PropQueries wrote: » As are many civil servants: "Simon Coveney has said there could be as many people in his department on the Working Family Payment as in the whole of the Defence Forces." Link to article in Irish Independent here: https://www.independent.ie/irish-news/politics/coveney-many-civil-servants-in-my-department-are-on-family-income-top-up-like-members-of-defence-forces-39601376.html The question is how long the state can continue borrowing money to keep topping up wages and paying relatively high salaries to many of our civil and public sector workers. The state appears to have decided that housing costs should be alligned to the wages that are paid to the 229,957 people who work for multinationals in Ireland (most I would assume are already home owners). They then borrow money year in, year out to try provide similar salaries to the civil and public sector workers. It's an insane strategy that will (not probably) end in tears for the housing market.
Bubbaclaus wrote: » The Journal have interpreted the data the other way to the Irish Times: Irish house prices rise again following slight decline during Covid-19 lockdown https://jrnl.ie/5232967
Bass Reeves wrote: » I would not call the house price index a 0.6%fall over 12 months a decrease in prices just as I would not call 0.1-2% rise in the last 3 months a rise in prices. This would be in the margin of error for house type and condition sales. My reading is the market is stable at present
Balluba wrote: » There is a marked contrast though between the 0.6% fall over the last 12 months when compared with the 1.9% increase for the previous 12 months.
Bass Reeves wrote: » 2.5%swing in 24 months and a pandemic lockdown in between. Prices stable or tending to very marginally grow over last 3 months since lockdown. Grow up.
Graham wrote: » aren't the Daft reports generally a quarterly thing?
PropQueries wrote: » That's true. A couple, both on the minimum wage in Ireland could very easily afford the monthly repayments on a 25 year mortgage for many standard three-bed semis outside the major cities. Assuming they could get mortgage approval.
Graham wrote: » Sounds like they've gone back to quarterly
Timing belt wrote: » House prices are going to be affected by a recession as people put of decisions as they are unsure about future outcomes. All that the reports in the media point to is that there is sufficient demand in Ireland to keep prices at the level they are at (give 5% either way). Unless there is financial crash or an increase in supply this will not change.
combat14 wrote: » house prices are almost back to crazy celtic tiger boom levels (only 18% off) and rents here are now insane..FF/FG will have to tackle this issue at some stage or the country faces a potential youth brain drain post covid 19 or else a massive renewed vote for SF next time out
combat14 wrote: » house prices are almost back to crazy celtic tiger boom levels (only 18% off) and rents here are now insane.. FF/FG will have to tackle this issue at some stage or the country faces a potential youth brain drain post covid 19 or else a massive renewed vote for SF next time out
Graham wrote: » or house prices are still almost 20% lower than they were about 15 years ago
Bubbaclaus wrote: » Actually, property prices rose slightly between July and August. It is the YoY figure that fell, but prices actually creeped upwards slightly in both Dublin and in the country as a whole for August compared to the month prior. Always easy to package the data in a way that suits an agenda.
Smouse156 wrote: » Falling house prices is DEFINITELY not the Irish Times agenda
PropQueries wrote: » It could also spell trouble for those residential property investors who took out interest-only mortgages during the Celtic Tiger years.
