The madness has returned

gaius c

Cuddlesworth wrote: »

Thats because a DCB actually has its roots in stocks not property, of which there are plenty of examples. But the principal remains the same and has been seen on the more macro economic scales, hence why its brought in here.

TBH, after seeing some of the hysteria involving houses in Dublin recently I think it would be hard to say we are not likely to see another larger crash. It's not something I want to see, since it will most likely involve another bailout. But if we do see continual 6% annual growth in prices, where do you think the money is going to keep coming from?

So it can't be a DCB because it's a property market where people buy houses to live in? Did you mean all the flippers buying off the plans and the speculators jumping into the market for monetary gain, not putting a roof over their heads?

MYOB wrote: »

Last time I had the level of recruiters hounding me as I do now was 2006 - plenty of opportunities in certain sectors.

I'm getting plenty of phone calls too and it's all contract roles and they are all paying the same money as I'm getting in my nice permanent job, i.e. I'm not going anywhere and neither will anyone else who isn't completely desperate for work.

Cuddlesworth

gaius c wrote: »

So it can't be a DCB because it's a property market where people buy houses to live in? Did you mean all the flippers buying off the plans and the speculators jumping into the market for monetary gain, not putting a roof over their heads?

Stock patterns can be measured in terms of millicents on the microsecond or be based off long term. The property market is still a market, it tends to follow the same patterns. Hence the collapse in price in the first place.

gaius c wrote: »

I'm getting plenty of phone calls too and it's all contract roles and they are all paying the same money as I'm getting in my nice permanent job, i.e. I'm not going anywhere and neither will anyone else who isn't completely desperate for work.

Funny you should say that. I'm in a good well paid job at a young age. And I broached talks today about leaving the country. Property is the largest single cost in my life and I don't like where things are heading here.

gaius c

You've come halfway to the right answer. The property market is awash with amateur investors like the stock market but unlike the stock market, it's not liquid and it takes quite a while for corrections to happen with significant impediments to quick corrections (you can't short sell a house for instance).

My wife spent over two years out of work. The only reason we stayed was because I had a fairly safe job and because I've been promoted (in exchange for ever longer hours). Meanwhile, the recruiters ringing me seem aghast that I'm not jumping at their "fantastic opportunity" to become self employed for the same money as I'm already on with all the attendant costs and risks associated. In other words, the jobs market is still pretty depressed in my sector and contracting rates are down 30-40% from mid noughties rates.

If you need to go abroad, good luck with it mate! Have you got family as well?

Cuddlesworth

No children, nothing tying me to the country at the moment.

NinjaTruncs

I'm not sure if it has already been mentioned in this thread but the house in the OP has gone sale agreed. it will be interesting what price it achieved.