"Let there be one more property boom..."
“On my desk is a coffee mug, given to me by industry veteran Harvey Soning, decorated with a prayer to the almighty: “Let there be one more property boom. I promise I won’t piss it all away this time.” The mugs have been around for at least a decade, but the plea hasn’t dated. We all hope to fix our roofs while the sun shines, even if we all end up struggling with sodden tarpaulin in a downpour.
Today, our industry faces numerous challenges – to the extent that it might feel as if things couldn’t get worse. That view, of course, is risky in itself.
The latest news in the banking sector – in particular the threat to US banks from real estate lending, among other exposures – does little to calm the nerves.
But I’m not here to point out that things can always get worse, only to argue that we must keep on fixing roofs come rain or shine.”
Lem Bingley – Editor of Property Week.