Property prices at “top of the market” Robert Kiyosaki - UK Property Talk

Property prices at “top of the market” Robert Kiyosaki

 

Even the author of the great classic, Rich dad poor dad, says that the property market is all topped out and it would be a mistake to buy right now. 

 

I was recently listening to a radio show produced by the Man who made multimillions from real estate and he said he cringes when he hears young people talk to him and say that they bought his book and I’m now building a portfolio. He urges caution and wonders why people are buying at the “top of the market”.

 

Robert also thinks that we are already in a recession and heading for a 1930s style depression. 

 

I want to stress that this is one opinion.

 

This is an extremely pessimistic view but it could come to pass depending on what governments and central banks do.

 

The game of chess is not over yet and there are multiple combinations of moves to be played out.

 

US Federal reserve officials planning restrictive measures to curb inflation, including higher interest rates.

 

These measures could drive the country and the world into a recession. 

 

ECB warns that a housing correction could put banks at risk of defaults and hit low-income families.

 

There is no doubt that printing money over the last 12 years has contributed to inflationary pressures and price rises that we have not seen for 40 years.

 

On top of all the problems we’ve had in the last two years there is now a war going on in Ukraine which is threatening to cause food and fuel shortages in the west.

 

My own view is that the West has miscalculated and made wrong moves on the chessboard leave and us exposed.

 

Russia is one of the few countries in the world that can be self-sufficient. Why, because it has its own supply of food production, manufacturing, oil and gas and other minerals.

 

The truth is the west needs Russian products more than Russia needs the West.

 

There is already evidenced food shortages in many parts of the world such as Sri Lanka and Singapore. 

 

Major food suppliers such as India and Malaysia have banned the export of certain products to preserve supplies for its own people.

 

Of course, the Russian people will also suffer from the sanctions but their government is not a real democracy and they can sit it out longer than Western governments.

 

The drive to green energy has also left the west exposed now that we have sanctioned Russian oil and gas exports.

 

However, Saudi Arabia has agreed to step up production.

 

How will all this this affect property?

 

The truth is, nobody knows for sure. But if the west goes into recession caused by the war, higher interest rates and inflation, there is no doubt that people have less money to spend on properties which will force a correction and prices.

 

Higher interest rates alone will force up the price of mortgages. 

 

Buying and selling at auction.

 

Buying and selling property through auctions is a totally different animal from the usual way most people buy and sell a house, which is through a High Street estate agency. 

 

This could be a course in its own right as you need to understand the merciless rules of the game in auctions. Six key differences:

 

·        Commitment

·        When the hammer goes down

·        Fees are usually higher

·        Opportunities

·        Buyer beware

·        Do your homework BEFORE the auction

 

My own agency will be offering both additional buying and selling as well as the opportunity to sell or buy at an auction.

 

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Is The Housing Market About To CRASH? Property Market Slowdown After Sta...

More Evidence Of Property Market Slowdown Post Stamp Duty Holiday

More worrying signs for the UK housing market have emerged following the ‘Stamp Duty property purchase tax’ holiday withdrawals, according to the Nationwide.

The leading building society own figures revealed that house prices dropped slightly in July compared with June, but were still 10.5% higher than a year ago, mirroring an earlier report by the Halifax, Britain’s biggest mortgage lender.

In the rush to buy, most stamp duty savings were outstripped by fast rising prices.

The tax break helped create a housing boom during the pandemic. Booms are often followed by busts.

A typical home cost £244,229 in July and annual house price increases were at a 17-year high in June, but slowed slightly in July, the lender said.

Breaks for property purchase taxes were pulled in Wales at the end of June, and reduced in England and Northern Ireland at the same time. The tax will return to normal levels by October.

The number of homes sold every month reached record levels not seen since comparable records started in 2005.

The market for large properties outside of town centres had surged, while sales of flats had fallen.

The number of transactions for properties bought for £500,000 or more increased by 37% over the 12 months to March, compared with a rise of 2% for all properties.

