Will United States Existing Home Sales rates go up or down tomorrow?
@VermaFinance
Жыл бұрын
As someone who is a few years away from buying my first property, its very helpful to learn things from an informative perspective like yours.
@MattBrighton
Жыл бұрын
Glad it was helpful!
@haydenharris3059
Жыл бұрын
A property mortgage is a massive hire-purchase agreement with outrageous interest.
@davidyip5557
Жыл бұрын
We just bought . First time Byers. 200k house at 5% 1000 a month for the mortgage. We fixed for 3 years,we have been living with inlaws for 3 years to save. We are at the stage where our daughter will be leaving school next year and we needed to get settled. So had to buy. If it looses value it won't matter as we plan on staying for over 10 years.
@davidyip5557
Жыл бұрын
@@SigFigNewton there is a reason 😂. Just an ex council house🤷.on one of the worst housing estates in my city. Got to get on that ladder some how
@mw01908
Жыл бұрын
@@davidyip5557Why? There is no housing ladder now, it's snakes
@lewisdelicata5334
Жыл бұрын
The best time to buy a house is always yesterday. Buy now - if you intend to live there in that home then you don't loose. You will have a home and you'll make money back if you own it long enough.
@davidpearson4858
Жыл бұрын
Finally someone with some sense. We can talk ourselves into a disaster
@Alex-mu4ue
Жыл бұрын
There is a liquidity crisis coming, banks won’t want to lend. When banks won’t lend demand will drop and therefore house prices
@Zack-fu4lo
Жыл бұрын
hopefully, the price drop would be significant enough to cover no loans
@DF-dd5nf
Жыл бұрын
Hi, I want to sell my property. She'll I sell it now or she'll I wait till 2024 or 2025?
@Zack-fu4lo
Жыл бұрын
@@SigFigNewton for normal items, then yes, but not for homes. Homes will always increase in prices because people will always want a home. Maybe to live or maybe as an investment, houses are just way too attractive. Hell, as a non current asset, they depreciate(which can become a tax write off) while simultaneously being revalued higher and higher And as such, the only way house price can fall, is through a crash
@mackenzie99david
Жыл бұрын
I read somewhere that the difference between the Halifax and Nationwide monthly figures is that Halifax customers are based more in the North of England and Nationwide's are in the South. As the prices in the NW are holding up much better than in the SE & SW this would explain the divergence between the twos numbers.
@MattBrighton
Жыл бұрын
I’ve definitely heard this before and did try to verify it but as people tend to shop on price now through brokers rather than brand I’m not 100% sure
@moss1066
Жыл бұрын
This time last year the majority of people thought I was off my tits for saying a property crash of 35% minimum was imminent. To me it was plain as day and totally baked in to the figures. Now they know my calculations was good. Will be the end of next year before we see house prices bottoming out. Nowadays the people who say there will be no crash are the ones who look crazy.
@paulransome7156
Жыл бұрын
10% + at least a year of 10% inflation plus a bit more is most likely at least a 25% drop real terms
@FlyingFun.
Жыл бұрын
Wait till rates go up to 17.5% like they did when I bought a house. It's all bonkers. Would not buy a house unless you're a cash buyer and you can get an absolute bargain like 59% off.
@garyboi9779
Жыл бұрын
They won't go that high, inflation is already going down.
@FlyingFun.
Жыл бұрын
@@garyboi9779 I'm sure people said that back then too. I'm pretty sure they won't go up to anything like that because things are breaking already, honestly though I think the economy is in a worse state now than it ever was and interest rates do need to be raised a lot more than 5%.
@davidwhitton5519
Жыл бұрын
They can never go that high, it would bust practically every bank and they wouldn't do that to their partners in crime.
@FlyingFun.
Жыл бұрын
@@davidwhitton5519 true, it's all planned to line their pockets and screw everyone else. Banks are going down already , those same crooks will of course know before hand which banks and when and will position themselves to profit massively from their demise.
@davidwhitton5519
Жыл бұрын
@@FlyingFun. yep, a rigged game. It's a big club and we ain't in it.
@hadid1092
Жыл бұрын
Can you PLEASE PLEASE talk about London more please?
@alastairford7145
Жыл бұрын
It's worth noting that the OBR report's estimate of 10.3% house price growth over the next 5 years includes 9.8% growth from the 2022/23 tax year. There are 2 weeks left of that tax year. If you exclude that number from the forecast, the estimated growth until 2027/28 is 0.46%, using the numbers in their report. It still might make sense to buy a home if you find the right place, but it's certainly not an "investment".
