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
About Rick Otton
Rick Otton is an original pioneer of creative property strategies. He is founder and CEO of We Buy Houses, a leading property enterprise which operates in the property markets of the United Kingdom, New Zealand, USA and Australia.
In 1991 he uncovered an innovative strategy of buying and selling real estate and went on to amass a portfolio of 76 properties in his first twelve months of active investing.
Since 2001, Rick has taught over 30,000 students to buy, sell and trade residential property without banks, debt or risk. By employing these same strategies many of Rick’s students have made over a million dollars a year in cash and equity, using little or none of their own money, year after year.
In 2008 Rick revealed his strategies in the United Kingdom and became the creator of ‘Houses for a Pound’.
He has appeared in the following Australian TV programmes: 2004 ABC documentary ‘Reality Bites’ and on Today Tonight, Insight and A Current Affair. In October 2007 Rick gave a way a house on national TV during 2 episodes of Channel 9’s Hot Property.
Rick Otton has also been featured in Your Property Network, Australian Property Investor, Lifestyle Trader Magazines and in the books: The Secrets of Property Millionaires Exposed!, Ideas: Original Perspectives On Life and Business From Leading Thinkers, Think and Grow Rich in Property, Insider Property Secrets, and Walking With The Wise.
Rick Otton can be contacted via his website http://www.rickotton.com
