In before some houseowner comes in to tell us that even if prices crash YOU won’t get a mortgage because the bank won’t lend.
Even if it does crash you won’t get a mortgage because the banks won’t lend. I know, I’m a house owner.
God bless the people that think another crash will help them get on the property ladder. Housing transactions ground to a hault in the last one, nobody was buying because nobody was selling.
A crash might happen, but don’t let that be your only plan for buying a place. It’s never been harder but getting a house is still a possibility.
Look for ways to maximize your income. Keep saving whatever you can regularly. It might take years but keep building it up. As soon as I had a bit of money in savings, it was a huge motivator to keep putting the money away. Don’t stop saving when you reach your deposit target.
Get your approval as soon as you have a deposit. Be ready for opportunities when they come up.
We currently have a lack or supply. That’s why most people can’t afford.
Other than a massive increase in supply suddenly coming into the market (not going to happen), the only way that prices will drop is if demand significantly drops.
If you think about that for a second, it means that even fewer people than now will be able to afford a house. So if you can’t afford to buy now and house prices go down without supply increasing, that mean you’ll be even less able to afford a house.
It’ll be well off people who can afford to pay higher interest rates who’ll be able to take advantage of this, not the average person.
That was older millennial me between 2008 and Dec 2012 (when I took the plunge)
This is exactly what me and my girlfriend are holding off buying for.
I have a sister who bought at the peak of the Celtic Tiger. She is still in negative equity. I am 31, saving for a house. I can only speak for myself but I’d be terrified I buy the top of a bubble.
It isn’t going to crash until the supply issue is fixed. Low supply, high demand = massive prices. It’s just a fact.
Where’s the rope and chair?
Every shop in every town in Ireland has unused space above it that could be converted to apartment accommodation and provide somewhere for people to live as well as rejuvenate town centres. I’d love to see more of these being developed into living spaces.
The signs are there. Maybe early next year we’ll see figures that show a drop in prices
Wouldn’t be able to afford one even if it did collapse, not that the banks would give you a mortgage anyway.
People like OP waiting for the market to collapse don’t realise that they’ll most likely end up unemployed and not able to buy as result. My motto is buy whenever the fuck you can and stop hoping the prices drop as they may never drop like we seen before.
If they do drop stop whining and live in your home.
Also gen-z. I just graduated college. Will I ever move out of my parents’ house?
As a millenial moving into their first house in the next month or two, I can guarantee I paid way over the odds and will be in negative equity the rest of my life.
Best I can do is 4 times your salary mortgage.
Wouldn’t building tall 10+ storey apartments relieve the problem? Yes they are not as appealing or comfy as houses, but they would reduce supply demand until new houses can catch up.
Fuck comfort at this point. If building wide doesn’t work, we should start building up. The only people who are holding us back are cultural farts who rather be homeless than ruin the classic Irish image that all families should live in their own separate home.
Your lives are on hold until you get FFG out of power, permanently.
They will happily have you live the rest of your lives as rent-paying serfs – happily see you homeless on the streets and/or dead, both to keep the ~~crisis~~ jackpot going and as an example to other workers.
In a country where workers had more self respect, they’d be turfed out of office through General Strikes and massive protests and/or rioting (would not condone the last, but the lack of it shows that people aren’t incandescently pissed off enough, in proportion to how badly their entire lives are being fucked by this government…).
It is not going to happen as long as most older people have their wealth and pensions tied to their house prices rising.
Edit: Are ye downvoting because you think it is not true or just because you don’t like the answer?
I don’t see it happening 😕 it’s different than 2008. Housing market is backed by vulture money now.
Reminder that when it collapsed last time, the desirable areas plateaued and the suburbs and already depressed inner cities were what collapsed.
Best we can do is save like hell and ensure you have a pension plan, plus some liquid exposure to the markets.
It’s 👏 not 👏 a 👏bubble 👏 it’s 👏 a 👏 lack 👏 of 👏 supply
I previously was looking forward to the crash
But I then i realised it won’t be me getting in on the market, it’ll be hedgefunds, developers, foreign markets buying up even more of the properties
And it’ll be 10x worse in 10 years time
Building size should go in reverse order 😏
Oh man, I used to love white ninja comics!
Gen Z too
Yea. I have a house. I’m 32 but we weren’t offered 100% mortgages so very little actually have their own houses so shut the fuck up.
All the neckbeards in their mams spare room like to dream.