@DF-dd5nf
Жыл бұрын
Hi Matt. I love watching your videos as you always provide very important information and you have so much knowledge. Thank you for everything you do. We need people like you are. And please advise me if I want to sell my property, she'll I sell it now or in 2024 or 2025? I bought it in 2019 in 50% shared ownership, so do you think the value of it has gone up well till now, or is it dropped? Or she'll I wait till 2024 or 2025 as I need to make some money on it. Please advise me. Thanks a lot !!! I appreciate your advice.
@abc-un4xz
Жыл бұрын
I dont need mortgage I live in one bedroom flat in central London with 500£ rent Any mortgage on this would be 1500 plus. Why owning?
@Nobumblegumforyou
Жыл бұрын
How did you get so cheap?
@ethankatzenberg8734
Жыл бұрын
Out of curiosity, why did you move back to London?
@dannotdanny
Жыл бұрын
👍👍👍 Thanks, Matt
@kiranbarrow4648
Жыл бұрын
Who cares year on year i am not buying yesterday
@Ferrari458-u8u
Жыл бұрын
There is a crash coming.
@Lecia-lithium
Жыл бұрын
No one can afford a mortgage. Wake up mate
@96Views
Жыл бұрын
Defo can
@johnsonryan3641
Жыл бұрын
Yep, I'm in the process now and it's possible.
@tomgl6684
Жыл бұрын
Yes, I'm guessing mortgage products are being sold to teddy bears and Barbie dolls.
@RabJ208
Жыл бұрын
For a modest house at £150K you'd need £20K all in. I would say to people to look at what's parked in the driveway and get priorities straight.
@chloes3897
Жыл бұрын
@@RabJ208 where are you buying a house for 150k?
@RabJ208
Жыл бұрын
Another great video! Thank you. Video suggestion: Could you possibly do a video on supply and demand or rather when supply is exceeding demand or vice versa in the property market. Seems like with high inflation, alot of investors are parking money into property because of high inflation. Buyers market and sellers market update videos would be great!! Thanks!
@oanalesnic79
Жыл бұрын
With more bank bailouts, inflation will rise until the currency will worth nothing.
@mihaiblebea1940
Жыл бұрын
if you compare the 5.5% interest rate for £200k mortgage with the rent in London, it's a no brainer. Rent is much higher as it needs to cover the landlord mortgage plus his profit.
@martellking9259
Жыл бұрын
This is a little oversimplified. Add in the uplift in insurance rates, uplift on estate agency fees and if the landlord is letting an apartment (UK) then factor in variable maintenance fees increasing also. Not the best time to be a landlord which is why a lot of landlords are starting to sell lower performing properties.
@professionalgambler74
Жыл бұрын
Its going to drop much more than you are suggesting. There is a huge dollar shortage globally and houses dropping just 10% would be a dream. Global depression incoming.
@LJH83
Жыл бұрын
Thanks for creating such great informative and easy to understand content, much needed in the current era we are in! Thanks!
@MattBrighton
Жыл бұрын
Glad it was helpful!
@SHYBMX
Жыл бұрын
Hey Matt, I've had an offer accepted a few weeks ago. Still in the process of purchasing. I've gotten a 4.28% interest rate on a property worth £380k. with 20% deposit. I still feel it's appropriate to get the house as it's fully done up and I'm 27 and wanting to move out.
@rdtheskald
Жыл бұрын
I for sure wouldn't I'm 31 and have been looking at the idea of getting my first home. I definitely think housing is overpriced.
@jakkuwolfinsomnia8058
Жыл бұрын
A £304k mortgage at 4.28% ? You must have a big salary to stably maintain that. People borrowing £200k at 3.5% are struggling
@SHYBMX
Жыл бұрын
@@jakkuwolfinsomnia8058 Want to guess the salary?
@jakkuwolfinsomnia8058
Жыл бұрын
@@SHYBMX £120k?
@SHYBMX
Жыл бұрын
@@jakkuwolfinsomnia8058 wayy overboard. Between £65k - £75k.
@johnthrussell1377
Жыл бұрын
Don't by a house now
@davidpearson4858
Жыл бұрын
Why? Just waste the money on rent instead?
@TheNomadicTrader
Жыл бұрын
Solid video, I couldn't even think about where to start to do this work myself.. absolute gold, Matt. Thank you
@MattBrighton
Жыл бұрын
Happy to help!
@shaunmoorefinance
Жыл бұрын
Loved the video Matt. Really well together 👍
@garyw.1643
Жыл бұрын
This is just the beginning. Banks won't stop rising the interest rates. Now is the best time to do it. Why they will squeeze themselves with low interest rates that soon. Won't happen over night but probably we will see 15% mortgage rates again.
@endeavorwebs719
Жыл бұрын
You will own nothing and will be happy. Who said you own a house because you hame mortgage ? Forgot to say, property prices only go up.
