Homeowners have been dealing with their own unique problems since the start of the economic crisis.  Homeowners have dealt with falling property values, declining equity, negative equity, the lack of ability to remortgage and other financial difficulties unique to home ownership in this economy.  Any forecasts or outlooks that portray an optimistic outlook are welcomed by those suffering the worst and perhaps on the verge of repossession of their property.

John Lewis Partnership has issued a viewpoint that is indeed optimistic.  The chairman, Charlie Mayfield, has named 2011 as “the toughest in terms of the consumer impact on the market that we have seen since the start of the downturn.”  The fact that the worst may be behind us is indeed welcomed.  The viewpoint of 2012 is that the year “will still remain challenging and difficult in some respects, we are going to see during the course of this year some easing of the conditions we have seen over the last 12-18 months.”

He added, “There will be some further pressures from things like oil prices on the horizon, [but] it seems to me that the risks we faced six months ago look slightly less grave than they did back then.  We will see some small improvement in conditions. I would not say I’m optimistic; I would say cautiously optimistic, but I would hope we will see the trajectory of the UK economy shifting from one of decline to slow growth.”

The retail insight from John Lewis Partnership is unique in giving a look at the current condition of consumer spending from the middle class income makers. 

Homeowners have recently been encouraged to take advantage of cheap remortgage deals on the market as lenders are raising their standard variable rate and replacing their lowest remortgage offerings with slightly higher deals.  The optimistic tone of those in the business industry and especially retail will be seen as a good indication that consumers are becoming more optimistic which will mean homeowners may adopt the same hopeful outlook.