The Housing Market Will NEVER Be The Same Again…

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The UK housing market is going through interesting times. Will there be a property crash, will interest rates come down for first time buyers and how does the cost of living crisis make a difference? Will the conservatives help with housebuilding targets whilst millennials move more to the political left than previous generations.
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Опубликовано:

29 сен 2024

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Комментарии : 367

@ryanwilliams989 10 месяцев назад

In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.

@BiancaSherly-qt6sb 10 месяцев назад

Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.

@maryHenokNft 10 месяцев назад

I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than $600k within just a year, and I've entrusted my advisor with the task of determining entry and exit points.

@maggysterling33254 10 месяцев назад

@@maryHenokNft Could you kindly provide details about the advisor who supported you? I'm currently 39 and aiming to expand my investment portfolio while also planning for retirement.

@maryHenokNft 10 месяцев назад

Do your homework and choose one that has strategies to help your portfolio grow consistently and steadily. *Camille Alicia Garcia* is responsible for the success of my portfolio, and I believe she possesses the qualifications and expertise to meet your goals.

@TheresaAnderson-kf5xw 10 месяцев назад

Thanks, I just googled her I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.

@craigh9308 Год назад

The inflation-adjusted house price graph should also be adjusted for mortgage rates - that will tell you whether todays prices are high or low by historic standards

@Gjudxdkjyzddhjnr7091 Год назад

Given that credit pays such a large role, it seems to me that the p/e ratio is the most indicative of a bubble averaging 9 across the country. I always point to this when boomers start on about 15% mortgage rates when their p/e was around 2-2.5. His inflation plot looks at the CPI, rather than house prices/salaries, which in my view paints a rosier picture than the reality. We're heading into a recession, inflation is still high and has barely moved from the 10.7% peak

@pipoo1 Год назад

The smoking gun is plummeting levels of home ownership among the population a complete reversal of a socioeconomic trend that lasted all the way through the post war period and accelerated in late 1960s to 1990s via various Government policies such as RTB and MIRAS, MIRAS existed for landlords decades after it had been phased out for private ownership. The political ramifications are huge, home owners naturally tend to be more conservative, this is undoubtedly a factor in millennials being the first generation to not become more politically conservative as they reach middle age.

@mustafamajid7794 Год назад

London does not seem to be effected much i dont see property coming down much

@stevestewart63 Год назад

😂

@rdtheskald Год назад

The issues with houses in UK is nothing but GREED!

@pep20002425 Год назад

The market sets the price are you suggesting that ifyour house, and houses around you went for, let's say 100k are you telling me you would sell for 70-80k because I do not think you would

@rdtheskald Год назад

@@pep20002425 First of all I wouldn't own 2 homes and i wouldn't sell my home. I don't think market sets the price. I think investors do coupled with the lack of supply and affording to increase prices as they please because people have no choice but to fight on housing. Whoever has more money wins. The market is being made it's not some high entity that just happens to houses.

@in3x Год назад

@@rdtheskald no, the market does, why do none of these reports ever want to factor in mass migration as a huge factor driving up prices, particularly in London.

@frankklein4872 Год назад

It is nothing but breed fed by rising migrant population growth. The elite get richer with 80 90 million people.GDP up up up population must go up

@rayclam8079 Год назад

Housing shouldn't be a commodity, it messes up everything.

@ktmidol Год назад

I couldn’t afford a new house coz the prices are premium and few choices in my area. So I bought an old house but the renovation cost me just over 40k. So many things like old wiring, old boiler, gas pipes, re plaster etc.

@svengrot7943 Год назад

Around the world, inflation is causing a number of issues, such as food shortages, diesel and heating fuel shortages, skyrocketing housing costs, and financial market collapse. We could end up being affected by this global financial crisis for a very long time. My main problem, given the current rate of inflation, how can i get the most out of my £280,000 in Roth IRA, which has been stagnant for eons with little to no growth.

@MIchaelGuzman737 Год назад

A strategy to protect against inflation is through the stock market, especially the S&P500 & various index funds that track the S&P500. Investors must know where to put their money and how to distribute it in order to protect it against inflation while still making a profit, especially during a recession.

@roseroland1998 Год назад

Although we are not used to such troubled markets with slight bloodbath, the mass hysteria and panic are understandable given that the US Stock Market had been on its longest bull-run in history. However, there are opportunities hiding around if you know where to look; I've made over $850k in the past 10 months with the help of an Investment Advisor.

@svengrot7943 Год назад

@@roseroland1998 That's actually quite impressive!! I could use some Info on your CFP, I am looking to make a change on my finances this year as well. I am from the Uk.

@roseroland1998 Год назад

@@svengrot7943 Having an advisor is essential for portfolio diversification. My advisor is "JILL MARIE CARROLL" who is easily searchable and has extensive knowledge of the financial markets. She is FINRA and SEC verified.

