Property Market 2020

Auctioneera · 22-05-2020 6:30am

cunnifferous wrote: »

I happy enough for you to post here. It's obvious who you are and where you(s?) are coming from. More opinions the better, why not? But at the same time don't go getting upset when people call out your more provocative pronouncements.

That's fair - we won't get upset if people disagree with us. We just want to be part of the discussion!

Auctioneera · 22-05-2020 6:35am

EagerBeaverton wrote: »

Genuinely not being snide when I say this but the phrase "offer of the guide price" is arbitrary and doesn't suggest the property market remains stable - all it means is that you likely valued the house accurately at €225,000 in the current climate. You could have put it up for €240,000 and gotten an offer below the guide which also technically wouldn't indicate the market is dropping, it could just mean you overvalued the property.

Also, from what I can tell from Google maps street view (so I could be wrong), another identical apartment to that one (ground floor, end of row) in the same development sold for €240,000 on 18th March, just 65 days ago. I have no knowledge of the condition of the other apartment and the aspect of yours is East while the other one was North-North-West so this might be a completely unfair comparison, but if the apartment you are currently selling goes for €225,000 (which of course it might not, it might go higher obviously), then that's a 6.5% decrease in value compared to a sale just 65 days ago.

You do make a fair point, most here have incentives either way, at least we'd be aware of yours!

I'm nobody to say anything to anyone about what they can and can't do, so this is just an opinion, but there is something about an EA posting details of a single offer on a single house that just seems a bit off the mark. I mean will you post up the next time you get a low ball figure? In fairness you did acknowledge one swallow and all, but the fact that you said your sellers aren't entertaining low ball figures suggests you're getting low ball offers but you ended up posting about the one offer at the guide price as an "encouraging sign", so are you going to be fair and post each time you get an offer below the guide price so there's data to indicate how many offers aren't matching the guide prices and are 'discouraging signs'? I'm 100% genuinely not being flippant with you and in fairness all it takes is one person willing to buy the gaf to keep prices up so all the low ball offers are also meaningless if only one person is happy to purchase.

Fair point, well made. I think from now on, we'll skip posting about offers on individual properties.

Auctioneera · 22-05-2020 6:49am

accensi0n wrote: »

Would you do a 5% discount for boards.ie members?

Yes, we would for sure if that helps people on here to see that we genuinely want to be part of the discussion. Just quote that you are a Boards member if you call us and we will get your 5% discount applied. Good idea.

Empty_Space · 22-05-2020 6:51am

Auctioneera wrote: »

Fair point, well made. I think from now on, we'll skip posting about offers on individual properties.

The desperation to come here and say all is rosey because 1 property has offer at asking is hilarious.

Talk about confirmation bias.

Auctioneera · 22-05-2020 6:52am

Empty_Space wrote: »

The desperation to come here and say all is rosey because 1 property has offer at asking is hilarious.

Talk about confirmation bias.

Ya that was a bad idea of a post - we have learned our lesson and won't do again.

Empty_Space · 22-05-2020 6:55am

Auctioneera wrote: »

Ya that was a bad idea of a post - we have learned our lesson and won't do again.

I think you should be out of this discussion altogether personally. Not because you've been forbidden by admins but because you have the sense to see it looks unprofessional.

stayback · 22-05-2020 7:01am

Everybody here is coming at this topic from a different angle be it an estate agent , first time buyer , investor etc. All will have their own ideas on how things should be and will be. The truth is it’s way too early to call it. 2008 was completely different property prices dropped overnight because banks didn’t have the money to lend. Their was a vacuum even public and civil servants struggled to get mortgages.
Things are different this time. Banks are well capitalised the problem this time is going to be the confidence of the people buying . We don’t know yet if unemployment is going to go up after this all ends we don’t know are people’s wages going to be cut.
House prices will take a dip but nobody can predict by how much as the market will have to dictate that. And the market needs to do its thing.
Rents by the way should normalise too for the same reasons as unemployment and wages cuts. The days of getting €2,500-3,000 a month for an apartment in Dublin should be behind us.

