Ozark707 wrote: » In the last recession there was a prevalent mindset at the outset that 'Irish property does not go down in value', so in effect it was a death by a thousand cuts. Lots of people followed the market down and ended up selling at a very low price instead of cutting their price earlier and possibly then exiting the market. This time around no one in the right mind believes it is not possible for huge drops in property prices so if there are eager sellers they might try and get ahead of the curve. If this is the case then I don't expect whatever correction will come to take as long.
GreeBo wrote: » The Government is paying 4.5m over just 12 weeks to people who can't work from home. More than 600,000 people out of the 2.3m workforce If you think the rest can or will all continue to work from home I think you are badly mistaken. Companies are extending the work from home because it's not yet safe to return to a office and the logistics and cost of making it safe aren't worth it
Graham wrote: » Nobody is suggesting the entire country is about to start working from home on a permanent basis. However, there is a likelihood that it will be a serious consideration for SOME companies for at least SOME of their staff. That's not the same as saying it will suit everyone/every company. That's not the same as saying rural living is 'better' than living in Dublin.
Graham wrote: » I'd be surprised if we didn't hear that a lot more often ted1. I don't think the question is if it will happen. The more realistic question is; on what scale will it happen.
Bass Reeves wrote: » What would the make up of eager sellers be
Ozark707 wrote: » Possibly someone who wants to downsize, a trader upper who needs to offload their existing property to be able to buy the target one, someone who is relocating either internally or externally, probate sale, sale due to relationship breakdown....that is just off the top of my head.
Experience_day wrote: » People are steadily ignoring two words: automation & outsourcing. I know for a fact that out company in financial services will be considering outsourcing. And I'm leading a project on automation myself.. The idea people will be paid ludicrous Irish wages long term by multinationals if they can move specific parts of replaceable labour elsewhere....is hopeful at best.
Donald Trump wrote: » You can outsource to India, but you generally don't get the same efficiency or level of service as having it in-house. That is well recognized. (It is not a comment on Indians before anyone gets their knickers in a twist. It is a comment on the model of service provision.). Offshore teams have a place in providing 24-hour business continuity, but going fully offshore for any service is generally not 100% without drawbacks.
Experience_day wrote: Also forgot to quantify the moves we are seeing is in systems/work flow improvements in predominantly back office functions allowing for standardization of work which is then ripe for being able to offload.
Bass Reeves wrote: » They are all normal sales. They either happen or do not, none of the above decide to sell the still they act. Probate, relationship breakdown relocation happen. You hardly decide to break up with your husband or wife because it a better time to sell now than in 12 months time. Upsizing and down sizing can just as often be put on the long finger if the market is unstable. As the teacher would note on a school book "try harder next time"
eagle eye wrote: » Well get to the stage soon enough where companies like this are highlighted and shunned.
smurgen wrote: » I think alot of the EA and property investors here are banking on a V share recovery also. Can't say I'm that optimistic in the face of a no vaccine environment. I hope people have a good stomach for risk and terrible numbers.
combat14 wrote: » Looks like more property /inheritance taxes in the pipeline.. Reality bites: Watchdog warns on tax hikes and pension age as recession kicks inhttps://m.independent.ie/irish-news/news/reality-bites-watchdog-warns-on-tax-hikes-and-pension-age-as-recession-kicks-in-39194085.html
Snow Garden wrote: » I don't think anyone expects a V shaped recovery anymore. Zero hope of that. That was just wishful thinking. V Shaped Recovery = 2008 'Soft Landing'
JJJackal wrote: » I dont think anyone can know; all speculation. If an effective vaccine appeared tomorrow (there are trials ongoing) - happy days. That would be mass produced in a few months, If the virus died out for some reason... Either way I think post severe COVID there will be some type of recovery that will initially be v shaped - doubt we will get back to the pre COVID levels
Snow Garden wrote: » India is an interesting one. I believe India produces 1,000,000 IT graduates a year but the quality of those degrees is extremely varied. Every Indian family pushes their kids into IT whether they are suitable or not. The fact is that an Indian services company can provide 7/8 graduates at the same cost of an experienced IT resource in Ireland. All you need is 2 of those graduates to be productive and you're getting more bang for your buck. The other 5/6 graduates could be utterly useless but the hope is that the 2 bright sparks will help them add some value until they get more experienced. I understand the quality of Indian IT resources has improved in the past 5 years, albeit from a low base.
Experience_day wrote: » The problem is when you're talking about financial services either in retail (natwest disastrous it issue) or street banking (investment banking etc), the costs of something going wrong is punitively high. I know personally of a case where several million was lost in a day because of the Indian culture preventing something being easily mitigated. However there are a lot more places coming online without the same problems. That's what makes it all the more powerful and dangerous for Ireland.
Snow Garden wrote: » But it's extreme speculation to suggest a V shaped recovery. Extremely low probability. Miracle stuff. The most likely scenario is an L shaped recovery - a lengthy depression. For example, ask any restaurant owner, café owner, hotelier whether etc he/she expects a V shaped recovery given (a) We got 11,000,000 tourists in 2019 (b) Social distancing will be enforced (c) There will be a lot less disposable income due to unemployment, global downturn etc. (d) Many office workers will be working and eating lunch at home
Experience_day wrote: You're going to shun an American firm that outsourced its operations to Ireland and then again to somewhere else? Lots barely even sell anything in Ireland, and the ones that do won't give a sh1te.
Snow Garden wrote: » I hear you. But that cultural issue of hiding problems can be overcome. Investments in automated testing can help. Western culture can also be a problem sometimes - look how one man's ego brought down Barings Bank
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