Do not make the mistake of thinking that this means houses will become more affordable.
How old a building has to be to have so many chimneys per house?
A lot of people are about to realise that their house isn’t worth what the paid for it. But the government and the developers don’t care because they have made their money.
“Soft Landing”™ incoming.
Convicted criminal Christine Legarde of the ECB says we need to trust her when it comes to the future of the euro:
If the head of the ECB is clueless why should we bother with what the Irish Times is regurgitating on their behalf?
Collapse is inevitable and Europe and many of its member states are not only completely crypto broke but rely on artificially inflated and unsustainable house prices to store wealth.
The governments plan to exploit Ukrainians and suppress wages isn’t going to be enough, its just going to be cruel.
Soft landing incoming.
Look upon my work ye hopeless and despair.
Would now be a good time to sell an investment property?….to possibly buy back in years to come when prices soar again??
I see prices dipping in US…usually they are 1st….then eu follows.
Although supply of houses nowhere near demand yet so this should keep them proped up?
Thankfully the shared equity scheme is on its way to push prices out of reach again
Builders on 2k a week after tax. Celtic tiger 2.0
Saw this hinted at quite a bit at the start of the year so locked in a 5 year fixed rate. The hell is going on, everything everywhere all at once is going to hell in a hand basket and there’s no end in sight.
Locked into that 2.2 so fast.
Does this apply to Ireland? We haven’t seen the sharp increase in house prices that other European countries have. We have a housing shortage, but extremely restrictive central bank lending rules have manage to keep house price from shooting up like they have elsewhere.
I am still kicking myself I fixed for 5 years and not 10!
Oh, yes, please!
The quiet/unstated part of every interest rate rise:
Employment/wage level correction looming, as interest rates rise to crush worker bargaining power through unemployment.
If interest rates are rising, won’t it rise interest rates of bank saving accounts also?
Just submitted my application for 10 year fixed, hope it’s finalized soon. To quote John McClane “I’m starting to get a bad feeling up here”.
Having said that, I just bought a €400 radiator. It’s all a bit 2007-y isn’t it? It’s a nice radiator though. Very slick.
I wonder how relevant this is to Ireland. It’s patently obvious that we have a severe housing shortage.
If the global economy was generally strong, or at least the traditional destinations for Irish emigrants like Canada and Australia, then I’d be wary but as far as I can see, they have the same economic problems as everyone else.
Germany mentioned a lot in the article. They have a significantly different demographic outlook to Ireland due to their aging population. Article says the housing market is expected to peak in Germany in 2024. This reflects that their population is expected to peak around then too. We’re expecting population growth for years to come and off the back of a sever housing shortage.
The upshot as far as I can see is that we’re fcuked every which way. People will still want to buy houses, because of demand here the prices won’t drop, mortgages will cost way more because of interest rates rises, and wages will not keep pace with inflation – it’s only a matter of time until you’ll hear the great and the good talking about “national competitiveness”. This is a euphemism for keeping wages stagnant (which would be a reduction in real terms) and to keep the little people in their place and telling them to be happy with an ever decreasing share of the pie.
I am moving to Ireland in July, can wait to get involved in the housing crisis /s
I’m on a tracker, that’s still a good thing right?
I’m waiting til October til my fixed term is up. Please God don’t rise before then 🙁
23 comments
Do not make the mistake of thinking that this means houses will become more affordable.
How old a building has to be to have so many chimneys per house?
A lot of people are about to realise that their house isn’t worth what the paid for it. But the government and the developers don’t care because they have made their money.
“Soft Landing”™ incoming.
Convicted criminal Christine Legarde of the ECB says we need to trust her when it comes to the future of the euro:
https://old.reddit.com/r/Bitcoin/comments/uxn9q4/watch_christine_lagarde_of_ecb_being_questioned/
If the head of the ECB is clueless why should we bother with what the Irish Times is regurgitating on their behalf?
Collapse is inevitable and Europe and many of its member states are not only completely crypto broke but rely on artificially inflated and unsustainable house prices to store wealth.
The governments plan to exploit Ukrainians and suppress wages isn’t going to be enough, its just going to be cruel.
Soft landing incoming.
Look upon my work ye hopeless and despair.
Would now be a good time to sell an investment property?….to possibly buy back in years to come when prices soar again??
I see prices dipping in US…usually they are 1st….then eu follows.
Although supply of houses nowhere near demand yet so this should keep them proped up?
Thankfully the shared equity scheme is on its way to push prices out of reach again
Builders on 2k a week after tax. Celtic tiger 2.0
Saw this hinted at quite a bit at the start of the year so locked in a 5 year fixed rate. The hell is going on, everything everywhere all at once is going to hell in a hand basket and there’s no end in sight.
Locked into that 2.2 so fast.
Does this apply to Ireland? We haven’t seen the sharp increase in house prices that other European countries have. We have a housing shortage, but extremely restrictive central bank lending rules have manage to keep house price from shooting up like they have elsewhere.
I am still kicking myself I fixed for 5 years and not 10!
Oh, yes, please!
The quiet/unstated part of every interest rate rise:
Employment/wage level correction looming, as interest rates rise to crush worker bargaining power through unemployment.
If interest rates are rising, won’t it rise interest rates of bank saving accounts also?
Just submitted my application for 10 year fixed, hope it’s finalized soon. To quote John McClane “I’m starting to get a bad feeling up here”.
Having said that, I just bought a €400 radiator. It’s all a bit 2007-y isn’t it? It’s a nice radiator though. Very slick.
I wonder how relevant this is to Ireland. It’s patently obvious that we have a severe housing shortage.
If the global economy was generally strong, or at least the traditional destinations for Irish emigrants like Canada and Australia, then I’d be wary but as far as I can see, they have the same economic problems as everyone else.
Germany mentioned a lot in the article. They have a significantly different demographic outlook to Ireland due to their aging population. Article says the housing market is expected to peak in Germany in 2024. This reflects that their population is expected to peak around then too. We’re expecting population growth for years to come and off the back of a sever housing shortage.
The upshot as far as I can see is that we’re fcuked every which way. People will still want to buy houses, because of demand here the prices won’t drop, mortgages will cost way more because of interest rates rises, and wages will not keep pace with inflation – it’s only a matter of time until you’ll hear the great and the good talking about “national competitiveness”. This is a euphemism for keeping wages stagnant (which would be a reduction in real terms) and to keep the little people in their place and telling them to be happy with an ever decreasing share of the pie.
I am moving to Ireland in July, can wait to get involved in the housing crisis /s
I’m on a tracker, that’s still a good thing right?
I’m waiting til October til my fixed term is up. Please God don’t rise before then 🙁