Pivot Eoin · 22-05-2020 7:39am

Auctioneera wrote: »

Ya that was a bad idea of a post - we have learned our lesson and won't do again.

Dont really have a problem with Auctioneera being in the chat personally, but the problem will be that a certain faction Users will always be looking for any reason to jump on you and it will dictate the conversation in an "Us vs You" kind of direction.

If the actual users here an just let Auctioneera say their piece without questioning their reasoning for being here then I think it works fine. At the end of the Day Boards provides a service paid to businesses where they can use the forums from an official account should they pay a fee.

Auctioneera have done that, so your problem is with Boards, not Auctioneera. Its up to users themselves to see through any fluff they post (not saying they will post fluff), as is done with any other Articles from EAs or Property sites etc.

Zenify · 22-05-2020 8:07am

Looks like more and more companies in Dublin are committed to long term work from home.

Facebook was mentioned on this forum a good while ago that they would not move to wfm as they invested too much into Dublin with the new headquarters

They just announced yesterday that half their workforce could work from home in 5 to 10 years. I dont think they specifically mentioned Dublin. Hopefully other posters heard more specifics?

https://www.google.com/amp/s/amp.theguardian.com/technology/2020/may/21/facebook-coronavirus-remote-working-policy-extended-years

smurgen · 22-05-2020 8:25am

Yep, pressure valves releasing in alot of areas. Loads of variables coming together to show the downward trend evolving. This is just one of them. This is Facebook trying to match twitter's offer to staff. It's an arm's race to please talent and retain them.

https://twitter.com/davidmcw/status/1263743300374278145?s=19

Hubertj · 22-05-2020 8:30am

smurgen wrote: »

Yep, pressure valves releasing in alot of areas. Loads of variables coming together to show the downward trend evolving. This is just one of them.

https://twitter.com/davidmcw/status/1263743300374278145?s=19

Definitely a positive sign and could also be a good retention tool for large companies as employees get older and start thinking about starting a family. Younger people will want to have the big city experience and al that goes with it.

FVP3 · 22-05-2020 8:32am

bubblypop wrote: »

Auctionera is an estate agent

Thats perfectly clear though, and doesn't necessarily invalidate any position.

Padre_Pio · 22-05-2020 8:33am

smurgen wrote: »

Yep, pressure valves releasing in alot of areas. Loads of variables coming together to show the downward trend evolving. This is just one of them. This is Facebook trying to match twitter's offer to staff. It's an arm's race to please talent and retain them.

FB employ 5000 people in Ireland, mean pay in Dublin is around €150k.
There'll be a lot more penthouses in Dublin up for rent if this is true.

FVP3 · 22-05-2020 8:37am

If FB allow remote 50% remote working in Dublin then their remote staff won't be in Dublin, with the exception of those already here. No point coming here to work from home.

To be honest while I like WFH I would have found it very odd when younger.

Claw Hammer · 22-05-2020 8:44am

WFH is just a fad, like "blues sky thinking" , outsourcing, "going forward", "at this point in time". It will all pass.

Zenify · 22-05-2020 8:57am

Claw Hammer wrote: »

WFH is just a fad, like "blues sky thinking" , outsourcing, "going forward", "at this point in time". It will all pass.

Do you think it will pass because employers dont want it or the employees dont?

Hubertj · 22-05-2020 9:01am

Zenify wrote: »

Do you think it will pass because employers dont want it or the employees dont?

employers need to offer it to both attract and retain employees. If it makes employees happier to have the option of wfh full or part time they should be happier and more likely to stay with or move to that company....

Blueshoe · 22-05-2020 9:02am

The Belly wrote: »

Yes but the problem is its not going to where it should go. It will keep the banks sorted and big business but small companies wont have any access. The banks will be flooded with liquidity but try and access it and rules will be tighter then before.

Small and medium businesses will be receiving grants to reopen. It's part of the plan.
The covid payment to staff on the books is also a form of grant.

22-05-2020 9:11am

stayback wrote: »

2008 was completely different property prices dropped overnight because banks didn’t have the money to lend. Their was a vacuum even public and civil servants struggled to get mortgages.