The search for space, indoors and outside, had driven demand for larger homes in which to live and work during the pandemic. Flats, without gardens and - in some cases - with issues over cladding and fire safety, have been more difficult to sell. Source: BBC News.

Professional investors make money from property whether the market is rising or falling.

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Property buyers pay more for homes than the stamp duty saving

Home buyers rushing to beat the June Stamp Duty Holiday deadline could be paying far more for an overvalued property than they are saving on the tax?

Inflated property prices keep hitting all-time highs, despite higher unemployment and the worst recession in 300 years, and buyers are paying over the odds, according to a BBC report.

In one example, a house which sold for £325,000 during the first lockdown is now on the market for £400,000! Three couples are trying to buy it before June despite the fact that they have no need to panic.

I have recently seen dilapidated properties auction sell for £200,000 over reserve, despite needing a minimum of £100,000, and the total outlay being far more than the average price in the area.

Mortgages are proving to be a challenge with surveyors booked up for weeks and lenders becoming choosy about who they lend to. Some sellers would rather take a lower offer from a cash buyer than risk losing a sale due to mortgage issues further down the road.

Stock markets and cryptocurrencies have also hit new highs with buyers jumping on the bull market bandwagon for fear of missing out – FOMO. In my experience, bubbles like these have usually burst leading to market crashes and downturns.

The Dow Jones index has doubled in 5 years and the Nasdaq has almost tripled!

Overseas buyers from places like Hong Kong are helping to push sales of super-prime London property. In 2020, over 200 properties valued at an average of $18 million were sold in London, more than any other city. Upmarket estate agent Savills reported that they have sold almost 100 £5 million London properties.

The Central London property market is unique and a world apart from the rest of the UK, as well as most of the capital. Billionaires can afford to park up to £50 million into a property and leave it empty for years.

The price of an average property in the London area is just over £500,000 and half that for the rest of the country. There are also parts of the UK where you can pick up a house for £30,000!

In fact, since the lockdown started there is a growing trend to move out of the city centres into the countryside creating so-called “Zoom Towns”, where people work from home and hope the wifi is strong enough.

In the UK, GDP rose last month by just under half a percent and EU trade has recovered after a shaky post-Brexit start this year.

How To Start A Money Making Business From Home Without Capital Or Risk

Did you read the story of the man in East London who is making a fortune after starting a home-based business last year when he was laid off from his job during the lockdown?

What was the business?

Assembling flat pack Ikea furniture! Yes, that’s it. No premises, no rent or overheads – pure profit!

During the lockdown, there was a boom in home improvements and like me most people hate assembling furniture. He jumped in, provided a service that people wanted and is making a pile of money putting together flat pack furniture for thousands of customers.

With pubs and restaurants closed for the lockdown in the UK and Ireland it's a reminder of how vulnerable physical businesses, like pubs, restaurants and shops are to economic downturns or market changes.

At the same time, internet business owners are getting richer. Never in history has more goods been bought on the internet.

Even before the pandemic, the high street was already under pressure from online shopping, which has exploded in the last few years.

High rents, taxes and competition from the likes of Amazon and Shopify have driven large retailers, like Debenhams, out of business and forced John Lewis to start closing 70% of its 50 plus stores in the UK.

How does this help you get started online?

The internet has given small home-based businesses an opportunity to compete with the big companies which have dominated the market. They took the best sites in the high street and malls, and often drove small retailers to the wall with massive advertising and undercutting. Fortunately, this has now changed and that’s how you can benefit from the online bonanza.

You can now set up a risk-free online business or store - from home in your spare time - and sell to a potential market of 5 billion people browsing the internet every day looking for solutions to their problems.

You no longer need to rent a shop or premises and pay high taxes and bills before you make a penny. And you don’t have to quit your job until your business income exceeds your salary.

Here are 3 simple steps.

