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    #122
    Amirani
    Moderators, Society & Culture Moderators Posts: 12,521 Mod ✭✭✭✭Amirani


    GreeBo wrote: »
    You can't usually bring that much back so I dont think its that.

    Why would you not be able to bring back your earned income from outside Ireland?


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    #123
    Balf
    Closed Accounts Posts: 667 ✭✭✭Balf


    fergus1001 wrote: »
    prices are stagnating also because of the central bank restrictions on loan to income ratios, prices can only go so far untill there is nobody to buy them
    Presumably prices would have gone even higher without CB rules, but is it worth noting again that most of the increased demand in recent years isn't financed by mortgages.
    https://igees.gov.ie/wp-content/uploads/2019/01/The-Context-for-NDP-Housing-Spend.pdf

    In 2010, BFPI report mortgage drawdowns (for all purposes, including re-mortgages) to amount to over €4.7 billion. By 2017, mortgage drawdowns increased by about €2.5 billion; residential property spend increased by almost €9.5 billion in the same period.

    This suggests that the growth in the size of the market is chiefly driven by funds that are not raised through mortgage lending reported by BPFI.
    For example, the Property Price Register has transactions totallying €14.5 billion for 2017. Total mortgage drawdowns for 2017 (including re-mortgages) amount to €7.3 billion. That suggests half of total spend was financed by some other - unknown - source.


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    #124
    Nobodysrobots
    Registered Users Posts: 51 ✭✭Nobodysrobots


    Balf wrote: »
    Presumably prices would have gone even higher without CB rules, but is it worth noting again that most of the increased demand in recent years isn't financed by mortgages.For example, the Property Price Register has transactions totallying €14.5 billion for 2017. Total mortgage drawdowns for 2017 (including re-mortgages) amount to €7.3 billion. That suggests half of total spend was financed by some other - unknown - source.


    Very interesting stats. Unlikely to be investment money, meaning people in this country have a lot more money than we think. You could explain at least 10%-20% difference in transaction total and mortgage drawdown because of deposit requirements, but not 50%.


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