6
You’re wrong mate. I read it in the paper. I’d worried that if young people in Dublin wait any longer to get their foot on the property ladder they could find themselves priced out of the market. They’ll have to move quick.
The aim is 50,000 per year back to work so add that to around 100,000 per year legging it off to live the dream, we should have full employment again within 3 years.
All Hail Enda!
Ah right , apologies pal…
CHARGE!
All the ballsy people are buying up property
The ballsy guys have been balls deep in property for 2 years mate. People with foresight.
Not a bubble:
- Very low volumes in context of overall housing stock, population and previous activity
- Largely cash transactions or substantially cash (i.e. v high deposits), this is reflected in very low mortgage volumes
- Prices are still down approx 50% from their peak, they’ve increased but only off a very low base and are probably still not reflective of some incomes in Dublin.
Don’t forget, if house prices dropped 50% from peak they need to increase 200% to get back to the same point.
No doubt it’s a two-speed recovery though. Dublin is in a mini-boom at the moment in terms of general business activity and confidence. I don’t think you could say the same for most of the rest of the country.
[quote=“tallback, post: 866978, member: 1158”]Not a bubble:
- Very low volumes in context of overall housing stock, population and previous activity
- Largely cash transactions or substantially cash (i.e. v high deposits), this is reflected in very low mortgage volumes
- Prices are still down approx 50% from their peak, they’ve increased but only off a very low base and are probably still not reflective of some incomes in Dublin.
Don’t forget, if house prices dropped 50% from peak they need to increase 200% to get back to the same point.
No doubt it’s a two-speed recovery though. Dublin is in a mini-boom at the moment in terms of general business activity and confidence. I don’t think you could say the same for most of the rest of the country.[/quote]
If the banks were repossessing houses heavily in arrears, especially second homes, as they should be, there would be a lot more properties on the market and more realistic prices.
Agreed. That will happen over time too.
Yeah, and then people wouldn’t have to live in 40 year old council houses any more.
A big issue in Dublin is there has been no construction for about 5 years and no/very little construction of houses for 12 years as apartments generated more profit. Number of new households each year is therefore not being matched to new homes being built. This is also seen in huge spike in rents in Dublin.
Sooner the better, toss the fuckers out
Well, whatever about owner-occupier cases where there’s a lot of genuine hard cases I don’t think many people should feel sympathy for wannabe property magnates who bought a second apt or house during the boom and now can’t or won’t pay the mortgage. Anectodal evidence would suggest in some cases the rent from those properties is being used to support the owners lifestyle while they’re not paying the mortgage. If there are cases of strategic default, this is the sector from which it’s from I’d say.
Fuck em all. I pay my mortgage, you should pay yours. Don’t buy/build a ridiculous fucking mansion if you can’t afford it. Move on, live within your means.
53,414 posts later and finally one that I can agree with.
Bullshitter
Don’t be so harsh on yourself mate
I’m amazed that someone can rack up 54k odd posts and still manage to pay a mortgage. What are you, a fully paid professional TFK poster?
No. And I’d say the list of what amazes you is incredibly long.