Tuesday, 19 February 2008
I have been involved in the property market for twenty years now and have experienced most aspects of it including a couple of market crashes.I have and still do buy,rent,restore and build houses although my main interest is in restoring period properties,mainly victorian and georgian but I'm hoping to work on even older houses in near future.As I have written before however,the current economic turmoil in the U.K. is causing me major problems as I cannot decide which way the market is going .....or if its going at all.I have several properties on sale at present a couple of which have languished unsold for a year now. The last two weeks have however produced offers on 4 houses...two good and two low offers...what to do? Nulabours nationalising of Northern wreck has even further clouded the waters as I am firmly convinced that nulabour have lost whatever tenuous grip they ever did have on our economy...listen gordo...when the world was booming over the last decade even a trained monkey could make money...I'm proof...it wasn't you and prudence! I'm tempted to take all the offers and move on with new projects whilst keeping the rest of the companies properties tucked away till the market recovers...if it ever does. I started buiding in America last year for the first time...great timing as the crash in property sales has if anything been even worse (balanced in my mind by a much better working enviroment)......only good thing is that this crash will get rid of the speculators that have driven the market to unreasonable heights with sometimes shoddy goods...quality will out...I hope!