Case Studies; WMS Housing Market Crash Ep.3
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In this third episode in the mini-series looking at the question everyone is asking;
\\n‘Is the property market going to crash?’
\\nShaz reviews the economic cycle and what has happened previously when the market has crashed, sharing not only the facts but his expert opinion based on the information and data available. This is a great opportunity to not only hear the key facts in one place but also the views of someone with considerable experience and expertise in the property market.
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KEY TAKEAWAYS
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- In the 2008 recession, the average value of UK property fell by 20% and it took the next 6 years for values to reach pre-crash levels \\n
- Prior to the crash 100% mortgages were commonplace. \\n
- Along with vendor paid deposits. \\n
- In the late eighties, there was a housing market crash alongside a recession. \\n
- Issues with joining ERM saw interest rates raised to 15% \\n
- House prices fell 36% at that time with over a million people in negative equity. \\n
- Lifting the restrictions on personal lending helped to bring things to an end. \\n
- Depending on if we can find a vaccine there will be a lowering of house prices in the first quarter of next year. \\n
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BEST MOMENTS
\\n‘The house price to income ratio was 7.16 in 2007 and fell to 6.35 by 2009’
\\n‘Once furlough ends unemployment will go up ‘
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VALUABLE RESOURCES
\\nshaz@aaa-accountants.co.uk
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ABOUT THE HOST
\\nShaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
\\nShaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
\\nHe is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
\\nYou can find Shaz on:
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This show was brought to you by Progressive Media
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