Layoff fears an opportunity?

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The recent recession has changed unemployment rates in Alberta from a low of 3.5 in October '08 to a high of 7.5% in March '08 according to Stats Can labour market numbers.

There is bound to be rumours in many companies about lay-offs.  Of course, senior management creates new jargon about lay offs with each change of economy or corporate plan. 

What words have we heard before to avoid using, lay off?   Re-organize, re-engineer, restructure, right size, rationalize...and I think the new one is simplify.

There will always be rumours about lay offs in good and bad times.  But, during economic slow downs and during the period of job-less recovery following a recession- fear/rumours are all over the corporate communication channels. 

How can you take advantage of the fear?   First, it would be fool hardy to start looking for your first home or up-grade if you have received notice of lay off.  But, if it is just rumours it will still not stop that internal voice of yours from creating doubt and inaction when it comes to buying a home.

Discuss a financial strategy to have a reserve for mortgage payments in case you do get laid off.  We know that once the unemployment numbers move down from their current 7.5% rates towards the boom time 3.5% unemployment rates, there will be addtional pressure for home price to go up.  It will be a reflection of immigration in and consumer confidence.

Plan a strategy to remove the job loss fear you may have, and you will not lose out of the choice and prices of home now available.