Careful you aren't talking yourself into a double dip...
Brett Alegre-WoodChairman, YPC Group
Hey guys,
It's official, house prices are dropping and as usual the media is having a field day. It's rubbish and we'll need to be careful that we don't talk ourselves into a double dip. Demand is still subdued because banks are not lending yet. This will be at least until after April 2011 when the Special Liquidity Scheme ends. Long term I'm not worried in the slightest though, we are seeing demand increasing slowly and surely, confidence is coming back and things are definitely looking up especially for the long term.
This brings me to the other flavour of the day, inflation. I'm definitely with the Bank of England on this when I say that these rates should NOT go up yet! With the government spending cuts, VAT increases, drought in Russia and food prices increases, inflation is here to stay for a while at least. Make no mistake, we are entering the inflationary part of the economic cycle. We've already seen the industrial action start with BA and BAA as well as many unions starting to become restless.
Other issues on my radar, public sector job losses particularly in areas where there are whole towns dependent on government employment. The dramatic job cuts will affect property investors for sure! I instructed my team over 2 months ago to stop sourcing property in areas like this and I'll tell you more about that in this video.
Finally we'll discuss the emerging trend and ethical issue around 'Is it your right to own a home, should people rent for life?'
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Live with Passion,
Brett Alegre-Wood
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