skooterblue2 wrote: » The Bank Repo officer like in the last recession?
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
Cyrus wrote: » Who is going to sell at those prices in the near term ?
LJ12345 wrote: » Totally, so many ways this could go, ex Airbnb’s seem to be offering 6 month rentals, they don’t want to tie up into long term rents and lodgers currently protected in people’s homes may be asked to leave their rent a room agreement at the end of the 12 week temporary legislation and flood the market seeking rentals. Clearly at the moment everything looks dire but it can change so fast as we’ve just seen.
Idbatterim wrote: » this is a good opportunity for some, if they keep full salary, they can now save for deposit quicker, as its so easy not to spend money on crap now and prices are dropping...
Augeo wrote: » 500,000 not working for X weeks. Some of them will need to find new jobs as some companies will close. Air b&bs coming back into domestic rental market. Banks not lending as much (exemptions already a thing of the past for some banks). Same demand as now to buy maybe but people might not be able to borrow as much. All very much subject to ifs & buts.
cd76 wrote: » ......go in at least 30%off .. and up to 40%+ in 3 months time.
cd76 wrote: » Advice would be to sit tight and offer nothing now. This year is over for Property sales. Next year will get you something at 30 -40% less. SO you'll be able to get a lot more house for your money in a better area. It will also allow you understand your job situation post this pandemic. Additionally Interest rates will be lower so everything is in your favour for next year. Be patient.
bdmc5 wrote: » By all means please link your articles proving that houses prices will drop 20-30 percent, mass emigration will occur and the rental market will collapse? It maybe very well be reasonable to forecast a 20/30 percent drop in next 9 months but Is it not reasonable to expand the forecasting to allow for what will happen if prices do drop that much. You and many here seem to think that have your pick of houses but in that scenario surely supply would be non existant as developers hold back new builds and sellers unless highly motivated to sell never sell that much lower in such a short period of time. The bottleneck of buyers who held off all eagerly awaiting a bargain, increasing employment and the built up savings of people in employment with nothing to spend it in lockdown will have means to buy so surely this drives up prices very quickly on the tiny supply that will be there. Im not EA but we do own our home with no plans to sell as we love it here. I feel genuine sympathy for people who have saved and sacrificed for years and now just as they are to get the home they dreamed of but have this horrible nagging fear of what will happen prices. It not easy to buy a home watch the value decrease but the flip side im saying it also very possible that that same house is no longer available in 12 months time, banks arent lending and supply in non existant. Its very tough dilemma and surely it best to weight up both sides is all im trying to discuss here
Augeo wrote: » Ideas etc are fab. It's the sh1tshovelling and hard work that lines the shareholders pockets..... Plenty of that done here. Yeah, corporation tax, I know.
OttoPilot wrote: » If you want to invest in property, why not just put your money in a reit? Will you be moving to another place you already own or will you need to get a mortgage?
Marius34 wrote: » I would think this Summer will be a good time to negotiate 3-5% from the current price, with more option to choose and less biding wars. As long as multinationals corp. stays here, which I believe they will, although would need to follow news on this. I don't believe in property crash with over 20%. Simply because there is lack of property, not many of empty new builds, relatively low number of residential construction, and in overall on a whole scale of a country, today Irish household has way less Loans, and much more in their accounts, than what it was in 2008. In addition to that, for the people who won't loose their jobs, it is much easier to save initial deposit this year, than in any other year.
skooterblue2 wrote: » There is a time and season for everything. When the Karma of economics works perfectly, the property market is perfectly in tune with the economy. There are times when you get lucky like meeting a distressed property or you get swept away with the crowd and media hype to buy or forever be stuck at home or renting. There is a time for living at home, starting a house share, buying a family home and down sizing in your winter years. The trick is to know when is your time. When to hold your money and when to be bold and go for it. life is short so choose wisely and try and catch the wave in the trough and sell up before the crest.
cd76 wrote: » Spoken like a true Estate Agent, well done. Now when you have calmed down go read a few of the respected press from the Irish Times to the New York Times and you can get the data supporting my positions. By the way I do own my own home and am not stressed, actually quite looking forward to investing when the market is at the bottom in about 12 months time.
Marcusm wrote: » That house is so bland it could be taken from any mid 90s new build catelogue and put on the photocopier at x1.5. Such a disappointment for the price and relatively distant location which necessitates car use for most activities. The Luas is not that close and even with that.
beauf wrote: » Sit n your hands for two to three years and see what's available then and what you can afford/borrow then.
Yurt! wrote: » As Bob Dylan once sang: 'You don't need to be a weatherman to know which way the wind blows.' Speculating on a possible 30 percent drop in house prices is not hysteria in the least. We're staring down the barrel of one of the most painful economic events in modern history.
bdmc5 wrote: » Last few days of following this thread Ive these posts wildly speculating 30 percent drops in houses this year, that rental market is crashing and we will have mass emigration. I realised that these hysterical posts have all been left by you. Like the rest of us you don’t have a clue what we happen at the end of the day. i would recommend if you are in the market for a home then dont buy as I dont think you will be able to tolerate the stress short to medium term drop in property prices. You could argue The flip side When the time comes we come out of this there will be a huge bottle neck of buyers who had been holding off and developers will hold back stock to push up prices back up as mass employment slowly builds back up again. There’s still a large portion of people working from home earning full wages so it’s nowhere near as clear certain of a meltdown of The housing market as you make out.
cd76 wrote: » yes they contributed that amount of money. Buy, my point was about the "brains" work ... i.e. the core technical development of their key products. None of them - including Facebook - do that here.
awec wrote: » Facebook do of course have engineering positions in Dublin.
cal naughton wrote: » Dublin contributed 25billion to the company's overall revenues in 2019 and only paid corporation tax of 63 million here. The other companies you mentioned might be under pressure but Facebook is a totally different proposition.
1sttimebuyer20 wrote: » are many others here at sale agreed stage? if so, what are your thoughts at this stage? pull out? role the dice? I have recently renegotiated a sale agreed price which took over 3 weeks to do, of course in the mean time the extent of the damage covid-19 is going to have on the economy has become more obvious and I really do not fancy paying this price and then in 6-12 months the market has taken a nosedive. I understand the market and the impact covid-19 is going to have is near on impossible to predict right now however I personally feel regardless of the damage done to the economy, the sheer shortage of housing will probably still outweigh the demand so where does the price drop come into play?
kevinc565 wrote: » Journey time is approximately the same to O'Connell bridge (40-50 minutes) Houses still going for €1.2m out in Carrickmines. Obviously not representative etchttps://www.myhome.ie/residential/brochure/6-carrickmines-avenue-carrickmines-wood-carrickmines-dublin-18/4337116