@svengrot7943 Год назад

Thank you for this wonderful advice. I simply Googled the person's name, discovered her website, and wrote to her outlining my financial market objectives. I hope she gets back to me soon. Gratitude once again.

@ryandaley655 Год назад

Thanks for this Matt well I sold a couple properties in 2020 and I'm waiting for a house crash to happen so I buy cheap. In the meanwhile, I've been looking at stocks as an alt., any idea if it's a good time to buy? I hear people say it's a madhouse and a dead cat bounce right now but on the other hand, I still see and read articles of people pulling over $225k by the weeks in trades, how come?

@jenniferpowell23 Год назад

Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.

@tateoften Год назад

A 2020 Northwestern Mutual study found that 71% of U.S. adults admit their financial planning needs improvement. However, only 29% of Americans work with a financial advisor.

@nabilfreeman Год назад

@Flora Quntinilla let me guess, somebody is soon going to share Yvonne's number using emojis

@AM_o2000 Год назад

If you have to ask, you're in the wrong game.

@gdogg4002 Год назад

Yawn

@stevebender7333 Год назад

Its< natural to see so many investors panic amid a worsening bearish market but it is also important to note that the market situation is nothing new in the crypto world.Several factors are driving negative sentiment in the stock and crypto markets right now including inflation, a shaky stock market, rising interest rates, and recession fears. As a result, bitcoin has dropped significantly from its all-time high, breaking below several key technical levels. As a crypto investor, the current situation might seem bleak. However, there are several tried and tested, expert-suggested investment strategies that can help you weather the current crypto storm. In 2 weeks of shorting and trading with signals directly from Gail Fischer, I have been able to accumulate 11 btc despite the state of the market.

@stevebender7333 Год назад

>тєℓєgяαм Gailfischer>>>>

@Paul-li9hq Год назад

I'm not in the housing market thank God and I never will be because our system is so insane... Other countries have much longer fixed rate terms for mortgages... decades... Not like the uk where you're getting 3 years or so... I'm just not stupid enough to borrow half a million quid... to buy something that isn't actually worth half a million quid: it's only simply a perceived value rather than a bricks and mortar value. And then agree to 25 years of repayments, within which I have to keep renewing and renewing... and have no control over the swings in interest rates and house price values. It's more risky than gambling at a roulette table?

@Ioria89 Год назад

1 bedroom flats in London in zone 3 are ~450k. And these are leasehold. How the hell can I afford to buy anything here?

@stevenhull5025 Год назад

You can't so move like I did instead of moaning about it.

@4R53Hole Год назад

Why don't people leave?

@Ioria89 Год назад

@@4R53Hole family and job 😅

@davejohnston5158 Год назад

The UK government has lured young first time buyers to this point combining direct stimulus to encourage new house building with historically low base interest rates due to the post 2008 need to print more money for bail outs - ensuring gilt repayment costs were kept low. An overnight doubling of mortgage interest rates doesn't happen very often and when it does, it usually kills a housing market where a large part of that market is over-leveraged. Unless the BOE can drop rates down to 2% range the value fall will last until it does. Steep rises in house values lead to house buy to let speculation - much of which will be over-leveraged and prone to forced sell offs - which pulls the values down.

@fanfeck2844 Год назад

There’s not too few homes being built, there’s far too many people in the country

@aceofspades5786 Год назад

The population density in Singapore is 8358 per Km2 , UK is 281 per km2.

@thereap5348 Год назад

looks like brexit worked very well ;) ...considering there is a skill shortage it would be better for the goverment to build public housing

@djjuno106 Год назад

One major thing the government needs too do is stop Chinese investors buying up property in England. In most country’s you need too be a citizen to buy property but in England anyone can buy it which is wrong and inflating prices so we can’t buy them. In the last few months every house I’ve been intrested in buying I’ve found out has been sold to Chinese investors who are over bidding on houses then rent them out. I even enquired about two houses in wales and was told because I’m English I can’t buy it only welsh can,so if wales can do it why can’t England?

@shif06 Год назад

this happened to me as a first time buyer, and I eventually decided to rent until 2024 and see where the market goes. My landlord is from China and brought the house cash to rent it.

@colinl5985 Год назад

Before the Chinese became rich, we English also multiple properties to invest which increased prices. So blaming one nation I don't think is rational here do you?

@SnowofLight Год назад

@@colinl5985 Chinese rich get there by paying their workers pennies, bribes and criminal activities, inflation of their own currency, then come to wash their money in the UK housing market. I hardly think that's a fair comparison.

@The3CrafterZz Год назад

@@colinl5985 🤦‍♂️

@stevenhull5025 Год назад

You must be imagining things if you think everything is being bought by the Chinese.

