Caution was the main theme of BROSAF HOLDINGS Managing Director, Spencer Sheridan’s speech today at the City Fringe Property Forum. Sheridan, a serial optimist, had this to say “with the political uncertainty currently engulfing our country and a very strong possibility of a Marxist government, you can fully understand the non-committal attitude of many investors and banks”. The seasoned property investor went on “throw in the fact that the market, particularly London, has been over heated for some time now and was crying out for readjustment – I believe we are in the embryonic stages of either a downturn or sustained stagnation”. It was not all doom a gloom however, as the 50 year old concluded “the pound is still weak, and likely to get weaker, plus if the downturn evolves in a crash then cash will be king and there will be many opportunities”.