2021 Irish Property Market chat - *mod warnings post 1*

Villa05

PropQueries wrote:

Well, the state can compulsory purchase my property for a cycle path in the middle of nowhere i.e. greenways.

Aahh the green wave, what a disappointment they are

cnocbui wrote:

Wouldn't that little move cost someone about €10k down the drain for a trade down?

I assume your referring to buying/selling costs. Many of those costs are state imposed. If the state was serious about efficient use of property, many of these fees could be removed, but that wouldn't put money in private business pockets.

I don't know how many times I've seen a family buy a home and strip it of the mobility aides and dumped them in a skip. All of them are installed grant aided by the state. How apt

Would it not make more sense to have a portion of housing stock set aside for the frail immobile.
We can't do that I suppose bcos reits won't buy them

JimmyVik wrote:

And if they ever want their kids or grandchildren to stay over. There is always the shed, or a tent, until people scream for them to be taxed.,

Nobody is forcing, if that's important to you, fine,

MacronvFrugals

HSBC to slash post-Covid office space by 40% as profits drop by a third

HSBC is to reduce its office space around the world by nearly 40% as part of sweeping cost cutting designed to capitalise on new part-office-part-homeworking arrangements after the pandemic.

Lloyds embraces hybrid working with 20% cut in office space

The decision was taken after 77% of Lloyds’ 68,000 employees said they wanted to work from home for three or more days a week in the future. The bank’s chief financial officer, William Chalmers, said it would make sure offices offered more space for teamwork rather than areas where staff sit at their desks alone.

https://www.theguardian.com/business/2021/feb/24/lloyds-profits-plunge-covid-defaults-dividend-payments
https://www.theguardian.com/business/2021/feb/23/hsbc-looks-to-asia-after-profits-plunge-34

hometruths

thefridge2006 wrote: »

EU to force multinationals to reveal tax filings as Ireland loses debate

https://www.irishtimes.com/business/economy/eu-to-force-multinationals-to-reveal-tax-filings-as-ireland-loses-debate-1.4495172

I'm pretty sure this is another one of Props suggestions that was shot down and laughed at.....

Fair play Props

Props being bang on the money is becoming quite the trend.

decreds

Props is our very own Notradamus.

I fully expect most of his predictions to be realized within the next 5 years.

awec

schmittel wrote: »

Props being bang on the money is becoming quite the trend.

Can you link me the post where PropQueries discussed this specific issue of tax reporting (which is completely different to any discussion of tax rate harmonisation) in the past?

I'm looking but can't find it. I've seen PropQueries post numerous times about tax harmonisation and how it's going to cause Ireland to collapse cause all the MNC workers are going to move to Poland or something, but I cannot personally recall what he said on this subject.

Interested to read his viewpoint on it.

hometruths

MacronvFrugals wrote: »

HSBC to slash post-Covid office space by 40% as profits drop by a third



Lloyds embraces hybrid working with 20% cut in office space



https://www.theguardian.com/business/2021/feb/24/lloyds-profits-plunge-covid-defaults-dividend-payments
https://www.theguardian.com/business/2021/feb/23/hsbc-looks-to-asia-after-profits-plunge-34

Presumably 68,000 is a decent sample size. If 77% was representative of workers desire to WFH majority of time in jobs that can WFH, it is pretty significant.

MacronvFrugals

schmittel wrote: »

Presumably 68,000 is a decent sample size. If 77% was representative of workers desire to WFH majority of time in jobs that can WFH, it is pretty significant.

Exactly my thoughts the shift does seem to be happening and hybrid with <=2 days in the office is the preferred model.

In saying that there is others who are vehemently opposed to it -


Goldman Sachs' boss wants bankers back to their desks ASAP

The corporate world is becoming split over home working, with David Solomon branding it ‘an aberration’

https://www.theguardian.com/business/2021/feb/25/goldman-sachs-boss-wants-bankers-back-to-their-desks-asap

awec

MacronvFrugals wrote: »

Exactly my thoughts the shift does seem to be happening and hybrid with >=2 days in the office is the preferred model.