@kingofthebridge8339 Год назад

Tory has pissed on nation since Cameron beat Gordon Brown. Their policies of austerity means that this is the most expensive country to live in for the crappest return.

@TH3YGXNE Год назад

Been this way since 2017. If I told my American friends to do the same job they do in the UK they would also be in poverty. Just goes to show how poor of a country we are top to bottom

@stevenhull5025 Год назад

You know where the airport is????

@PeteH0121 Год назад

Well you must be so happy now that the Conservative party is just as Socialist as the Labour party. Now the economy will be in crisis whichever government is leaving office - not just when the Labour party is leaving. Gordon Brown, ah yes, the guy who destroyed the pensions industry for the average worker, which ironically, will affect YOU more than those who were stupid enough to vote him and Tony Bliar into office. Gordon will of course, will have his gold plated Prime-Ministerial pension to help him struggle along.

@TaurusTrio Год назад

I think we’re going to get to the point where we have generational mortgages whereby you take out your mortgage and your adult children/trustee (if you die before they’re 18) will have the option of taking it on or not.

@JohnSmith-ei2pz Год назад

Yes a good way for people to own property. Why live, just to pay bills?

@TeaPea111 Год назад

I also wonder if it’s not quite that complicated. Simply a case of the grass looking greener. Those of old enough to remember life under a labour government, vs the young who’ve only ever experienced life under the conservatives. People always want change, and if you can only remember one party being in power in your adult life, then 🤷🏻‍♂️. To me that’s a likely explanation or at least a contributing factor.

@lukejeffery6109 Год назад

We are not building to few houses we are importing too many people. 10 million immigrants in the last twenty years is why you can’t buy a house, why the nhs is in disarray why the welfare burden and crime is so high and why there are less opportunities for Brits.

@masofo4769 Год назад

I'm glad there's tons of young people with nowhere to live and greedy landlords having 4/5 houses ! It's not a sport ! It's so easy to become homeless in this country these days it's disgusting

@r0sc0b Год назад

You mention millenials aren't having as many children yet our population is expanding, I wonder why that is? Could it be the same reason that our NHS & other social services are struggling despite getting ever increasing amounts of money? Perhaps, if our population wasn't expanding so fast, demand would fall which would have a knock on effect on house prices, making it more affordable for first time buyers. I know how millenials can fix it! Vote for the party that instigated these changes in the first place, they can't be any worse than the last time they were in government can they?

@stevenhull5025 Год назад

Maybe the OBESITY problem has something to do with it.

@oysteroid4030 Год назад

The housing market crash . Sunak will crash together .

@davidbridge5652 Год назад

Too many people using houses as an investment plus people owning lots of houses to rent.

@DragonXDrei Год назад

I think millennials and the next gens are screwed because they ALL think they are entitled. I have been trying to hire someone for a role for a year, and the calibres of 2000 and 2010 are long gone. They all want high salaries for as little work as possible.

@StoicEye Год назад

Honestly, the housing market in the UK need to fall right through the bottom. House to earnings multiples are insane and prove that hard work simply does not pay, at least in this country. As for the Conservative party, they're doomed. Ten years ago you'd have millennials participating in conservative youth societies and university groups. Now, there are very few insults worst to a millennial then being called a Tory and given the parties policies during their premiership its not exactly hard to guess why. Gen Z that's now coming age are not gonna buck this trend.

@alexchancock Год назад

Good cooment. The baby boomers got emancipation from the working class handed to them on a plate. Now we have peeps with masters degrees who can't buy a flat in the worst part of town.

@stevenhull5025 Год назад

Home owners kids are not going to be happy if that happens. There would be NO inheritance monies coming their way.

@rdtheskald Год назад

I've lost all faith in humanity. It feels like a great time for an asteroid apocalypse!

@fanfeck2844 Год назад

Could happen yet if putin keeps losing

@rdtheskald Год назад

@@fanfeck2844 That's a nuclear apocalypse. not an asteroid one. Nuclear is toxic

@fanfeck2844 Год назад

@@rdtheskald dead is dead

@nicky_nike Год назад

It could be the cheaper option

@Rolo3939 Год назад

Save the universe

@everythingtechnew7400 Год назад

The reason being is those who enjoyed things like a free university education & a given home ownership was a right of passage felt free to deny the next generation. It’s hardly no surprise when the generation who enjoyed all those benefits are now buying second homes & investing rental property when the generation after them are renting off them paying hyper expensive rentals while unable to save a mortgage deposit let alone be approved. That’s all while trying to pay down mortgage size student debts. So it’s no wonder the next generation are moving more left field .

@ty194 Год назад

This isn't true at all. You must be REALLY young.

