HOW DO YOU FEEL ABOUT PENSIONS?
“I wouldn’t recommend anyone take out a pension; much better to invest in bricks and mortar.”
SO PROPERTY IS YOUR MAIN METHOD OF INVESTING?
“Yes. I’ve owned my current house, a six-bedroom detached property, for 25 years. I paid £47,000 and it’s now worth around £750,000. Buying property has always been my best form of investment. After doing them up, often a member of my family would take them on or I’d sell for a good profit and reinvest in a new place.”
HAVE YOU EVER INVESTED IN SHARES?
“Yes, but I’ve got rid of them all and wouldn’t buy again. Years ago, I knew there would be a financial crash. People who didn’t have money were being lent loads, getting 100pc mortgages with no real hope of paying anything back; it was a ticking time bomb. That’s when I decided to get rid of all my investments – mostly shares – and turn them into cash before investing in property.”
– from ‘Adrian Mole author Sue Townsend talks money’, Richard Webber, The Telegraph, 1 Jul 2012
The global bubble in RE will only be over when people have been taught to doubt recently ingrained ‘truisms’ about ‘bricks and mortar’.