Are we Losing The Will To Own Our Own Home?

Brett Alegre-Wood
November 17, 2020

Becoming a property owner is hard but not Impossible

Is the UK really moving away from property ownership? This is totally BS.

The UK is moving away from the Thatcherite ideal of property owning democracy. You know what I keep hearing this and I keep thinking you know you know BS

Look the reality is we've come through a period where yes the mortgage market review and all these sort of things have made it harder to get on the ladder. The affordability has made it harder to get on the ladder but actually you can still buy a house with 5% deposit.

Yes, you might only be buying 60% of it or 70% of it or whatever you can you know muster up but the reality is the option is still there to buy you just may not be able to buy where you rent right now. I think if we start getting that concept I think we can still be a nation of homeowners. Yes, the percentage has dropped but yes we've had austerity for 10 years, we've had Brexit for the last three of that we've had coronavirus for the last one the last four of that last three and then four.

So you know we've had all these things layering on top of each other which has kept the market down plus we've had corporate interests with you know controlling the political will to say actually we don't want small landlords we only want big corporates owning property. A lot of these schemes are going to this rent to buy and that's you know that is moving forward and that's what's actually happening.

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It's a very different market in Scotland, it's a smaller market. There's some fundamental changes namely oil and gas with all the issues there and that I know Aberdeen and a few of those places house prices have dropped considerably. So, it depends on how that's reacted.

What does this mean? Are we going to become a European style nation of renters? there certainly will be people like that. There'll be people who unfortunately don't own capital appreciating assets and you know look I'm a property guy but that doesn't mean that property is the only solution. Property, shares, businesses you know those are the people who have capital appreciating assets and effectively they will almost you know be in what I call the landlord class.

Then if you like the renter class will be underneath that. And unfortunately the middle class is getting squeezed down for the most part. What you need to do is make sure that you're you know getting up into the landlord class and owning capital appreciating assets. Whether that is property it probably will be property as a portion of it. It might be shares, it might be businesses you know whatever works for you. It might be a mix you know it's probably going to be more of a mix, and blend. 

Do I think we're going to become a nation of renters, no I don't I think there is still the urge, the feel, the right you know an Englishman's home in his castle just as an Aussie's home as his castle. There's still a need for that and i don't see that changing just because yes affordability has been an issue. Just because yes wages have been stagnant for a large degree.

Just because certain areas haven't been growing because there's a move into the cities, I mean we're now saying that everything's moving out of the cities but is that the case you know well let's have a look at that.

UK country house prices hit a four year high in the race for space you know shift from working from home drives demand among wealthy buyers for properties in rural areas.

Let's face it guys you know most of these stories have one word in it wealthy owners or wealthy investors or wealthy you know I mean at the end of the day you know most of the people you know if you're not wealthy and you don't fit that bill then the likelihood is you're not really getting the choice to move out.

You may and it may be that people move back to where they are but then you know the problem is in the cities is where the jobs are and the jobs are still you know you'll still be going to work for a few days it's likely to be you know a blend work from home and work from office so you still will do. Yes I think and I've said this for a while and actually it was funny because I was on on Gary Vee's the other day on his channel and the whole there was a whole discussion about this where he was talking about how you know people moving out of the city and doing this blended work and I 100% agree with that. We're commenting about that.

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Bottom line what's going to happen and yes people are moving out of the cities yeah or out of the suburbs you know in the community sorry in the central areas because they realize they're going to be working in more of a blend. So they'll move out where they can get a more expensive place oh sorry a cheaper place but more space all right so that is happening. But that doesn't mean that there's not people moving into the cities because actually what will happen is as far as those people go it just might mean that yeah those cities are subdued for a little while but actually I don't think so. I think there's so much pent-up demand for those areas that they're still going to grow.

I think that's really really interesting. Do I think the race for space is actually happening? Yeah I do. I think people are starting to rationalise their future which is a great thing. You know we have been so focused as a society on the financial side but not the social side and I think we're going to become more socially minded now and I would hope that's what happens with us. If we do then I think this whole automation and AI and this sort of thing won't be so bad yeah we'll be able to capture more lifestyle. Yes, there's things that can do some support that and that but you know I think this is gonna take some time but it will happen sooner than we think I think and it's too good two degrees already happening and coronavirus has certainly sped that up.

