One can use all the money shooting out of those chimneys as a deposit thus reinforcing the positive price change cycle.
selling an ex council house for three quarters of a million just shows how criminally negligent the government has been in regard to housing.
Don’t worry, I’ll buy one and the prices will crash to never before seen levels.
5, 4, 3, 2, 1 ……….!
Ah yes, ‘experts’. Thank god for their views….
Water can’t go past its boiiling point , but houses are going to keep rising, because fuck us, that’s why.
Still waiting for some adults to discuss immigration relative to the housing crisis. Seems we’ll plough any furrow but that one.
The next few years will tell alot.
House prices are still not that high relative to salaries by international standards. I’d say they’ll keep rising.
Every year people’s wages generally go up to match inflation. Say that’s a 1/2% wage. That gives 1/2% more borrowing power in a time when max borrowing dictates the prices as we’re in a shortage. Thus the answer is no, they haven’t
I’ve finally just bought a house, so the crash is probably gonna happen any day now.
We had like a surplus of 8 billion last year in our bugets. I see plenty of offices being built yet no housing
In short, the only way prices will fall is through a reduction in demand. That’s it. No external deus-ex-machina is going to wave a wand and reduce prices. You could say it wad an external factor that crashed prices in 2008 but that factor restricted access to credit, it didn’t reduce demand. Demand fell because, without a mortgage, buyers couldn’t buy. That’s what reduced demand.
On a separate note, I find this quote a bit weird: “When the last crash happened there were no checks or balances on borrowers’ repayment capacity. The banks now stress-test mortgages by 2pc so even if rates go up by 2pc, people can still afford it”
I was a mortgage broker between 2006 and 2008. I know banks were throwing out money to all comers but the 2pc stress test was VERY much a thing even then so I’m not sure what this chap is smoking
But who will be able to afford to buy all these houses, it can’t all be property firms looking to rent long and short term, local authorities, wealthy parents for their kids and large companies for their employees.
Note: I started writing it and realised I answered my own question. It really can be a lot of properties but not all of them.
Only two ways house prices will drop. We see a massive drop in demand, or we see a massive increase in builds.
The first won’t happen unless a much bigger percentage of people start emigrating.
That leaves the second which would require a fuck ton more builders which is the main bottle neck.
I’ve a brother doing an apprenticeship at the moment and his company had to delay his start for a year because they could only get so many people into the colleges.
So we need to expand the colleges significantly and possibly offer some better incentives to get people into the trades.
We are currently suffering because the before the crash parents were discouraging their kids from doing an apprenticeship rather than college and then when the crash happened there was not enough work for current trades so new people didn’t go Into it.
We should also probably be working in encouraging more women and other under represented groups to pursue trades which would require a massive overhaul of the attitudes in the trades.
As somebody who was a housing director for 25 years.I’d like to talk to you about something that many people do not know about. The cost of buildings a house has increased by about ninety five percent since nineteen ninety eight. This means that by twenty twenty five only about twenty five thousand irish people will be able to own a container home. Me and my colleagues have sent a draft proposal so that Irish people can get planned permission to turn Skips Into housing
Can someone summarise the points in the article? Can’t read it because of the paywall.
An article all from vested interests talking up the property market. I’ve definitely seen this story before
No worries, I m sale agreed now, it ll crash 30% as soon as i close.
I think they are still cheap compared to NL, AUS, southeast England. But quality is also poor.
I think they are still cheap compared to NL, AUS, southeast England. But quality is also poor.
The truth is that the decline in housing prices in 2008-2012 was OTT.
The acceleration before that was also OTT, but the reality is that we were becoming a dual income and well off economy before 2008 (with some fat on incomes for sure).
Prices should have dropped by maybe 20%, not what they did.
The Central Bank have kept a lid on prices in the last decade as the Irish economy stormed back, by inputting some of the hardest borrowing rules in the world. Only now are they back at CT levels.