@everythingtechnew7400 Год назад

@@ty194 I answered someone who obviously has now deleted their comment which has in turn removed my reply. I enjoyed all the things this generation took for granted like free education & home ownership. Unlike those greedy ones I don’t mind giving back to help the next generation enjoy the same advantages given to me. You sound really immature

@ty194 Год назад

@@everythingtechnew7400 You blaming pensioners and not consecutive government policies, reckless banking, vested interests as well as millennial/gen z culture and decision making for making it more difficult to buy a property is beyond immature.

@everythingtechnew7400 Год назад

@@ty194 Errr because the average age of a Conservative voter is boomer +. You do understand the topic of this replies is why new generation of older voters are voting more left field. Your immaturity is staggering.

@ty194 Год назад

@@everythingtechnew7400 And where did Labour voting get you when it came to the 2008 crash? Stop projecting.

@patinho5589 Год назад

I’m happy to spend 80% of my take home pay on mortgage. That’s the only think I want to pay for . Wish I could be lent more to buy a house! I’m not at risk at all. I always felt this since I first looked into buying a house 20 years ago. I don’t drink. I don’t spend on entertainments.. and I don’t care about foreign holidays (or I didn’t back then). Hate the stupid system which won’t help me buy a house. Then other stuff happened and at age 44 I still don’t own a home.

@shabbos-goy9407 Год назад

You should have bought 20 years ago. Prices have tripled since then.

@patinho5589 Год назад

@@shabbos-goy9407 never had the deposit money. Career up and down. Then ended up buying the property my dad lives in on paper whilst he pays for it. Ruined my chances of first time buyer schemes.

@TTharvest Год назад

@@patinho5589 you can ask your dad to transfer ownership of the property to you by you taking on the mortgage balance. A solicitor can provide further advice on this.

@patinho5589 Год назад

@@TTharvest I do have ownership of it. That’s the problem. I wish I didn’t. The mortgage is in my name. So if I try to buy my own house I get extra stamp duty, and can’t do first time buyer schemes. It has nipped any enthusiasm I get about home owning and schemes in the bud all the time.

@TTharvest Год назад

@@patinho5589 I now get your drift. That is a difficult one and I do feel for you.

@kalliste23 Год назад

House prices in Cambridge aren't crashing, quite the reverse, the Hong Kong Chinese are buying up whatever comes on the market. There are plenty of foreign buyers to take up the slack in the popular parts of country. Only the places in poor locations that were bought for rental or simply because they were relatively cheap are gonig to crash. The Sout East will continue to overheat.

@JestersDeadUK Год назад

less immigration, help the NHS and house builders

@user-gz6tx6yp3v Год назад

I work as a consultant to house builders. I have many clients, 2 quite well known. The biggest problems we face are land, the cost of that land and the significant losses in planning consultation costs on land that we end up failing completely in achieving permission to a point where the site is not even viable. The councils hold a lot of this responsibility. Then there is the cost of construction. I think it would shock people how little profit there is in house building from land, unless you are a high volume house builder it is tough. So people call a housing crash I can say, that demand in the next 2 years whatever happens is going to far outpace the supply of new homes because housing starts are being cancelled or on hold until a profit cna be made. No one is going to carry on building with a projected loss.

@christieomojo Год назад

I completely agree the planning permission/council regs play a huge part and Tory heartlands don't want new developments near them. Never ending cycle of low supply.

@KerrBearrxo Год назад

You are 100% correct!

@bertibear1300 Год назад

The banks have no money, U.K. is bankrupt so who will lend ?

@MrFrobbo Год назад

Spot on, the world seems to be blaming supply, when its demand causing the key issues and the elephant in the room very few want to address, if the birth rate is plummeting, where's the demand coming from...🛶

@andrewkelly8696 Год назад

Housing has become a vehicle for a highly leveraged debt based financial stream of money velocity which supports UK’s GDP with internal spending and the illusion that credit is wealth, the free money experiment is over which exposes the debt vacuum under over values asset classes houses being one of them. This is just the beginning of a price market value adjustment.

@stevefaust3532 Год назад

Recently had a mortgage offer pulled. Was originally quoted £1650pm for a Mortgage of £385K on current rates, now they're coming back at £2,300. over 50% of my monthly wages. At which point do people say to the mortgage lenders and sellers "Enough is enough".

@janny6299 Год назад

That’s actually more than most peoples full wage after tax mate, this country is so backwards. Only going one way as well..

@stevefaust3532 Год назад

@@janny6299 Yep! Also in the video he mentioned that banks perform stress tests to ensure affordability and protecting us from negative equity. Let it be known that Banks never do anything that protects "us" the consumer, they've done it to protect themselves incase the borrower defaults on their mortgage, that's all it is.