Be sure to subscribe and press the like button and if you've got any you know questions you can send them through to webinars@gladfish.com and I'll be happy to record a video and response or include in my weekly webinar you know a weekly live stream I should say but anyway guys have a fantastic day and yeah don't forget live with passion and we'll see you real soon bye.

Video Transcription

The UK is moving away from the Thatcherite ideal of property owning democracy. You know what I keep hearing this and I keep thinking you know you know BS

Look the reality is we've come through a period where yes the mortgage market review and all these sort of things have made it harder to get on the ladder. The affordability has made it harder to get on the ladder but actually you can still buy a house with 5% deposit. Yes, you might only be buying 60% of it or 70% of it or whatever you can you know muster up but the reality is the option is still there to buy you just may not be able to buy where you rent right now. I think if we start getting that concept I think we can still be a nation of homeowners. Yes, the percentage has dropped but yes we've had austerity for 10 years, we've had Brexit for the last three of that we've had coronavirus for the last one the last four of that last three and then four. So you know we've had all these things layering on top of each other which has kept the market down plus we've had corporate interests with you know controlling the political will to say actually we don't want small landlords we only want big corporates owning property. A lot of these schemes are going to this rent to buy and that's you know that is moving forward and that's what's actually happening. What does this mean? Are we going to become a European style nation of renters? there certainly will be people like that. There'll be people who unfortunately don't own capital appreciating assets and you know look I'm a property guy but that doesn't mean that property is the only solution. Property, shares, businesses you know those are the people who have capital appreciating assets and effectively they will almost you know be in what I call the landlord class. Then if you like the renter class will be underneath that. And unfortunately the middle class is getting squeezed down for the most part. What you need to do is make sure that you're you know getting up into the landlord class and owning capital appreciating assets. Whether that is property it probably will be property as a portion of it. It might be shares, it might be businesses you know whatever works for you. It might be a mix you know it's probably going to be more of a mix, and blend.  Do I think we're going to become a nation of renters, no I don't I think there is still the urge, the feel, the right you know an Englishman's home in his castle just as an Aussie's home as his castle. There's still a need for that and i don't see that changing just because yes affordability has been an issue. Just because yes wages have been stagnant for a large degree. Just because certain areas haven't been growing because there's a move into the cities, I mean we're now saying that everything's moving out of the cities but is that the case you know well let's have a look at that. UK country house prices hit a four year high in the race for space you know shift from working from home drives demand among wealthy buyers for properties in rural areas. Let's face it guys you know most of these stories have one word in it wealthy owners or wealthy investors or wealthy you know I mean at the end of the day you know most of the people you know if you're not wealthy and you don't fit that bill then the likelihood is you're not really getting the choice to move out. You may and it may be that people move back to where they are but then you know the problem is in the cities is where the jobs are and the jobs are still you know you'll still be going to work for a few days it's likely to be you know a blend work from home and work from office so you still will do. Yes I think and I've said this for a while and actually it was funny because I was on on Gary Vee's the other day on his channel and the whole there was a whole discussion about this where he was talking about how you know people moving out of the city and doing this blended work and I 100% agree with that. We're commenting about that. Bottom line what's going to happen and yes people are moving out of the cities yeah or out of the suburbs you know in the community sorry in the central areas because they realise they're going to be working in more of a blend. So they'll move out where they can get a more expensive place oh sorry a cheaper place but more space all right so that is happening. But that doesn't mean that there's not people moving into the cities because actually what will happen is as far as those people go it just might mean that yeah those cities are subdued for a little while but actually I don't think so. I think there's so much pent-up demand for those areas that they're still going to grow. I think that's really really interesting. Do I think the race for space is actually happening? Yeah I do. I think people are starting to rationalise their future which is a great thing. You know we have been so focused as a society on the financial side but not the social side and I think we're going to become more socially minded now and I would hope that's what happens with us. If we do then I think this whole automation and AI and this sort of thing won't be so bad yeah we'll be able to capture more lifestyle. Yes, there's things that can do some support that and that but you know I think this is gonna take some time but it will happen sooner than we think I think and it's too good two degrees already happening and coronavirus has certainly sped that up. Be sure to subscribe and press the like button and if you've got any you know questions you can send them through to webinars@gladfish.com and I'll be happy to record a video and response or include in my weekly webinar you know a weekly live stream I should say but anyway guys have a fantastic day and yeah don't forget live with passion and we'll see you real soon bye.


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