I find what exacerbates frustration is knowing that 10 years ago you could get property for a song. I know that when I was in college there was this weird attitude there that we all had no future and property wouldn’t come back. I wasn’t really focused on stuff as the economy was the pits. I quite regret not realising that we were living through a sustained deliberate depression that was OTT.
I think they are still cheap compared to NL, AUS, southeast England. But quality is also poor.
Foreign investors should not be allowed buy Irish houses. There should be a residency rule in place.
Foreign investors should not be allowed buy Irish houses. There should be a residency rule in place.
Irish house prices are so cheap by European standards. There’s waaaaaay more to go. But the good news is that we have loads of scope for building in Ireland as we’ve such sparse current builds. That won’t lower prices, but it will mean most people get a chance to get on board.
No, we are relaxing the lending rules to prevent that.
“Parental gifts are not as prevalent as they were two or three years ago because people’s incomes are sufficient and they can now get four times salary as first-time buyers.”
No, that would mean that there is enough supply, otherwise people would get the increased mortgage AND the gift and increase the price. What is happening is that the bank of Ma&Pa is bust. They are leveraged and it costs them money to give out that gift. They are leveraged, they still have their own mortgage to pay (and the rate went up) so they do not give out gifts as they used to.
It’s a scam certainly but eventually greed always eata itself from the inside. That’s the beauty of it.
If we increase the pressure, we increase the boiling point. Eventually as the housing market overheats the pressure goes so high that steam and water are almost indistinguiseable and the housing market goes supercritical, endlessly accelerating prices.
We do not know how high the house prices went. All we know is the final reading. Al council house that had been valued at 20,000 punt, went beyond five hundred thousand…
Pressure in the market can no longer be held back. At long last we have arrive 23/01/25 – Explosion. In the instant, the lid is thrown off the market, foreign capital rushes in. It combines with neoliberalism and superheated politics. The chain of disaster is complete.
Kaboom.
We’ll all be left with red faces when this explodes.
Boiling point?
Hardly, have you seen the price of heating these days?
31 comments
TL;DR – no. House prices go zoom.
One can use all the money shooting out of those chimneys as a deposit thus reinforcing the positive price change cycle.
selling an ex council house for three quarters of a million just shows how criminally negligent the government has been in regard to housing.
Don’t worry, I’ll buy one and the prices will crash to never before seen levels.
5, 4, 3, 2, 1 ……….!
Ah yes, ‘experts’. Thank god for their views….
Water can’t go past its boiiling point , but houses are going to keep rising, because fuck us, that’s why.
Still waiting for some adults to discuss immigration relative to the housing crisis. Seems we’ll plough any furrow but that one.
The next few years will tell alot.
House prices are still not that high relative to salaries by international standards. I’d say they’ll keep rising.
Every year people’s wages generally go up to match inflation. Say that’s a 1/2% wage. That gives 1/2% more borrowing power in a time when max borrowing dictates the prices as we’re in a shortage. Thus the answer is no, they haven’t
I’ve finally just bought a house, so the crash is probably gonna happen any day now.
We had like a surplus of 8 billion last year in our bugets. I see plenty of offices being built yet no housing
In short, the only way prices will fall is through a reduction in demand. That’s it. No external deus-ex-machina is going to wave a wand and reduce prices. You could say it wad an external factor that crashed prices in 2008 but that factor restricted access to credit, it didn’t reduce demand. Demand fell because, without a mortgage, buyers couldn’t buy. That’s what reduced demand.
On a separate note, I find this quote a bit weird: “When the last crash happened there were no checks or balances on borrowers’ repayment capacity. The banks now stress-test mortgages by 2pc so even if rates go up by 2pc, people can still afford it”
I was a mortgage broker between 2006 and 2008. I know banks were throwing out money to all comers but the 2pc stress test was VERY much a thing even then so I’m not sure what this chap is smoking
But who will be able to afford to buy all these houses, it can’t all be property firms looking to rent long and short term, local authorities, wealthy parents for their kids and large companies for their employees.
