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Are we really back to this sh*t again?

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24567…16

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    #32
    maryishere
    Closed Accounts Posts: 4,549 ✭✭✭maryishere


    Jimbob1977 wrote: »
    Looks like there's a major property bubble emerging.

    Only in the Pale, and that is because the Government is stupid enough to locate so many big companies, government offices etc there.

    In many counties eg Roscommon, Leitrim, Donegal , you can buy property for less than half construction cost.


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    #33
    Wesser
    Registered Users Posts: 1,813 ✭✭✭Wesser


    They are not anywhere near sold out. Went up this morning to have a look. Everyone calm down.


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    #34
    pablo128
    Closed Accounts Posts: 6,221 ✭✭✭pablo128


    maryishere wrote: »
    Only in the Pale, and that is because the Government is stupid enough to locate so many big companies, government offices etc there.

    In many counties eg Roscommon, Leitrim, Donegal , you can buy property for less than half construction cost.

    It's common in any country to have more demand near the bigger cities. I'm sure you could buy property for little or nothing in the Australian outback or some other remote parts of the world.

    No-one bats an eyelid when the typically second most expensive purchase goes down in value after some time. Their cars.


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    #35
    maryishere
    Closed Accounts Posts: 4,549 ✭✭✭maryishere


    pablo128 wrote: »
    No-one bats an eyelid when the typically second most expensive purchase goes down in value after some time. Their cars.

    Most cars are next to useless after say 15 years. Houses are generally just as liveable in after 15 years as after 1 year ( assuming they were built and maintained properly).


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    #36
    maryishere
    Closed Accounts Posts: 4,549 ✭✭✭maryishere


    pablo128 wrote: »
    It's common in any country to have more demand near the bigger cities. I'm sure you could buy property for little or nothing in the Australian outback or some other remote parts of the world.

    I doubt if you could buy a 2 bed apartment for 60k an hour from Perth.


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    #37
    thisonetaken
    Closed Accounts Posts: 236 ✭✭thisonetaken


    Wesser wrote: »
    They are not anywhere near sold out. Went up this morning to have a look. Everyone calm down.

    It's not about people thinking they will sell out fast, it's about ensuring you get the best located houses in the development. Anyone spending that much money for a house they will be in for 30 years would be mad not to queue to get the best one.


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    #38
    76544567
    Registered Users Posts: 465 ✭✭76544567


    I suspect there will be a lot of current investment properties going on the market in the next six tk twelve months which might bring prices down a bit. I'm selling up quickly before the rush. Putting my money where my mouth is so I don't get burned. Actually I'm not doing g it of my own accord. I've been pushed into it by the government so I'll thanks them in a year or so maybe. Not thanking them at the moment though.


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    #39
    1991 pmaC epacS
    Closed Accounts Posts: 89 ✭✭1991 pmaC epacS


    Everyone is talking about the next economic crash like it's inevitable, without mentioning the circumstances which will trigger such a crash. For example the EU/US rising national debt levels, low interest rates, and so on.. I don't buy into this line of thinking "Property prices are rising now at a similar % as 2000-2006, then the 2008 financial crisis hit, therefore there will definitely be a similar financial crisis shortly".. what is the logic? Asking sincerely as I am genuinely interested.


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    #40
    Icemancometh
    Registered Users Posts: 855 ✭✭✭Icemancometh


    maryishere wrote: »
    Only in the Pale, and that is because the Government is stupid enough to locate so many big companies, government offices etc there.

    In many counties eg Roscommon, Leitrim, Donegal , you can buy property for less than half construction cost.

    What big companies did the government choose to locate in Dublin? Seems to me official policy is to encourage companies to locate outside Dublin.


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    #41
    Cameo
    Closed Accounts Posts: 100 ✭✭Cameo


    There's a residential property shortage - this is the reason why. Why are comparisons being made with the "boom" era?


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    #42
    andekwarhola
    Registered Users Posts: 4,638 ✭✭✭andekwarhola


    Obviously the state meddling in the property market hasn't help but Irish people seem to like certain factors of being a modern country like high wages and standards of living but on the other hand react violently to the idea that the property market periodically overheats like everywhere else.


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    #43
    Cee-Jay-Cee
    Registered Users Posts: 12,235 ✭✭✭✭Cee-Jay-Cee


    Banana Republican wrote: »
    Remember my dad breaking his sides laughing back in 2010 as we sat back and watched primetime about the crash. I asked what he found so funny and he replied how he found it funny that the politicians on the programme thought we'd learn lessons from what had happened. How right he was.

    But those self same shower of incompetent pricks are allowing the same to happen again. They should all be publically hanged for gross incompetence.


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    #44
    namloc1980
    Registered Users Posts: 18,104 ✭✭✭✭namloc1980


    Cameo wrote: »
    There's a residential property shortage - this is the reason why. Why are comparisons being made with the "boom" era?

    Because over paying for overpriced property can only end in tears. I'm sure we'll have the experts on telling us this is different and the underlying economy is strong etc. We'll never learn it seems.


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    #45
    Yourself isit
    Closed Accounts Posts: 3,257 ✭✭✭Yourself isit


    1991 pmaC epacS wrote: »
    Everyone is talking about the next economic crash like it's inevitable, without mentioning the circumstances which will trigger such a crash. For example the EU/US rising national debt levels, low interest rates, and so on.. I don't buy into this line of thinking "Property prices are rising now at a similar % as 2000-2006, then the 2008 financial crisis hit, therefore there will definitely be a similar financial crisis shortly".. what is the logic? Asking sincerely as I am genuinely interested.

    I agree. The banks are not lending hand over fist like they used to. Of course the new government interference doesnt help.