@kiranbarrow4648
Жыл бұрын
Assuming a lot obi always more positive than reality
@liviuscripniciuc2815
7 ай бұрын
If you buy to rent it out and make profit go for it 🤞
@jibinnjonginyil
Жыл бұрын
A little biased ?
@nicky_nike
Жыл бұрын
always is.
@The_Unintelligent_Speculator
Жыл бұрын
I can’t wait for a bargain.
@ianhosier4042
Жыл бұрын
Too bad that buying a house isn't as easy as going to a store and buying a car or other item. Guzumping should be made illegal as I have lost so much money through this that now I can never afford to buy even if house prices halve and at my age no one will lend me.
@KevinColt
Жыл бұрын
Now or should I say in 1 month TOPS, is the time to buy as many houses as you can. But ofc most people dont have the money because you spent it when the economy was looking great, instead of saving it and spending when the economy is down.
@connormcleod9595
Жыл бұрын
2025 is better. 20%+ drop. Rather buy at cheaper rate. The next 2 years are going to be very volatile.
@elaibesummers906
Жыл бұрын
Great information. Hey Matt can I please ask, if I already put an offer on a house last year and that same house has now advertised on the market March 2023 for a lower price than last year, can I reduce my offer made last year, to meet the now current price advertised? I am a cash buyer.
@harry_jms
Жыл бұрын
The more I learn about you, the more I realise you were just very fortunate.
@FlyingFun.
Жыл бұрын
Interest rates at practically zero for years made it easy peasy to make money because it was basically free. That's not true now and prices are inflated to ridiculous levels. They need to drop.
@MattBrighton
Жыл бұрын
Cheap lending has helped, and a tonne of luck along the way but not without a tonne of hard (and smart) work.
@cooper8t
Жыл бұрын
Cheeky 0.1% mortgage rate is the one that got me
@FlyingFun.
Жыл бұрын
@@cooper8t not long ago we were being threatened with negative interest rates lol. Makes me pretty mad to be honest, I paid 17.5% on my mortgage and now for the last 10 to 15 years been mortgage free and have savings getting next to nothing in interest.
@cooper8t
Жыл бұрын
@@FlyingFun. House prices were cheaper even relative to the higher interest rates in the 90's. At the moment we've got interest rates around 5%, prices still reflecting the ultra low interest rates and with housing prices to household earning ratios at the highest ever. Trust me, you got off easy compared to this younger generation.
@mw01908
Жыл бұрын
11:50 in 2 years time you will be paying 8% not 4
@johngee4306
Жыл бұрын
If you need a house buy it.
@nik_hithu
Жыл бұрын
Amazing content ! Thanks
@Itsahmadworld
Жыл бұрын
Great content
@christinefiedor3518
Жыл бұрын
As someone who lived through the 17% hikes I find “ high interests rates “currently quite laughable though it’s actually not all funny! Until now low interest rate have fuelled house prices . People won’t know what’s hit them if they go up anymore. In the late 80’s lots of people had to sell and couldn’t even get back enough to cover their loan! Since this video was made there been more predictions that we have not seen the worst yet! I hope they are wrong, But don’t expect the government to bale you out!
@Dr.Stacker
Жыл бұрын
Another old timer that needs to brush up on thier maths..... 17% of £2000 was a much smaller % of salary back then compared with 5% of £200000 as a % of salary. I believe there was a statement in the video which mentioned that about 40% of income goes straight towards the mortgage.
@christinefiedor3518
Жыл бұрын
@@Dr.Stacker I hear you. However the fact remains the interest rates could go higher. People need to factor that in. When interest were raised previously many more women were working part time and could increase their hours to raise their disposal income to compensate .many took up work for the first time. Now most women are working full time and those who would prefer to be a stay at home mum no longer have the choice. It should not be the responsibility of the state to support child care, but parental responsibility.Sadly. Both partners working is one of the reasons that have. fuelled the rise in house prices..I believe society in general is now witnessing some of the consequence of this! And before you start, many younger people actually agree with this. But at least I don’t resort to using insulting ageist comments to make my points!
@stuartsgp
Жыл бұрын
Love the summary thanks so much
@MattBrighton
Жыл бұрын
Glad it was helpful!
@thevirtuoso8924
Жыл бұрын
I like the video as usual - although, I am a little paranoid that you might be trusting that 10% downside a bit too much. If the gov were actually predicting horrific 20+% drops in price, I really doubt they would say it out loud, they would probably say something like 10% and then be wrong due to "unforeseeable events" etc. I'm not an expert of course, but I'm going to wait 6-12 months and then buy. That 10%+ discount will mean I can get 10% more house for my £ and when it comes time to sell, the extra profit will be a huge payday.
@VegasMilgauss
Жыл бұрын
It takes 3-4months to buy a house kid.
@tomgl6684
Жыл бұрын
You're addressing someone who's literally just told you he's bought a house, genius.
