- Location
- somerset
l don't think any party can easily sort this recession out, they are all a bunch of muppets. Its a case of deciding who is the least useless.It's going to get messy I think. In preparation we've fixed two largish loans back in March before rates rose so sitting pretty now at under 4% total rate. We put off a cottage renovation for 18 months but just starting it now as materials have come back a bit and we now have tradesmen looking for work back at realistic rates. We ordered a kitchen and has now dropped by 30% in price since a year ago and instead of being an 8 month wait is now only 6 weeks. We've plumbed the houses on the farm into a straw boiler so have stopped buying kerosene and just using straw out the fields. Got a house rented in a local town that has gone up by £100k in 6 years so probably going to sell it over the next few weeks as my gut feeling is house prices are going to collapse by Q1 in 2023. Talking to our bank last week and they won't now lend a business money to buy domestic property to rent out. Happy to give a personal montage though. Got land lined up to rent out for potatoes and possibly carrots as well as some maize for AD. Ws going to change the loader and buy anther used tractor but we've shelved both those ideas as well. Talking to a local dealer about both those items they said things had cooled off a bit. Lead times on new stuff is still mad but they have noticed a drop in interest of both new and used equipment over the last few weeks. Interestingly they mentioned a very large outfit who I know farm about 6000 ac as well as run a big contracting outfit specialising in AD work and they normally are replacing stuff regularly but have decided to run stuff out of warranty and take the risk instead of changing and staying on the never ending finance treadmill. I just feel things are going to take a turn for the worst unless we get a new government which may just stall it a bit. I hate to say this but I think if we had an election I would be voting labour as I think they at the moment would do a better job than the current bunch who quite frankly are a disaster under Boris. Even if Boris went I don't think they can turn it around.