Ap2020 wrote: » Many of the workers here from Brazil are here on study visas, they will not have any access to social welfare while on a study visa where they are a non EEA national.
IndieRoar111 wrote: » After basically walking anyway from a sale at a decent reduction of the asking price over 3 weeks ago, the EA phoned us today saying the seller is willing to play ball at 10k lower than the initial reduced bid. We are still not going for it, will wait and see how the markets performs over the next 6-18 months.
dor843088 wrote: » So a fall of 15k on a 300k house ? That's optimistic for sure. Think theres sale agreed folk who have already negotiated more than that off previously agreed figures .
IndieRoar111 wrote: » To provide some value to the thread, a couple my husband knows bid on a house in D7 last week at 50k under asking and the offer was accepted. House was within the 375-400k range.
TheSheriff wrote: » Can also add to this. We have pulled out of all properties we've been bidding on. One EA kept following up as all other bidders have clearly fallen off a cliff. We had bid asking initially and were prepared to go higher by potentially another 5-10%; after some negotiating we've managed to get them down 20k from asking (closer to 6%). Have some thinking to do to decide if we pull the trigger......
voluntary wrote: » My bet for residential properties in dublin 12 months from now: - Affordable housing < 250k 10% drop - around 300k 15% drop - over 400k 20% drop
IndieRoar111 wrote: » 15k is very conservative, we know of buyers who have negotiated higher reductions this month and we ain't seen nothing yet!
davedub2015 wrote: » Havent heard many reductions in dublin? Sitting on contracts now and going to try knock a few bob off in a few weeks. Think the longer I leave it the better chance we could have
GreeBo wrote: » How many properties were you bidding on at the same time? To those who think it's all doom and gloom and that jobs and businesses will be irrecoverably lost, why do you think that a new business won't open in place of the old, assuming the old was profitable prior to the pandemic? If your fears are true then there is a killing to be made by anyone with money by simply reopening closed businesses and hiring all the staff back... Which makes no sense.
GreeBo wrote: » To those who think it's all doom and gloom and that jobs and businesses will be irrecoverably lost, why do you think that a new business won't open in place of the old, assuming the old was profitable prior to the pandemic?
Dwarf.Shortage wrote: » Nobody knows with any confidence so stop pretending you do because conversely pretending you know what you're talking about just proves you don't know what you're talking about. As JP Morgan said to someone who asked him what the market was going to do next, "it's going to fluctuate".
Marius34 wrote: » While you are right that nobody knows with a confidence. But as investing in stocks for the last 18 years, and following Property market. I can say from experience, its way easier to predict property market, in comparison to stocks or currency. I would say that you can not predict stock market for short term, as any minor news can have swing price within a minute, but you do can predict property market, although not with certainty, as things like for example new banking regulation rules can make a big difference.. Property is very illiquid when compared to stocks. There are limited buyers and sellers for each unit, thus creating enough time to recognize when things are starting to go one way or another.
guyfawkes5 wrote: » You're correct in the obvious that no-one knows the future in certainty, but we can use evidence drawn from experts and observing what has happened before to make educated guesses at what we believe will happen and compare reasoning.
Dwarf.Shortage wrote: » What happened the property market after the last global pandemic during which we put the economy into an induced coma? and you don't get to know how long the coma lasts yet. There is no what happened before for this.
guyfawkes5 wrote: » How the 1918 Spanish flu effected different cities in the United States is an interesting example of how social distancing policies can effect the pandemic and economies as each state had different policies on how to deal with it - St Louis and Philadelphia are usually cited as opposing examples here if you care to search for it. We can also see how the former epicentre of the pandemic is handling its economic recovery in real time - the Financial Times has an interesting piece on Wuhan economic activity compared to this time last year, including property sales. There is definitely uncertainty there, as is obvious, but we have the knowledge to make reasonable guesses as to what we think will happen and this is not baseless.
mcbert wrote: » I'm not going to pick the facts that suit me and ignore the ones that don't, here at least, so without providing any proof, I'm expecting some disappointment here in some months when a combination of 1) prices don't drop as far as expected, 2) if they do drop, they may not for that long, 3) if prices drop, availability may reduce, so many still won't find their dream home, 4) even if dream home found at affordable price, credit may be less available.
Dwarf.Shortage wrote: » And in this particular situation nobody has any idea what this crisis is going to do to the economy and as a result the buyer side of the market, none whatsoever.
JamesMason wrote: » My bet/hope: Operators with 3 bed semis converted into 4 Airbnb "units", and bunkbed/corridor bedroom Petri dish hovels, to **** themselves underwater.
GreeBo wrote: » ......... If your fears are true then there is a killing to be made by anyone with money by simply reopening closed businesses and hiring all the staff back... Which makes no sense.
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