@RabJ208
Жыл бұрын
It might take you 3 or 4 months to buy a house But it doesn't take me 3 or 4 months to buy a house, kid.
@tomgl6684
Жыл бұрын
@@RabJ208 Depends entirely on the chain. First house I bought (ie no chain my end) took three months or so because the seller was trying to buy somewhere to move to.
@RabJ208
Жыл бұрын
@@tomgl6684you should have typed "It took me 3 or 4 months to buy a house because or circumstance A or circumstance B. I bought a surveryer to a block of 10 flats and bought them all within 3 hours.
@jimbojimbo6873
Жыл бұрын
Just meed the damn thing to crash ffs
@RabJ208
Жыл бұрын
Not nessessarily, if you are in it for the long haul. Let's say you buy a property at £200K now and it drops to £180K next year. On paper you've lost £20K. But in 10-15 years when your house has doubled in value to £400K - will that £20K dip worry you?
@nicky_nike
Жыл бұрын
@@RabJ208 Let's say it drops to £100k in two years, the market flounders for the usual three years, and then prices rise with wage inflation, typically from Land Registry values of 4% per year on average, that's 18 years to get back to £200k. Or drops to £150 (it ain't going to be £180k), three years floundering and then plus 8 years, that's 13 years from now. So buy at market bottom.
@RabJ208
Жыл бұрын
@@nicky_nike, houses on average double every 10 years. So over the course of 10 years on average a £200K house sould be worth in the region of £400K. You would have to be fairly unlucky for your house to halve in value and to go through all of those stages in your hypothetical wouldn't you say? I'd think choosing 10 people at random and then letting them go on about their lives; and predicting they'd all die of an electric shock would be more likely?
@nicky_nike
Жыл бұрын
@@RabJ208 After the events happening now, do you honestly think prices will double in 10 years? They didn't double say 2013 to now. This crash will extend that timing.
@chloes3897
Жыл бұрын
@@RabJ208 I think they mean they need it to crash so they can afford to buy?
@Gjudxdkjyzddhjnr7091
Жыл бұрын
Inflation has just come out at 10.4%. Its actually increased, pretty much guaranteeing further increases in interest rates. 4.75% isn't going to cut it. If your next video is yet another optimistic punp,I'll know that you've lost objectivity. Understandable, given your position though
@MattBrighton
Жыл бұрын
Inflation in Q1 2023 was expected to be about 9.9% - so it's not too far off, and understandable for it not to be accurate considering so much volatility and uncertainty in the world putting pressure on supply chains, making forecasts hard and less reliable. all eyes are on today's monetary policy committee, my guess is BoE will vote to raise to 4.25% due to the increase from 10.1% to 10.3% inflation from Jan to Feb.
@Gjudxdkjyzddhjnr7091
Жыл бұрын
@@MattBrighton agreed. 25 basis point rise is my guess too. I think that rates are going to hit a much higher peak to tame inflation. Historically, we've had to have an interest rate exceeding inflation to get it under control. Would be interested in your take on this
@MattBrighton
Жыл бұрын
@@Gjudxdkjyzddhjnr7091 I need to look back at previous forcasts. I remember they either forecasted a peak of 4.5 or 4.75% - if it risks exceeding that then things get really interesting and my view would start to change - or alternatively if it stayed where it is now but for a longer period of time than anticipated (eg inflation didn’t fall to about 5% by end of this year) then also would change my thoughts as well.
@Gjudxdkjyzddhjnr7091
Жыл бұрын
@Matt Brighton it's worth reading up on Vockler for an indication of the worst-case scenario. Some say you need a real positive base rate to get inflation under control...
@CristianoRonaldo-mk7dd
Жыл бұрын
My friend you are talking rubbish. House prices will never go down with this kind of inflation, build new homes became too expensive so the ones on the market will never go down on price. There are no many houses been sold because the interests rate are too high just that, but the prices are still going up because the shortage is immense compared with the demand.
@davidyip5557
Жыл бұрын
We just bought a house. It was up for 220.000 - 230.000 we got it for 200k,there are deals out there
@theconspiracyfactualist.144
Жыл бұрын
Banks are now permitted to purchase houses. This will make a huge difference.
@shyturk10
Жыл бұрын
😂 the market will drop if it has been inflated which it has because of low rates for the past couple years. I say 10/15% by the mid 2024.
@RabJ208
Жыл бұрын
Some economists think there'll be a 40% drop. Some say there'll be a 10% dip. Some don't think there'll even be a dip. I'm assuming you'll be a billionaire soon with your inside knowledge of the market?
@killuminatiTOS
Жыл бұрын
Wait 12 months you get 50% discount. This bubble should of burst properly in 2008. This time they can't save it. It is inevitable.
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