In saying that there is others who are vehemently opposed to it -


Goldman Sachs' boss wants bankers back to their desks ASAP



https://www.theguardian.com/business/2021/feb/25/goldman-sachs-boss-wants-bankers-back-to-their-desks-asap

The cynic in me wonders how much money Goldman Sachs have tied up in commercial property.

They won't be alone though. I would bet that once this is all over the overwhelming majority will still be commuting to an office every working day.

hometruths

awec wrote: »

Can you link me the post where PropQueries discussed this specific issue of tax reporting (which is completely different to any discussion of tax rate harmonisation) in the past?

I'm looking but can't find it. I've seen PropQueries post numerous times about tax harmonisation and how it's going to cause Ireland to collapse cause all the MNC workers are going to move to Poland or something, but I cannot personally recall what he said on this subject.

Interested to read his viewpoint on it.

If you are genuinely interested in his viewpoint on this specific issue, I've no doubt he'll be happy to share it with you if you ask him. He's certainly not shy about sharing his opinions.

cnocbui

decreds wrote: »

Props is our very own Notradamus.

I fully expect most of his predictions to be realized within the next 5 years.

I would have said comrade Chicken Little or comrade Casandra.

Cyrus

decreds wrote: »

Props is our very own Notradamus.

I fully expect most of his predictions to be realized within the next 5 years.

His main one is a 75 percent decrease in property prices in the next 12-24 months .

Cyrus

schmittel wrote: »

Props being bang on the money is becoming quite the trend.

Is it?

He wasn’t about that because he never mentioned it yet we now have two posters claiming he was.

His legend grows .

Mervyn Skidmore

I'm sure this has been posted here but is there any light at the end of the tunnel in terms of property prices?

I have been keeping an eye on prices in Galway for the last couple of years and they have went from eye watering to just outright insane. A new 3 bed semi-d starts at around 375k. Existing stock is low and some of the prices for the dumps available are unbelievable. Finding it incredibly stressful that I supposedly have a good job but home ownership seems very unlikely.

combat14

Mervyn Skidmore wrote: »

I'm sure this has been posted here but is there any light at the end of the tunnel in terms of property prices?

I have been keeping an eye on prices in Galway for the last couple of years and they have went from eye watering to just outright insane. A new 3 bed semi-d starts at around 375k. Existing stock is low and some of the prices for the dumps available are unbelievable. Finding it incredibly stressful that I supposedly have a good job but home ownership seems very unlikely.

rents are eye watering too.. alot of young people will be forced to leave here once pandemic is over

Cyrus

Mervyn Skidmore wrote: »

I'm sure this has been posted here but is there any light at the end of the tunnel in terms of property prices?

I have been keeping an eye on prices in Galway for the last couple of years and they have went from eye watering to just outright insane. A new 3 bed semi-d starts at around 375k. Existing stock is low and some of the prices for the dumps available are unbelievable. Finding it incredibly stressful that I supposedly have a good job but home ownership seems very unlikely.

The guy who everyone is queuing up to praise for being right about everything reckons a 75 percent decrease in the near future .

So you are golden.

Pelezico

Thank goodness props is back. The nonsense if the last thread is far behind us.

Cyrus

Pelezico wrote: »

Thank goodness props is back. The nonsense if the last thread is far behind us.

What nonsense ?

cnocbui

Mervyn Skidmore wrote: »

I'm sure this has been posted here but is there any light at the end of the tunnel in terms of property prices?

I have been keeping an eye on prices in Galway for the last couple of years and they have went from eye watering to just outright insane. A new 3 bed semi-d starts at around 375k. Existing stock is low and some of the prices for the dumps available are unbelievable. Finding it incredibly stressful that I supposedly have a good job but home ownership seems very unlikely.

Houses are not expensive in Ireland.



