JamesMason wrote: » Expect REIT values to drop as investors get nervous. What happens to all those vacant high end apartments around Dublin?
Mic 1972 wrote: » who wants to invest in property right now honestly?
smurgen wrote: » Given the fact the economy could be screwed for the foreseeable future I'd be conservative.
missmed wrote: » Hi, I need some advice. My buyer and I are verbally sale agreed meaning no contracts have been signed, They’re now really pushing us to sign contacts and form some kind of a deal. I haven’t secured my house yet, there is one that I like but the EA does’t seem keen/optimistic for me to continue bidding as the current highest bidder is a cash buyer. What should we do? Any advice would be greatly appreciated!
PommieBast wrote: » Not so much fishy as Augean stables. You never know for sure whether those bidders actually ever existed.
Pheonix10 wrote: » Was looking at an apartment the other week, asking was 275k. Was told current bid was 300k and 3 bidders involved. Checked this week and another EA said no bids and buyer couldn't get funding. Very fishy. None of the other bidders were interested?
JamesMason wrote: » Let me introduce you to Jack. Jack is a property developer He is building a development of apartments on the outskirts of Dublin. He hopes to maximise his investment by selling the apartments to FTBs, or wholesale to foreign investors. But, a sudden shock has occurred to the global economy. So...why would Jack reduce the price of his apartments?
JamesMason wrote: » So...why would Jack reduce the price of his apartments?
Graham wrote: » Let me introduce you to Bob. Bob is a property developer. Bob has just been told houses in his new development are unaffordable for some people. Bob has no problem selling everything he can build at current prices. Why is Bob is going to reduce the price of his houses?
pearcider wrote: » Risk is greatly mitigated for chain buyers such as yourself as you have sold a property for the inflated price. For FTB though hold off, stock market tanked again today despite rate cut. Hello bear market. I’m expecting daft rental report to show that the slowing rental market has officially reversed in Q1. I note an awful lot of student accommodation and office buildings nearing completion in Dublin...let’s not forget the Empire State Building was finished in 1931, 18 months after the stock market crashed. Same with the Burj Khalifa in 2010.
TheSheriff wrote: » We've had an offer accepted on a house, no huge excitement, we've been here before and it didn't go through. We've offered over asking in this case as we immediately felt the house was priced lower than usual for the area to get people in the door (~5% over asking). We are going to push ahead with the sale - can't shake that niggling feeling tough that perhaps the market is turning and things will come down.
fliball123 wrote: » You have to take into consideration the correction that was taken place after the bust. There was always going to be a rapid price rise once the dust settled.
Assetbacked wrote: » Perhaps, but prices would not have shot up dramatically while wages have not. Again, based on median salaries, house prices are generally not affordable for a lot of people at their current levels and the IT article highlights this. More demand won't make them more affordable; price corrections, higher salaries and/or increased leverage may do so.
fliball123 wrote: » Really. so the lets look a the current trends to see this path your talking about current net migration of people coming into Ireland and increasing (which has rarely been the case in our history, our biggest export was always our people)https://www.cso.ie/en/releasesandpublications/er/pme/populationandmigrationestimatesapril2019/ Ireland has the current hightest birth rate and lowest death rate in the EUhttps://www.irishtimes.com/news/ireland/irish-news/ireland-has-highest-birth-rate-and-lowest-death-rate-in-eu-1.3952983 Ireland looking to build more houses means we need to import more builders and workers with those skills. Add in the vulture funds snapping up a high % of new builds as well and over 100k on the housing list some on there over a decade and more likely to join do to the birth rate. where are all of these people going to live?? Who are going to build these houses at a loss in order to indulge people looking for prices to come down??Even if building had been at a sustained level over the last decade and a half we would still be short on housing
OEP wrote: » I don't know where, I don't know any countries that allow this? Unless you own a farm, and then you still have to build beside the farm buildings / original farm house. You can get a plot of land next to an existing house, doesn't have to be an estate and you can have your own garden. Why should our countryside be ruined by your house?
Assetbacked wrote: » That explains how we are at the point we are at today, but it does not appear we will continue on this path the next few years.
Graham wrote: » And yet there appear to be quite a lot of 'Bobs' who are selling houses quite successfully which would suggest their houses are 'affordable' at least to a certain subset of the population. Supply less than demand.
Assetbacked wrote: » your example with Bob would be a disagreement with houses being unafforable?
Assetbacked wrote: » The current house price increase is somewhat artificial as it is based on supply being muted