Step 1

Sell solutions to people’s problems

Research your idea or product online – where else! You can check on Google how many people are searching for products or solutions to their problems. For instance, millions of people want to be slimmer and healthier, especially in these times. According to wordstream 450,000 people have recently searched for “how to lose weight” on the internet. Other ‘keyword’ searches like “diet” and “lose weight fast” had similar results. That’s just one niche!

You can literally find out how many people are searching for keyword solutions by checking on Google and specialists like Wordstream and Mondovo absolutely free. Market research like this was previously only available to large companies with large budgets. Now you can access it for free.

You can get up and running with your online business website today for free with GrooveFunnels. For more information…click here  

Step 2

Set up your online business today

Set up an online business selling products that people are looking for (not what you think the market needs), or sell to people online from your existing business, by setting your website online today. You don’t need to pay a designer or software engineer to set up a website, as there are readymade templates and off-the-shelf website pages to get your business started today. In the past, I have spent tens of thousands on websites because they had to be designed and built from scratch, which took months. Fortunately, you don’t have to go through this pain.

You can now build a simple website for free using GrooveFunnels template pages and built-in shopping cart checkout facilities with a click of a button. GrooveFunnels is offering free lifetime access for a limited period only – no credit card required to open and start using your free account. For more informationhttps://groovepages.groovesell.com/a/uy9VcdqIvopT, click here

Step 3

Now decide what you are going to sell and how and GET STARTED!

Decide what niche you want to be in and what you want to sell. Unless you already have your own products and business (which you may want to change based on your new research on what people actually want) you can start by selling other people’s products and services for a generous commission of between 10 and 50%. This is essentially how some of the biggest companies in the world make billions in profits.

Booking.com and Airbnb do not own their own hotels and Amazon helps millions of small retailers and authors sell online for a commission.

If you want to start earning cash today, GrooveFunnels will also pay you a commission to recommend their fantastic free software to your friends, colleagues and customers when you open your free account. Find out how to earn money

Here’s the best part. It’s risk free and no capital investment required! No re-mortgaging your house and borrowing thousands or risking everything to open up a physical business. And you can get started right away. What have you got to lose?

PS. One final thing…this free lifetime access is on offer for a limited period only.

GrooveFunnels only plan to keep this offer open for a short while and will soon start charging at least $99 dollars per month to access the same package you can get for free for life – NO credit card needed…FREE LIFETIME ACCESS.

https://groovepages.groovesell.com/a/uy9VcdqIvopT

#investment #money #taxreturns #makemoneyonline #groovefunnels #FREE

Will Mortgage Repayment Holiday End Lead To Mass Home Repossessions?

The Financial Conduct Authority, has announced that mortgage lenders can enforce repossessions of homes from borrowers unable to make repayments.

As many as 100,000 were on mortgage repayment holidays during the Covid lockdowns, but this came to an end this month. Even more borrowers have not been able to make repayments on loans and credit cards.

The term “repayment holiday” implies that borrowers are being let off, but arrears are added to the loan resulting in higher payments for borrowers already struggling.

Lenders must follow guidance on when to repossess and only use court action as a last resort.

The courts already have a backlog of all types of cases and bailiffs cannot be instructed by the courts until the end of May at the earliest in England and end of June in Wales, which means landlords may will not be able to gain possession of a property for several months.

Those unable to make repayments can no longer apply for a deferral on mortgage, loan or credit card repayments, however. lenders can consider individual cases of hardship based on their specific financial circumstances.

Will this lead to mass repossessions?

Probably not mass repossessions, but definitely an increase and more motivated and distressed sellers.

Unlike previous recessions, interest rates are at an all-time low – but watch out for those big step-up in payments after an initial fixed rate or discount, as well as HUGE FEES being added to the loan and increasing your debt.

In better news for home buyers, lenders can now accept applications for a new Help to Buy scheme in England. This is a less generous version than the previous scheme and is restricted to first-time buyers.

The Chancellor’s new 95% ‘mortgage guarantee scheme’ announced in the budget is due to be rolled out next year.

