A view from afar
I have been following this thread with some interest to see what the opinion is concerning the UK market. Our view is as it has been for many years that the market is being driven by false premises. Perhaps I am from the wrong camp. But as markets go in cycles and the real money people who make or break the wider picture are pulling from the residential markets in the UK there has to be a change at some point. Noting that 2 out of 5 employers are now for the first time in the last decade looking at substantial lay offs we will see the market alter slowly. The UK is still some 4-6 months behind the US and it has a very much higher reliance on credit to sustain the 'propping up' that has been seen by lax lending and over relaxed government control.
I can still see periods of hardening and softening as the market erodes. But overall as the UK has the inability to alter its economy from a service debt driven one into an export driven one it has little room for manouvering unlike the US that has vast resources both materially and manpower. The US will we hope alter its course over the next 2 - 3 years and start to get back some of its shape with regard to deficit control. Any controlling that Darling has to do if he has any morals will affect the economy greatly and very negatively
We are speaking to people / investors regularly and the consensus is at best to do nothing at this moment while they watch and wait.
Estate Agents who we have known for over 10 years say it is a very uncertain time and the view to survive is to diversify.
Paul
Last edited by Fizzypopp; 11-02-2008 at 05:47 PM.
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