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Finance Fridays - Issue #7

Finance Fridays - Issue #7

UK’s Housing Price Crash, Attending Job Fairs and YouTube Side Hustle

Seyi Agboola
February 16, 2024

#7 - Finance Fridays - UK’s Housing Price Crash, Attending Job Fairs and YouTube Side Hustle

This is the Reality Cheque’s newsletter where I document my journey to financial freedom through learning more about personal finance. Every week expect curated content on personal finance, career advice and entrepreneurship. And the best part is it'll always be less than 5 minutes to read!

💡 How close are we to a Housing Crash in the UK?

In case you were curious to what it would take for a housing crash to happen, I did some digging.

What % decrease would be considered a House Price Crash?

https://www.schroders.com/en-gb/uk/individual/insights/what-174-years-of-data-tell-us-about-house-price-affordability-in-the-uk/

During the last House Price Crash average prices in the U.K fell by -15.60% between February 2008 and February 2009. Compared that to nowadays, where in 2023, Halifax reported the UK housing market fell by 2.6% within the year to June. ONS reported only an average price drop by 0.1% year on year in September, with those in London decreasing 1.1%. We are so far off from a house price crash even though the last time house prices were this expensive relative to average earnings was in the year 1876, nearly 150 years ago.

Unlike previous house price crashes, the shortage in supply versus demand that we are seeing today means that we are also unlikely to see the same decline in house prices like we did in the 2008 financial crash. And even if house prices crash in 2026 as predicted by the 18-year cycle. It would do little to offset the 20% increase in house prices between now and 2026.

Are you waiting for a house crash?

Without new supply the housing crash will never happen, just stagnation or further increases. The UK government’s track record in meeting house building targets doesn’t provide much faith that that will change any time soon.

So do you think a housing crash is likely or will prices rise into the stratosphere indefinitely?

💻 The Missing Ingredient From Your Current Job Search

The job market has seen better days especially for developers and managers. With companies anticipating a recession in 2024, growing their headcount is no longer a top priority.

If you're struggling to get into a new role or industry. You may want to get offline and attend a job fair. If you do, here are 7 questions to ask at a job fair to have a productive attendance.

1. What questions would you ask in an interview?

2. What task would you give interview candidates?

3. What part of my previous experience would be most relevant?

4. If I did an online course in this area would that make you consider my application in place for my lack of experience?

5. What is the salary range right now?

6. What skills and experience matter the most for this role?

7. Could you take a quick look at my CV and provide feedback for improvement?

Even if you don’t land any job offers, the live feedback from recruiters and people in the industry will massively improve your job applications. Given the prevalence of Indeed and LinkedIn, I think Job Fairs are an underrated way to improve your chances of securing a new job role.

🥗Side Hustle of the Week (YouTuber)

1. Hours per week ⭐️

2. Skill required ⭐️

3. Up front cost ⭐️⭐️

4. Market saturation ⭐️

5. Timeline to reach success ⭐️

6. Income potential ⭐️⭐️⭐️

Youtubers are one of the most lucrative online professions and for good reason. You can build a community of loyal fans, generate multiple streams of income and generate passive forms of income once you reach a certain tipping point. But the market is absolutely saturated which doesn’t mean you shouldn’t attempt it. Just that you need a super specific niche and a high level of dedication to stick at it for the long term.