@wild4fp Год назад

It sounds too much for a house yor looking at.

@kevocos Год назад

Irrespective of short term corrections this year and in subsequent years, long term property prices are only going up. People focusing on micro scale fluctuations are blind to the macro scale and they will invariably lose out in long term long.

@Vonklieve Год назад

Perhaps the government should control migration? That way the housing crisis would ease...Supply and demand. Also the housing built is unaffordable in the main is intended for purchase rather than social housing.

@stevenhull5025 Год назад

You have it ALL wrong. There are literally thousands of properties in the UK empty. The problem is JOBS. These areas desperately require investment in infrastructure so jobs can be created. Once jobs are available people will move to those areas. It's pure common sense but those who rule us don't seem to have any.

@tim.jenkins75 Год назад

300,000 honk kongers coming here with average of 800K each do the maths.... the housing market just needed an internal check or the market would run away..... come on, use ya brain ... uk is fine always will be.. its the most managed bit of land on the planet !!!

@nicky_nike Год назад

we have 2 HK families here, both renting.

@waynesalvidge8244 Год назад

My first mortgage in 2004 had a interest of 6% so wouldn’t say we have high interest yet. Just because we’ve had very low rates and everyone’s taken advantage and over leveraged themselves. Why have a £40k car if you can’t afford a house!

@matthewhunty Год назад

If you can buy a property in an area where the workforce is expanding. Same as last time.

@tracktimevideos5164 Год назад

We can keep hoping for a house price crash but it never happens. Can't even find a 3 bed house around here for less than 600k. Supply and demand unfortunately and the UK population only ever growsn

@andrewwright. Год назад

it's not enough House....it's too many people. only reason government want people to come here is to pay tax....pay tax.... government win..

@JG-fg1ye Год назад

Indeed which is why current supply will rocket in value, saw this coming 10 years ago with all the boat people arriving, they have to live somewhere and that can’t be hotels forever

@temphtempg8819 Год назад

"The Economist believes..." The Economist couldn't find its own a**e in the dark with a flashlight, a map and written directions

@tinaclarke5498 Год назад

We have plenty of homes.....we have too much immigration. If this issue is fixed, that would solve the problem.

@freddiemoses467 Год назад

One problem - the Conservative are not conservative! I'm voting reform party next election

@F22ERaptor Год назад

One point you haven't spoken of is the fact that many properties are purchased by Hedge Funds, Foreign Investors and Companies like BlackRock and Goldmann Sachs. They effectively price out buyers as they can get bigger loans. The clue is in the house prices - there are to many homes that are in the million pound bracket. That is simply too out of reach for most of citizens - how many millionaires are there in this country? There are studio flats going for 700k. No single person will pay for that - but a Hedge Fund will. They have been putting money into the housing market with the speculation that the house price will increase later. The houses/flats are seen as a secure money box. There are so many properties that are empty and whenever they are built, they are quickly bought up by investors. In a bid a family can be maxed out and the investor will simply get a higher loan ot out-bid them. It's easy for an investor to get an extra 10k but a family will find that impossible. UK, NZ, Canada and Australia are experiencing this problem. But you are correct that somethings got to give - this is unsustainable in the long term.

@ianmacree346 Год назад

Since the last census the UK population has increased by over 8 million, last year alone there was over 500,000 legal immigrants and around 70,000 illegal immigrants who came into the country. I don't know how many houses have been built in the last 10 years but it's a fraction of that figure, And like everything else prices are based on supply and demand. Adults have 3 choices when it comes to housing, either live with your parents, rent or buy. You won't get a council house, and the government is making it very difficult for landlords with lots of expensive rules and regulations that will just be passed onto the tenant, so renting will become an even more expensive thing to do.. because of this personally I cannot see a housing price crash at all, yes of course prices will slow down but a crash....no I don't think so....

@4R53Hole Год назад

Squatting. Communal living.

@banzai385 Год назад

504000 immigrants in one year , that would take building 2 new towns the size of Oxford, and Cambridge assuming 2 per house to accommodate them !

@jimsturgis6157 Год назад

A very interesting presentation and well researched. As a grammatical geek just give a consideration to using "less" less and "fewer" more often. Sorry.

@g.p616 Год назад

This man just spent 10 mins without mentioning immigration. Last year the government gave out well over 500,000 visas to reside in the UK … that’s net migration of half a million more people living in this country than last year… Thats the major impact on the price of property and he spent two words “growing population” addressing its impact. Disappointing🥴.

@CreuzaSantoscomamorcomunidade Год назад

Maybe with the crash it will be easier to buy a house and afford it. It's a shame. The UK have the highest mortgage price. Only rich people can buy a house. Really a shame and with renting goes up all the time, less we can save for a deposit or nothing.