With stamp duty holiday ending in August and more people coming off the job retention scheme, the long property boom could be coming to an end. The question is whether or not governments can print their way out of the recession, with massive Trillion Dollar financial stimulus packages to prop up weak western economies, and avoid a looming worldwide depression.

Is it Possible To Start A Money Making Business From Home Without Capital Or Risk?

With pubs and restaurants closed for months during the lockdown in the UK and Ireland, it's a reminder of how vulnerable physical businesses, like pubs, restaurants and shops are to economic downturns or market changes.

At the same time, internet business owners are getting richer. Never in history has more goods been bought on the internet.

Even before the pandemic, the high street was already under pressure from online shopping, which has exploded in the last few years.

High rents, taxes and competition from the likes of Amazon and Shopify have driven large retailers, like Debenhams, out of business and forced John Lewis to start closing 70% of its 50 plus stores in the UK.

How does this help you get started online?

The internet has given small home-based businesses an opportunity to compete with the big companies which have dominated the market. They took the best sites in the high street and malls, and often drove small retailers to the wall with massive advertising and undercutting. Fortunately, this has now changed and that’s how you can benefit from the online bonanza.

You can now set up a risk-free online business or store - from home in your spare time - and sell to a potential market of 5 billion people browsing the internet every day looking for solutions to their problems.

You no longer need to rent a shop or premises and pay high taxes and bills before you make a penny. And you don’t have to quit your job until your business income exceeds your salary.

Here are 3 simple steps.

Step 1

Sell solutions to people’s problems

Research your idea or product online – where else! You can check on Google how many people are searching for products or solutions to their problems. For instance, millions of people want to be slimmer and healthier, especially in these times. According to wordstream 450,000 people have recently searched for “how to lose weight” on the internet. Other ‘keyword’ searches like “diet” and “lose weight fast” had similar results. That’s just one niche!

You can literally find out how many people are searching for keyword solutions by checking on Google and specialists like Wordstream and Mondovo absolutely free. Market research like this was previously only available to large companies with large budgets. Now you can access it for free.

You can get up and running with your online business website today for free with GrooveFunnels. For more information…click here  

Step 2

Set up your online business today

Set up an online business selling products that people are looking for (not what you think the market needs), or sell to people online from your existing business, by setting your website online today. You don’t need to pay a designer or software engineer to set up a website, as there are readymade templates and off-the-shelf website pages to get your business started today. In the past, I have spent tens of thousands on websites because they had to be designed and built from scratch, which took months. Fortunately, you don’t have to go through this pain.

You can now build a simple website for free using GrooveFunnels template pages and built-in shopping cart checkout facilities with a click of a button. GrooveFunnels is offering free lifetime access for a limited period only – no credit card required to open and start using your free account. For more informationhttps://groovepages.groovesell.com/a/uy9VcdqIvopT, click here

Step 3

Now decide what you are going to sell and how and GET STARTED!

Decide what niche you want to be in and what you want to sell. Unless you already have your own products and business (which you may want to change based on your new research on what people actually want) you can start by selling other people’s products and services for a generous commission of between 10 and 50%. This is essentially how some of the biggest companies in the world make billions in profits.

Booking.com and Airbnb do not own their own hotels and Amazon helps millions of small retailers and authors sell online for a commission.

If you want to start earning cash today, GrooveFunnels will also pay you a commission to recommend their fantastic free software to your friends, colleagues and customers when you open your free account. Find out how to earn money

Here’s the best part. It’s risk free and no capital investment required! No re-mortgaging your house and borrowing thousands or risking everything to open up a physical business. And you can get started right away. What have you got to lose?

PS. One final thing…this free lifetime access is on offer for a limited period only.

GrooveFunnels only plan to keep this offer open for a short while and will soon start charging at least $99 dollars per month to access the same package you can get for free for life – NO credit card needed…FREE LIFETIME ACCESS.

https://groovepages.groovesell.com/a/uy9VcdqIvopT