Finance experts consider unemployment as the most powerful sign of an impending recession.
Finance experts consider unemployment as the most powerful sign of an impending recession.
That is why UK economists are bothered by the recent study made by the International Labour Organisation (ILO) which showed evident deceleration in the economic activity of the country due to the increase in the unemployment rate. Many experts fear that this dilemma will surely lead to UK’s second recession. Even property expert Rick Otton warns that the declining economy will lead to property price cuts.
“It’s actually a snowball effect. A weak economy is characterized by an increase in unemployment. With more people getting laid off, the lesser the buying power. Now sellers are forced to cut prices just to accommodate the few qualified buyers,” Mr. Otton said.
The report said that the growth in the unemployment rate is affecting the whole Eurozone, including advanced economies like Spain, UK and Germany. The report also forecasted the joblessness to increase up to 9pc next year, which is the highest record so far.
“A lot of people are either losing their job or getting wage cuts. If this problem continues and the government doesn’t do something about this, this uncertainty in the job market will surely drag down prices of properties for sale,” he said.
Mr. Otton also added that with the job market in a sensitive state, the banks will be less willing to lend money for purchasing property.
“One of the main aspects the bank looks into when it comes to loan is job security. So It’s hard to acquire loans today because of the unstable job market. How can you pay if you’re not employed? This is the reason why investors and home buyers are looking into the possibilities ofcreative real estate,” Mr. Otton explained.
“My strategies have helped a lot of people become successful in the property market through alternative lease options,” he said. Mr. Otton has been teaching his students—more than 30,000 to this day, how to purchase properties with no banks loans and with as little cash as possible.
Rick Otton shares his strategies by travelling to different countries and conducting real estate seminars where he explains each investment technique through examples and actual deals. The students also get to interact and share experiences among themselves, which is a very effective teaching method.
“This is a good opportunity for the youth, especially the unemployed, to gain financial freedom in the midst of our weak economic conditions. Unemployment is forecasted to rise in the coming years and it would be a good chance to start a career in real estate investment,” he added.
You can access Rick Otton’s strategy at : http://www.rickotton.co.uk/sales-page