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?
voluntary wrote: » When market contraction happens, builders normally stop building until their costs drop to a level where construction is profitable again OR until their product prices recover or a combination of both. I doubt there will be many new developments starting in the next few months, but mind, large builders have fixed costs no matter if they work or not, if they already hire workers, they can as well use them to finish what's started and may then sell below the costs to cash out and hide). Keeping unsold stock is expensive and risky: insurance, potential damage, maintenance costs, etc. Nobody wants that.
cnocbui wrote: » No it won't. If you stop transmission for longer than the time it takes for an infected person to get over it and become non-infections, then you wipe out the disease, as was done with the original SARS and Smallpox. The real issue will be travel. People who have immunity can travel outside the country, but those who haven't can't, without a fast antibody test on return. Air travel will have to be restricted when we come out of lock-down. Those without some proof of antibody positivity will need an antibody test before being allowed in. More likely the EU will probably require the proof before boarding.
ZX7R wrote: » Swings and roundabouts You're going to have everyone second guessing everyone.
maestroamado wrote: » I am curious about this, does the €300,000 include the site cost? Also is housing estate or one-off stand alone. I do know that the cost and hassle of getting planning in the countryside is difficult. I was talking to a guy the other day who said he spent 30,000 trying to get planning and eventually gave up. I had a house built 15 years ago, i do not think i get much more out of it now than what i put i then. I was thinking of moving this summer but that may be on hold now. I know a few local guys who are in the building trade and most of them bought houses instead of self build.
GreeBo wrote: » Nope, once they die thats another house on the market. Even if its a family member who moves in, thats one less person looking for a house so it still counts. Unless the inheritance plans are to knock it down to make a field, it adds housing stock.
wirelessdude01 wrote: » Won't be happening
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.
fliball123 wrote: » You need to look at how many people got turfed out of their home when the last recession hit. Banks have not got the power to take the family home off someone even after years of not paying their mortgage. This argument is null and void Ireland is the safest country in the world to own your own house
Claw Hammer wrote: » The banks can and do take houses from people. It might take time but they do it. Have a look at Bidx1. The majority of the properties offered are repossessions. The banks also pressure people to sell before going to court. It is a myth that repossession is impossible.
fliball123 wrote: » Its not a myth as soon as they start playing hard ball the owner plays the poor me card and goes to the MABS or some other such agency and basically uses the its going to cost as much to house me and misses and my 5 dogs . All of a sudden the banks are forced to take what they can and it limps along like this I know about half a dozen people who this has happened to.
Maitguel wrote: » What if that OAP didn’t own the house to begin with? Could have been living with a family member, could have been under the state’s care, my point is that this cohort is not going to be enough to move the market. Plus has anyone had experience of the probable process? It takes years for anything to be done with the assets, that property being up for sale and sold in 12 months post death is very much best case scenario.
milhous wrote: » Housing you is the councils problem, not the banks. MABS only works if the debt can be realistically paid. Repossessions take a long time but they happen. As mentioned bidx1 for the contentious repossessions and most others just go to the market. Don't be silly
fliball123 wrote: » Yes but the bank cant just take the house away its just not that simple. Once mabs can come up with payment that is affordable by the client they more times than not have to accept it. There were very few houses repossessed and that was more due to the owners just giving up. Banks cant even harass now for none payment. It inevitably goes to the courts where they are more or less told if its the family house not to repossess and work out an affordable amount to repay
awec wrote: » Banks can, and do repossess, of course this is the case. But it is incredibly difficult, and a very long, slow, drawn out process. They'll do it when there's no hope whatsoever that you're ever going to pay the mortgage. Years and years of arrears that have no hope of being cleared. Even if you don't pay a single cent off your mortgage for an entire year, you're not going to lose your home. You can probably forget about getting any sort of loan or credit again for a long time, but you'll still have your home. Go back on this forum 4 or 5 years and more, you will see it was a very common complaint about the lack of supply after the last crash. There was tonnes of complaints of the market becoming stuck, banks were hit with bad loans, repossessions weren't happening, new builds just were not being built, people were looking to buy but couldn't.
Claw Hammer wrote: » Look at courts.ie. Numerous repossession cases listed before county registrars all over the country. That is only the ones where there wasn't an agreed sale. Some people have gained they system and strung things out but all have had to do a deal or be put out eventually. A lot of people don't want the hassle of having court proceedings hanging over them for years.
milhous wrote: » If its possibly for the debtor to pay back then that will be looked at first (providing the debtor doesn't Bury their heads in the sand).It can take years to go through the courts but once an order is in place it can be repossessed whether it's a family home or not. In saying that if the debtor even tries to pay then the County reg. Or judge will be hesitant to give an order. Its part of the reason for higher interest rates in this country, someone has to pay. If be in favour of a more streamlined process.
Summer2020 wrote: » Interesting how you’ve been contacted by “numerous estate agents asking if you want to throw in a number”. I’ve been contacted by none, despite viewing upwards of 20 houses in the last 3 months and placing bids on or above asking on at least 5. I find your posts very suspect to say the least, you’ve clearly got a vested interest in all this.
fliball123 wrote: » If you had a family and knew you couldnt be kicked out for years what option would you go for using free family court aid and staying rent and mortgage free for years or give back the house and spin the wheel and see where you end up I think 99 out of 100 people will choose staying put and preferring the hassle of court instead of the uncertainty
awec wrote: » You wouldn't live rent or mortgage free for years. You'd get away with that for a while, but eventually you'd need to start paying something. While you may not pay the mortgage off during the agreed lifetime, you would have to show that you're going to be able to pay it off in a reasonable time. The people most at risk are those whose mortgage payment is a large percentage of their income. Especially so if their pay is cut and it has no prospect of returning to previous levels.
fliball123 wrote: » While the court proceedings are going on they will live there. Once the sad stories of mental well being and little jimmy being beside his school or his mammy Phyllis in bad health and around the corner..No court will kick them out. They will be told to pay what they can and the banks have to suck it up.
milhous wrote: » That is not true. I work in this field. It may go on a while, but the bank just mounts the info. Until an order is inevitable. No effort and the order will be made.... Eventually.
Claw Hammer wrote: » 2. What is going to happen in the third level colleges in the coming academic year? Are there going to be dropouts due to students having no summer work? Are foreign students going to come? Our domestic students going to start college in the same numbers?
