One thing that you probably should have mentioned is the economy. Government debt is something that cannot be ignored. Unlike the GFC where the UK rebounded with huge FDI into London that's changed. People aren't spending. I think the market will flat line for at least a decade possibly longer. There isn't the numbers of FTB in the marketplace as there once were. Attitudes towards home ownership are changing. Will the traditional FTB be in sufficient numbers when they are reliant on the bank of mum and dad.
Water always has a way of finding it's level. With the multiples of avg UK earnings to buy an avg UK property currently were they are around 7-9 times earnings, this along with inflation over the last few years driving the price of everyday essentials through the roof is making it very tough for most families, with many turning to credit to keep up with payments. This can only keep heads above water for so long. Something has to give. Either wages, pensions and benefits have to increase to keep up, or the cost of everything else, including housing has to come down. Then to boot what happens globally can have a massive effect on the UK economy and wage growth.
@@TheWilliamGale And adjusted for inflation how much has the average family income dropped in the last two years???? Everyone's finances are being squeezed and very few can even afford to have children anymore, ( unless you're on benefits). Then the fact that so many people have second homes and investment portfolios in property, that are solely there for profit. What happens if there is a downturn?? Same as any other asset class, sell sell sell, but many who are highly leveraged will loose life changing amounts of money. Look Stateside across the pond and things are clearly starting to unravel, and when they sneeze we all catch the cold!
All good points. I appreciate wage inflation hasn’t kept up with inflation. But still so much drop in value has been hidden by inflation. Price growth running behind inflation is in effect depreciation and I suspect we’re going to see slow growth for some time.
One thing that you probably should have mentioned is the economy. Government debt is something that cannot be ignored. Unlike the GFC where the UK rebounded with huge FDI into London that's changed. People aren't spending. I think the market will flat line for at least a decade possibly longer. There isn't the numbers of FTB in the marketplace as there once were. Attitudes towards home ownership are changing.
Will the traditional FTB be in sufficient numbers when they are reliant on the bank of mum and dad.
Very good points. You may well be right.
You tell em’
- william gale from Canada
🤣👌
Thank you for choosing such calm music, definitely helps to stay focused 😅
🙏
Water always has a way of finding it's level. With the multiples of avg UK earnings to buy an avg UK property currently were they are around 7-9 times earnings, this along with inflation over the last few years driving the price of everyday essentials through the roof is making it very tough for most families, with many turning to credit to keep up with payments. This can only keep heads above water for so long. Something has to give. Either wages, pensions and benefits have to increase to keep up, or the cost of everything else, including housing has to come down. Then to boot what happens globally can have a massive effect on the UK economy and wage growth.
It's the house industry and media trying to hype up the markets, desperate to make you believe houses only go up
Adjusted for inflation house prices have dropped 16% in the last two years.
@@TheWilliamGale And adjusted for inflation how much has the average family income dropped in the last two years???? Everyone's finances are being squeezed and very few can even afford to have children anymore, ( unless you're on benefits). Then the fact that so many people have second homes and investment portfolios in property, that are solely there for profit. What happens if there is a downturn?? Same as any other asset class, sell sell sell, but many who are highly leveraged will loose life changing amounts of money. Look Stateside across the pond and things are clearly starting to unravel, and when they sneeze we all catch the cold!
All good points.
I appreciate wage inflation hasn’t kept up with inflation. But still so much drop in value has been hidden by inflation.
Price growth running behind inflation is in effect depreciation and I suspect we’re going to see slow growth for some time.