@VictoryHand Год назад

As someone who works for a housebuilder it's not that we don't want to build more houses. We would make more money from building more houses. The problem is all the restrictions with getting planning applications approved to build on all the land we have. It can take 10 years some times to get a peace of land we have to a point where the local authority will allow us to start building.

@Kelsdoggy Год назад

There are enough houses for everyone.. just too few people own too many houses. Time tax multi home owners. All of them. That’s how you reduce prices and spread the wealth and stop making a market from the poorest that can’t afford to buy.

@colinl5985 Год назад

Have not recovered? Ok maybe northern UK but areas I'm familiar with have far exceed prices pre 2008 prices.

@MattBrighton Год назад

Correct - when you look at today's prices including inflation. Remove inflation from those totals and it looks at 'real' house prices outside of the 'value' of money over time caused by inflation.

@4R53Hole Год назад

I am leaving the country. First I might live in a tent in a field or cave by the beach. Screw bankers and landlords.

@AlvinWillistonDavis Год назад

In addition the tories would need to equalise the tax burden from corporations and high earners. Also they would need to minimise the sheer amount of corruption and cronyism

@tonyburgessbonnie2395 Год назад

To much drug money in the UK inflation means your money is no good in the bank so safer in property houses are still selling for over asking price

@twig3288 Год назад

The government should not “step in” they should step out. The government is the problem.

@JaguarInfinity Год назад

The thing that makes me think the market can't completely crash is how much it costs to build a house. Regardless of tactics by the housing companies there is a fixed floor when it comes to building a house, the land, materials and labour to build it. As soon as the cost of a house falls to below that price they stop being built, supply and demand rules kick in, prices go back up. That puts a floor on how low the market will go and considering new builds already go for a bit of a premium I don't think it can be much lower than the 10% forecast. Even if it did somehow go lower, it wouldn't stay there for very long.

@raymondwebb4179 Год назад

You are correct , but builders in my area have gone really greedy,450 for a brickyard is just stupid greed?

@MrSuperG Год назад

Yeah if anything houses will become harder to own and run. That’s why the governments want you to ask them for help instead of you owning

@Paul-zu2he Год назад

I think the rises from the last 2 years will come off...but not much more. That is of course a useful amount. Look at it this way, the amount of housing and the amount of people in the country hasn't really changed since 2019 and yet prices are 20% higher. It's only COVID madness and free money that has pushed the prices up. When the free money falls out of the economy and people forget COVID, prices will come down to where they were. Yes theres always demand in the system and yes theres always a general shortage of housing, but nowhere near enough to support the current prices.

@FreaksSpeaks Год назад

Thing is when you have to sell, you have to sell whatever the price is.

@stuctr Год назад

Most of the issue is a house is actually mostly in the groundworks and building 4 or 5 bedroom houses actually don't cost much more to build then a 2 or 3 bed but when they are done the price difference is massive hence why all these new housing estates being built have hardly any small properties

@HodgsonKurt Год назад

It's not even just conservatives it's the whole lot of them.

@DamienTalksMoney Год назад

Enjoying your content recently Matt!

@thomascollins4291 Год назад

I am well off getting old will never work again but would not vote Tory even if they paid me

@Krisowy Год назад

The few national property's developers keep it this way and the government lets them. With them keeping new builds to minimum they can keep gauging prices, and expensive properties keep everyone in debt/working for the rest of their lives.

@Whalewraith Год назад

Well, the way I figure it is they ain't building anymore land.

@giovanniparracino4104 Год назад

Where are you going to build new houses? All the green land is disappearing

@toonarmy8524 Год назад

it doesnt want to be the same again no one can afford a house now where one earner could get one easily 30 years ago.

@toadinthehole8085 Год назад

A house my stepfather bought for £95.000 on a truck driver wage is now £400.000 so if I was.to.but that same house today I would need to drive four truck driving jobs to do it today . Can u see that is a complete mess of a system..an anyone who paid stupid money for they house is to blame you people drove the house prices to this dumb ass hike we see today.

@AB-hu2uw Год назад

they want to become slaves to their house let them

@counterleo Год назад

truck drivers jobs pay more than they used to, and also £95k had more purchasing power than it has today. in today's money that might be worth £200k. granted that's still a long way to 400k but compare what's comparable

@kd3446 Год назад

They more money in their own home but also more debt as a consequence….

@savvysurveyor5318 Год назад

A very well researched piece. You ‘hit the nail on the head’ on the many points raised. Calling out the various governments and lack of investment in supply and how policies don’t support this need. Well done 👍🏽

@cadraf Год назад

In my country me and my wife we bought a house together and we were paying around 15% from our salary(2 salaries together). With the rise of euribor we went to around 35% of out salary… it doesn’t seem a lot but it is

@marveyblamonto Год назад

I bet when rates get slashed 2024 we get a huge bull run.

