UK Property News – 16 Sep 2018

Video Transcription:  

Hey guys. So, welcome to “Property News” this week. So, we're coming to you from actual Isle of Wight. Better jump on the ferry across here. And we're gonna looking to a way to make income and avoid all the tax issues. I think… So it's a new product that I'm launching over the next few weeks, so I won't say much about it in this scene, but we'll get on with the news. So, the first article this week is all about the Bank of England, and Mark Carney just coming out and saying, effectively, a bad Brexit could end in 33% drop in house prices. Now, I think the thing here that you gotta realise, and one of the statements he makes is basically that it's not their role to predict the good things that are gonna happen, but it's there to, you know, make sure or, you know, predict or potentially forecast the bad thing and what the potential negative is.

So, he's saying…and effectively, the worst-case scenario is 33% drop in house prices. So, that's the key, I think, to this thing, is what is the worst-case scenario? Go to the Bank of England because, you know, they've got lots and lots of resources to have a look at all the different functions. It's interesting that they're playing with house prices a lot. I think that's, you know, it's quite telling that, you know, they're actually after the house prices. Sherry [SP] talks about the banks can handle that now, you know, they've got that liquidity, they've got all that sort of stuff. But effectively, what they're saying is that, yeah, 33% is the worst-case scenario. That's our base, that's our bottom thing, the worst-case.

For me, worst-case very rarely happens. And I think actually we're gonna find that it won't be anywhere there. I'm mildly optimistic. I mean, we're really starting to see now the words come out and things come out that, you know, perhaps they are gonna reach some form in agreement. They don't wanna harm themselves just as we don't wanna harm ourselves. There's a bit of rationality coming. I think that is telling and that's fantastic.

So, in Brexit news, I think the interesting thing this week is how Theresa May got interviewed. And she's come out and said one of the frustrating things is the people focusing on her future and not the country's future. And actually, it's probably the biggest thing that made sense from her in a long time. So, I think the key to…you know that she's obviously under stress, you know, a bit of pressure. I mean, you've got Boris Johnson who's now really, I think, firmly putting himself forward as the future PM potential.

And you know what, he may well do it. I mean, he acts like a buffoon. Some things he does, I think, are just plain stupid, but the reality is, you know, he's still there, he gets away with it, and, you know, he's popular. And let's face it, politics is less about the reality and, you know, rational decisions, and more about emotional decisions. And unfortunately, you know, Theresa May does not invoke any level of emotion, you know, or rationality, actually, if that's the case. But, yeah.

The other side of Brexit is that, you know, there's so much infighting about should we have another vote, should we not have another vote? Who knows what's gonna happen there, you know? I really cannot say, and I don't think anyone is gonna really know what's happened, you know? We've already voted, do we wanna put it to another vote? What happens if that doesn't work out? You know, we put it to another vote, you know? Yeah, it's one of those sort of silly situations.

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