They really didn't though. I watched the market, things were starting to stall in 2007, I bought in 2009, when things were bad. Prices continued down until at least 2012/13.
Also, I had no issues with getting a mortgage in 2009. In fact I was given a lot more than I could get now. (public service)

smurgen · 22-05-2020 9:14am

Claw Hammer wrote: »

WFH is just a fad, like "blues sky thinking" , outsourcing, "going forward", "at this point in time". It will all pass.

The men with the money e.g Facebook disagree. I'm sure you probably thought Facebook was a fad also. Meanwhile their market cap is around 600 billion.

SteelyDanJalapeno · 22-05-2020 9:17am

Claw Hammer wrote: »

WFH is just a fad, like "blues sky thinking" , outsourcing, "going forward", "at this point in time". It will all pass.

Outsourcing was a fad?
Not sure what you mean by going forward or at this point in time, post doesn't make much sense.
Is this after hours?

alan_mur · 22-05-2020 9:34am

As a previous seller with Auctioneera, they provided a great service and were significantly cheaper than other estate agencies. I completed in March.

I tend to disagree with the view that prices won't fall but I do believe that there will be reductions at certain price points and markets.

From a Dublin perspective:

On the demand side, driving down the prices:
Short term rentals are dead.
Long term rental prices are dropping, purely down to supply and demand. So rental yields will drive down price
I'm not going back into the office until at least October, probably not til next year so remote working will increase and become normal. SOme people will move out of Dublin.
Some foreign workers that may have been potential buyers may work from their own country.
Banks are going through there mortgage approvals and reducing the loan amounts in line with affordability measures. I got emailed by an agent yesterday to say that I couldn't see a house until I could show that I had mortgage approval in place.
Sale agreed are falling through, this is a short term problem for the market.
There is a significant green agenda now and the Government will look to bring in retrofit grants. There are lots of 30s,40s,50s,60s houses on the market with BER G,F, E where the house aren't currently suitable to live in. They require €100k - €250k to refurbish

On the supply side
Houses are going on the market. There are 46 new listing on daft in Dublin North city in the last week.
Planned new homes will continue to be built, it's that or lay off the builders. There is no where from them to go this time around.
There are plenty of empty large home due to people in care home and health issues. These will come on the market.

Donald Trump · 22-05-2020 9:36am

Claw Hammer wrote: »

WFH is just a fad, like "blues sky thinking" , outsourcing, "going forward", "at this point in time". It will all pass.

Providing office space for employees is expensive. A company might be willing to accept the risk of a decrease in productivity if it can reduce those costs. Additionally it might make roles more attractive to staff. If you are a parent commuting 40 minutes each way to work, you might be happy to work in a remote job that pays 10% less.

If it saves the company money, they will do it. There is a good chance that it will.

Billythekid19 · 22-05-2020 9:46am

Villa05 wrote: »

Sarah mcInenery rte radio 1 yesterday
2 sections
1 general construction
2 children's hospital

It was a developor that rubbished Tom parlon claims

Tom Parlon was on radio 1 this morning to clarify he meant 40% decrease in prodcuctivity rather than 40% increased costs to build the childrens hospital!

Tallback · 22-05-2020 9:55am

Padre_Pio wrote: »

I've seen your fees policy and as I said I welcome the discussion.

But this is a discussion, a forum where ideas can be exchanged and hopefully peoples views and opinions mature and grow.

But you're an auctioneer website, not a person (even if there's a person typing out responses) You're outlook cannot change, because to do so means you lose money. So even if the property market is burning down, you'll say it's alright and put on a brave face, like the orchestra on the Titanic.

The reps on the Talk To forums like Liberty or Irish Water are no different to you. I would also question if we're talking to one person, or are their multiple people with access to this account?

EDIT: of course this is just one persons opinion and i have zero power to do anything.

Everyone on this forum has some sort of angle - you'd have to question the sort of person who has no agenda with the property market and spends their free time discussing it!

To be fair to Auctioneera - unlike a lot of others he's completely transparent as to his angle. It's even in the username! People can take that into consideration when assessing his points but to my mind its hugely useful to have someone "inside" the property market giving their view

SozBbz · 22-05-2020 10:01am

alan_mur wrote: »

As a previous seller with Auctioneera, they provided a great service and were significantly cheaper than other estate agencies. I completed in March.

