March 12, 2010
Tiny shoots of recovery in the property market
Earlier this week i was rather startled this week when a couple of bright young things took two days off to go to a studious property seminar in London. They live in rented accommodation and drive a remarkably unpretentious car. But they obviously have enough spare cash to develop a property portfolio. To develop a passive income stream as the jargonista would have it. And the papers think it’s all over.
I am always a tad suspicious of all these seminars and conferences that each you how to do things with astonishing success. After all shouldn’t these whizzes be doing it themselves, rather than create a lot of competition by telling everybody their alleged secrets?
I suspect they are being sponsored by a financial institution, keen to give mortgage lending a kick up the backside. After all, now spring is here and the daffs are about to bloom, it is probably when our own houses, not to mention those other one with tempting ‘For Sale’ signs seem to fleetingly look their very best. And as you look askance at your bank statement and wonder if your mortgage is cheaper elsewhere, such whimsical thoughts can be answered by viewing Nationwide remortgages.
I have to say that at least once a week I scan what people have been chatting about on-line on a mortgage forum. You can usually see some good advice that gets you thinking. And when it is time to act – at least you are well-informed.
Yet perhaps we won’t know the property market is back in full bloom until the television is choked with annoying property adverts. We’ve had postal gold, we know somebody who will buy any car (whilst noting that none of these organisations ever claim to pay a fair price). Soon maybe we will see ‘we buy any house’ adverts that give you the incentive of selling your property or home quickly for cash. At the moment that probably appeals more to people who are in financial distress. But it cannot be too far in the future when you want to sell your house quickly – because you want to buy another one.
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