Manage episode 292378886 series 2342556
In this episode of Mark My Words, Mark explores the possibility of a property crash coming. And, if it does, what you can do to mitigate your risk, ride it out and come out the other side unscathed.
Mark also gives an update on where the economy is right now, and although he reflects on what has happened in the past and gives ideas and predictions of what may happen, no one actually knows what the future holds.
- In recent weeks and months Mark has seen an increase in demand, and cash, for property in desirable ‘leafy areas’ as well as terraces in his local area. There are a lot of people chasing a lack of desirable properties.
- The growth bubble we are in at the moment wasn’t entirely predicted, many people expected there to have been a crash by now. It is something that is very difficult to predict, the market hasn’t had to deal with anything like this pandemic before, the parameters are new, vast and different.
- Furlough is due to end in September, this will be the biggest test to the market. Furlough has become the waiting room for redundancy.
- If you can find a good deal now, then whatever happens it will be a great thing. Timing at the moment is incredibly hard to predict, but in the long term property that is a really good deal in the current climate is relatively low risk.
- Most economists are now predicting a post-pandemic boom. People have not been spending their money, there is cash and spending to come.
“If you’d had George Osborne and Cameron in charge the result might have been different, they may not have supported to the same extent”
“They will actually devalue sterling by inflating it...the pound in your pocket is gonna be worth less”
“There are so many little wheels that move…all of this stuff feeds in to create an unpredictable result”
ABOUT THE HOST
Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.
See omnystudio.com/listener for privacy information.