I tend to disagree with the view that prices won't fall but I do believe that there will be reductions at certain price points and markets.

From a Dublin perspective:

On the demand side, driving down the prices:
Short term rentals are dead.
Long term rental prices are dropping, purely down to supply and demand. So rental yields will drive down price
I'm not going back into the office until at least October, probably not til next year so remote working will increase and become normal. SOme people will move out of Dublin.
Some foreign workers that may have been potential buyers may work from their own country.
Banks are going through there mortgage approvals and reducing the loan amounts in line with affordability measures. I got emailed by an agent yesterday to say that I couldn't see a house until I could show that I had mortgage approval in place.
Sale agreed are falling through, this is a short term problem for the market.
There is a significant green agenda now and the Government will look to bring in retrofit grants. There are lots of 30s,40s,50s,60s houses on the market with BER G,F, E where the house aren't currently suitable to live in. They require €100k - €250k to refurbish

On the supply side
Houses are going on the market. There are 46 new listing on daft in Dublin North city in the last week.
Planned new homes will continue to be built, it's that or lay off the builders. There is no where from them to go this time around.
There are plenty of empty large home due to people in care home and health issues. These will come on the market.

As for houses going on the market, some of those are likely relistings rather than real "new" listings. Even in normal circumstances new listings would dry up at this time of year anyway as agents start to wind down for the summer. Most sellers would get their properties listed by April or keep their powder dry until September.
New homes will not continue to be built. Many developers will lay people off or stop using their subcontractors who will in turn lay people off. Developers will not build if they cant get the finance and/or can't make the margins necessary. That industry will shrink.
As for empty large houses coming to the market, are you talking about old people who have actually died? You need to factor in the time it takes to go through probate and likely complete the Fair Deal process. Its not quick. Also many of these homes are likely to be the type that need €100-250k to be brought up to standard, so they're not going to be a straight forward option for most FTBs.

cnocbui · 22-05-2020 10:01am

alan_mur wrote: »

...

Planned new homes will continue to be built, it's that or lay off the builders. There is no where from them to go this time around.
There are plenty of empty large home due to people in care home and health issues. These will come on the market.

I doubt planned new homes will be built until there is greater market certainty. I can't imagine any builder proceeding at the moment if there is even the slightest chance of a return to a dysfunctional market with prices below cost.

Do have some numbers or evidence for these 'plenty' of large homes due to the owners in care?

Auctioneera · 22-05-2020 10:07am

alan_mur wrote: »

As a previous seller with Auctioneera, they provided a great service and were significantly cheaper than other estate agencies. I completed in March.

I tend to disagree with the view that prices won't fall but I do believe that there will be reductions at certain price points and markets.

From a Dublin perspective:

On the demand side, driving down the prices:
Short term rentals are dead.
Long term rental prices are dropping, purely down to supply and demand. So rental yields will drive down price
I'm not going back into the office until at least October, probably not til next year so remote working will increase and become normal. SOme people will move out of Dublin.
Some foreign workers that may have been potential buyers may work from their own country.
Banks are going through there mortgage approvals and reducing the loan amounts in line with affordability measures. I got emailed by an agent yesterday to say that I couldn't see a house until I could show that I had mortgage approval in place.
Sale agreed are falling through, this is a short term problem for the market.
There is a significant green agenda now and the Government will look to bring in retrofit grants. There are lots of 30s,40s,50s,60s houses on the market with BER G,F, E where the house aren't currently suitable to live in. They require €100k - €250k to refurbish

On the supply side
Houses are going on the market. There are 46 new listing on daft in Dublin North city in the last week.
Planned new homes will continue to be built, it's that or lay off the builders. There is no where from them to go this time around.
There are plenty of empty large home due to people in care home and health issues. These will come on the market.

Thanks Alan - delighted you were happy with our service.

Diarmuid · 22-05-2020 10:08am

Billythekid19 wrote: »

Tom Parlon was on radio 1 this morning to clarify he meant 40% decrease in prodcuctivity rather than 40% increased costs to build the childrens hospital!

