schmittel wrote: » A soft landing so. Sounds familiar.
The Student wrote: » WFH is not going to happen anytime soon in the vast numbers you seem to think it is. We don't have the technical infrastructure to do this. Most businesses with people working from home are only doing the business critical tasks to keep the business going. We also have the cultural mindset to overcome. We still have a huge demand for properties. Some prices at the high end will decrease, it is unlikely prices are going to change dramatically. It never ceases to amaze me how people don't comprehend or just ignore the basic economic law of supply and demand.
The Student wrote: » So the housing list and housing crisis was made up? People still need somewhere to live. We are in lockdown at the moment, the demand for property still exists we just have a more important matter to deal with at the moment!
bubblypop wrote: » Right now, we have hardly any demand for properties. And when the recession comes we will have even less demand.
The Student wrote: » We still have a huge demand for properties. Some prices at the high end will decrease, it is unlikely prices are going to change dramatically. It never ceases to amaze me how people don't comprehend or just ignore the basic economic law of supply and demand.
IndieRoar111 wrote: » No offense dude but do you have a mass amount of residential properties and commercial properties in your investment portfolio or something? All you do on here is try convince people there will be no drop in property prices AND now you are saying companies will absolutely not makes changes to/or introduce WFH policies despite it saving them vast sums and metrics show it increases productivity. What gives?
awec wrote: » People shopping for 4 bed houses do not go looking at apartments instead, this is pure rubbish. Different people shop in different segments of the market. Nobody is weighing up an apartment in Smithfield vs a 4 bed gaff in Wexford. That is such an extreme difference that it just doesn't exist in reality. What happens in the real world is people weigh up a 3 bed house in Dublin with a small garden vs a 4 bed house in a commuter town with a slightly bigger garden. There are not "plenty" of houses for sale in rural Ireland. There was enough houses for sale to cope with the demand of the past decade, which was a relatively small demand. If the demand that drove prices up in Dublin, Kildare, Meath and Wicklow, which led to construction booms in these counties suddenly shifts to other rural counties then it doesn't take a genius to work out what the effect on property prices in those rural counties will be, and given our experiences of the last decade, how long it will take for supply to catch up. In reality this is a moot discussion because this mass exodus of offices in Dublin to WFH isn't going to happen and is nothing more than wishful thinking by some. The overwhelming majority will be back at their desk in their office as soon as this is all over.
Ohmeha wrote: » Further on this my company had already before this crisis had been shrinking size in Dublin City Centre and opening up small hub locations around commuterbelt areas like Wicklow/Kildare/Louth for local staff to drop in on a hotdesking basis to either work from the usual desktops or come in with their laptops
Villa05 wrote: » Alot of tired phrases from 2007 there, Land is the one resource that is in plentiful supply. We are one of the most underdeveloped nations in Europe. What would happen if the state decided to solve the supply demand imbalance in our major cities with the cheap printed money and abundance of state land, generating a significant for the state and affordable accommodation for key workers and dramatically increasing our competitiveness leading to increased productive investment
OwlsZat wrote: » I wonder will this round of price collapses make property owners less thirsty for future price increases. I cant think of a single good reason for having disproportionately high property prices. They suit nobody and simply fuel the boom bust cycle.
Villa05 wrote: » What the ecb is doing is printing money but loaning it out at - 0.75%. Its up to the banks to lend out as they see fit. Source David McWilliams podcast I just wonder if this is separate from the base ecb rate. If it is the banks will be mopping up this money to make their tracker mortgage book that little bit profitable again. If this is the case the money will be for the banks bottom line, no one else will see much benefit from it Inflation is a long way off with the level of debt in developed economies Why do you think property will protect you from inflation is there not much better assets out there that protect you from inflation
Sunny Disposition wrote: » If 20% of people who were working in an office two years ago are working remotely in 2022 then you have a huge change. The implications are massive, much better for spatial policy, housing, the environment and family life. What it is disastrous for is landlords in urban areas. But it is societal progress.
na1 wrote: Another factor is inflation: it is almost guaranteed that the ECB WILL start printing Euros in this situation. And the only way of protecting the savings for many family will be property investment. Not to say about the prices of the building materials and the land.
Sunny Disposition wrote: » As I mentioned earlier I sold some properties in Dublin shortly before Covid 19. I think the increase of working from home is going to take some of the sting out of the city market and that’s a good thing for the vast majority of people. Office work was increasingly being done remotely anyway, but Covid 19 is bound to accelerate the change. Until the 90s the premium for living in Dublin over other areas wasn’t nearly as big as it is now, it’s just mad expensive now. Technology has changed many aspects of life, not always for the better, but it’s now set to at least slow the intensity of urbanisation we have seen all over the western world. Dublin won’t be hollowed out, at least not for many years to come, but the runaway property market is likely to be brought back to heel over the next decade after 6/7 very buoyant years.
Adelyn Late Sportsmanship wrote: » Who would want an hour commute everyday each way for a small garden. Apartment is a much better choice but little will agree.
dor843088 wrote: » I think it's safe to say the only people getting a haircut in the near future are recent property purchasers.
Reversal wrote: » Clearly, unemployment will soar - but if government steps in to guarantee incomes and prevent evictions, then there may be far less change in the rental market than on the sales side."
awec wrote: Google were on the hunt for 200,000 square feet of office space before Christmas. They, like many other MNCs, have spent tens of millions of euro fitting out new buildings, some have even spent multiples of that building entire buildings or completely gutting others.
Villa05 wrote: » In addition, did you notice how quick Google were in instructing All there staff to work from home. I believe we had only 1 or 2 cases of Corona virus when they tested their systems. Could it be something they were planning for some time before covid
fifth wrote: » I reckon that's tough luck for managers then. Anyone interested in, or any business owners who are concerned about staff that work from home I recommend reading this book:Remote: Office not required The book will bust a lot of the myths that people at home are less productive (in fact can be more productive as they do not know where to draw the line between home and work life, or to obey the 'clock out' times..which is a whole other issue in and of itself). Being in the view of a manager can affect their perception of your performance. "Out of sight, out of mind" The morning 'hello!' with a smile. The "i'll grab you a coffee" all contribute to the perception of a 'better' employee, it's human nature. When your staff work from home you have none of that. So the work you actually deliver is the only visible metric and therefore those who don't pull their weight get found out when they work from home. Productive employees excel here. Also, I work from home full time and always have. I'm planning to buy a nice house down the country. But working remotely from other countries is not always permitted due to some tax issues - I know this is the case in my own place. Certain countries are available for remote workers to work from, some are not. I hope this cuts down on business travel, a lot of the time it's just not necessary. You can achieve 98% effectiveness from a zoom call compared to a face to face meeting. Is all that expense and carbon emission worth the extra 2% in every case? No. Have we been able to survive without business travel the last month? Absolutely yes. We've survived without the large office too, I hope businesses will reconsider and people won't rush back to the office, but I feel like they will. Offices offer social interaction (outside of work related interaction), often better chairs/desks and free food in some cases etc etc.
awec wrote: » Google were on the hunt for 200,000 square feet of office space before Christmas. They, like many other MNCs, have spent tens of millions of euro fitting out new buildings, some have even spent multiples of that building entire buildings or completely gutting others. So no, I don’t think it is something they are planning.
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