davedub2015 wrote: » Im the same have viewed many houses and no calls from any estate agent.
pearcider wrote: » Spanish flu killed relatively more and we had a much younger and fitter global population then. No obesity no diabetes and few OAPs. The only thing keeping the current death rate “low” at 3.4% is the modern intensive care we can provide but that will collapse in most countries in the next month or so because the cases are doubling every 5-8 days. In Italy it has collapsed hence the death rate of 11%. It’s just mathematics.
coolshannagh28 wrote: » Another factor which will have a huge bearing on our housing market is the impact of Covid 19 on the large US investors who control the market ; they are going to make losses both here and in the US if the housing market falls rapidly and financing will become an issue for them as Covid wreaks havoc in the US , how they react will have a big impact here .
SteelyDanJalapeno wrote: » Something is only worth what someone is willing to pay for it.
Nika Bolokov wrote: » But....European children were chronically malnourished , there was no welfare system , most breadwinners were killed in WW1 , Spanish flu killed the poor mainly regardless of demographic. We're all further on. Italy's death rate is driven by it's lack of identified cases due to limited testing. It's a major outlier and is falling. It's just mathematics...
Nika Bolokov wrote: » If anything financing will become cheaper as the Fed opens the taps and buys all sorts of debt.
Summer2020 wrote: » People expecting sellers to be begging people for offers are delusional in the extreme.
CalRobert wrote: » When the seller loses their job and can't pay the mortgage, they will be more inclined to seek offers, or the bank will simply take it and sell it to whoever offers the most. Most sellers won't be in this boat, but enough will that it will affect prices.
Summer2020 wrote: » This is Ireland. People won’t lose their homes. It didn’t happen during the 2008 recession. It’s extremely hard for a bank to repossess a family home in Ireland. The debt will be added onto the mortgage.
JohnnyChimpo wrote: » this is a truism though, it can be equally applied to both wildly overinflated and depressed markets
Pheonix10 wrote: » Sorry but Christmas? Are you joking...you can't even honestly believe it will be even a quarter of that time...
ZX7R wrote: » The O.E.C.D are saying a much more positive news in regards to our economy Out of all oecd members Ireland's economy to be least damaged by coronavirous containment measures. Maybe the housing market might not be affected as much. Full report can be viewed on their webpage
Irish Times wrote: GDP is, however, considered a poor barometer of Irish economic activity because of the presence of so many big multinationals, which skew the headline numbers. This suggests the OECD’s forecast may significantly underestimate the economic fallout here.
BillyBiggs wrote: » As people have mentioned, flights are still occurring. People are still flying in and out of most European countries, albeit at a much lower level than before. Besides that, when will it be safe to open cafes, bars and restaurants? When will it be safe open schools again? Most school expect to be closed till September. We could easily have our numbers of infections explode if we allow the general public to mingle in a month even. Don’t forget you have vectors for the disease that are asymptomatic, people who spread the disease and have no symptoms themselves.
nerrad01 wrote: » Covid is here forever until either we have a vaccine or we develop herd immunity, this is going to last a long time in terms of varying levels of restrictions. Anyone who thinks everything will be back to normal very soon is wrong, the big fear will be another wave of infections when winter rolls around.
Round Cable wrote: » And from the Irish Times review of the OECD report:
voluntary wrote: » No, it's not a 'zero-sum game' First, 20% of 300k is 60k, but 20% of 600k is 120k. Upgradeing from a former 300k house to a former 600k house after 20% drop saves you (600-300) - (480-240) = 300-240 = 60k So even assuming low-end and high-end properties drop equally by 20% you already save 60 thousand Euros upgrading in the downturn as opposed to upgrading before the pandemic. But this is all based on a very WRONG assumption that the market moves evenly. The average CSO increase of drop cannot be simply applied to the wide market. Expensive properties in the vast majority drop by a higher percent in general than the cheaper ones. The very low end of the market may not even move that much so you may be talking about getting small hit on your sale price and saving a lot of money on your next property.
Pheonix10 wrote: » Schools will be back before September, you can quote me there.
cnocbui wrote: » Probably, but they will be repeating the current year, starting in Sep.
cnocbui wrote: » Say I'm a builder, and it costs me €300,000 to build a house, but you only willing to pay €200,000 for it. You reckon that's it's 'worth'; not €300,000? If that's what you think, would you build any houses, if you were me?
