Cyrus wrote: » how many people actually bought houses when prices dropped the last time. People forget in a bad market people aren't inclined to sell builders aren't inclined to build and banks aren't inclined to lend Maybe what you are after comes available and maybe you are in a position to buy it but don't bet on it
skooterblue2 wrote: » The Bank Repo officer like in the last recession?
Mic 1972 wrote: » A lot of people bought and sold houses during recession around the time prices hit rock bottom
pearcider wrote: » Taxes are going to have to go up especially on people with good salaries. Our debt/gdp ratio is going to explode this year, looking at our disastrous tax take for March I’d say we will take out the 2012 high of 120% early next year. This will require emergency budgets.
Cyrus wrote: » The solution to everything tax high earners more , what do you propose a 60 percent marginal tax rate ? 70 maybe ?
Cyrus wrote: » They didn't really , anyone who didn't need to sell didn't , it was a non functioning market for the most part
Mic 1972 wrote: » Look at the stats, thousands of houses were sold/bought during recession. Lower volumes yes but still a decent amount of transactions, people have cash and sellers don't want to wait and see their property keep losing money. Nobody knows how long this will last
pearcider wrote: » I don’t agree with taxes in general as they are a drag on the economy and will make recession much worse but we are looking at economic Armageddon here so I am only saying what our government will be forced to do. I don’t think people are fully grasping this. Forget the housing market for 5 years. It’s toast. The question is will the worlds financial system survive. I think that is very much up in the air.
bubblypop wrote: » I bought a house in the last recession, 2009. It wasn't super cheap, no mad bargain, but it was good value, at the time. I'm now in the market for another house, other side of the city. I'm sorry I don't have one yet. I'm looking over 12 months. So, all those people talking about massive savings & taking advantage etc etc, I don't care. There is always less properties in the market in a recession & I am sick of renting. So when I can go view houses again, I will go view houses. & when I see the house I want, I will buy it, hopefully!
OwlsZat wrote: » Do you realise we just altered our tax law to facilitate Irish tax aliens paying no Irish tax whatsoever.
Augeo wrote: » PPR shows the number of sales..... doesn't go back to 2008 and 2009. 2010 20980 sales 2011 18419 sales 2012 25345 sales 2013 30048 sales 2014 43601 sales
Marius34 wrote: » BPFI reports information on Mortgage since 2003. Here is Total number of Mortgage Drawdowns For Ireland based on BPFI data: Year | Drawdowns .......... 2010 | 27,666 2011 | 14,273 2012 | 15,881 2013 | 14,985 2014 | 22,119 ....... Note. This includes Top-Up's & Re-Mortgage, which are not part of Sale Transactions.
Marius34 wrote: » Without Top-Ups and Re-Mortgage: Year | Drawdowns 2003 | 94,682 2004 | 103,018 2005 | 110,495 2006 | 110,790 2007 | 84,194 2008 | 53,616 2009 | 25,097 2010 | 18,313 2011 | 11,050 2012 | 14,160 2013 | 13,472 2014 | 20,155 2015 | 23,664 2016 | 24,891 2017 | 29,395 2018 | 32,123 2019 | 34,087
skooterblue2 wrote: » I cant wait to get my passport for St. Kitts and Nevis. :D:D:D
LuckyLloyd wrote: » There will definitely be a market at the bottom, there always is. Some people are compelled to sell; and some people have the cash to buy. And banks still lend to high quality applicants borrowing well within their means. For sure, if you were looking for a small exemption and were reaching for the stars you may not be able to buy what you were after.
Cyrus wrote: » thanks so it shows that when prices were on the floor that the amount of houses sold were less than 10% of the peak and a only a third of whats being sold now when apparently there is a massive shortage.
maestroamado wrote: » Its the wealthy and successful business people who live here and are tax resident somewhere else i have the problem with.
Cyrus wrote: » the majority wont be in a position to buy. a lucky few will and an unfortunate few will have to sell.
voluntary wrote: » This is worth looking at. The stock market crashed Sep 2008 and then started recovery in March 2009. Yet, the Irish property market kept falling for the next 4 years. This shows, that stock market crashes rapidly, but real estate moves slowly, but it's like with the virus. When you flatten the curve, the slower moves just take more time.
voluntary wrote: » This shows, that stock market crashes rapidly, but real estate moves slowly, but it's like with the virus. When you flatten the curve, the slower moves just take more time.
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