6 Billion Pounds of cuts announced but only tip of huge debt iceberg
Uk Govt announce its £6 billion worth of cuts to fight the Debt crisis but this is only a tiny percentage of the £190 billion deficit.
Huge job losses are sure to follow added to this there are hints that interest rates and mortgage rates will rise soon this indicates that property vendors will look for quick sales to get out before the prices tumble.
Condolences must be offered to all those 6000 members of the public who have paid thousands of pounds in training to get qualified in proividing H.I.P.s for house sales who have now been made redundant because the new govt have scrapped them. i nearly joined that number myself last year ( phew a near miss for me!)
How will this affect the markets? well obviously : Land securities are going to suffer, buy to let landlords are going to go under, BUT mortgage companies and Insolvency practitioners will profit so my adbice is to BUY Loan company and mortage company shares and sell property shares
Mark
BUY SELL HOLD
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