Hubertj wrote: » So if the banks are foooked again where do we put our savings? Property is doomed, pensions are doomed, stocks are doomed?
Augeo wrote: » Who said pensions and stocks are doomed?
brisan wrote: » You only asked for a 190k house You never specified where
PropQueries wrote: » In relation to Irish pensions:...........
Augeo wrote: » "...State pension commitments................ Public service pensions .............Together, this €345.5 billion of liabilities is unfunded and will be met on a pay-as-you-go basis from Government tax revenue and the Social Insurance Fund." But from a point of view of where to put your money a PRSA etc is not doomed.
rks wrote: » https://www.msn.com/en-ie/money/other/first-annual-fall-in-house-prices-for-seven-years-recorded-in-july/ar-BB196tjf?li=BBr5KbJ
mariaalice wrote: » If you looked at boards after the downturn say circa 2010, its the exact same thing, Ireland is doomed, the tec and multinational are going to leave, interest rates are going to go up, invest in gold, eventually, you will be able to buy a red brick in Ranelagh or Blackrock for less than 100k, the banks are going to fail. Then there were the epic ones, the EU is going to collapse, the western world is so indebted countries are going to fail, the west is owned by china anyway. Have I forgotten anything?
PropQueries wrote: » Blackstone has predicted that interest rates may rise to more normal levels in the next few years. “I think this could be a lost decade in terms of equity appreciation, he said, referring to a term commonly used to describe a period in the 1990s when Japan experienced economic stagnation." “He explained that current low interest rates may not dip further and may instead rise to more normal levels in the coming years. Higher interest rates, in many instances, tend to negatively affect corporate earnings and stock prices. High borrowing costs will eat into company profits and hurt share prices.” You can read the article on CNBC here: https://www.cnbc.com/2020/09/16/blackstone-warns-of-lost-decade-with-anemic-stock-market-returns.html
The Federal Reserve is unlikely to take any new policy actions at its final meeting before the presidential election, but it is expected to indicate it will keep its dovish policy in place for years to come while the economy and labor market heal.
Having already slashed interest rates to near zero and added roughly $3 trillion to the central bank's balance sheet, Chair Jerome Powell is expected to lean more heavily on forward guidance, telling businesses and investors more clearly what they can expect in the quarters and years ahead.
Assetbacked wrote: » Important to note that the level of transactions for the lockdown/covid restrictions period (ie the last 6 months) is way down; 40.7% drop in July 2020 compared to July 2019 and June had 12.9% less registered than July.
schmittel wrote: » Gold
neutral guy wrote: » Holders of gold will be taxed in future I think. The best investment is kids education,own health and quality of life,own property. The matter is not how much you pay for property the matter is when you sell. I dont care sell 300 K property during the recession for half price if I will buy another property for same half price. If you sell your property on top price for half price and buy another property for higher price then yes it is bad But when you sell your property for half price and buy another for half price there is no difference. Some says there will be no supply during the recession I have no problem sell my parents house when they will pass away for half price during the recession because I will buy something different for half price also
schmittel wrote: » Yes I think taxing gold is a possibility in the future, but the price will have risen substantially I suspect for taxes to be applied. Much of my gold exposure is in mining shares, who should benefit from that price rise. Completely agree you on the relative values on any property you buy and sell, a point I often think is completely lost on a lot of the posters here and a lot of the active participants in the property market.
Hubertj wrote: » What income does gold generate to be taxed ? I presume it is subject or cgt upon sale for profit etc but is unlike property that generates rent which is subject to income tax and cgt (if sold for profit).
neutral guy wrote: » Simply go and buy investment gold without the passport and lets see how much you will get ! When you buy gold the Revenue will know how much you have it ant then will calculate how much tax you have to pay ! You will be taxed by value of the gold at average price. Well,again,if gold holders will be taxed.
fliball123 wrote: » I dont think prices have dropped yet the CSO and price property register stats have proven this
schmittel wrote: » Physical gold does not generate any income obviously, mining shares pay dividends as income. Both subject to CGT. I think the biggest risk of a future tax impact is from the US govt taxing the value of physical gold holdings - that will hurt the gold price, but price will have risen a lot if that were to happen.
sheepskin1234 wrote: » As long as interest rates are low, there's no downward pressure on prices.
Mic 1972 wrote: » D7 isn't dropping, i check it daily in the last 2-3 week some very expensive apartments have been added. Asking prices are through the roof in the area
schmittel wrote: » Don't forget about the lads clowns who say prices are technically not dropping, they were just overpriced to begin with.
The_Conductor wrote: » The banks aren't fooked' as you so eloquently put it. If anything- they are awash in liquidity- and while they'd love to lend it at prime rates to anyone they'd like to- thankfully, for both their sake and the sake of the taxpayer- they are restrained by regulations this time round- whereas in 2008-2009 (and in the decade preceding the last crash)- Ireland was renowned internationally for being the wild wild west with 'light touch' regulation of the sector. It is hard to find somewhere to put your money- and contrary to the suggestion to buy gold, I'd suggest that simply sitting on your money for at least the medium term- might be the better course of action- as when the dust settles, liquidity may be a valuable commodity. Returns are pitiful no matter where you look- however, inflation is also constrained (despite unprecedented liquidity creation)- and in the presence of constrained demand, there is no particular reason that inflation should feature as an issue.I'd suggest park your money somewhere where access to it has minimal constraints- and even if the return is pretty much nil, suck it up, and revisit what you'd like to do in 2-3 years time- but until then keep your assets as liquid as possible.
neutral guy wrote: » Holders of gold will be taxed in future I think. But when you sell your property for half price and buy another for half price there is no difference. Some says there will be no supply during the recession I have no problem sell my parents house when they will pass away for half price during the recession because I will buy something different for half price also
neutral guy wrote: » . At the moment government know about huge people savings in banks and I pretty sure government lifting taxes,bringing new and cutting expenses to social welfare will force people use them savings ! I am absolutely sure that this gona happen ! Taxation on deposits will coming shortly.
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