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Economic conditions
In today’s Indie there is a quote by Warren Buffet, the richest man I the world. I think it worth reporting in full, not because he is rich, but because he has the longest history of successful investing.
"I haven’t the faintest idea where the stock market will be next week, next month, or next year. We are looking for businesses that are properly priced. If you are right about that, the stock prices will take care of themselves."
If it is true for shares, then it is also true of property.
Two questions then emerge. Are we in a period where ‘proper prices’ exist and can we appraise deals to establish the ‘proper price’?
Buffet’s maxim is to buy at the right price, do not follow the herd and invest for the long term. This is equally true for investing in property.
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