2021 Irish Property Market chat - mod warnings post 1

fliball123 · 23-03-2021 05:17PM

TobyHolmes wrote: »

ok cool. point goes to you. you win. yay

How many banks have been successful at repossessing the family home there Toby even during the last recession and people not paying a penny on their mortgage for up to 10 years and the banks still cannot repossess

23-03-2021 05:18PM

Pelezico wrote: »

What would get me is coming ho.e every evening to a property which I had paid more for than any of my neighbours.

That house would become an object of hate if a fall comes our way.

One thing is sure....the current situation is abnormal. The housing market is broken.

This doesn't make sense
Why would it matter what the neighbours paid? Ridiculous way of thinking, no one would ever but a second hand house if they thought like this!

TobyHolmes · 23-03-2021 05:20PM

Pelezico wrote: »

What would get me is coming home every evening to a property which I had paid more for than any of my neighbours.

That house would become an object of hate if a fall comes our way.

One thing is sure....the current situation is abnormal. The housing market is broken.

yes exactly. i think from the perspective of a person who has lived in other countries and can see what those places offer in comparison to what you pay here for a house. i just cant justify paying a high price for something i deem to be of low value. yes i know market dictates it yadda yadda. in my personal opinion paying half a mill for a property you cant swing a hat in - is not worth it. and i'd rather pay that money elsewhere - in another country. but thats my opinion. im sure all the real estate agents on here wont like my comments but unlike them I dont have a vested interest. and i certainly dont believe some forum on boards.ie is going to influence opinion lol

fliball123 · 23-03-2021 05:21PM

bubblypop wrote: »

This doesn't make sense
Why would it matter what the neighbours paid? Ridiculous way of thinking, no one would ever but a second hand house if they thought like this!

True I mean even if you compare to a neighbor I am sure prices were a lot higher back in 2007 and then hit the lows in 2012 if two neighbors both in these years there could be anywhere up to a 50/60% difference in the price for the exact same build and looking at it in 2021 if you looked at the neighbor in 07 your getting a good deal and if you look at the neighbour in 2012 you would think your being fleeced.

TobyHolmes · 23-03-2021 05:22PM

bubblypop wrote: »

This doesn't make sense
Why would it matter what the neighbours paid? Ridiculous way of thinking, no one would ever but a second hand house if they thought like this!

because if you both buy the same sweater. why should someone pay 50 euros and someone else pay 100 euros for that same sweater.

the person who paid 100 euros is silly.
they should just find another sweater.

Ush1 · 23-03-2021 05:25PM

TobyHolmes wrote: »

because if you both buy the same sweater. why should someone pay 50 euros and someone else pay 100 euros for that same sweater.

the person who paid 100 euros is silly.
they should just find another sweater.

lol whut?

Pelezico · 23-03-2021 05:26PM

bubblypop wrote: »

This doesn't make sense
Why would it matter what the neighbours paid? Ridiculous way of thinking, no one would ever but a second hand house if they thought like this!

Ok....it makes sense to me but everyone is different.

It would really concern me if I overpaid. As I said everyone is different.

Marius34 · 23-03-2021 05:34PM

TobyHolmes wrote: »

yes exactly. i think from the perspective of a person who has lived in other countries and can see what those places offer in comparison to what you pay here for a house. i just cant justify paying a high price for something i deem to be of low value. yes i know market dictates it yadda yadda. in my personal opinion paying half a mill for a property you cant swing a hat in - is not worth it. and i'd rather pay that money elsewhere - in another country. but thats my opinion. im sure all the real estate agents on here wont like my comments but unlike them I dont have a vested interest. and i certainly dont believe some forum on boards.ie is going to influence opinion lol

like where? I don't know places with good opportunities of good paying jobs and low property price.

fliball123 · 23-03-2021 05:38PM

TobyHolmes wrote: »

yes exactly. i think from the perspective of a person who has lived in other countries and can see what those places offer in comparison to what you pay here for a house. i just cant justify paying a high price for something i deem to be of low value. yes i know market dictates it yadda yadda. in my personal opinion paying half a mill for a property you cant swing a hat in - is not worth it. and i'd rather pay that money elsewhere - in another country. but thats my opinion. im sure all the real estate agents on here wont like my comments but unlike them I dont have a vested interest. and i certainly dont believe some forum on boards.ie is going to influence opinion lol

