Zenify wrote: » What do people think is a possible range for property to fall?
Mic 1972 wrote: » With so many rental properties becoming available at affordable prices it shouldn't be a big problem to postpone buying until end of the year. The 20% decline will be slow, it won't happen overnight
PommieBast wrote: » Several pubs in Dublin city centre have already boarded up doors and/or windows. At best not expecting a quick rebound..
Claw Hammer wrote: » Many businesses will not reopen. Many people will not get their jobs back because their former business will not be as active as before.
Limpy wrote: » A house may/will lose value in the long term. If that house will be yours then its a better return/investment then paying rent for ever.
Claw Hammer wrote: » Plenty will be booted out. In 3 months there will be a new negative equity generation. There will be receivers appointed to the properties of defaulting landlords. There will be numerous unravelled PIAs. The churn will be massive. tax Revenues will have fallen of a cliff and there will be massive new government debt. If and when the IMF comes back, there will be no more Mister Nice Guy.
Idbatterim wrote: » we still have a growing population, I can see this being like the last bust in a way. Supply dries up, people have to live somewhere and construction lead times are so slow, building freezes, prices drop, but wont be surprised if we are back to where we are now in a few years with prices... The sky isnt going to fall in and nobody will be dying of starvation in this country. Nobody will be booted out of their homes either...
mcbert wrote: » This is a property foum. To talk about the property market. In 2020. There are lots of other threads that are talking about people dying and job losses.
pearcider wrote: » Try several years. The West has responded to their already bankrupt financial institutions with even more debt. Guess what. The answer to being in too much debt is not to take out another loan. The best case scenario we can hope for is that the west goes Japanese ie a long decline with debt to gdp hitting 200% and then the inevitable default and liquidation. Property bulls should note that Japanese property prices peaked in 1989 and have still not recovered. However I don’t think we will be that lucky. Japan’s society is significantly more resilient and unified than that of Europe or the US. The average Japanese person has huge savings and they don’t use credit cards. Most people in the west have huge debts most of which is collateralized with depreciating assets like vehicles and property.
garhjw wrote: » I care more about people dying and losing their jobs. What’s my vested interest? I’m a landlord? So what. Good for you that you were a bear in 2019. Pat yourself on the back that you foresaw all this.
pearcider wrote: » I’ll keep posting my opinions thank you and we will let people hear both sides of the debate and not just the landlord. You have a vested interest at least that is now clear to all. I would also say I was a property bear in the 2019 thread and posted numerous times saying how unstable the bubble economy was and people should not be leveraging their future to a fake economy. So “people getting sick and dying” has nothing to do with my argument.
tobsey wrote: » That's fair enough but are the people who paid their mortgage for the last 10,15,20 years inherintly evil for wanting to sell their house for as much as possible when they decide to move? People talk about reducing house prices as if there's only one side to the deal.
garhjw wrote: » I don’t care what value my properties are. I don’t have any debt and I am not looking to buy or sell. You clearly have a chip on your shoulder about affordability of property and/or rents. You don’t have a clue what you are talking about like the majority of people on this forum. If you read the tone of some posts, yours included, they are revelling in this like it’s a good thing. Many people are getting sick and dying, losing jobs and livelihoods etc and all you can say is how great it is as you think the “system” is crashing. Cop yourself on along with the other doom merchants.
pearcider wrote: » Sorry your property value is going down but I don’t see how people who want cheaper homes and cheaper rents are inherently evil. The rent and house inflation over the past 8 years was a con anyway founded on cheap money that the central banks created from nothing and backed by nothing. The system is rotten and I don’t see how people are mad or bad to not want to be a slave to the banks and foreign investment funds for 30 or 40 years.
Claw Hammer wrote: » It will go on for several moths yet with the consequences lasting years. Better get used to it.
SozBbz wrote: » How many times do people have to be told that this will not go on forever. The negativity on this forum is so draining and counterproductive. With attitudes like that, yes, we'll be on our knees forever and ever. Thankfully Boards is not representative of the overall population, or I'd actually be worried.
Pheonix10 wrote: » I see the markets are up significantly in the US. Anyone know any more detail if that recovery will help the Irish market?
garhjw wrote: » Totally agree with you. This whole episode has really highlighted to me the issues of social media and online forums. Some truly bad and mad people out there. I really wonder what goes on in people’s heads sometimes.
SozBbz wrote: » Maybe he's fine with that?
