3
Sep
Run by Idiots
After all the media hype!! Although lets face it any notion that
there would be a serious change to stamp duty was off the radar
because it was just press sensationalisation anyway. Yet again we
see this government completely misinterpret the requirements for
the property market, why did we ever expect any different? I can
say since Mr Brown came into power any decision he has made has
been either entirely wrong, inappropriate or misguided. All that is
required to bring recovery to the ailing property market is
'confidence', nothing else, no magic tricks, no great change of
policy, just strong well directed commonsense leadership.
Unfortunately we don't get this from Gordon Brown neither do we get
it from the Governor of the Bank of England, both of which must
arguably be prime contenders for key roles in the new series of
'The Muppets', which I understand is to be brought back to our
screens soon. We have a rudderless government who are looking for
ideas and initiatives, who rely on economists who get it wrong
every time they open their mouths, leading to utter confusion as to
the true state of the economy. Interest rates are relatively low
and declining, inflation (currently above 4%) is still not very
high and likely to dip over coming months. Regretably the 2% target
on inflation was set a decade ago without one single review
subsequently taking place irrespective of the massive emergence and
subsequent effects of the global economy. Our inflation is not high
it is just that our expectation is too low. Building societies
still have a lot of money and are quite content with 'sensible
lending'. Prices have fallen by 10% but still makes the average
increase over the last decade 10% per annum anyway. So are we
seriously concerned over having to trade one or two poor years for
eight or nine good years... probably not. In perspective this
market is not terrible, it is poor, it is not lacking people
wishing to buy or sell, neither is it lacking banks and building
societies with a willingness to lend. Effectively all that is
required is confidence, perspective, strong leadership and a more
courageous view from some of the British public. Some of these
individuals appear to believe anything and everything that they
read when reported by the press or stated by a politician if it is
negative and disbelieve it if it is postive, even though these
politicians are gasping for a last breath and cornered like a
frightened rabbit. My opinion ... just get on with it! Comments by
Graham Evans, Managing Director, Penyards Country Properties