Читать книгу Property Entrepreneur - Wong Vincent - Страница 13

In the 1980s and 1990s, private ownership of property sky-rocketed. The rise of the “professional landlord” was a hot topic, and lenders even introduced the “buy-to-let” mortgage in 1996. Being in the property business as all this was happening, as investors were snapping up properties left, right and centre, must have been like seeing a game of Monopoly come to life! The recession of the early 1990s only gave savvy investors the ability to snap up more properties at reduced prices.

New Labour capitalized on the economic strength of Conservative policies while promising better management of spending. When Tony Blair took over as Prime Minister in 1997, the country was already fast climbing out of recession – indeed the economy grew fairly steadily until the big crash that began at the end of 2007, which was precipitated by the undermining of real assets by the subprime mortgage market.