What do Economists Think? WMS Housing Market Crash Ep.4
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In this fourth episode in the mini-series looking at the question everyone is asking;
\\n‘Is the property market going to crash?’
\\nShaz reviews why the economists think a downturn is possible, 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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- The economic cycle is around 18 years and we are currently 7 years into a cycle. \\n
- Both Brexit and COVID are causing issues at a time in the cycle when it’s anticipated there will be a correction. \\n
- Due to COVID 19 unemployment has increased and there are more people who are financially unstable \\n
- It is argued that a predictor of a crash is when mortgage payments are more than 45% of household income \\n
- The bounce-back loan and the Coronavirus interruption loan have helped to keep interest rates low. \\n
- Housing charities estimate that 200,000 tenants have slipped into arrears and it’s expected that this number will increase when furlough finishes. \\n
- There needs to be more social housing and if housing becomes unaffordable then prices will drop. \\n
- The lockdown has caused many to re-evaluate what they want from life and currently, houses are selling well. \\n
- It’s looking very similar to where we were in 2008 and it has been predicted that house prices could fall by 20%. \\n
- I think the climate and situation will see prices will drop significantly in 2021. \\n
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BEST MOMENTS
\\n‘Mortgage or rent payments are a significant amount of any person’s budget’
\\n‘First time buyers outside of London are already finding it hard to buy property’
\\n‘There needs to be more social housing’
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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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