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Too late to buy?

  • 20-04-2016 10:54pm
    #1
    tendjose
    Registered Users, Registered Users 2 Posts: 295 ✭✭


    Hi,

    There were times when property prices were at peak, and times when then were at their lowest.

    So let's say the peak was in 2010 and the lowest values were in 2014.

    Now there is the opposite. Since 2014 the prices have been increasing and some day they will reach the peak again.

    I have a feeling and I might be wrong that we are already at 60% of the peak prices, and I wouldn't like to buy in a time frame where the prices are higher than 50% of the peak prices.

    Am I right on my feeling?

    Thanks


Comments

  • #2
    NIMAN
    Registered Users, Registered Users 2 Posts: 34,679 ✭✭✭✭NIMAN


    Depends where you are talking about. I assume Dublin?

    Certainly the prices aren't rising in all parts of the country. Still some bargains to be had.

    I would worry about the Dublin housing market. It is showing all the signs of another bubble forming, and should the world slump happen that many experts are predicting, it could lead to another crash in housing prices.


  • #3
    tendjose
    Registered Users, Registered Users 2 Posts: 295 ✭✭tendjose


    NIMAN wrote: »
    Depends where you are talking about. I assume Dublin?

    Certainly the prices aren't rising in all parts of the country. Still some bargains to be had.

    I would worry about the Dublin housing market. It is showing all the signs of another bubble forming, and should the world slump happen that many experts are predicting, it could lead to another crash in housing prices.

    Yes it's in Dublin, and I have the feeling that the bubble is already at 60% of it's size. That's why I'm afraid of being late...


  • #4
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,957 Admin ✭✭✭✭✭Toots


    I think it depends on whether you're buying with the intention of selling again in a few years or if you're buying a 'forever' home that you'll live in the rest of your life.


  • #5
    NIMAN
    Registered Users, Registered Users 2 Posts: 34,679 ✭✭✭✭NIMAN


    If there was to be another world slump, Dublin prices may already be past their 'peak'.

    The house market is a hard thing to predict. They might be already too high, it might be a great time to buy if you plan to sell next year or the year after. Who knows?


  • #6
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,856 Mod ✭✭✭✭Henry Ford III


    Impossible to call any market accurately, but it seems to me that there's little or no value in Dublin currently. The scarcity of credit is certainly a factor, as is shortness of supply.

    There was a time that domestic house values went up pretty much with inflation.

    That all changed and values are now much more volatile.


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  • #7
    NIMAN
    Registered Users, Registered Users 2 Posts: 34,679 ✭✭✭✭NIMAN


    I would be careful of anyone thinking with the logic "I must buy now (no matter the price) or else I will be left behind".

    Many of those who thought like that back between 2006 - 2009 are now bust, in debt to their eyeballs or have lost their homes.


  • #8
    tendjose
    Registered Users, Registered Users 2 Posts: 295 ✭✭tendjose


    NIMAN wrote: »
    I would be careful of anyone thinking with the logic "I must buy now (no matter the price) or else I will be left behind".

    Many of those who thought like that back between 2006 - 2009 are now bust, in debt to their eyeballs or have lost their homes.
    How did they loose their homes? If their house was bought by 250k, with the bubble maybe it went to 400k, with the pop of the bubble maybe it went to 100k, but if they stick to the house at this moment it should already value 280k, so I don't see why if just because a bubble pops, people will need to sell their houses....


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