Believe it or not, but stock is limited because prices were so low for a decade post 2008, that very few were being built because when finished, they were worth less than they cost to build. So the low stock is to some extent because prices haven't been high enough.

fliball123

Pelezico wrote: »

Thank goodness props is back. The nonsense if the last thread is far behind us.

what where he was predicting a huge crash in 2020 ..Did it happen??? hmmm hindsight is a wonderful thing

Yurt2

cnocbui wrote: »

Houses are not expensive in Ireland.

Believe it or not, but stock is limited because prices were so low for a decade post 2008, that very few were being built because when finished, they were worth less than they cost to build. So the low stock is to some extent because prices haven't been high enough.

That's a hoot. Prices aren't high enough, so affordability will be achieved through higher house prices, but they are affordable, so there's no problem.


Your graph does not equate to an affordability index fyi.

MacronvFrugals

cnocbui wrote: »

Houses are not expensive in Ireland.



Believe it or not, but stock is limited because prices were so low for a decade post 2008, that very few were being built because when finished, they were worth less than they cost to build. So the low stock is to some extent because prices haven't been high enough.

Could you post the link to that graph?

Pelezico

Cyrus wrote: »

What nonsense ?

I dont wish to comment further but glad prop is with us again.

fliball123

Yurt! wrote: »

That's a hoot. Prices aren't high enough, so affordability will be achieved through higher house prices, but they are affordable, so there's no problem.


Your graph does not equate to an affordability index fyi.

If you read what he wrote, he wrote that the supply problem was a symptom of prices being too low during the last number of years after the crash, meaning that if a house was built it was worth less than what it cost to build. He never said anything about affordability.

cnocbui

Yurt! wrote: »

That's a hoot. Prices aren't high enough, so affordability will be achieved through higher house prices, but they are affordable, so there's no problem.

Your graph does not equate to an affordability index fyi.

Of 192 cities in Europe, Dublin ranks 118th in affordability, so 61% of those cities have less affordable housing. https://www.numbeo.com/property-investment/region_rankings.jsp?title=2021&region=150

Ireland has the 6th most affordable housing in terms of price to income ratio out of 33 countries: https://www.statista.com/statistics/237529/price-to-income-ratio-of-housing-worldwide/

Why don't you provide some links disagreeing with these ones?

Mervyn Skidmore

Surely affordability is the only thing that matters for first time buyers?

thefridge2006

Cyrus wrote: »

point out where this specific issue related to CBCR was shot down and laughed at, you arent going well, one of your last posts was responding to someone talking about tech stocks being down 30%

Maybe if you take your head out of the sand and stop trying to be some argumentative keyboard hard man and listen to Props once in a while you might learn something.

Props isn't afraid to speak his mind and take big punts on his predictions. Remarkably he's been on the money a lot more than you and deserves some respect in here.

I really hope you're not like this in person and its just a weird internet fantasy

PS. please don't report like you have all the other times

Cyrus

Pelezico wrote: »

I dont wish to comment further but glad prop is with us again.

He has been for quite some time .

Graham

Pelezico wrote: »

I dont wish to comment further

Mod

wise

Summer2020

thefridge2006 wrote: »

Maybe if you take your head out of the sand and stop trying to be some argumentative keyboard hard man and listen to Props once in a while you might learn something.

Props isn't afraid to speak his mind and take big punts on his predictions. Remarkably he's been on the money a lot more than you and deserves some respect in here.

I really hope you're not like this in person and its just a weird internet fantasy

PS. please don't report like you have all the other times

Laughable. Hard to know if you’re trolling or not.

Yurt2

fliball123 wrote: »

If you read what he wrote, he wrote that the supply problem was a symptom of prices being too low during the last number of years after the crash, meaning that if a house was built it was worth less than what it cost to build. He never said anything about affordability.

He said houses are not expensive in Ireland. That's a nonsense.


UN housing rapporteur reports Ireland as an unaffordable housing market. CSO name-checks an international piece of research for middle income earners that shows all our major housing markets bar Waterford and Limerick as "seriously unaffordable" (and I can assure you, there is only a certain strata of people in those two who are middle income and much more below).


http://www.housingagency.ie/data-hub/house-price-income-ratio