Note: I started writing it and realised I answered my own question. It really can be a lot of properties but not all of them.
Only two ways house prices will drop. We see a massive drop in demand, or we see a massive increase in builds.
The first won’t happen unless a much bigger percentage of people start emigrating.
That leaves the second which would require a fuck ton more builders which is the main bottle neck.
I’ve a brother doing an apprenticeship at the moment and his company had to delay his start for a year because they could only get so many people into the colleges.
So we need to expand the colleges significantly and possibly offer some better incentives to get people into the trades.
We are currently suffering because the before the crash parents were discouraging their kids from doing an apprenticeship rather than college and then when the crash happened there was not enough work for current trades so new people didn’t go Into it.
We should also probably be working in encouraging more women and other under represented groups to pursue trades which would require a massive overhaul of the attitudes in the trades.
As somebody who was a housing director for 25 years.I’d like to talk to you about something that many people do not know about. The cost of buildings a house has increased by about ninety five percent since nineteen ninety eight. This means that by twenty twenty five only about twenty five thousand irish people will be able to own a container home. Me and my colleagues have sent a draft proposal so that Irish people can get planned permission to turn Skips Into housing
Can someone summarise the points in the article? Can’t read it because of the paywall.
An article all from vested interests talking up the property market. I’ve definitely seen this story before
No worries, I m sale agreed now, it ll crash 30% as soon as i close.
I think they are still cheap compared to NL, AUS, southeast England. But quality is also poor.
I think they are still cheap compared to NL, AUS, southeast England. But quality is also poor.
The truth is that the decline in housing prices in 2008-2012 was OTT.
The acceleration before that was also OTT, but the reality is that we were becoming a dual income and well off economy before 2008 (with some fat on incomes for sure).
Prices should have dropped by maybe 20%, not what they did.
The Central Bank have kept a lid on prices in the last decade as the Irish economy stormed back, by inputting some of the hardest borrowing rules in the world. Only now are they back at CT levels.
I find what exacerbates frustration is knowing that 10 years ago you could get property for a song. I know that when I was in college there was this weird attitude there that we all had no future and property wouldn’t come back. I wasn’t really focused on stuff as the economy was the pits. I quite regret not realising that we were living through a sustained deliberate depression that was OTT.
I think they are still cheap compared to NL, AUS, southeast England. But quality is also poor.
Foreign investors should not be allowed buy Irish houses. There should be a residency rule in place.
Foreign investors should not be allowed buy Irish houses. There should be a residency rule in place.
Irish house prices are so cheap by European standards. There’s waaaaaay more to go. But the good news is that we have loads of scope for building in Ireland as we’ve such sparse current builds. That won’t lower prices, but it will mean most people get a chance to get on board.
No, we are relaxing the lending rules to prevent that.
“Parental gifts are not as prevalent as they were two or three years ago because people’s incomes are sufficient and they can now get four times salary as first-time buyers.”
No, that would mean that there is enough supply, otherwise people would get the increased mortgage AND the gift and increase the price. What is happening is that the bank of Ma&Pa is bust. They are leveraged and it costs them money to give out that gift. They are leveraged, they still have their own mortgage to pay (and the rate went up) so they do not give out gifts as they used to.
It’s a scam certainly but eventually greed always eata itself from the inside. That’s the beauty of it.
If we increase the pressure, we increase the boiling point. Eventually as the housing market overheats the pressure goes so high that steam and water are almost indistinguiseable and the housing market goes supercritical, endlessly accelerating prices.
We do not know how high the house prices went. All we know is the final reading. Al council house that had been valued at 20,000 punt, went beyond five hundred thousand…
Pressure in the market can no longer be held back. At long last we have arrive 23/01/25 – Explosion. In the instant, the lid is thrown off the market, foreign capital rushes in. It combines with neoliberalism and superheated politics. The chain of disaster is complete.
Kaboom.
We’ll all be left with red faces when this explodes.
Boiling point?
Hardly, have you seen the price of heating these days?