Imminent Recession to Cause Pressure in the UK Property Market, Rick Otton Says
Added: (Sun Feb 12 2012)
Pressbox (Press Release) -
Official figures have confirmed that the UK economy is going nowhere but down.
British economy is continually being threatened by the looming economic recession, mostly dragged down by the Eurozone crisis. Growth has slowed down, credit conditions are deteriorating, household expenses are getting tight and overall financial atmosphere remains dim for the UK. Businesses are also afraid to invest because of market instability. Property specialist Rick Otton warns that this current economic decline will put a lot of pressure unto the property market, which is “stagnant” right now.
With the economic meltdown approaching, people can expect harsher conditions. “It will be a tough year ahead of us, especially the first half of 2012. The UK economy is in a bind as the euro problem progresses for the worse and this puts a lot of pressure on businesses like the property market,” Mr.Otton said.
A recent article from Investor Today said that lending conditions for this year will be tight, making it difficult for property investors and home buyers to buy properties.
“Most people rely on the banks for property purchasing. But with the banks imposing stricter lending regulations, it will be almost impossible for ordinary people to get a home loan with our current economic situation,” Mr. Otton said.
The solution, according to Mr. Otton, relies on property investment strategies that do not depend on banks. For thirty years, he has introduced and promoted bank-free and money-free techniques in buying properties.
“I’ve been using these strategies and I’ve helped many students go up the property ladder by embracing creative real estate. With the recession causing uncertainty in the property market and the banks becoming helpless in the grip of the economic crisis, the best option would be to cultivate what resources we have now and come up with a different system that would work,” Mr. Otton explained.
Mr. Otton shares his property investment strategies through real estate seminars and trainings. More information can also be accessed through his website: http://www.rickotton.co.uk/sales-page