The Biggest Scam in the Housing Market ⛔️

Beware this biggest scam in the housing market. I think this is quite disgusting, and it used to be optional, and now it's obligatory, mandatory. It's been forced upon you. Not only is it ruining people's finances, it's also ruining family and, and really ruining society, actually. And it's a bit of a con. And what really annoys me about governments and systems is when things are optional and then they become mandatory. Do you know, uh, income tax was temporary and it used to be 3%, and then bit by bit, like Chinese water torture, now income tax is compulsory and it's up to 45%. And, you know, when they on the sly make optional or temporary things mandatory, I think that's outrageous. And the biggest scam in the housing market by a mile, it's actually not property prices, because, um, property prices are a result of some of these what I deem to be scams. And that is the double household income requirement. So I don't know if you remember, but only 15 years ago, not even that long, 20 years ago, you only needed to prove income from one of the two parents or partners to be able to get a mortgage for a house. Now, 50 years ago, um, you know, a regular working-class laborer could do a labor-based working-class job and have a 3-bed or a 4-bed house and raise his 2 or 3 children and look after and protect his wife, who could stay at home and look after the house and the children on his one working-class income. Do you know, like, back in the day, property prices were 3 times income. Now they're 10 times income. This has got way out of control. It's an outrageous scam. By the way, That's the result. You know, property prices and rents and 10 times incomes are the end result. They're the effect. They're not the cause. And landlords aren't the cause, by the way, because people know I'm a landlord. So now it's pretty much with most mortgage companies mandatory that you have to prove not one but two incomes, which means financially you've both got to work. But I mean, that has all sorts of other connotations, which I'll talk about in a moment. But you have to prove two incomes. So that means that from a family perspective, who's looking after the children? You are forced to work, both of you, just because the mortgage company wants you both to earn an income. And this has been forced upon you, forced by rising property prices or causing rising property prices. Forced by banks and forced by increased taxation over and over and over again. Now Rory Sutherland, he reckons that the average household has lost 35 hours of their life because of this. I.e., in the family household and the two partners, you've lost 35 hours of free time that you have to now give to the banks and the government in taxation and having both to work. And then even worse, add on to this even worse, what about our children? Our children are now growing up without the nurturing care and love of their mother or their father, which is absolutely vital. And I think that is going to be the biggest damage to society. And I think that's absolutely outrageous. Now, I'm a landlord and I don't force two incomes to be proved for renting. So this is going to end up creating probably a generation rent. Maybe in the future we won't own homes anymore ourselves because, you know, BlackRock and Blackstone and Lloyds will buy up all the property. And if properties are now 10x incomes, what are they going to be in 20 or 30 years? So from an overall society point of view, this is really bad, really bad, and I worry for the future of our children. Now, On all my videos, I offer solutions because some people do call me a bit of a doom monger because I'm pointing out the realities of what's going on. Um, but here's the best way to get around this: get rich. What else can you do? Get so rich that your single income is massive. Get so rich that you can buy the house for cash. Get so rich that you can rent anywhere and everywhere and you don't have to bend over to the banks and, you know, in the system get so rich that you paying all this tax either doesn't matter, or you can elope to Dubai, or you can get a really good accountant or really good lawyer and, you know, have some good tax, um, saving strategies, or you can start up separate income streams or overseas income streams or structure your affairs tax efficiently. To me, that is the only solution. Labour won't help you. Look, you know, maybe reform might improve things, but it's probably going to be really hard for them Because, you know, if the system is broken, a system is broken. If your car won't start, you get— you're moving your partner out the way going, I'm going to press the button to see if it starts. Is that actually going to work? And this is why I'm now really focusing on money.school, my global financial school, to help as many people on this planet get better financial knowledge. I'm putting new content in probably 3 times a week now. I've upped it from once a week. Every Wednesday, new content on starting your business, raising money, building multiple income streams, learning how to invest. Protecting yourself from, you know, all of these what I believe are quite scammy things that are going on. Get your tax bill down, your income streams up, your opportunities up. All of this is taught in money.school. There's hundreds of hours of courses, resources, and masterclasses to help you start and scale a business, make, manage, and multiply money, get your tax bill down and your income up. So if you'd like to join, I recommend you go right now and type in— you'll need to type this in— money.school. Now the great news is it costs 0.01% of what it costs to get some degree