JJJackal wrote: » Supply will stop - where do you think the Government will get the money for this?
nerrad01 wrote: » This is going to make the recession look like a walk in the park, the US inventing 1.5 trillon to pump into the economy, more quantative easing by the ECB and it hasnt even kicked off yet in the US or Europe. Scary times ahead
stinger31 wrote: » Prices will plummet for the foreseeable future. Demand will disappear due to 1)The amount of jobs that will be lost over this. 2)The amount of self employed people who will need massive loans to try stay going and in turn not be profitable for x amount of time and in turn not qualify to get a mortgage etc. 3)The lucky people to still have a job at the end of this will probably have to take a huge pay cut and with the 3.5 times rules it'll be extremely difficult 4)banks wont be loaning 5)more supply will be coming on the market as i would hope the Gov have learnt from the last time 6) People who aren't from here might go home as they cant afford to live here anymore and cheaper to live at home
Dav010 wrote: » Whatever the vendor instructs him to do, I suspect. Richard is not the seller.
landofthetree wrote: » Denial is always around when the crash happens. It's a key stage in the boom bust cycle. We are at aniexty/denial stage.
OttoPilot wrote: » https://www.thejournal.ie/coronavirus-rents-homes-eoghan-murphy-5046259-Mar2020/ A poster saying this week that the government couldn't force landlords to do anything and now they are actively exploring what can be done. Didn't take long!
JamesMason wrote: » Let me introduce you to Richard. Richard is an estate agent. He breathed a sigh of relief when Brexit calmed down. Since Xmas his office has been inundated with calls, and every weekend the open viewings he organised have been packed. Until now. So...what does Richard do?
Deco99 wrote: » Is now the time to capitalise on a bit of fear from sellers? House was bid up 30% over asking 3 weeks ago and initial buyer has pulled out. Sale agreed at asking after we refused to budge when auctioneer came back. Fixer upper but as long as markets don't free fall to post 2008 we've done alright by staying a little brave hopefully
landofthetree wrote: » https://mobile.twitter.com/irishexaminer/status/1238458554874380288 I can see the government banning evictions. Too risky to have an increase in homless people.
Mic 1972 wrote: » Final nail in the coffin to scare off the investors
fliball123 wrote: » I think they will find this is unconstitutional, if the government want to pay the tenants rent so be it
lcwill wrote: » I'm sale agreed on a property right now, but I agreed a price in a certain context which has now radically changed - my expected risk adjusted return has dropped, hence what I am willing to pay for the property has dropped. If there is a bigger fool further down the queue of buyers so be it. At the same time the stock markets have collapsed so expected returns for equities over the next 10-20 years are now much higher. The entire calculus on which an investor made a decision to buy a house at a certain price two months ago has changed, at least over short-medium term. There are new risks now which need to be priced in.
vmb wrote: » Currently selling. If the buyer tries to play that game i'd move instantly to the next buyer (multiple buyers in the queue). it is not serious behaviour once the house is sale agreed. I've sold the house in good faith and expect the same from the buyer. But hopefully not all buyers are like you.
handlemaster wrote: » They will be. This coronavirus is just beginning. The fall out will be enormous
JamesMason wrote: » Those long-term vacant houses will remain so IMO. Some vendors have missed their slot.
nerrad01 wrote: » just got a phone call from an estate agent of an apartment i viewed 3 weeks ago! Seeing if i was interested, i guess viewing numbers will be through the floor for the foreseeable
Mic 1972 wrote: » One is livable but would be low standard for B&B The other 3 are in shambles, probably not used in ages Possibly left vacant waiting for the right time to flip them
The_Conductor wrote: » There are a constant supply of properties which were pledged under the Fair Deal scheme- hitting the market on an ongoing basis- with a noticeable bump in Feb/March/April before a slowdown for the rest of the year.......?
fliball123 wrote: » Why will the pool of buyers decrease?
Assetbacked wrote: » IRES has had all gains in its share price since things exploded three years ago wiped, yet we have not felt any impact from the coronavirus as of yet (i.e. Job losses, wage cuts etc) . Majority of investors in IRES are institutional investors themselves who will have seen massive hits to the share price in the first week of coronavirus fallout, investments of 0% interest rates are safe havens right now as it would seem like the rental crisis is going to get a big lift from a decrease in demand. Tourism being hit should leave vacant Airbnb lying around, maybe these may end up being rented to long term renters. Anecdotal, a couple I know looking to sell and downsize now are holding off until this situation becomes more certain. Presumably many others will start to follow suit and in a few months there will be a lot of properties coming on sale at the same time while the pool of buyers will have decreased from now as it will take buyers longer to get up to speed to buy again. The correction in property is long overdue but, let's hope it is not a full on crash.
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