Yeah "clarifying" after the last pronouncement went down like a sh*t sandwich.

FVP3 · 22-05-2020 10:23am

Claw Hammer wrote: »

WFH is just a fad, like "blues sky thinking" , outsourcing, "going forward", "at this point in time". It will all pass.

I doubt it, if the company saves money on corporate rent and cheaper workers why wouldn't they continue with it? The crisis has accelerated a process that was ongoing anyway.

alan_mur · 22-05-2020 10:25am

cnocbui wrote: »

I doubt planned new homes will be built until there is greater market certainty. I can't imagine any builder proceeding at the moment if there is even the slightest chance of a return to a dysfunctional market with prices below cost.

Do have some numbers or evidence for these 'plenty' of large homes due to the owners in care?

Last official figures from the CSO (2016)

1percent · 22-05-2020 10:40am

Hi all,
I have a theory based on macro economics and there are a few variables involved and I would like to hear feed back on what ye think.
So firstly the knowns,
-Money is being printed hand over fist by central banks.
-Production costs and capital expenditure of all levels of the european economy have increased, all that perspex isn't cheap, distancing on the factory or shop floor reducing productivity etc.
-Incomes have remained (relatively) stable and consumption has dropped.
So as we get back to a functioning economy I think inflation will start to rise as everything from your loaf of bread, your bar of dairy milk, your flight to the south of spain, your VW Golf, your new build home!!! have to increase to cover the costs. This is the inflation that the ECB has been wanting for years, prices rising in the real economy not just in the financial markets.
But if this inflation rises above 2% then interest rates need to rise reducing the supply of money and to get it back to the 2% mark, the germans will be sure of this.
So increased interest rates increase mortgage costs reducing loan value reducing house prices.

The wild card then, if money is being consumed in the real economy and equities are deflating, Bonds become a better store of wealth meaning continued cheap gov debt. If there is an over supply of construction workers in the market because developers are not developing at the same rate because of increased cost with reduced value and commercial property is back from its lofty heights. do the goverment use cheap debt and a freely available labour pool to start a social house building project (politically motivation is there as it grasps SF whip hand) removing the HAP recipients from the Private rental market and reducing demand and yields further.

What do ye think of my amateur economic projection?

I'm not in a position to buy for at least another 12months anyway renting in a share that I'm happy with. And able to save more than I pay in rent each month.

Just a fun thought experiment.

Padre_Pio · 22-05-2020 10:44am

FVP3 wrote: »

I doubt it, if the company saves money on corporate rent and cheaper workers why wouldn't they continue with it? The crisis has accelerated a process that was ongoing anyway.

If WFH is more attractive to employees than gyms and smoothie bars, you can guarantee companies will move to a WFH policy.

It costs an employer about €2000 to set up a home office, with desk, chair, screens, etc. It costs far more to maintain an office space with the same equipment, plus utilities, cleaning, security, maintenance etc.

If FB and Twitter are doing it, I guarantee every IT company is at least considering it.

Even if you have to come into a Dublin office one day a week, a commute from Galway or Cork is very doable.

Villa05 · 22-05-2020 10:53am

Billythekid19 wrote:

Tom Parlon was on radio 1 this morning to clarify he meant 40% decrease in prodcuctivity rather than 40% increased costs to build the childrens hospital!

As the Conducter stated he was most likely "kite flying" to test the reaction. He is an experienced politician after all.

I have no doubt he said what was reported but tracked back on the public backlash

Michael o Flynn, the Cork developer rubbished any suggestion that covid 19 would have any meaningful impact on costs on the tonight show on virgin media

Tallback wrote:

To be fair to Auctioneera - unlike a lot of others he's completely transparent as to his angle. It's even in the username! People can take that into consideration when assessing his points but to my mind its hugely useful to have someone "inside" the property market giving their view

Agreed, I find it positive for the thread to have a visible industry insider to debate some of the claims made here

SozBbz wrote:

New homes will not continue to be built. Many developers will lay people off or stop using their subcontractors who will in turn lay people off. Developers will not build if they cant get the finance and/or can't make the margins necessary. That industry will shrink.

