HSBC recently released a study which shows a generational divide which will result in a sluggish property market. The 2012 Moving Home Survey shows that the inactivity will be triggered by the inability of the younger generation to purchase properties and the reluctance of older homeowners to sell.
HSBC recently released a study which shows a generational divide which will result in a sluggish property market. The 2012 Moving Home Survey shows that the inactivity will be triggered by the inability of the younger generation to purchase properties and the reluctance of older homeowners to sell.
Aside from older homeowners not willing to move or change residences, the report also cited financial obstacles as the main reason for young Britons not entering the housing market. But this should not be the case, according to real estate investment specialist Rick Otton.
“Prospective home buyers, especially the young ones, are usually discouraged by financial concerns like huge deposit and the fear of rejection from the banks. They are afraid to enter a long term financial commitment because they believe that they are not yet stable or mature enough to handle such a commitment to see it through the end,” Mr. Otton said.
The report suggests that the current economic situation also concerns the home buyers particularly the younger generation, and plays a key factor in their reluctance to get on the housing ladder. Recently, the Council of Mortgage Lenders has also predicted that the lending will fall this year due to the weakening economy.
“Loans will be hard to secure this year, with our gloomy economic outlook. In effect, real estate investing will decline as less and less people enter the property market. What if there’s a system that lets you buy houses with no cash involved and does not require you to beg for the bank to approve your loan? Now that’s something interesting,” Mr. Otton said.
For thirty years, Rick Otton has been teaching his students from various countries around the world how to buy a house without a bank or cash involved. His property investment strategies which have been embraced in the US and Australia were formulated in Dallas, Texas during the Savings and Loans Crisis of the early 90’s, parallel to what the UK is going through right now.
“For many years, I have shown my students that financial difficulties should not stop them from achieving their dream of owning a home,” said Mr.Otton.
Mr. Otton believes that new opportunities will reveal themselves to those who think creatively. “Looking at the problem from a different perspective will show you other possibilities that you might have missed otherwise. My strategies are testament to what creative thinking can accomplish,” he said.
For more information on Rick Otton’s property techniques, you can visit:http://www.rickotton.co.uk/sales-page