31 comments
In before some houseowner comes in to tell us that even if prices crash YOU won’t get a mortgage because the bank won’t lend.
Even if it does crash you won’t get a mortgage because the banks won’t lend. I know, I’m a house owner.
God bless the people that think another crash will help them get on the property ladder. Housing transactions ground to a hault in the last one, nobody was buying because nobody was selling.
A crash might happen, but don’t let that be your only plan for buying a place. It’s never been harder but getting a house is still a possibility.
Look for ways to maximize your income. Keep saving whatever you can regularly. It might take years but keep building it up. As soon as I had a bit of money in savings, it was a huge motivator to keep putting the money away. Don’t stop saving when you reach your deposit target.
Get your approval as soon as you have a deposit. Be ready for opportunities when they come up.
We currently have a lack or supply. That’s why most people can’t afford.
Other than a massive increase in supply suddenly coming into the market (not going to happen), the only way that prices will drop is if demand significantly drops.
If you think about that for a second, it means that even fewer people than now will be able to afford a house. So if you can’t afford to buy now and house prices go down without supply increasing, that mean you’ll be even less able to afford a house.
It’ll be well off people who can afford to pay higher interest rates who’ll be able to take advantage of this, not the average person.
That was older millennial me between 2008 and Dec 2012 (when I took the plunge)
This is exactly what me and my girlfriend are holding off buying for.
I have a sister who bought at the peak of the Celtic Tiger. She is still in negative equity. I am 31, saving for a house. I can only speak for myself but I’d be terrified I buy the top of a bubble.
It isn’t going to crash until the supply issue is fixed. Low supply, high demand = massive prices. It’s just a fact.
Where’s the rope and chair?
Every shop in every town in Ireland has unused space above it that could be converted to apartment accommodation and provide somewhere for people to live as well as rejuvenate town centres. I’d love to see more of these being developed into living spaces.
The signs are there. Maybe early next year we’ll see figures that show a drop in prices
Wouldn’t be able to afford one even if it did collapse, not that the banks would give you a mortgage anyway.
People like OP waiting for the market to collapse don’t realise that they’ll most likely end up unemployed and not able to buy as result. My motto is buy whenever the fuck you can and stop hoping the prices drop as they may never drop like we seen before.
If they do drop stop whining and live in your home.
Also gen-z. I just graduated college. Will I ever move out of my parents’ house?
As a millenial moving into their first house in the next month or two, I can guarantee I paid way over the odds and will be in negative equity the rest of my life.
Best I can do is 4 times your salary mortgage.
Wouldn’t building tall 10+ storey apartments relieve the problem? Yes they are not as appealing or comfy as houses, but they would reduce supply demand until new houses can catch up.
Fuck comfort at this point. If building wide doesn’t work, we should start building up. The only people who are holding us back are cultural farts who rather be homeless than ruin the classic Irish image that all families should live in their own separate home.
Your lives are on hold until you get FFG out of power, permanently.
They will happily have you live the rest of your lives as rent-paying serfs – happily see you homeless on the streets and/or dead, both to keep the ~~crisis~~ jackpot going and as an example to other workers.
In a country where workers had more self respect, they’d be turfed out of office through General Strikes and massive protests and/or rioting (would not condone the last, but the lack of it shows that people aren’t incandescently pissed off enough, in proportion to how badly their entire lives are being fucked by this government…).
It is not going to happen as long as most older people have their wealth and pensions tied to their house prices rising.
Edit: Are ye downvoting because you think it is not true or just because you don’t like the answer?
I don’t see it happening 😕 it’s different than 2008. Housing market is backed by vulture money now.
Reminder that when it collapsed last time, the desirable areas plateaued and the suburbs and already depressed inner cities were what collapsed.
Best we can do is save like hell and ensure you have a pension plan, plus some liquid exposure to the markets.
It’s 👏 not 👏 a 👏bubble 👏 it’s 👏 a 👏 lack 👏 of 👏 supply
I previously was looking forward to the crash
But I then i realised it won’t be me getting in on the market, it’ll be hedgefunds, developers, foreign markets buying up even more of the properties
And it’ll be 10x worse in 10 years time
Building size should go in reverse order 😏
Oh man, I used to love white ninja comics!
Gen Z too
Yea. I have a house. I’m 32 but we weren’t offered 100% mortgages so very little actually have their own houses so shut the fuck up.
All the neckbeards in their mams spare room like to dream.
Tomorrow