neutral guy wrote: » My resume for 2020 property market : The Covid finally put things on place were they has to be Who did not sell property for rent will have take loses Those who was saving for mortgage free life finally will be awarded The 2021 is the cash buyers time The 2020 was the last chance for property owners get rid of the property without loses. I was saving for mortgage free life last 9 years I was wake up at 5 on morning and was going to bed at 23.00 I do not remember when I last time bought shoes And I heard to many opinions to believe them
Bass Reeves wrote: » Dream on In a downturn you only take a loss if you have to sell. Property investors are long term investors most that are now involved survived the last crash. If they were not most have bought cheap investment properties pre 2016. We be here this time next year and we will have lads claiming 2022 will be the property bust year
Bass Reeves wrote: » Dream on
neutral guy wrote: » I was amazed how China made it progress Work hard people and you will have mortgage free life ! Better work hard saving than work hard to paying !
Hubertj wrote: » Out of interest, if people in here are given option of wfh full time who would leave where they currently live? Personably I wouldn’t at my stage, kids in school and any family I have left are in Dublin as are all my friends. My wife’s job means she has to be in her pace of work every day.
neutral guy wrote: » I do not remember when I last time bought shoes
Timing belt wrote: » China’s growth is due to cheap labour and a massively undervalued currency that has been manipulated to give unfair advantage. At the end of the month the Banks will publish Q3 results and we will get the first view on how bad the housing market looks. My bet is that the headline on the banks will be ‘not as bad as expected but uncertainty still a major risk’
neutral guy wrote: » I am not dream on same as many of us.We have enough money to mortgage free life and this is our time.If you are not one of us this is your problem.
jill_valentine wrote: » If I was offered full time WFH I could buy a house when I currently can't. So I'd be gone like a shot, yes. The opportunity it would present me to own my own home would override absolutely any other consideration by far. I love living in Dublin, but the prospect of owning my own space leaves it in the dust very easily and pretty much everyone I know would snap your hand off for that deal. Generation Rent can hear the clock ticking on their working life and mortgage term eligibility.
neutral guy wrote: » Go and do some work for better future of you family,will ya ?
optogirl wrote: » Ah get yourself some nice new shoes and quit braying about how prudent you are. You own a house. Well done.
jill_valentine wrote: » If I was offered full time WFH I could buy a house when I currently can't. So I'd be gone like a shot, yes. The opportunity it would present me to own my own home would override absolutely any other consideration by far. I love living in Dublin, but the prospect of owning my own space leaves it in the dust very easily and pretty much everyone I know would snap your hand off for that deal. Even if I could get a two day WFH, I would happily buy beyond the commuter belt and do the travelling. Generation Rent can hear the clock ticking on their working life and mortgage term eligibility.
schmittel wrote: » Exactly, what a lot of posters are missing when Hubert says, “I wouldn’t leave at my stage”, is that his stage includes owning a house. It’s the ones that haven’t got to Hubert’s stage who are going to leave.
Hubertj wrote: » So, are you from Dublin? If so would you want to live within an hour? Or would you go wherever? Just curious at to what people’s priorities would be.
Vieira82 wrote: » Very true... but that's because it cannot continue to go higher and higher, the higher it will get the less people will be able to afford. If the prices keep going up by means of a virtual inflation of market monopolization then the average joe will end up living on the streets. Crashes are there to self correct these unregulated growths. Now if you are not seeing property prices going down while literally the whole country is slowly shutting down again, and people having less and less money then it points out to the property market not being in the hands of supply and demand anymore but in the hands of big companies artificially keeping the price high to keep making profits out of it while the average joe struggles to keep the mortgage payments and closes his small business.. To make it simpler. Imagine ten people passing a ball between themselves. Everytime there's a pass the person that gets it gets one euro. Those 10 guys are vulture funds and the ball is the bulk of properties in Dublin, but could be London or SanFran or Lisbon. And that euro signifies the profit each of them makes from selling a property to the other. Time will show if this is true or not.
Timing belt wrote: » Keep insulting everyone that does not agree with you It’s a good way to show you can not argue or back up any of your claims.
Smouse156 wrote: » Very true, say what you like about Dublin having amenities/services etc, nobody wants to be a rent slave
TheSheriff wrote: » I wouldn't be so confident on this. Yes, some will leave but we have no way of knowing how many. We are not from Dublin, no real families ties to here, have had a WFH option for years now. No intention of leaving. We enjoy living in Dublin. Most of my friends are looking to buy somewhere, Covid has accelerated this massively with weddings cancelled. I was expecting the conversation to be all about leaving Dublin, but its become about getting a house in the surburbs/commuter belt rather than an apartment in Ranleagh/Rathmines which was the focus before. I do think these super trendy areas (Ranleagh/Rathmines etc.) will suffer the most, and its where we will see the largest falls. But I see the likes of Dun Laoighre/Bray/North Wicklow becoming even more in demand. Added space and commutable to the city for the days thats needed.
PropQueries wrote: » Interesting article in the Irish Independent today: 'Budget deficits mean the cost of Covid will match bank bailouts'. "The final bill to the Irish Exchequer from the Covid crisis is set to exceed the €42bn cost of bailing out the banks a decade ago... Unlike the bank crisis that spawned years of austerity, there is also no sign the Covid crisis will force hard economic decisions on Paschal Donohoe and Michael McGrath." Let's put this in perspective. This additional borrowings of €42,000,000,000 would build 168,000 social houses at an average cost of €250,000 each. There were less than 30,000 households throughout Co. Dublin on the housing waiting list, the vast majority renting from private landlords. Is this the magic money tree many complain about when analysing SF budget proposals? I'm not an avid SF supporter, but do many people in this country truly believe this level of borrowing isn't come to come back and bite us very hard and very soon even if interest rates are and remain at 0% indefinitely? Income taxes/PRSI are probably as high as they can ever go. So, what/who is left to tax? Irish Independent article link here: https://www.independent.ie/opinion/comment/budget-deficits-mean-the-cost-of-covid-will-match-bank-bailouts-39607365.html
HotDudeLife wrote: » Someone will have to pay and i'll have what SF are smoking, absolute pie in the sky stuff from them, truly delusional and won't stop until Ireland is a communist wasteland, anyway, i digress. It will be interesting to see if the property market follows the same trajectory as the property crash in 2008/09 relating to the bank bailouts, it took 2-3 years for the market to bottom out and if i was a gambling man i would predict the same this time around, we will see the beginning of this in early 2021 as more individuals are impacted by this recession and banks start tightening or becoming more selective in their lending add to this the eventual withdrawl of government covid support and it will all snowball into a large downturn possibly bottoming out in 2023 sometime. Everywhere i go and talk to individuals (bar those in my industry and big tech/medical), it is utterly dire straits out there, small talk is akin to that of which occurred in 2008. All to well this becomes a self fulfilling prophecy, give it time, this will be a bumpy ride.
