TPP269: How The Economic Machine Works - A Summary

The Property Podcast

Rob Bence & Rob Dix

News, Education, Business, Investing, Business News

4.8 • 2K Ratings

🗓️ 10 May 2018

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

When investing in property, understanding how the economy works is just as important to your long term success as finding your target area, gaining finance or doing building work. And few people understand how the economy works better than Ray Dalio. Among numerous other things, Ray is a billionaire investor, hedge fund manager and philanthropist. He’s also the creator of the absolutely brilliant and essential video “How The Economic Machine Works” (it’s also really worthwhile checking out Ray’s Youtube page too!). We can’t recommend this video enough. We strongly urge everyone to check it out. It’s only 30 minutes, but could really help you for years to come. In this episode, we summarise Ray’s thoughts and illustrate how they apply to property investment. NEWS THIS WEEK In the news this week, it appears that our predictions continue to come to fruition. Central London property prices are falling. While £600,000 off a home in Mayfair may seem like a drop in the ocean, it’s that drop that’s the beginning of the ripple effect. You can find out more here. JOIN THE CONVERSATION OVER IN THE FORUM Share your stories with us - Join the conversation in the forum. IF YOU ENJOYED THE PROPERTY PODCAST, PLEASE LEAVE A REVIEW ON ITUNES Reviews are really important in helping other people to find the show, so by way of thanks we read out every single review we receive on air. If you’d like to hear your name on the show, leave us a review on iTunes here. Not sure how to leave a review? This video shows you how to review and subscribe on iTunes. See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Hey everyone Rob B here with Rob D and you are listening to episode 269 of the
0:06.8	Property Podcast this week we've got an awesome episode and it's awesome because we're
0:11.2	joined sort of by Ray Dalio and we're going to be using the knowledge of Ray to
0:16.0	ambitiously explain to you exactly how the economic machine works. where every Thursday morning without fail property investors come together to be informed and inspired.
0:35.0	Now importantly property investment doesn't happen in a vacuum.
0:38.0	You can be a brilliant landlord, a fantastic negotiator, a dab hand at a refurb,
0:42.0	but if you don't understand the economic context that we're operating in,
0:45.3	you will not ultimately be anywhere near as successful as you should be.
0:48.6	Luckily, someone far smarter and richer than us has broken all this down and we're going to be
0:53.4	breaking it down even further and tying it back into property and the UK
0:57.1	context so that's coming up in just a sec. So it's time for our new story and it
1:02.0	links in really well this week to the main topic
1:04.2	Rob what have we got? Well the headline is in classic headline form Prime London Woe
1:08.5	Price Falls Slow Sales and Valuation Mark Downs. This comes from a report put out by Coots Bank who I bank with.
1:15.0	No, I don't. They're a private bank for very wealthy people who have obviously very
1:18.6	concerned with Prime London. And the point of including this story isn't just to bash
1:22.4	London a bit as we have done in the past,
1:24.0	but it's because there are some really interesting statistics in here that show just how much
1:27.3	Prime London is struggling, which you might not be aware of if you're not actively
1:30.9	transacting in this market, which chances are you're not. I'll pick
1:33.8	out just a couple. One really striking one is that 53% of Prime London property
1:38.4	is being sold below the asking price. Now that's up from 42% last year which in turn was a big increase on the
	...

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