I am seeing increasing cases of Swine Flu globally including a rising number of cases in th UK. Will this lead to further down falls in the economy should the out break worsen? If everyday fears aren’t enough, the public are cautious to walk their very own streets breathing the free outside air without the concern of catching a life threatening disease.

In the UK the is no doubt a weakening confidence in the property market and despite those trying to claw on to varied notions that there are grass shots appearing, then general slide is down for average property prices. Will the added effect of a worsening virus entitled ‘Swine Flu’ add to the nations misery and lack of confidence?

Watch this space should the outbreak of Swine Flu worsen globally, there will be effect on worldwide markets and property prices….

Prices were allowed to spiral upwards at too faster rate on the back of nothing, but a ‘feel good factor’ under the Labour government. People were spending credit as opposed to their earnings. Each year increasing their mortgages to accommodate their new upgrades on cars, multiple annual family holidays and plasma televisions in every room. These kind of people added to the national debt and now find themselves in negative equity (rightly so?) and are now starting to loose their treasured possessions (which they never really owned or worked for?) and the worst case scenario is many situations, repossession of their property.

Yes, many people will feel sorry for the ones losing their homes, but just how many of these people are actually in this situation for genuine reasons? How many of them simply spent, spent, spent with absolutely no regard for future finacial situations?

People tag them as vultures, but these people that are now buying up cheap property from auctions and taking advantage of giveaway prices of cars etc because other people are trying to stay afloat should be looked up to and thanked for having been safer with their spending. Families that studied their monthly bills, never were tempted to take advantage of their limitless credit spending, that may even have rented foreseeing this property price crash, are the ones that will profit.

I think that over the next 2-3 years house prices will adjust to or maybe even below the inflation band. At present it will be those with cash that are king and those that borrowed too much that will be poor. This unfortunately is a cycle that has occured many times before and it’s a cycle that will continue in years to come.

The government is trying to combat these fast increasing figures, but really are fighting a loosing battle as inflation still remains very high and the massive increase in job loses all round the country. Add to this that many home owners who pruchased over the last few years already see themselves in negative equity, times for home owners looks very bleak for the short to mid term future.

My personnel opinion? A lot of these repossessions are those that stretched themselves too far with their house purchase, that never planned ahead and thought about potential bad times that could lay ahead. Ones that never read the small print on their mortgages they took out, just lived for today and didn’t think about when the higher interest payment rates were to come about. Never saved, but just used their plastic friends to buy the new car, new kitchen, new flat screen TV’s, SKY TV fees, the holidays to sunny shores???

I just feel sorry for the very few that are genuinely hitting hard times, that did lose there jobs dispute many years loyal service and the inflation increase has taken them well above their comfort zone. That they now find themselves in negative equity and quite literally find themselves in a ‘no move’ situation or they admit defeat and give the keys to their homes back to the bank… but where some lose, some are to gain and at last young families can afford a house to live in as we see house prices falling, and as one house sells for cheap in an auction and somebody has lost everything, someone will gain a new start in life and a cheap property to live in.