Housing Affordability Will Worsen For Low Income Groups

Brett Alegre-Wood
December 12, 2020

Housing affordability was hit by Covid hard

Housing affordability is becoming an impossible dream for the young and low income groups. Owning a house is it still possible during this pandemic?

Housing Affordability Despite House Price Drop

Housing affordability, if you are lower income or you are young, you’ve been adversely affected by recession. Which is normally what happens. But is there a way out, is there a way to see through it? Let's take a look.

Let’s talk about the low income: Covid has caused lower housing affordability despite house price drop says Moody’s. Housing affordability will worsen for young and low-income population groups. Unfortunately, these guys are always targeted, not targeted but they always get hit hardest.

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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 

Look, if you are young and you’re sitting out there, if you're on a low income and you're sitting out there unfortunately what you’ve got to do is be really, really disciplined. First of all you probably got yourself into some debt which is normally what you do in your 20’s even before your 20’s in most cases. You’ve got to be disciplined and get yourself out of debt and you have to be disciplined to save. If you can save 5% over 6 months then you deserve to have a mortgage.

It does not mean you have too but you’ve proven yourself that you can do it. I think that is key and I think that should be promoted and that actually is something I know that Boris Johnson said and he came under fire for it saying it's irresponsible lending you know BS, stick it up your freaking idiots because it’s not. I think we want as much home ownership as possible to create stability in our communities.

It creates a thriving property market where people are moving up the ladder, it creates all sorts of benefits to society and I think if you look at how you get out of a recession what you do, one of the things you do is you invest in housing, constructing new housing and I have been saying that for over 20 years. And that’s not just from me, that’s from my mentors who taught me property, that’s how you do it. And invariably a lot of times they resist it, politicians resist that at the start and eventually that’s how they end up doing it. Alright so guys that’s it for the formalities today. 

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Video Transcription

Housing Affordability Despite House Price Drop

So if you are lower income or you are young, you’ve been adversely affected by recession. Which is normally what happens. But is there a way out, is there a way to see through it? Let's take a look. Hey guys don’t forget to click the like and subscribe to my channel so you get notifications and if you can press the notification bell that would mean you will get an update straight to your inbox so you know exactly when I’m going onto livestreams. Obviously I’m doing videos on a daily basis now and you know we are really starting to get into the detail now. If you want to learn about property, if you want to learn how to do property the right way which is what I consider to be in an effortless fashion. So you get professionals doing the various things that you need and you focus on living the life that you want, the career or whatever. If you don’t have the time to go and do it yourself but you know you need to do it. Let's face it we all need to build a portfolio, we need to build a portfolio of properties in order to self fund our retirement and that is critical right now but not just self fund retirement it could also be to create the lifestyle that we want, pay for the kids education and all the things that we want to do with our lives and property can give that to you. So let’s go on a journey and I will teach you how to do all that effortlessly.

Let’s talk about the low income: Covid has caused lower housing affordability despite house price drop says Moody’s. Housing affordability will worsen for young and low-income population groups. Unfortunately, these guys are always targeted, not targeted but they always get hit hardest. Look, if you are young and you’re sitting out there, if you're on a low income and you're sitting out there unfortunately what you’ve got to do is be really, really disciplined. First of all you probably got yourself into some debt which is normally what you do in your 20’s even before your 20’s in most cases. You’ve got to be disciplined and get yourself out of debt and you have to be disciplined to save. If you can save 5% over 6 months then you deserve to have a mortgage. It does not mean you have too but you’ve proven yourself that you can do it. I think that is key and I think that should be promoted and that actually is something I know that Boris Johnson said and he came under fire for it saying it's irresponsible lending you know BS, stick it up your freaking idiots because it’s not. I think we want as much home ownership as possible to create stability in our communities. It creates a thriving property market where people are moving up the ladder, it creates all sorts of benefits to society and I think if you look at how you get out of a recession what you do, one of the things you do is you invest in housing, constructing new housing and I have been saying that for over 20 years. And that’s not just from me, that’s from my mentors who taught me property, that’s how you do it. And invariably a lot of times they resist it, politicians resist that at the start and eventually that’s how they end up doing it. Alright so guys that’s it for the formalities today.

If there isn’t any questions, I want to thank you very much. As always make sure you click the like button, subscribe. If you have any questions put them into that email webinars@gladfish.com and I am happy to answer them back with videos or if they are more specific in nature by all means speak to the team and they can actually go through and explain and answer whatever can give you that clarity. I want to thank you again and we’ll see you next week. Until next week, have a great day and live with passion. See you later bye guys.

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