awec wrote: » Everyone will go back to the old ways. Not even the most pessimistic crank believes this is going to be around forever. Within a few years the covid aspect of this will all be yesterday’s news.
Marius34 wrote: » Actually financially for working people, it's probably better in Ireland. Net average monthly salary (adjusted for living costs in Purchasing power parity): But for Quality of Life, Spain has better rating:
HotDudeLife wrote: » Source?
Bubbaclaus wrote: » They must not have asked the 20% that are unemployed across the south of Spain (and that was pre covid, I'd shudder to think what it is now) when they did that quality of life survey.
Graham wrote: » I'm not convinced you quite grasp what examinership is. It's not government support
[Deleted User] wrote: » We could manage our housing problem with compulsory purchase orders of land.
awec wrote: » So to clarify, you think people will no longer go out, and we're not getting any tourists back, ever. You reckon we're the ones not thinking this through? Covid is going to wreak havoc for a year or two, but please lets maintain some grip on reality before we descend into the rabid hysteria. As soon as the restrictions are lifted (and they WILL be lifted, it is genuine insanity to think otherwise) the pubs will be 5 deep at the bar again. If they lifted the restrictions tomorrow, the pubs would be 5 deep tomorrow night. That is precisely why they have been so slow to open pubs. As soon as people are told they can fly again without quarantine (and they WILL be told this), they will fly. The idea that we are going to lose all our rich tourists forever is pure misery merchant stuff.
Smouse156 wrote: » Come on? Farmers need 100,000 times their income when they sell land! It’s only fair! Of course a farmer making 20k a year should get 200 million for a few fields
Darc19 wrote: Most of the jobs that are affected are in hospitality / tourism where part-time and Lower pay that contributes little tax is the norm.
Darc19 wrote: Remember that the biggest problem in the last recession was a massive drop in tax revenues. Combined with massive personal debt. That is not happening this time.
Assetbacked wrote: » We were nearing the end of a hyper growth cycle anyway which covid has just accelerated. People might want to go back to old ways but they won't have the cahs to be able to. While we hear about the jobs lost being low paid jobs, this (1) isn't all that is affected and (2) will still have significant negative effects to the economy. On (1) we know that even the tech companies have cut jobs and where they haven't, they have stopped hiring. With the big law firms, all have frozen or cut salaries, partner payouts and even staff bonuses. I have some friends in these law firms who have told me this. On (2), if students cant get their few hours in retail or in a bar, there goes rent and living expenses so the bank of mommy and daddy needs to step in, for those that can afford to. All late bars and nightclubs are closed in Ireland for at least another 6 months, that's the whole industry gone as we know it. For "wet" pubs in Dublin, it's all well and good giving restart grants for stock and wages while paying staff when they're closed but without the booming food trade during the day with tourists and office workers, most will go under without State subsidies which won't last indefinitely once they reopen. Additionally, even if low paid jobs aren't lost, they could be on less hours which means less cash to spend on rents and in the local economy. I suppose a big benefit for this recession is that individual borrowing isn't high right now compared to the Celtic Tiger years. This will enable a quicker bounce back. I think companies and investors are the ones leveraged who will suffer horribly. For example, leveraged commercial property investors.
schmittel wrote: » Two 1950s 3 bed bungalows in SCD, both in need of modernisation.19 Redesdale Road - sold November 2018 for €770k21 Redesdale Road - sold September 2020 for €610k No 19 has had some recent work eg new windows, and some internal insulation. No 21 has an extra 24 sqm, presumably thanks to the attic conversion which makes it potentially a 4/5 bed. Those are the main differences I can see - anybody else see something I am missing that accounts for the 20% price drop since 2018?
no.8 wrote: Im hopeful we don't have the same situation as the last recession but tax revenue will be a serious issue this time around too
pearcider wrote: While that may be true about individual borrowing our government debt is now enormous. We are all on the hook for that monstrosity including the prudent savers among us. We were already paying 10% of our tax take on interest alone and that’s at record low interest rates and pre Covid.
Hubertj wrote: » Insane prices. My friends mum lives on that road. I’d say both are executor sales. People on that road were old 20 years ago! Is that a big telescope in a pic of 21?
Assetbacked wrote: » ....On (1) we know that even the tech companies have cut jobs and where they haven't, they have stopped hiring. With the big law firms, all have frozen or cut salaries, partner payouts and even staff bonuses. I have some friends in these law firms who have told me this....
schmittel wrote: » It sort of looks like it, but it is one hell of of a big telescope, though I guess it would be valley of the squinting windows area! I also wondered if it was some sort of morbid medical device.
neutral guy wrote: » I dont worry about growing debt of Ireland untill country able pay her debt and investors continue lending. In last years money are very cheap on markets if not free what is good for refinance the debt Some money are even with negative rate But money will be more expensive once global recession will be started If country will be in trouble pay her debt VAT will be rised to 30 per cent / income taxes to heaven high/etc/etc/etc How much people has savings in Ireland ?240 billions ? What is debt of Ireand ? So there is plenty place to rise taxes,country has plenty money.
Wanderer78 wrote: » again, rising public debt has caused far less problems than rising private debt, as we ve recently experienced, yet again
coolshannagh28 wrote: » Wrong , our public debt in the form of rising PS wages and costs caused the last recession , private debt may have triggered it but the public debt left over from that will cripple us in the next depression.
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