in nothing useful. You can cancel anytime, there's no ongoing contract. It actually costs less than 50p a day. Um, I spent more on coffee in the last 48 hours than it costs to join money.school, and you can cancel anytime. So you can go in and gobble up a few hundred hours of content on improving your personal finances, more than you'll learn in school and university. I'll put that out there. Why don't you try it? So join now on the link money.school. And the great news is right now we're in the middle— we're at the start of a 6-week masterclass on how to raise money at 0% interest and how to, on a safe, secure, but long-term basis, basically get money from the banks that doesn't cost you any interest repayments. Because you play them at their own game. Because they lure you in with special offers to then expect you one day to then pay masses of interest. But you take them up on their special offers and then you don't pay the masses of interest because you're smarter than them. So we're actually running a course on this, and right now online live, it started yesterday. So if you join money.school right now, you'll get access to this for, um, less than 50p a day. So for what I spend on coffee in 2 days, although I am a coffee addict. So go and type in money.school right now, and I'll see you in there. See you in the members area. Someone here has said, do we sell our buy-to-lets? Personally, I would keep your property in the UK because you might have capital gains tax that could be up to, I think, 28%. And then what you're going to do, go and invest in Dubai. But do you know Dubai very well? In fact, a world champion, 4-time world champion boxer I went to see him and he wanted my advice on finances and he was going to sell everything, pay all the capital gains tax and go and buy in Dubai. But the problem is Dubai's really expensive. So your money probably just goes the same way. All right, you pay less tax, but Dubai's really expensive. So, you know, it takes you in one place where it gives in another. But also you don't know the Dubai property market and the Dubai legal system and what areas are hotspots in Dubai. So personally, I wouldn't sell buy-to-lets in the UK. I'd keep them. And here's the thing, in the UK we've got a really safe, secure, long-term property market. I know I just moaned about the scam of dual income households because I think that's a scam, and I'm going to talk about this stuff. But actually the legal system is good. When you own property, you own it. Properties do go up in value a lot in the UK, as you know if you are renting or if you own one. So actually still really good long-term prospect. Now if you're coming towards the end of the mortgage term, maybe you just renew a new mortgage. Um, but of course you're going to need to get a mortgage broker and it depends on your age, depends on the rate of interest and all these kinds of things. Um, but, um, I've got communities, I've got property communities if you want to ask about this. Um, yeah, so yes, it is money.school is the link. Someone's just asked what the link is. Um, and we do do property investing content inside money.school if you want to learn how to be an investor. Natasha said money.school is a brilliant platform. I highly recommend it. We actually have a 15-hour How to Raise Money Masterclass inside Money.School on all the private ways to raise finance without banks. And now we've got this new 6-week series on how to raise money from the banks. I was £50 grand in debt in 2006, and I've raised 1, 2, 3, 4, 5, 6 different private finance methods I've used, um, to build a portfolio of many tens of millions of pounds. So I can teach you how to do the same. So the link to join is money.school. Go there right now and claim all these special bonuses. Um, sometimes I don't keep the masterclasses in once they're finished because I kind of want to reward the fast action takers. So get in before I might take it out. And these masterclasses can't be bought anywhere else. You couldn't even pay me thousands of pounds for them. It's just inside money.school. Okay, so summary then is the biggest scam I believe in the housing market is dual income, mandatory now mortgages, where in order to buy a house you have to not prove just one income but two incomes. What about our children who aren't going to be raised properly anymore because both parents are at work? What about the 35 hours of discretionary free time that's been stolen from us because of increased taxation and forced up increased property prices? Seems really, really wrong to me. Not many people are talking about it. And you need to talk about it. And look, I speak out about these things and I do take risks, um, but I think it's really important to speak out. We should be able to have a family unit where the children are raised well and not both parents are working 50 hours a week. There's something really wrong there. And it used to be, um, it was 3— the property prices were 3 times salary. Now it's property prices 10 times salary. It's gotten out of control. Now look, I've benefited. I will throw my hands up. I've benefited because I've got 380 tenants in my property portfolio, but I've benefited because I made myself benefit from it because I realized that if I didn't do something about this myself and become an investor and play the banks at their own game and win and take control of my life, that I would be a victim in this position, forced to have me and my wife both working 60-hour weeks just to pay for a house. And what about our children? So I took control. And I did this 19 years ago. And it wasn't easy. But it's never too late to start, but it's always too late to wait.