We get asked by virtually everyone we meet “are we in another property bubble?” Our answer is “Yes, because we never left the last one“. We never naturally corrected the market. We just pumped it full of steroids and cheaper credit. Will it crash? Who knows? I sincerely hope not, unless you really want to live in a London that will resemble that of the film 28 Days Later. My feeling is we are too interlocked, we can’t escape even if we wanted to. When a country like ours is owner occupied to the tune of 70% the basic utilitarian principle of the greatest happiness for the greatest number of people prevails. My vested interest is your vested interest and vice versa.
Britain is a ship of fools heading towards the rocks of a gigantic financial pop!