As we hopefully emerge from one of the worst recessions in living memory, we can reflect on the circumstances we find ourselves in. As my dear old mum used to tell me, ‘Both good and bad experiences are valuable, if we learn from both of them’.
One thing is for sure, it’s a lot easier looking back and we can all be wise with 20/20 hindsight. I was asked the other day what I thought was the greatest barrier to increasing demand. Of course there are many factors which I could have picked. The restrictions on borrowing have undoubtedly had a serious effect on all markets. The housing market ground to halt, people could not get mortgages, house builders went into hibernation and businesses put investment on full stop.
The issue I chose is invisible, untouchable, immeasurable (despite constant attempts to do so) and yet it affects us all, every day and in every way. In a word, it’s CONFIDENCE.
What is it that increases or decreases confidence? It can be a combination of things. People can inspire confidence, information can do the trick, and even the weather has been cited as an agent inspiring confidence.
Whatever the cause, confidence has the power to inspire change and it can rise and fall with breathtaking speed. I can feel increasing confidence with every day and that has to be what we in the trade call, ‘a good thing.’
Over to you!