HotDudeLife wrote: » It will likely just delay the inevitable by a few months. I've through 4 recessions and i expect this upcoming recession to surpass them all (including 2008), but i think the recovery period will be shorter given the tech available, WFH etc. Globally the pain will be felt all round but could see the global economy bouncing back to a bit after 2 years, however, we won't see anything like the celtic tiger or 2014-2019 for quite some time. My prediction - Huge recession between 2021-2023, property prices to tank 20-30% but a quicker recovery than 2008.
MacronvFrugals wrote: » Economy wise how do you guys see a second lockdown affecting things?
Hubertj wrote: » from my experience dealing with PS work is paid in stages. I don't have exeprince with construction project but with IT infrastructure. Main issues - procurement process always messy for new work, requirements regularly change during build adding to CRs and costs. These processes are built into contracts. From readingh about childrens hospital, they didnt have spec finalised when build started so there were a lot of changes. Added to that, public servants arent accountable and its not their money so they dont care. "budget" is an alien temr to many of them
PropQueries wrote: » I wonder how the main contractor is paid. If they paid in stages, it would solve all cost overrun problems. Only pay them at the end of each stage. If not completed on time or on budget, they get no money, lose the contract and it's awarded to a list of three back-up contractors? Would stop all the cost over-run shenanigans. And, as they're big government contracts that every big contractor needs to stay in business, the government can set out how the deal is done and not the other way round.
MacronvFrugals wrote: » The Children's hospital was the last straw, private developers arent efficient in any way. The contractors use apps to track work, thats how the bill is calculated, the lads working take the same photo from 5 different angles submit and go home early. Then when the bill is due its gigantic. Watch the mental health hospital in Portrane, minister has said this will NOT go over budget, my friends working for one of the main contractors and has said it will go millions over budget when all is done. The MO is undercut to win contract and then who cares what the bill is - efficiency at its best
Deleted User wrote: » We could manage our housing problem with compulsory purchase orders of land.
HotDudeLife wrote: » Spain is a failed society in fairness but thinking about it now so are the majority of countries, the US used to be a beacon of hope but wouldn't live there now if you paid me. OZ is probably the only sensible nation left when it comes to the economy, immigration etc.
MacronvFrugals wrote: » Housing is a pipe dream for to many people in this country. I'v lived in Finland and Norway and its not anymore near like this, the reason is most likely these countries arent afraid to take on interest groups. Being real we have kids in hotels who are missing key development indicators. Relying on the market solely was a disastrous move, its now time for the state to take an active role in building.
cubatahavana wrote: » For comparison, in spain, with 46 million people, they spend the same in income support. 5 billion, but that’s from a pool of 460 billion
The Belly wrote: » They will have no choice and such a shame they didn't do it already
cubatahavana wrote: » And another 4 billion in housing
cubatahavana wrote: » Nearly 4 billion in income support
PropQueries wrote: » True about the celtic tiger years. But the corporation tax bonanza hasn't been squandered on the 'can't work won't work brigade'. Here's the breakdown of the welfare spend. It may surprise you: https://whereyourmoneygoes.gov.ie/en/socialprotection/2019/
PropQueries wrote: » Article in Irish Times today: State bodies playing role in squeezing Dublin housing market. "As noted by Goodbody chief economist Dermot O’Leary, the non-household sector (private companies, charitable organisations, and State institutions) accounted for 41 per cent of new home purchases in July and for 39 per cent over the past 12 months." "This included 48 per cent of new homes in Dublin over the past 12 months" Link to Irish Times article here: Wouldn't it make sense for the Government to just buy Cairn Homes and Glenveagh at this stage. Their share prices are on the floor. The state is basically their biggest customer at this stage.
Mango Joe wrote: » Was just looking at houses in Limerick City and Country for the first time in 10 years. I am absolutely staggered at how few options are available, in such poor locations, that are in many cases small, mouldy, claustrophobic and in absolute rag order with insanely high and illogical prices alongside them. It's absolutely shocking and depressing in equal measure.
PropQueries wrote: » Article in Irish Times today: State bodies playing role in squeezing Dublin housing market. "As noted by Goodbody chief economist Dermot O’Leary, the non-household sector (private companies, charitable organisations, and State institutions) accounted for 41 per cent of new home purchases in July and for 39 per cent over the past 12 months." "This included 48 per cent of new homes in Dublin over the past 12 months" Link to Irish Times article here: https://www.irishtimes.com/business/commercial-property/state-bodies-playing-role-in-squeezing-dublin-housing-market-1.4356642 Wouldn't it make sense for the Government to just buy Cairn Homes and Glenveagh at this stage. Their share prices are on the floor. The state is basically their biggest customer at this stage.
enricoh wrote: » Those figures are bananas propquerys. When the Celtic tiger calved at least we got good infrastructure out of it. We've had an absolute bonanza with corporation tax the last 5 years or more n it was squandered on the can't work won't work brigade.
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