No Recession

No Recession

According to Abbey, recession is too strong a word to sum up the UK economic outlook.  While it looks as though the US is heading toward recession, the fundamentals underpinning the UK suggest our economy is just heading for a slow down.  

Chief economist for Abbey, Barry Naisbitt said the global economy was seeing changes in conditions that it had not seen for a long time.  Mr Naisbitt said there were some market trends that should not be ignored, such as rising arrears and repossessions and it was only proper to draw attention to these areas.

Our view

Why is it always lenders that say we are not heading for recession and sensationalist TV journalists who say we are?

Lenders do not want you to be frightened to move.  TV want you to be ‘glued’ to their program.

The reality is that property has been overpriced for many years.  Oil and gas is in short supply and people are naturally nervous.  Given nervous investment markets, now is the time to buy.  Given nervous property markets, now is the time to make that cheeky offer.

Economic slow down presents opportunities for long term investors and fortune favours the brave.

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