@jameshazzard9403 Год назад

Two things that make me sceptical of this analysis: firstly, the suggestion that house prices have a simple demand vs supply relationship, secondly, not taking mortgage rates into account when looking at inflation-adjusted prices.

@MattBrighton Год назад

Could also apply income ratio to that second point as well for even more content. Valid points

@greggreg7400 Год назад

I've been waiting for my flat to be completed since last July when they said it would be ready.... I viewed it in September to see the progress and no work had been done in 3 months. I knew at this point it wouldn't be completed in time for the help to buy scheme to still be available...Althought they insisted it would and every month put the completing date to the end of the following month. They then said that it would 100% be complete by the 31st of December for the HTB cut off.... as soon as the HTB scheme extended the cut off so did developers, AND now here we are at the back end of January and they have now informed me that the property will not be a blessing to complete and the scheme will end so now i'm unable to continue with the purchase of which I had a mortgage offer on for 2.04% There is absolutely ZERO chance I will be able to afford to buy now, not anything or anywhere id actually like to live anyway and not without having a interest rate at 5% oh well

@Nobumblegumforyou Год назад

Prices will be correct as it's simply unaffordable for many. Not a bad thing to be taking out a mortgage in 1-2 years on a far cheaper property in the long run.

@paulmessenger9836 Год назад

Property is a great asset to have price goes down who cares rent goes up population increases builders stop building difference is that today's people have the internet and we all know what's going to happen. I understand you young bucks want a price of the pie but just work harder and longer and lower your expectations.

@raymondwebb4179 Год назад

Sorry the expected removal of ISA tax incentives in the next budget will make people look for alternatives, that will be houses, forcing prices up giving owners the feel good factor! And so the vote Tory again?

@aceofspades5786 Год назад

and i hear pension tax relief/allowance. We are all now paying for the post brexit £40BN shortfall in tax revenue.

@raymondwebb4179 Год назад

@@aceofspades5786 don’t get me going on tax and pensions, Gordon brown stopped the tax credits on dividends tax on money purchase schemes To help offset the tax not payed on final salary schemes ,money purchase schemes were used by people in ordinary jobs, my pension adviser told me it cost thousands?

@yevyerm Год назад

Appreciate your analysis. I think this is the most interesting graph - house prices adjusted for inflation - I've ever seen. That explain a lot actually. I would expect that with an inflation rate population income to keep up with the current prices...

@MrGlobalcarrot Год назад

Great video but I truly believe that Millennials and Gen Z are so disenfranchised that It will affect labour and conservatives. We despise the institutions which have taken everything from us and refuse to give us a break.

@alexchancock Год назад

True. 👍

@korpiz Год назад

It’s pretty sad having spend years paying of a mortgage as much as possible, then suddenly the value of home plummets and all that was wasted.

@johnseabrook1703 Год назад

You waste more money, renting.

@nicky_nike Год назад

It's a boom and bust market. This is the fourth crash I have seen as a home owner. There should be regulation. My first three mortgages were limited to 3 times wages. It worked then and can work now and would keep home ownership far more affordable.

@billyward349 Год назад

The great sunak rip off

@abelardoruiz5544 Год назад

Is a HUGE mistake give the eother owners of land the right to vote out new constructions in private land.. like California... where people can vote to shut down a development.

@1brenmaster Год назад

Same issues in Ireland. Different government. Only common denominator is builder's and Banks.

@hughgallagher Год назад

Why on earth buy now when the big lenders and government are saying "about -10%"? They are the main stakeholders in that NOT happening so you can probably double that forecast for something more realistic. Very risky to buy now. At least wait and see if they are wrong and it's more than a 10% drop

@ihshaikh Год назад

You completely ignored the cost of building new houses today…… the amount of red tape at local govt level and the costs associated with that simply can’t be ignored

@MinkieWinkle Год назад

less conservative party voters does not mean people are less conservative. Just means they are not voting for the conservative PARTY. Millions have moved to reform

@janasiguenza1545 Год назад

Yes the system of housing marketing is the most inhumane market. We are humans we deserve to have free homes. We can have free homes. Un UK we are less than 68 millions if each have the right for 1 million we can have a home. Politicians spend millions in things that we really we don’t need as a home that we really need everyone. This is how politicians spend our money in things that we really need. Change the mindset and change the world for better

@sonicwingnut Год назад

We were temporarily living with parents when all this started so on the plus side got a bigger deposit, but on the down side missed the boat on locking in a better interest rate. We found a nice house now but were offered a 5.29% interest rate at best. That said we also negotiated about 8% off the asking price with little effort. With rates dropping again our broker asked on our behalf and the lender said they could move us onto a better deal no problem. The same product we're signed up for is now at 4.6% and would save us something like £50 a month off our repayments. It may drop further before we close. So if you're about to buy then do ask the lender to see if you can get on a lower rate! Also the historic price of our house is weird so regional stuff is worth looking at.. it's a 3 bedroom semi with garden for £140k, but in 2020 it sold for £125k.. BUT in 2008 it sold for £131k, so like the video mentions, a lot of places haven't actually recovered from the previous crash.

