smurgen wrote: » Medical devices are way down as surgery is way down.Stryker the biggest here in cork is down share price wise in a dramatic fashion.almost 14% alone last Friday.
randoplh134 wrote: » It's amazing to what lengths humans will complicate their lives and find a way to rationalize it. I know a couple who are mortgaged to the tilt and are after going sale agreed on a mediocre property for 420k, asking was 440k. They have very little deposit and both work in jobs that are not safe ( infact the woman has already had her hours cut back due to this situation ). Their excuse is they are paying 1100e per month in rent for a 1 bed apartment and the mortgage on the 3 bed house will " only " be 1400 per month and they expect to start a family in 5 years time. Amazing, what they fail to realize is this house was put up for sale 3 weeks ago and they already got it for 20k under asking, can you imagine what price reductions they will get if they wait a mere 6-12 months. I hear the excuse of "oh rents are high right now, we are being ripped off etc " . What people fail to realize is that rents are short term, a mortgage is often a life sentence. Property prices will tank very soon and so too will rents, the rent you are paying now is not forever. The money you save waiting to buy and end up getting a bargain will stand you in good stead for the rest of your life. Think long term
randoplh134 wrote: » It's amazing to what lengths humans will complicate their lives and find a way to rationalize it. I know a couple who are mortgaged to the tilt and are after going sale agreed on a mediocre property for 420k, asking was 440k. They have very little deposit and both work in jobs that are not safe ( infact the woman has already had her hours cut back due to this situation ). Their excuse is they are paying 1100e per month in rent for a 1 bed apartment and the mortgage on the 3 bed house will " only " be 1400 per month and they expect to start a family in 5 years time.Amazing, what they fail to realize is this house was put up for sale 3 weeks ago and they already got it for 20k under asking, can you imagine what price reductions they will get if they wait a mere 6-12 months. I hear the excuse of "oh rents are high right now, we are being ripped off etc " . What people fail to realize is that rents are short term, a mortgage is often a life sentence. Property prices will tank very soon and so too will rents, the rent you are paying now is not forever. The money you save waiting to buy and end up getting a bargain will stand you in good stead for the rest of your life. Think long term
Reversal wrote: » https://www.irishtimes.com/business/health-pharma/trump-stance-on-pharmaceutical-production-could-hit-ireland-1.4205295 Uh oh. Trump using the crisis as a catalyst to pull pharmaceutical industries back to the states.
Cuddlesworth wrote: » Takes a long time to move or create a industrial factory, staff it etc. He is just saying whatever is a fox news talking point at the time. At worst, the repulications will give tax breaks to american companies to move manufacturing back home. And they will use that money to pretend to do so, before moving it to APJ/south America.
randoplh134 wrote: » can you imagine what price reductions they will get if they wait a mere 6-12 months.
Assetbacked wrote: » Oof, WeWork, one of the largest tenants in the State, at risk of bankruptcy;https://www.irishtimes.com/business/work/softbank-warns-it-could-back-out-of-wework-stock-deal-1.4205737?mode=amp
Assetbacked wrote: » Is it just me or does it feel like, today, that the initial panic of COVID19 is over? Working from home was a novelty prior to Paddy's Day and now it feels like we are just going to get on with things. Leo's speech last night spoke about the "calm before the storm" thus far. However, he also said that the "vast majority" of us will barely notice the virus in our system. This "vast majority" section of the population are those that are still working and keeping the economy going so can get back to normal at the drop of a hat. As such, as noted above, residential property transactions may grind to a halt for the next while, but, given the nature of the pandemic, it is likely we will be through the worst of it in 2/3 months and then people should be able to start getting back to normal - and will get back to normal very quickly once the green light is given.
landofthetree wrote: » No chance this is only 2/3 months. Plus the whole service industry has collapsed. I was supposed to get a new kitchen but I ran the tradesmen. Told them I will be getting it done for 50% less down the line.
Cuddlesworth wrote: » WeWork have been in the ****ter for a while now, this is just the kick over the edge for them.
awec wrote: » If their jobs are as unsafe and shaky as you suggest then there's a high chance they'll end up unable to get a mortgage in future in the event of prices and the economy tanking. So yea, think long term, and realise that waiting is not without risks, you could end up waiting a long time.
randoplh134 wrote: » LOL so to prevent waiting a long time it would be more logical to buy a property which is highly over valued and will drop in price soon along with signing up to a 35year mortgage at 1400 per month with no money for furniture,no emergency cash and a high likelihood of being unemployed soon? Based on your rationale, i certainly wouldn't hire you as a financial advisor. It's this mindset of entitlement to a property in this country that has us in dire straits ( before this virus ). People need to delay gratification and purchase a property WHEN they can afford it.
awec wrote: » Your argument was that if they just waited, they would pick up a bargain. I was merely pointing out why your argument was nonsense. If they're going to be losing their jobs, like you suggest, and they have a family, then owning a property will bring them more security than any other option. Yes, they may be overpaying, but they'll have a home.
randoplh134 wrote: » I've stated many times throughout the thread that if someone has a steady job they should wait it out and pick up a bargain when this house of cards fall. They plan to start a family in 5 years. Imo they should not sign up to a lifetime of debt they can't afford for highly over valued stock which will fall soon.
randoplh134 wrote: » Just to test the waters on what kind of financial situation the buyers who are not waiting it out and want to proceed and buy now are in, what is your mortgage going to work out at per month ? Anything above 1000e pm month for 30-35 years is too high imo and you would be better off waiting. If it's <1000 and it's going to be a forever home you may be making an ok decision.
awec wrote: » They have steady jobs now? It's hard to keep up with these moving goalposts.
Padre_Pio wrote: » I called my EA last week and put my sale on pause. There's no harm in waiting a month or two to see how things lie. In fairness I haven't told the solicitor, since that side takes months anyways, but I plan on renegociating if the property market turns.
nhoj88 wrote: » Are you buying or selling? "I called my EA last week and put my sale on pause. There's no harm in waiting a month or two to see how things lie." Sounds like a seller "In fairness I haven't told the solicitor, since that side takes months anyways, but I plan on renegociating if the property market turns." Sounds like a buyer
