schmittel wrote: » If there is one thing we learnt from the last crash it’s that people really do care if their house drops in value by 50%. No matter how much people might say now it doesn’t matter, it’s my home it’s not an investment, if prices drop by 50% we will hear all about the hell of living with negative equity again.
Mic 1972 wrote: » on the other hand the pandemic has collapsed every country the same, so why would anyone leave London to go to another collapsed country?
PropQueries wrote: » It's a talking point, but that's about it in the vast majority of cases. If a regular person's house falls by 50%, do they really care if they still have their job?
PropQueries wrote: » Basically Brexit hasn't collapsed or won't collapse the UK economy like some in the media were and continue to appear to be portraying IMO
Graham wrote: » I don't understand the point you're trying to make PQ. On one hand you're suggesting Dublin is facing an exodus like London that will see Irish property prices/demand severely impacted. On the other hand you're hinting the prospects are so rosey for London than Johnny Ronan is piling back in but the same can't/won't apply to Dublin. It's like you only ever consider anything that might impact Irish property negatively and ignore anything else.
HansKroenke wrote: » I think we'll see a lot of panic from home owners who fear their house prices will drop 20/30% and may look to sell up in order to avoid what they think will be chaos with a SF led government. However, this panic-induced supply increase will consequently lead to prices going lower more than SF in power!
DubCount wrote: » With the unemployment and recession a SF government would bring - you're probably right :rolleyes:
Mic 1972 wrote: » How is this proof that foreigners aren't leaving London because of Brexit exactly?
PropQueries wrote: » Doubtful. Even Johnny Ronan is looking to get back into the property game in London. "Developer Johnny Ronan has told the Business Post that he is pursuing a return to the London property market. He expects to have his first project in there next year. The paper writes that Ronan’s company has “ambitions on the scale of Battersea” for the city. Treasury Holdings, led by Ronan and Richard Barrett, was the latest developer to be undone by plans for the former power station when the financial crash hit in 2008." Link to Irish Times article today here: https://www.irishtimes.com/business/developer-johnny-ronan-plans-new-assault-on-london-property-market-1.4503562
awec wrote: » It's just a house that ticks all the boxes for a buyer. It's not literally a "dream house".
Mic 1972 wrote: » I would say foreigners left London because of Brexit, not because of the pandemic.
Pelezico wrote: » Why does anyone quote David McWilliams. He is good for a oneliner but little else. A sort of pop economist.
PropQueries wrote: » Apparently c. 700,000 people have left London since the pandemic started. Any ideas on how many have left Dublin as the Irish media seem to be very quite on that front here? It's actually a very big question given all the analysis on WFH, future of the city etc. IMO Link to article in Irish Times on 700,000 leaving London here: https://www.irishtimes.com/news/world/uk/covid-19-london-s-population-fell-by-700-000-amid-exodus-of-foreign-born-residents-from-uk-1.4458762
Timing belt wrote: » Don’t forget people emigrating that will free up a lot of property
Pelezico wrote: » What in earth is a dream house? I have never managed to understand that one.
PropQueries wrote: » Back in 2014, David McWilliams asked who will the funds sell the assets they bought (“for 25 cent in the euro.”) to when they decide to exit. His opinion was: “They will sell to Irish investors. Where will the Irish get the cash? Why they’ll borrow it from Irish banks and we will be back to where we started with Irish banks overleveraged to expensive Irish property.” He got it wrong. They’re not selling to Irish investors. It appears they’re selling/leasing them back to the Irish state. The very same state they bought them off of for c. 25c in the euro only a few years ago. At least NAMA may make a “profit” at least. I wonder what history will make of that 2012 to 2016 period? Link to his article here: http://www.davidmcwilliams.ie/when-the-vulture-funds-move-on-our-broken-banks-will-be-right-back-where-they-started/
awec wrote: » Yea? What's your source for this?
schmittel wrote: » I'm very happy to make the prediction that houses will be cheaper under a SF led government, if they're successful at the next election.
thefridge2006 wrote: » This also adds to the whole problem of inflated house prices....I'm hearing of huge amounts of people getting AIP and set on their merry little way to bid bid and bid on their "forever home"......then when it comes to drawdown they run into a road block and are forced to pull out, leaving a house that has been bid up up and up and the second "lucky" party paying through the nose for it. Its a total mess out there at present and nobody seems to want to fix it
Timing belt wrote: » If SF had solutions why are they not making a difference at local authority level. Why are they adding to the problem by objecting to anything that a different political party puts forward...at the end of the day all the political parties are playing games to try and get votes and anyone that thinks that things will change overnight at a GE is deluded. If SF get elected housing will not be their no1 priority...it’s no1 priority will to get rid of special criminal courts followed by a United Ireland and then re-writing the tax laws to make the rich pay. (Just for clarity that is anyone above the average industrial wage)....maybe then they will look at housing which takes time to resolve if it is a sustainable solution.
cnocbui wrote: » More simplistic drivel. Banks are barely lending and the number of hoops people are having to jump through to get loans and mortgages are considerable, so your supposition is wrong. There is no reckless and profligate lending going on.
Marius34 wrote: » All countries has it's own problems, and opposition has their magic medicine to improve quality of life, and affordability. Ireland politics is not unique in this. You may look for the differences, but result will be same. Capitals and other premium locations will have property affordability problem. SF may come, may look for different solutions, affordability problem will stay.
thefridge2006 wrote: It's farcical. I suspect someone or some group are being well looked after and its not the general public. its so bad that it doesn't make sense on any level you look at it from
Marius34 wrote: All countries has it's own problems, and opposition has their magic medicine to improve quality of life, and affordability. Ireland politics is not unique in this. You may look for the differences, but result will be same. Capitals and other premium locations will have property affordability problem. SF may come, may look for different solutions, affordability problem will stay.