@oktfg Год назад

Easy to claim “Housebuilders” are villains squeezing supply. Reality is more nuanced. House builders would love to profit and build more houses, unfortunately building materials are in short supply - reality is the U.K. needs to import bricks to meet current demand. Also, material supply schedules are now longer than the actual time taken to build a house - squeezing supply further causing builder to slow down construction. Redrow for example take approximately 18-20 weeks to complete a heritage range property. Ibstock their lead brick supplier currently have up 32week deliver dates on brick types Redrow uses - changing brick type would require a planning amendment which could take 8-12 weeks to pass Planners. The domestic supply chain is unable to build more than 175,000 houses per year.

@Rob-fn1kp Год назад

Clickbait much?

@gregprocter765 Год назад

Aye that spike from 2003-2008 will happen again theres been a load deregulation with banking lately so yes looks like we will repeat 2008 crisis. Not entirely sure if they can print enough money to fix it this time though.

@tomgl6684 Год назад

SPOILER: They're going to pick B.

@gdogg4002 Год назад

Has this guy not heard of the great reset. You will own nothing and be happy apparently

@danielgripton473 Год назад

Last few years about 3000 houses have been built round my way, but now the industry is slowing down an it’s impacting the aggregate industry

@jonsnow6741 Год назад

Thinks many 1st time buyers are delusional and are not prepared to work their way up . They want new properties and will even join a daft scheme to get it .

@befree9579 Год назад

yup exactly

@jamescoghlan1711 Год назад

the tories will keep blowing the bubble up and hope that it pops in the hands of Labour when they take office.

@Plaganomica Год назад

I agree I think in the west midlands there is so much demand that I am feeling there is a bounce back already. I am feeling if interest rates began to tail off the FOMO in the market will ramp prices up crazy high. There is also gonna be more people with larger deposits if they have been saving via High interest accounts.

@versaceviper9798 Год назад

I live in the West Midlands, and the new build houses here are selling within weeks! Despite the premium prices. Gives me some hope considering I’ll be selling up later this year to downsize.

@Plaganomica Год назад

@@versaceviper9798 Yea man plenty of demand here, XO till we overdose.

@versaceviper9798 Год назад

@@Plaganomica MY MAN!

@mkoschara Год назад

People older than you think it's going to be worse than you think.

@nicky_nike Год назад

Reference the old supply and demand argument. Mortgage rates ramp up and all of a sudden many first time buyers, the bedrock of the market, have their affordability severely cut back. So now the demand has greatly reduced as they can simply not afford to buy, which leads to an oversupply and hence price correction. You show the HousePriceCrash graph correcting price with inflation, yet in your other video you show the graph of earnings ratio, which shows prices are way up in affordability terms. Anyways, my maths, like the reduction in borrowing capability due to increased interest rates, tell me we will see a 50% drop in prices when the bank rate hits 5% plus, as it must to combat inflation. We are at the end of an economic era that started in 1970, the last balance of payments for the UK, and we have been borrowing more and more, plus QE to the point we are bust, broken and crashing into the buffers. We cannot look at the house market on its own but must row-in the economic state of western countries and the sh ! t state of the banks and their liquidity problems. It's all happening again like in 2008. I don't see modern buyers better stress tested than the 1990s buyers, again that earnings ratio comes into play, and the drop then was 33% (my house dropped from 125k new build to 82k in four years). Have a look at the latest RICS report. It's carnage. Take a look, it's their Dec report.

@counterleo Год назад

I'm just gonna go to NI and go for 60% LTV as a 1st time buyer lol

@paulgates4083 Год назад

didnt know mezut ozil knew so much about houses.

@terryj50 Год назад

Hopefully this is true will be nice to buy up a lot of homes although cannot see it. One for each of my kids would be good.

@cameronprice9848 Год назад

Don’t forget the price of electric and gas 😅😅

@stormcup2920 Год назад

Today's conservatives are yesterdays liberals.....

@tonycullen5415 Год назад

Im surprised you never mentioned the promised government tax payer support for people struggling to pay their mortgages due to the interest rate increases which was buried in Jeremy Hunts last budget paper. Please check it out and do a video on it please.

@Gjudxdkjyzddhjnr7091 Год назад

OK Boomer! The rallying cry for a generation