, all those jobs are low paying for the most part. You can't live on $25,000 a yr in Conn.

[old-n-slow]

Hang in there High-side. It'll change....

[NorthernPete]

economy is good where I am, gold prices and metal prices in general are way up, so the mines are doing good. the forestry sector is in a bit of trouble due to the high electric prices up here, and that stupid soft wood lumber dispute. (i wont start on that though)

real estate is through the roof, i know that most houses in town are up about 20% in value. and we have had quite a few large box stores come to town (Walmart and Home depot, I know they smacked the little buisnesses around a bit, but thats the way progress is I suppose.)

oh and highside, Recruiters from the Oil sands operations in ALberta are coming into our area all the time. the paper every Sat. has ads for workers out there. big money offered, but the cost of living is just nuts.

[CNF2002]

I dont know about our economy, but our insurance rates have skyrocketted. In the last year alone my home insurance (after one company went bankrupt) has tripled and my health insurance has doubled, and is scheduled to increase once again at the end of this year.

I'm tired of hearing all these horror reports about how so many people lack basic health coverage. None of them mention that the rates are just astronomically high and health insurance is just plain unrealistic.

The cost of living here is up to. Taxes are going up, and appraisals are way overpriced. I think this year America had a record number of appraisal disputes. When we bought our house last year we got a letter from Uncle Sam claiming we were going to be taxed on a value of over $25,000 more than we bought the darn thing for. Ridiculous.

We have a Walmart here. I refuse to shop there. The bulk of my 'big store' spending is at the grocery store, which have become ad-crammed overpriced marketting ploys anyway but are a basic necessity. I occassionally go to Target, maybe once a month, but only with a product in mind. I don't 'shop'. Most purchases at megastores are impulse buys anyway. They have studies that show people will spend more than they intended when shopping at megastores, even though the product prices are lower. Even so, save $1 on a hammer, drive the prices down further, cut manufacturer profits and slash production jobs...joy. But I digress.

Anyone know if America is headed for another negative savings rate this year?

[Nibblet99]

Oppressive at best. I was hoping to emmigrate to somewhere like canada before their economys kicked off to match... guess thats another country down

[Candy750]

We are in NY's capital district - and after this morning's quarterly meeting for the credit union, I think we are doing pretty good. Although the national savings rate (how much people can save) is down, our deposits are still at about a breakeven point - not much new $, but not a run either. Although the national rate for mortgages is creeping up, we continue to lead our peers in first mortage originations. And business loans (what I do) are up 56% for us - we lead the credit union in loan growth.

This area is pretty well insulated from alot of negative national economic factors - the state capital makes government a good employer, buyer of goods and services, depositor of funds; the many many colleges here do the same, and we have a good many hospitals. Not to mention that Saratoga County is home to the Saratoga Raceway - with the summer racing extravaganza, and now year round VLT gambling-like gaming - which contributes millions to the state's ecomomy. We are also very touristy - the many lakes and attractions (Lake George now has an INDOOR water park).

That all being said, Albany, Schenectady, Troy are older cities, and the infrastructure is starting to really decay. I grew up in Queens, and NYC is also old, and suffering in this area.

The one downside - NYC is now the safest place ever - becasue the drug dealers and gangs have moved to Albany and Schenectady. The schools are experiencing an influx of violence never seen, and there are shootings on the street each day.

My town is very small, very rural, and hopully, will reamin underdeveloped, just the way we like it! I travel about 30-40 minutes to work....

[sv-wolf]

Hmmmm! Holding steady for the present, but signs of a slowdown all over the place (I think we are due for a nice, lean hungry slump). House prices continuing their interminable rise. Gap between wealth and wages continuing to widen on the U.S. model. I think the U.K. is now only second to the U.S. in the world for that. National Health Service seriously falling apart - hospitals are closing wards and downsizing. Violent crime on the up and up. If Gordon becomes PM taxes will rise. A pretty picture. Like Nibblers and almost everyone else you talk to here, I'd emigrate too - even if only to get away from the speed cameras and anti-bike legislators. But somehow I kinda like it anyway.

[Candy750]

Talk about health care - Have you heard that Walmart is offering Rx drugs for $4 - whether you have insurance or not? Also, "in -store" clinics - can get an exam and treated for smaller things like ear infection, strep, etc for about $40. Good moves!

I am very very very lucky not to have had much dealing with the health care system. I have a pan from work for me and hubby for $50 per month, for dr, hospital, Rx. But we really (knock wood) don;t get sick).

As for dental - the plan is $4 per month for me only - but it's only good for cleanings and fillings. I have a cleaning every 6 mos, and had wisdom and some other teeth out that I paid kind of alot to go to a surgeon I trusted. As for reconstructive work - it's awful! To get good replacements (implants) insurance does not cover and they are about $2000 each. New bridgework is only covered about 75%....

A few people at work on my floor had cancer treatments and were covered pretty well. I am not sure if they bought the optional cancer insurance (I did not).

I also have AFLAC to set an amount of $ I would get if on disability - l picked an amount a bit higher than my take home, and it is tax free. Lus I have disability on my motorcycle and snowmobile loans.

But I do worry about healthcare and dental care as I get older. (ugh! I don't even want to think about getting older!)

[MrGompers]

PLus I have disability on my motorcycle and snowmobile loans.

Never buy disability insurance for any loans. If you are unlucky enough to actually die in an accident let the insurance company send the bills to your grave.