Mic 1972 wrote: » Depends on how you measure wealth Milan is much wealthier than Dublin on a number of levels for example. Better quality life, better food, better hospitals, better quality of both old and new houses Cheaper accommodations
awec wrote: » It was the ESRI (Economic Social Research Institute). It wasn't an opinion piece. It produces independent research. It is not in the business of trying to make people feel better or alleviate fears. The gist of the article was basically that the coronavirus is going to hit the economy and certainly dent economic growth significantly. If the lockdowns persist beyond July, we are potentially looking at negative growth / economic contraction. If we are past the worst of it by then, the the economy could show positive growth (obviously less than was previously forecast) or zero growth this year. Of course, they could be totally wrong. Anyone who pretends to have certainty on the economy is a bluffer. Article is on the front page of the print edition of the IT. Didn't look for it online.
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
Mad_maxx wrote: » Name a capital city as wealthy as Dublin with low house prices?
rosmoke wrote: » Not sure where you live but on my side of Dublin people are struggling to get by. Dublin is not wealthy, everything is overpriced, houses are awful, most things are terrible quality from food to construction. People are robbed here and the sad part is they don't even know it.
voluntary wrote: » I can't. But it's not me who was and is telling people to stay invested during the current crisis. Anyone with a brain sees that businesses are and will be struggling while the virus is spreading and countries are locking down.
awec wrote: » Unless you're due to retire in the very near future moving your pension fund out of stocks is probably one of the worst things to do right now.
voluntary wrote: » Few weeks back after first corona-induced market drops, investment gurus were advising shareholders and pension fund holders to sit tight saying that the long term approach always wins and the market will come back and that selling at the peak is not worth the play :rolleyes: Now, whoever took their advice must be looking quite stupid today.
Taylor365 wrote: » You can tell the future? You have no idea where markets will be this time next year. No one does.
stinger31 wrote: » No need for the smart arse response.... Anyway this is coming from the same lads who claimed in 2007 that a "soft land" was on its way....https://www.irishtimes.com/business/end-of-celtic-tiger-next-year-says-esri-1.1294816 You couldn't make this stuff up......
awec wrote: » How do you propose government stop house prices rising?
awec wrote: » You think the ESRI are unaware of this point? Again, they're a research institute, they don't produce research to make you feel better. They could definitely be wrong, it's certainly not beyond the realms of possibility, but dismissing it as a belly rub because it doesn't fit the doomsday narrative doesn't make much sense.
stinger31 wrote: » Just remember this is global, not just Ireland. Bearing in mind all the local business that will go to the wall over this, we depend way too heavily on foreign businesses and investment. This will be a bloodbath and articles like this are just trying to easy tension
awec wrote: » It was the ESRI (Economic Social Research Institute). It wasn't an opinion piece. The gist of the article was basically that the coronavirus is going to hit the economy and certainly dent economic growth significantly. If the lockdowns persist beyond July, we are potentially looking at negative growth / economic contraction. If we are past the worst of it by then, the the economy could show positive growth (obviously less than was previously forecast) or zero growth.
stinger31 wrote: » HAHAHAHAHAHAHAHAHAHA I would imagine it's an effort to alleviate fears and nothing else. Honestly can't see how this could be true. I'd love to see this article
landofthetree wrote: » It was government policy to get house prices to rise. They also messed up the rental market. 1. They openly said they wanted prices to rise.https://www.independent.ie/life/home-garden/homes/michael-noonan-wants-house-prices-to-rise-further-30192456.html 2. The government encouraged land speculation. We are the least densely populated country in Western Europe. We could have cheap housing and low rents but our governments wouldnt have it. Now with a recession coming we will be hit really hard because our housing costs are insane.
awec wrote: » There are a lot more twists and turns to come in this saga, the doomsday stuff is a bit premature. And we're soon going to have to introduce a swear-jar concept every time someone posts that stupid investment cycle graph picture. The market is all over the place. Up and down, up and down. My own stocks went down like 10% on Thursday, but came back up 15% yesterday. In the coming days and weeks I'm sure there'll be more drops, and more gains, there's no sense going all hysterical every time there's a drop right now.In terms of bigger picture, was reading in the IT today that they reckon Ireland can afford a shutdown for the quarter, until June/July, and so long as we have got to grips with the worst of it by then the economy won't contract this year. Maybe they're right, maybe they're wrong, it's an interesting counter-point to the some of the stuff you read on here. Still believe that those who think they'll be buying houses any time soon for significantly lower prices than they are right now are going to be sorely disappointed. If those who believe the place is about to implode are correct, then supply of new homes is going to drop to somewhere around zero. You can almost certainly completely forget about any idea of affordable housing from the government.
landofthetree wrote: » The IT get a lot of revenue from property advertising. They aren't anyway independent.
awec wrote: » There are a lot more twists and turns to come in this saga, the doomsday stuff is a bit premature. And we're soon going to have to introduce a swear-jar concept every time someone posts that stupid investment cycle graph picture. The market is all over the place. Up and down, up and down. My own stocks went down like 10% on Thursday, but came back up 15% yesterday. In the coming days and weeks I'm sure there'll be more drops, and more gains, there's no sense going all hysterical every time there's a drop right now. In terms of bigger picture, was reading in the IT today that they reckon Ireland can afford a shutdown for the quarter, until June/July, and so long as we have got to grips with the worst of it by then the economy won't contract this year. Maybe they're right, maybe they're wrong, it's an interesting counter-point to the some of the stuff you read on here. Still believe that those who think they'll be buying houses any time soon for significantly lower prices than they are right now are going to be sorely disappointed. If those who believe the place is about to implode are correct, then supply of new homes is going to drop to somewhere around zero. You can almost certainly completely forget about any idea of affordable housing from the government.
landofthetree wrote: » It was government policy to get house prices to rise. They also messed up the rental market. 1. They openly said they wanted prices to rise.https://www.independent.ie/life/home-garden/homes/michael-noonan-wants-house-prices-to-rise-further-30192456.html 2. The government encouraged land speculation. We are the less densely populated country in Western Europe. We could have cheap housing and low rents but our governments wouldnt have it. Now with a recession coming we will be hit really hard because our hosuing costs are insane.
awec wrote: » What does this post even mean?
landofthetree wrote: » What a joke of a country we are. People wilth rdiculous mortages and rents facing into what could be a terrible recession. The tragic part of it all of this is it disnt need to be like this. Will we ever learn?
begbysback wrote: » Is that a typo? Investing or inventing?
