This deployment? It was a necessary evil for this family. The extra income (that will come eventually, after we pay down the cost of him going in the first place) is going to help us decrease our debt load and make our life a little easier. We are both very lucky with our current employment situation, as we both work in relatively stable positions...I don't see the need for military members to decrease any time soon, and I work for the state government. Our outgoing and incoming Governors both agree that lay-offs are only a last resort, and I have enough time in to feel secure in my seniority. That doesn't mean that I'm totally immune, and I remember that fact.
My SIL isn't fairing so well. Her employer outsourced her whole division (customer service) to Mumbai last year. Although she knew it was coming, it happened at one of the worst times possible. Positions at the level she was at are non-existent right now, and when she interviews for positions that might be consisered below that level, she's told she's too qualified. People don't want to take the chance that she is going to leave for greener pastures...she just wants a job.
Now my BFF is worried. She just bought her first house, and today she found out that her company will be having lay-offs. First come the voluntary ones...those people who want out, or who are close to retirement, whatever the reason, they want to go and will take the chance while it's available. After that, they will determine where else they will cut. And while she has some seniority, and there should be a need for her area after the cuts, you just never know. Of course she's freaked out, and other than the normal "Pollyanna" comments, I'm just not sure what to say to her. Of course, she'll be in my thoughts and prayers...but, that doesn't really help to alleviate her well founded fears.
I am glad that my husband and I waited to buy our first house. We could have gotten ourselves in over heads, buying a more expensive house, or buying earlier and getting a non-traditional mortgage, but we didn't. We may have paid a little more for our house, but it seems to be holding its value, and we aren't looking to go anywhere anytime soon. And my friend did the same thing...everything about her getting this house said it was the right time and place for her. I really hope that she is able to keep it all. Basically, I think that it sucks that those of us who worked hard to do things the "right way" are now having to pay for all those who chose to live the high life.
Another friend has a neighbor that bought a house on an "iffy" mortgage. The rate went up, they couldn't afford it, they were bailed out, and she's showing off her new Coach bag the next day.
I knew that the bubble was going to burst, and I really think that we all needed a reality check. I just hope that those I know and love are able to stay afloat until better times.