The doom-and-gloomers have been creeping back into the media again with talk of how things could all go bad again.
Yes, sure, I guess anything's possible. After all, we're currently sailing in troubled waters we haven't seen for 30 years or more.
But the fact is that the UK is performing considerably well-considering everything else going on in the world. Given the current economic stats, there's no reason to change tack; the markets are resetting and realistically, I don't think double-dip fears in the UK economy are realistic.
But if we truly want to shake off all this negativity and really crack on with our next phase of growth, here's what I recommend:
First, give the bankers a break…
The banking sector is the largest income producer for the UK and yet we are destroying it piece by piece with blame and indecision.
Bankers are no longer sure what the future holds for them here in the UK so they're understandably looking for certainty elsewhere. And other countries have no trouble providing it.
So I think it's time to give them a break and accept that we're all to blame for the boom and bust that happened. Let's give them the certainty they require and let them get on with that they are good at making money, employing people and contributing over 30% to our national GDP.
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Second, “Keep calm and carry on” because the government's austerity measures are working
No-one's been talking about downgrading our debt. Not even a whisper of it. In fact, we've been praised. Considering the mess that Europe and the USA are in, that's a massive achievement and an endorsement of the current government's measures. Granted they haven't implemented it with finesse, but given the severity of the current global climate, I don't think anyone could have done better. The important thing to focus on is that we're making headway.
Third, the government needs to help us get more houses built
Every expert in the country agrees that there's a MASSIVE shortage of housing. The government needs to help us by removing the barriers to building more property and focusing on an audacious residential works program. This should be funded by the banks they own, developers and ultimately funded by the US, the investors i.e. the mums and dads whose pension funds aren't working, whose dreams of retirement are failing, whose pension balance is less now than it was 10 years ago.
Only with truly audacious leadership and visionary ideas will the necessary stimulus be provided so that the construction sector can really take flight. This will, in turn, ripple out throughout the economy and set us back on track.
And lastly, ignore the “experts” they have no idea either!
I speak to a lot of people from all walks of life- experts in property, economists, asset managers, city “fat cats” and even taxi drivers-and truth is that no-one agrees on anything and more importantly no-one knows what is really going to happen. Everybody's making predictions, but in reality, they're just guessing.
So how can you make the current situation work for you?
Well, the great thing is you don't have to do anything differently. If you are building your portfolio based on the property investment principles we teach then just keep at it.
The UK is slowly (but no slower than the rest of the world) coming around and whilst there is still loads of debt, a deficit and some inflation, we're slowly finding our way back.
If you want some certainty, some clarity or perhaps just a nudge of encouragement the team are here to help. Call them on +44 (0)207 923 6100 or direct on their mobiles.
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