Hulk Hands wrote: » Where do you fall on that spectrum, considering you've almost 300 posts on the thread and all you've contributed is to repeatedly call people clowns or spoofers while offering zero insight of your own. If Boards is the last place to come to get advice on property, as you state above, then why do you come back here multiple times every single day?
schmittel wrote: » Can someone explain to me why the whole country will go bankrupt if prices drop 50%? People say this as if we will all be at soup kitchens if the property market tanks 50% again, but I don't really understand what the doomsday scenario is. Anybody who does understand how it would damage Average Joe care to spell it out for me?
cnocbui wrote: » Other than go bust, I don't know what the banks would do in a market where lending money for housing was obviously untenable.
cnocbui wrote: » I don't see why I and other property owners should see a 50% reduction in the value of our assets, just to make some socialists happy. If the government came along and helped itself to 50% of the deposit you had saved for a house, I'm sure you would be delighted.
cnocbui wrote: » Perhaps one day, when you own your own home, you will be in a position of looking to trade up, or sell to relocate, or trade down, and I'm wondering if you would be quite so enthusiastic for the value of it to suddenly drop 20%.
beanyb wrote: » You should look into the local authority Rebuilding Ireland Home Loan - http://rebuildingirelandhomeloan.ie/. If you are earning under 50k you can borrow more from them than you can with a bank. Takes a bit longer but worth it!
Pivot Eoin wrote: » It's not the ideal scenario. Clownish view. If Property prices drop 50%, you can throw the country in the bin for the next 10 years. This coming from a fellow FTBer. Think a bit bigger than yourself.
standardg60 wrote: » Why would it throw the country in the bin? Prices dropping 50% would solve the whole homelessness/rental/ftb crisis would it not? Unless you are only concerned with maintaining the price that you paid?
snoopboggybog wrote: » I seriously hope house prices drop the 20% that some are speculating. Might sound selfish but I am so pissed with this 3.5 rule. On 42K and houses in my area are going for around 195,000 which leaves me needing a deposit of 48K. If they drop 20% i could buy one of them in the morning. Without the 3.5 rule I have the 10% deposit of 19,500 and a 25 year mortgage at 823 euro a month as take home pay is 2780 a month and is only going to go up. But sure what can you do. Save another 28,000K over the next 18 months. Job security and profession really need to come into the 3.5 rule. Sorry for the rant but it is just so fecking frustrating.
Hubertj wrote: » If i was involved in the market as you seem convinced why would i join boards to get insights? You seem to have a very pessimistic view of the property market but looking at your posts on other threads I don’t think you have any credibility - I would suggest you need help. BoarDo is the last place to come to get advice on the property market.
Hubertj wrote: » Not involved in the market but thought I might learn something about it on boards. Definitely the wrong place for that. Place is full of liars, spoofers, doom merchants and the odd person with an interesting insight or opinion. I don’t know what HBFI is. So back to my question on how society would operate without credit?
Sheeps wrote: » I'd be still expecting homes for first time buyers to increase in price to be honest.
Maz2016 wrote: » Lads why ye are even talking about 50% is beyond me. I’m not claiming to be any expert but surely be to God a bit of common sense would give a guesstimate of 10-15% best outcome over the next year, depending on location? Going with that, hope and pray that your job and pay continues as normal. I went to ptsb last week to get AIP. I asked if they were a lot quieter now (with mortgages). She said no, their busier than expected. Those of us working from home are saving that bit more, people have time to apply for mortgages and she said a lot of people applying already have steady deposits saved. There is still a shortage of housing so that’s not driving prices down. In the area I’m looking I haven’t seen any price drops yet. I’m interested in one property. I rang 2 days ago to see where the current offers are at, it’s 5k under the asking price at 185k. People are still putting in offers. We are reading about a lot of rental properties coming vacant but remember with the lockdown, people moved home with parents, students moved home, international students went back home etc. These will fill up again
pearcider wrote: » I wouldn’t bother. An insufferable troll and rude to boot. He says he’s not “involved in the ‘market’“ but if you believe that you’d believe anything.
Hubertj wrote: » Why bother using google when there are geniuses such as yourself to enlighten the less knowledgeable. Thanks for the insight on Greece. Really interesting
standardg60 wrote: » Hmm well you could Google it. But seeing as you concentrate on posting in property threads i assumed you knew. Silly me. To answer your question, you earn, you save for what you want, you pay for it. Greece used to have no mortgages, people only added another floor to their house when they could afford it, then they joined the EU..