    This reminds me of what an economist once said about London property prices. There are two protential catastrophes, either London is a bubble and there will be a big crash or it isn't a bubble and the future generations will be screwed.


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    #46
    Yourself isit
    Closed Accounts Posts: 3,257 ✭✭✭Yourself isit


    namloc1980 wrote: »
    Because over paying for overpriced property can only end in tears. I'm sure we'll have the experts on telling us this is different and the underlying economy is strong etc. We'll never learn it seems.

    It is in fact different. Not that that is better.


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    #47
    Royale with Cheese
    Registered Users Posts: 9,031 ✭✭✭Royale with Cheese


    This is just supply vs demand is it not? Last time round demand outweighed supply largely down to extremely lax lending rules. This time? If the actual issue with shortage of supply of housing isn't fixed then how are prices going to crash unless the banking industry goes under again?

    I'm not saying it won't happen. I just don't think it's the exact same situation all over again. I don't remember the rental market being this bad last time either.


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    #48
    maryishere
    Closed Accounts Posts: 4,549 ✭✭✭maryishere


    Icemancometh wrote: »
    What big companies did the government choose to locate in Dublin?
    Ask the IDA, they were probably involved;)

    No wonder there is a housing shortage and traffic jams and everything so expensive here in Dublin now. Some of the jobs should have been spread around a bit.


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    #49
    CaptainR
    Registered Users Posts: 221 ✭✭CaptainR


    How can people pay 650,000 for a house? If you were to pay back 500 a week that's 26 years, and that's before you include interest.

    How much do these people earn?!


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    #50
    maryishere
    Closed Accounts Posts: 4,549 ✭✭✭maryishere


    CaptainR wrote: »
    How can people pay 650,000 for a house? If you were to pay back 500 a week that's 26 years, and that's before you include interest.

    How much do these people earn?!

    You can buy fine houses in half the country for 100,000 to 200,000, and fine executive detached houses for 300,000.

    Its a very divided country. The government promising decentralisation ( remember that) and "gateway cities" ( remember those) and then going back on those promises did not help.


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    #51
    pablo128
    Closed Accounts Posts: 6,221 ✭✭✭pablo128


    maryishere wrote: »
    You can buy fine houses in half the country for 100,000 to 200,000, and fine executive detached houses for 300,000.

    Its a very divided country. The government promising decentralisation ( remember that) and "gateway cities" ( remember those) and then going back on those promises did not help.
    Do you mind me asking if you would move away from Dublin to one of these fine houses for little or nothing? And if not, why not?


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    #52
    captbarnacles
    Registered Users Posts: 1,970 ✭✭✭captbarnacles


    It will crash because the salaries are not there to support paying 2k a month for a mortgage.


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    #53
    Yourself isit
    Closed Accounts Posts: 3,257 ✭✭✭Yourself isit


    captbarnacles wrote: »
    It will crash because the salaries are not there to support paying 2k a month for a mortgage.

    A 500k mortgage is probably higher. Depending on the term.


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    #54
    gifted
    Registered Users Posts: 4,869 ✭✭✭gifted


    captbarnacles wrote: »
    It will crash because the salaries are not there to support paying 2k a month for a mortgage.

    Try paying 2300 a month for a creche on top of a mortgage....


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    #55
    Ulysses Gaze
    Closed Accounts Posts: 7,570 ✭✭✭Ulysses Gaze


    Smoked Tuna wrote: »
    Food shelter and water, the bare necessities of life.

    People will fight for these neccesities

    You can rent shelter though.


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    #56
    Hector Bellend
    Closed Accounts Posts: 3,667 ✭✭✭Hector Bellend


    Wanderer78 wrote: »
    Some might say, it's good for the economy!

    Some might say we will find a brighter day


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    #57
    Hector Bellend
    Closed Accounts Posts: 3,667 ✭✭✭Hector Bellend


    Anyone surprised?


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    #58
    Nika Bolokov
    Registered Users Posts: 651 ✭✭✭Nika Bolokov


    These houses didnt sell out like one poster said.

    The same thing happened in Swords a few months ago where people were lining up in their pyjamas in a panic, same thing, a few people with nothing better to do were featured in a certain newspaper which earns a large amount of money from property advertising to hype things up. Some of those houses are still for sale.

    Again in a development in Lucan some people were queuing over the weekend. Part of the Adamstown development where thousands of houses are due to come on stream.

    We have strict mortgage rules now and the actions of a few over excited people shouldn't be used to characterise a whole market.


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    #59
    Hector Bellend
    Closed Accounts Posts: 3,667 ✭✭✭Hector Bellend


    CaptainR wrote: »
    How can people pay 650,000 for a house? If you were to pay back 500 a week that's 26 years, and that's before you include interest.

    How much do these people earn?!

    The banks didn't care the first time


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    #60
    Nika Bolokov
    Registered Users Posts: 651 ✭✭✭Nika Bolokov


    maryishere wrote: »
    You can buy fine houses in half the country for 100,000 to 200,000, and fine executive detached houses for 300,000.

    Its a very divided country. The government promising decentralisation ( remember that) and "gateway cities" ( remember those) and then going back on those promises did not help.

    Thats grand but nobody wants to live out in the bog, even if it is for an 'executive' detached house which I assume means one of those big eyesores with plaster Roman columns


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    #61
    ...And Justice
    Closed Accounts Posts: 1,283 ✭✭✭...And Justice


    Hector Bellend wrote: »
    The banks didn't care the first time

    The difference now is only people who earn a good salary can buy a house of this price, not like before when anyone could get a mortgage and lie about their earnings.


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