awec wrote: » Apparently there was some huge event in the UK the past few years which is going to have massive economic and social consequences going forward for them, did you hear anything about that? Anyway, there is no point comparing the UK to us, though I'm sure you're aware of this. Their payout scheme was completely different, they were paying out 80% of people's wages up to a limit that was twice as high as anyone on our top rate of PUP (we were paying out less than minimum wage).
fliball123 wrote: » I am sure I seen a documentary advertised recently about the 400Billion the UK have gone in debt for Covid and who will pay .. Anyway just checking it and it looks to be true just 2 of many links showing it.(below) Kind of puts our 30Billion being borrowed for covid in the happenny place they have borrowed almost twice what we will owe including what we borrowed for 08 Crash and Covid. So any comparison with the UK is not relevant, Brexit has and will continue to have a major impact for them over the next few years.https://www.reuters.com/article/uk-health-coronavirus-britain-spending-idUSKBN2801HOhttps://www.aljazeera.com/economy/2020/11/25/uk-unemployment-forecast-to-rise-gdp-to-fall
awec wrote: » You can't just compare raw figures either though, since both their population and economy is larger than ours. It's more nuanced. My point was that the UK is on a totally different path now to the rest of Europe and pointing at them as being a bellweather for what Ireland is about to face is IMO disingenuous. Covid or no covid they were in for some pretty serious economic upheaval over the next few years as they have to come to terms with their new reality. Rishi Sunak saying the Brits need to have a reckoning does not mean doom is impending for us or the EU.
fliball123 wrote: » I am sure I seen a documentary advertised recently about the 400Billion the UK have gone in debt for Covid and who will pay .. Anyway just checking it and it looks to be true just 2 of many links showing it.(below) Kind of puts our 30Billion being borrowed for covid in the happenny place they have borrowed almost twice what we will owe including what we borrowed for 08 Crash and Covid. So any comparison with the UK is not relevant, Brexit has and will continue to have a major impact for them over the next few years.https://www.reuters.com/article/uk-health-coronavirus-britain-spending-idUSKBN2801HOhttps://www.aljazeera.com/economy/2020/11/25/uk-unemployment-forecast-to-rise-gdp-to-fall Also Veradkar has come out saying once again as recently as this weekend that they are projecting that we will be able to grow the economy enough that we wont need cuts or higher taxes. I am sure for the remainder of this government (how ever long that will be) I cant see there being higher taxes when public servants are getting pay rises (including the government themselves) as the optics of this would be terrible and would completely p1ss off the majority of FG and FF voting blocks. The next budget IMO will be a directional arrow as to how the government plan to pay the bill and that will all depend on the speed of a recovery (if there is one)
Browney7 wrote: » Don't follow your point on the UK? Their population is 10 times ours (roughly) so if our debt is going up by 30bn is it not fair to adjust their 400bn to 40bn when drawing inferences?
decreds wrote: » Huge brain drain on the way.
PommieBast wrote: » Certainly post-Covid I will be moving to London. Problem with Dublin is that the quality of housing does not reflect the asking prices.
fliball123 wrote: » My point is the two countries cannot be compared (as props has been trying to tell us to look at the situation the UK are in as a kind of warning) They are on their own they have to balance the books as they no longer have the EU to back them up any longer, we do if the sh1t rains from the skies like it did back in 08 we have already got a proven mechanism in the ECB who will allow us to borrow if we need to. So I just think we cant compare the two countries at the moment as you pointed out their population , debt and access to European markets is completely different to ours.
Cyrus wrote: » curious to understand if you think that situation is different in london? in my experience its worse, with regard to the quality / value proposition.
DataDude wrote: » Offers already at €1.055m after a couple of days. Yikes!
Cyrus wrote: » at least it supports my assertion that it would have been worth north of 1.25m when extended and renovated whether it will be worth the 1.5m itll now cost im not as sure.
Nika Bolokov wrote: » I think theres going to be a lot of people in a few months feeling very sorry for themselves when they realise they have grossly overpaid for houses they dont really like at all. The one in Raheny posted a little while ago could cost 100k to 110k to renovate if a modern heating system and insulation is on your list, place would need to be gutted. 15k on a new kitchen, 6k on a new bathroom, new windows, new heating, insulation, labour to rip out old fittings, replastering, rewiring in parts im sure at least and top to bottom repainting, flooring etc. Not much change out of 550k if you get it up to modern spec at that price with various fees etc. Never mind if you want to put on an extension.
decreds wrote: » People purchasing at the moment and within the past few years are being taken to the cleaners.
decreds wrote: » 100%, nail on the head. I'm in a watsapp group with friends i grew up with in Santry and links to myhome/daft and PPR are comical. Without fail property is advertised as Glasnevin/Santry and sold when it's actually Ballymun or Finglas. We see the same in other areas e.g Edenmore/Raheny, Blanch/Castleknock, etc. Most of the property being exchange now and within the past few years was purchased by the sellers for fractions of what they are getting now. People purchasing at the moment and within the past few years are being taken to the cleaners.
MattS1 wrote: » I wonder how many years prices can keep going up? Surely there has to be a limit as wages aren't going up even a quarter as fast.
Deleted User wrote: » The banks in Ireland reduced time for using mortgages from 12 months to 6 months Other words if person who took the mortgage did not bought house in 6 months he will have start approval process from zero All this says that banks supporting high prices and want give higher mortgages as much as possible Other words property markets are not that strong if need that sort of intervention and property prices possibly reached the top And as usual government does not care about it because as they usually says Market will adjust him self ( how this worked before we all know )
Padre_Pio wrote: » Are house prices increasing though? Anyone with skin in the game says yes, but the CSO says no, based on the property price register. We're seeing some stupid behaviour the last few months, but I doubt its widespread.
Padre_Pio wrote: » Are house prices increasing though?Anyone with skin in the game says yes, but the CSO says no, based on the property price register. We're seeing some stupid behaviour the last few months, but I doubt its widespread.
fago wrote: » What I found interesting in the 2020 report is that 2nd hand places were basically flat (.2%), and the growth was being held up by new houses (2%).https://www.cso.ie/en/releasesandpublications/ep/p-rppi/residentialpropertypriceindexdecember2020/newandexistingdwellings/ So, it would seem given the general commentary "there's very little supply, it's all mad" for the last Q of 2020 didn't get reflected in the PPR. On the new homes, some possibilities: - either the various government schemes have kept the prices artificially up and the lending limits are having less of an impact in new homes. - people are more interested in higher energy rating/new home and are willing to pay a premium. And renovation costs are horrendous. - new homes tend to be focused on the starter market at lower price point, and any increases in savings have a more direct impact in terms of a percentage increase
Marius34 wrote: » What you think yourself to which direction currently price are moving?
Padre_Pio wrote: » Going up, after going down for the last while. I'm not saying everything is rosey, but it's not the boom again. I think there's a lot of people who are dead set on buying, lockdown or no, and are prepared to pay a premium just to get a deal done. We're seeing these exceptions and applying them to the market as a whole
Marius34 wrote: » Yes, I think same that it's not a boom again this time.It's difficult to say currently if its good or bad time to buy. But I understand why people are frustrated, and not willing to wait for end of lockdown. We definitely can't tell if there will be any better situation anytime soon.
