landofthetree wrote: » https://www.independent.ie/irish-news/ireland-ranked-second-worst-in-the-developed-world-for-property-affordability-38967606.html the State is the second most expensive market relative to incomes behind only Switzerland.
smurgen wrote: » I never said a pandemic.i said price drops.you spoke of certainty in price stability in an arrogant and dismissive fashion.
landofthetree wrote: » 140,000 people have been laid off work. 70,000 restaurant workers, 50,000 bar staff, plus 20,000 crèche and childcare workers.https://www.rte.ie/news/coronavirus/2020/0316/1123480-coronavirus-ireland/
OwlsZat wrote: » HIBERNIA REIT PLC down 33% in the last month too.
fliball123 wrote: » Myhome already just in one day down nearly 40 properties taken out of the supply side I wonder how many more properties will be taken off the market until the virus clears and prices resume where thye were. People saying there will be a price drop, how can there be a drop if sellers, buyers, EAs , Banks etc are gone into hiding and transactions withering down to zero?? I reckon between now and the end of the summer there will be less than 100 properties bought or sold only those in trouble and needing to sell will sell and buyers needing to buy the stock of good available property will be at a minimum
SteelyDanJalapeno wrote: » What about when 150k people lose their jobs here, can no longer afford to pay their rent or mortgages, any non nationals return home and there's all of a sudden a lot of empty houses and landlords not making money, do you think prices will stay high then?
fliball123 wrote: » Yeah seen that surely government will force banks to give a 3/6 month holiday on mortgages and pay rents for those not working. If all non nationals return home then by your logic we are in more trouble supply wise as we have more Irish people living outside of ireland than in the country so where to we put all of these people when people return to their home country?
fliball123 wrote: » You can take creche workers out of it as if you dont pay your creche fees your kid loses his/her place in the creche or that is what we have been told so surely they will pay staff
Sheeps wrote: » Demand isn't going to disappear. House purchases will stall. That is all.
Assetbacked wrote: » Then when it does pick up, presumably there will be a glut of properties back on the market at the same time hut the buyers will be working on building up savings again from what they had to use to get through this crisis or else they'll have lost their jobs or suffered wage cuts meaning less can be borrowed. The rental crisis may jot be so bad as well which means people could be less likely to rush to buy if their rent was actually close to what a mortgage would cost.
Assetbacked wrote: » To be fair, a huge cohort of the non-Irish in Ireland work in the industries most likely to be exposed, i.e. Hospitality and big tech multinationals. Their outflow would likely be lower than the net inflow of Irish returning.
Millionaire only not wrote: » They’ll let the staff draw there stamps and still charge the fees ! Probably be win for them !
fliball123 wrote: » How do you know if people have family back here and a chance that mam and dad may pass away due to this if they are in a mobile industry such as IT then they could easily relocate back home. So your guessing that outflow would be lower your also ignoring the fact that the world is in effect in lockdown no flights in or out will be the norm for the next few weeks so unless all of the foreign workers plan to build an ark and sail home the numbers in and out will likely be close to nil
Pheonix10 wrote: » Everyone is 100pc sure demand will remain or fall. Sellers obviously saying its a small blip, buyers saying it will fall by a huge amount. No one knows. However, prices are more likely to come down as the economy slows down. Could be 10pc/20pc/40pc. No one knows.
Pheonix10 wrote: » ........... No one knows. However, prices are more likely to come down as the economy slows down. Could be 10pc/20pc/40pc. No one knows.
Augeo wrote: » 30% off the FTSE100 and 20% off the S&P500. Similar off most major Irish stocks in last 2 / 3 weeks. Property will follow, an absolute certainty.
Pheonix10 wrote: » Is there any precedent for this? Genuinely curious. When is the last time this drop happened?
