bbari wrote: » When you pay €1,000 rent, thats €1,000 "wasted". When you pay €1,000 mortgage, €300 will be "wasted" to pay bank interest and the balance will be paid off the capital.
neutral guy wrote: » I tell you simple thing.Taking mortgage now and selling your house later you will never get all your money back ! For example,my friend bought house for 220K in 2004. He paid back to the bank about 300K Today his house cost 200K. And this is Fact ! Any property in Ireland did not brought to any house owner 30 per cent rise in price per last 15 years ! Unless property was bought in recession time.
ebayissues wrote: » however as for rent you'll get absolutely zero, big fat zero.
neutral guy wrote: » There will be SUPPLY only and no demand when people will dont have jobs ! Talking about Supply and demand dont forget talk about buying force ! I perfectly remember 2009 when nobody did not build and nobody did not buy !
Bass Reeves wrote: » From about late 2006 on some developers were completing sites before selling houses. This was because banks were willing to find the full development and prices were riding so fast that it seemed a guarantee to make large profits. Banks were lending 110% mortgages to borrowers and 4-5 times wages were not uncommon. When it started to slow down builders and banks exasperated it. Builders by trying to keep crews together and banks continued to lend to developers. On top of that lending rates went from 2-3% to 5%+ This time banks are not over lending to either developers or borrowers. Builders have no stock of completed houses. This slowdown should beore like 2002-2004 rather than 2008-2014
cute geoge wrote: » I see a glut of second hand houses after coming on the market in our local town with no drop in asking prices anyway .The government and all the other stake holder will all do there level best to prevent house prices dropping in price .The next 6 months will tell a lot
TheSheriff wrote: » Starting to see alot more supply come on stream now in Dublin which is great to see. Not noticing any decrease in demand, which I think at our price point (400k-500k) is reflected in the CBs info that tax returns have been marginally impacted. Lockdown simply didn't impact the majority of those competing in this bracket. Prices would be the same as pre Covid. No drastic increases. Harder to get viewings organised however. You can't just rock up out of nowhere for an open viewing anymore, which we regularly did. We were at two viewings this morning and I can sadly report things are as competitive as ever. Strict time limits enforced for viewings. The next couple were waiting outside as we left. Did someone say supply was trivial ??
MattS1 wrote: » Can't see Dublin city prices falling much at all. Most still going 10pc over asking. Government won't build a thing in a recession so prices will stay the say or increase.
ebayissues wrote: » Anyone buying in the 400K - 500K bracket would have good jobs and most likely be unaffected negatively by the covid pandemic.
stayback wrote: » That’s a very sweeping statement . I have a so called “good job” but have been on the COVID subsidy and my wife is on the COVID subsidy. We bought a house for 450k we are managing because we have savings but only for that we were fuc***. We will hopefully go back to pay without subsidy soon. This pandemic has hit everyone bar some public servants.
cute geoge wrote: » should that not read The pandemic has hit everyone bar ALL public servants
neutral guy wrote: » By my own look the houses in Dublin is mad overpriced and there is huge buble.I could buy brand new 3 beds house at good location for 230K 60/70km from Dublin,the good brand new car for another 100K !!! And I will still have 200K left in my pocket !And believe me guys,with 200K left I will travel to work to Dublin in my great car with smile on my face !
Shelga wrote: » I have an offer in on a house that needs work, but now I’m reconsidering waiting another 6 months. I’m already offering near the top of what I can afford, but I could see myself living there for 10+ years if necessary. I’m living at home and not paying rent, so can afford to sit tight and just save, but I’m dying to get out. I really don’t know what to do. What would people advise?
lastusername wrote: » I think anyone who thinks there will be big price drops is dreaming. The one big factor determining whether big drops will happen is simply affordability - whether people can afford the prices sellers want. Yes, there is a widespread unemployment and the economy is being propped up, but many people still have significant savings and even more since lockdown. There is €180 billion on deposit in Irish banks. Many businesses are thriving due to the current crisis and many others are largely unaffected. Hundreds of thousands of people are still in jobs, with savings, still really wanting a home of their own. That's still the competition when you want to buy a house which means I don't see any major drops. It's not like the last recession which was primarily the result of property speculation and reckless lending. It's the complete opposite this time, especially on the latter. You can also combine all of the above with increased consumer sentiment as people get more confident about getting out and about and spending their money, helping to get the economy back up on its feet for more businesses. Developments on the Covid treatment and vaccine front will (hopefully) accelerate all this too.
JJJackal wrote: » Of note for your 100,000 car (presumably you would be borrowing in this scenario), you will only likely be able to get a loan for 5 years (I cant imagine a bank giving you a 100,000 loan for a car). If at end you wanted to own it fully, your repayments would be over 2,000 a month and the cost of financing the loan ie interest would be north of 23,000... Interestingly your car will only be worth, if your are lucky after 5 years, 30,000 to 40,000 - likely 15% depreciation at minimum per year - limited number of people who want to buy a 5 year old car for the same price as a new one. Your house outside Dublin will have increased a little in value at best in current climate. You will have spent an extra 2 hours a day commuting plus fuel plus parking. If you work 40 weeks a year ie 200 weeks or 1000 days over 5 years you will have spent an extra 2000 hours in your car! Plus in 5 years your car has alot of miles on it and you could need to consider changing - lucky you have 200k left to buy another car!
Mike3287 wrote: » 100k car is a bit ott, he makes a valid point though If the same house is €200,000 less 70km away he could buy a new 400km range 35k electric car like a VW ID3 and spend €12 a week in electricity to do that commute He will never get those hours back though, but maybe quality hours over quantity hours in his house in the country makes up for it, dont know