It would be interesting if what you say come to fruition, because the commercial building sector will certainly stall given uncertainty in retail and office space

With so many tradespeople out of work and the Government paying over 1 billion per year in resedintial rents. It would be a no brainer for the Government to intervene with a money saving residential building program where they are needed. New money will be close to 0% for stimulus programs

I hear it reported yesterday that Gov formation talks were stalled on whether new building should be targeted for social/affordable or FTB

There is a happy medium in there somewhere.

Villa05 · 22-05-2020 11:01am

1percent wrote:

The wild card then, if money is being consumed in the real economy and equities are deflating, Bonds become a better store of wealth meaning continued cheap gov debt. If there is an over supply of construction workers in the market because developers are not developing at the same rate because of increased cost with reduced value and commercial property is back from its lofty heights. do the goverment use cheap debt and a freely available labour pool to start a social house building project (politically motivation is there as it grasps SF whip hand) removing the HAP recipients from the Private rental market and reducing demand and yields further.

1percent wrote:

What do ye think of my amateur economic projection?

1percent wrote:

Just a fun thought experiment.

My long lost brother, welcome to boards

Mic 1972 · 22-05-2020 11:25am

Genuine question, how are people liking Working From Home?
I've been doing it since January and I'm expected to be on it until December as the company i work for now specifically hired me as a home based associate.
Honestly I miss all things I used to hate when being at the office, the daily penny chats, the background chatter, the coffee machines, the canteen routine, etc.. This combined with lock down is making me extremely bored

If there is life after Covid I'm probably going to go for an office based job again next year

Captainsatnav · 22-05-2020 11:25am

Padre_Pio wrote: »

If WFH is more attractive to employees than gyms and smoothie bars, you can guarantee companies will move to a WFH policy.

It costs an employer about €2000 to set up a home office, with desk, chair, screens, etc. It costs far more to maintain an office space with the same equipment, plus utilities, cleaning, security, maintenance etc.

If FB and Twitter are doing it, I guarantee every IT company is at least considering it.

Even if you have to come into a Dublin office one day a week, a commute from Galway or Cork is very doable.

This is what I hope is in store. Living (existing) in Dublin but would like to buy a house, probably in Cork in the next few months.

HodlforWin79 · 22-05-2020 11:35am

Claw Hammer wrote: »

WFH is just a fad, like "blues sky thinking" , outsourcing, "going forward", "at this point in time". It will all pass.

You obviously don't work in the tech game or know anyone who does. That post is on par with having a luddites view of things or just not having any insight into the topic.

1percent · 22-05-2020 11:40am

Villa05 wrote: »

My long lost brother, welcome to boards

No bother, I've always been here just keep my mouth shut unless I have something to say.

Captainsatnav · 22-05-2020 11:40am

HodlforWin79 wrote: »

You obviously don't work in the tech game or know anyone who does. That post is on par with having a luddites view of things or just not having any insight into the topic.

dem computers are a fad

22-05-2020 11:42am

Facebook/Mark Zuckerberg did a live stream yesterday where he said he expects 50% of their workforce to be remote working in the next 5-10 years. It is 100% coming.

This is totally unrelated, and some ways down the line, but my wife and I are considering looking at a holiday house type thing in Ireland somewhere. It wouldn't really be an investment, we'd want to use it ourselves, somewhere on the coast. Would have to be fairly cheap so the question is would anyone have recommendations for areas of the country to look at?

Villa05 · 22-05-2020 11:43am

Mic 1972 wrote:

Genuine question, how are people liking Working From Home? I've been doing it since January and I'm expected to be on it until December as the company i work for now specifically hired me as a home based associate.

Its very much horses for courses, some people love it some hate it and others carry on regardless. Like most thing you miss something more when it's gone

Are you 100% wfh

awec · 22-05-2020 11:52am

Alexander Wrong Shortchange wrote: »

Facebook/Mark Zuckerberg did a live stream yesterday where he said he expects 50% of their workforce to be remote working in the next 5-10 years. It is 100% coming.

