The Progressive Property Podcast Will The Housing Market Crash in 2023?
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In this episode, Kevin wants to share his thoughts on the looming housing crash of 2023 and how you can either take advantage of it or avoid it!
KEY TAKEAWAYS
- House prices have increased hugely in the past 2.5 years. Now they are correcting themselves.
- In the next few months, Kevin believes the number of first-time buyers will reduce because they follow the media.
- The amateur investors, those that think you need to time the market will also stop buying but this opens up opportunities for those who are experienced.
- There is an opportunity right now in the next 12-18 months to pick up properties at significantly lower prices.
- Saving money right now is a terrible idea, your cash is losing value.
- The bottom of the market, will drop but not as much as the top of the market. 5-10% -vs- 20-25%.
- Adding value is the way forward to existing property purchases.
- Simple economics is that house prices will continue to go up over time, if you are doing long-term investment, property is still a good decision.
BEST MOMENTS
“There will be more and more stock coming available but less buyers”
“People are still going to want to sell, people are going to need to sell”
“The top of the market, the most expensive properties are going to drop massively, maybe 20-25%”
“In 2025, house prices will be higher than in 2022”
VALUABLE RESOURCES
MSOPI – Multiple Streams of Income:
https://www.progressiveproperty.co.uk
ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
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