This is totally unrelated, and some ways down the line, but my wife and I are considering looking at a holiday house type thing in Ireland somewhere. It wouldn't really be an investment, we'd want to use it ourselves, somewhere on the coast. Would have to be fairly cheap so the question is would anyone have recommendations for areas of the country to look at?

Bundoran.

22-05-2020 12:00pm

1percent wrote: »

................do the goverment use cheap debt and a freely available labour pool to start a social house building project (politically motivation is there as it grasps SF whip hand)........

A decent lash of social house building is well overdue. Bit of a nightmare in itself though as loads of the crowd on the housing list are quite fussy about where they live etc etc etc

22-05-2020 12:02pm

Alexander Wrong Shortchange wrote: »

.......... somewhere on the coast. Would have to be fairly cheap so the question is would anyone have recommendations for areas of the country to look at?

Youghal in Cork, property prices were on the floor there at the best of times.

Hubertj · 22-05-2020 12:03pm

Mic 1972 wrote: »

Genuine question, how are people liking Working From Home?
I've been doing it since January and I'm expected to be on it until December as the company i work for now specifically hired me as a home based associate.
Honestly I miss all things I used to hate when being at the office, the daily penny chats, the background chatter, the coffee machines, the canteen routine, etc.. This combined with lock down is making me extremely bored
If there is life after Covid I'm probably going to go for an office based job again next year

I miss the office and look forward to getting back there. I don’t have a commute - 20 min run. I may continue to wfh once a week when things return to a level of normality. I miss socia interaction with people on a personal and professional level. Developing interpersonal skills, confidence, etc is better done, in my opinion, face to face.
My home office set up is fine so that’s not a factor in my preference to an office

cnocbui · 22-05-2020 12:05pm

Twitter will allow some of its workforce to continue working from home "forever" if they choose, the company confirmed to CNN Business on Tuesday.
The decision reflects how some measures implemented to deal with the pandemic could lead to a new normal for corporate America, even after the immediate health crisis.

https://edition.cnn.com/2020/05/12/tech/twitter-work-from-home-forever/index.html

All it will take for a really big change would be for governments to grow a pair and increase payroll type taxes for workers in offices in major cities and reduce or eliminate such taxes for working from home.

Instead of the constant pressure to spend more and more public money on improving infrastructure in cities for the near exclusive benefit of corporations, they should provide incentive for the corporations to decentralise and get out of cities so they don't have to basically subsidise the freeloaders. They pay stuff all tax and expect governments to spend a huge proportion of public revenues to their near exclusive benefit.

what_traffic · 22-05-2020 12:18pm

1percent wrote: »

What do ye think of my amateur economic projection?

Looks reasonable enough to me, Central Banks Worldwide will have to inflate there way out of this.
Not sure on the local projections around housing, that looks like a harder ideology to break down if the FG'rs are in next Gov I'd say.

Mic 1972 · 22-05-2020 12:54pm

Hubertj wrote: »

I miss the office and look forward to getting back there. I don’t have a commute - 20 min run. I may continue to wfh once a week when things return to a level of normality. I miss socia interaction with people on a personal and professional level. Developing interpersonal skills, confidence, etc is better done, in my opinion, face to face.
My home office set up is fine so that’s not a factor in my preference to an office

Same here. I'm not fully set up for a proper home office as IKEA still closed but I will soon. But I don't see myself spending 8 hours per day for the next few years working form my box room. Hopefully WFH will become an option available to everyone without being the only option available

Cal4567 · 22-05-2020 1:05pm

The tax to try prevent property owners from hoarding land was only collected by 1 in 8 councils last year

https://www.thejournal.ie/vacant-site-levy-5104669-May2020/

The report showed only four of the country’s 31 local authorities – Dublin City, Kilkenny, Waterford and Wicklow – had made any collection of the levy last year, while more than a quarter of council had no active register of vacant sites.

I do really struggle to appreciate how local authorities can be effective stakeholders in the general property market. They complain about not being able to demonstrate local management and accountability but when are given the opportunity to do so, fail miserably. I think I'd much prefer my tax dollars to be used by central government with a country wide approach, we are really quite a small country.

Property Market 2020

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