Well here is the good news no one if putting a gun to your head to buy so work away and buy or dont buy where or whenever you want Toby. I am sure everyone else will weigh up their own needs first before making their decision to buy or sell or not to buy or sell

23-03-2021 05:40PM

I so fundamentally disagree with the last two pages. If someone sees a property in which they see themselves building a home and a life, then I would go for it even if it’s more expensive than you’d like. But that’s just me. The environment in which I want to build my life is more important than any other investments I might make.

And some would have you believe that other investments outside of property have no risk? Which is palpable nonsense. Especially now with so much uncertainty coming down the track, and the fact that your cash is going to start losing substantially value as inflation rears its head

Not suggesting that you should ignore the fact that prices are high. But I would not let me put that off buying the perfect home

TobyHolmes · 23-03-2021 05:40PM

Marius34 wrote: »

like where? I don't know places with good opportunities of good paying jobs and low property price.

look to the US - you can buy nice homes at a reasonable price within an hour commute of a major city.

Boston for example is commutable from providence, RI and new hampshire.
NY is commutable from New Jersey and Connecticut.
Washington DC is commutable from Virginia and Maryland.

or elsewhere in Europe. Germany for example.

just some ideas. its a huge world out there folks.

TobyHolmes · 23-03-2021 05:42PM

fliball123 wrote: »

Well here is the good news no one if putting a gun to your head to buy so work away and buy or dont buy where or whenever you want Toby. I am sure everyone else will weigh up their own needs first before making their decision to buy or sell or not to buy or sell

did i judge you? i am giving an opinion. isnt that what a forum is. i was commenting on a post and giving my opinion. why is everyone so riled up about an opinion on property prices.

TobyHolmes · 23-03-2021 05:43PM

Deleted User wrote: »

I so fundamentally disagree with the last two pages. If someone sees a property in which they see themselves building a home and a life, then I would go for it even if it’s more expensive than you’d like. But that’s just me. The environment in which I want to build my life is more important than any other investments I might make.

And some would have you believe that other investments outside of property have no risk? Which is palpable nonsense. Especially now with so much uncertainty coming down the track, and the fact that your cash is going to start losing substantially value as inflation rears its head

Not suggesting that you should ignore the fact that prices are high. But I would not let me put that off buying the perfect home

its fine to disagree. i understand your points. and yes you are perfectly entitled to care more about buying a home to build a life than the price of it. thats perfectly fine.

fliball123 · 23-03-2021 05:46PM

TobyHolmes wrote: »

did i judge you? i am giving an opinion. isnt that what a forum is. i was commenting on a post and giving my opinion. why is everyone so riled up about an opinion on property prices.

I am hardly riled up I am just saying that if you see no value great and that your not being forced to buy

TobyHolmes · 23-03-2021 05:47PM

fliball123 wrote: »

I am hardly riled up I am just saying that if you see no value great and that your no one is forcing you..

ok. but whats the point in saying it. i said throughout all my posts In my opinion, this is my opinion etc. what I said obviously annoyed you so you felt you had to remind me that no one is forcing me to buy a house. im perfectly aware of that. but thank you for the reminder.

Marius34 · 23-03-2021 05:50PM

TobyHolmes wrote: »

look to the US - you can buy nice homes at a reasonable price within an hour commute of a major city.

Boston for example is commutable from providence, RI and new hampshire.
NY is commutable from New Jersey and Connecticut.
Washington DC is commutable from Virginia and Maryland.

or elsewhere in Europe. Germany for example.

just some ideas. its a huge world out there folks.

You don't need to spend half million for 1 hour commute from Dublin neither.
For many it's not as easy to get job in US, due to the Work Visa requirements. I had more in mind Europe. What makes you think that Germany property price are cheaper in relation to Wage?

TobyHolmes · 23-03-2021 05:52PM

Marius34 wrote: »

You don't need to spend half million for 1 hour commute from Dublin neither.
For many it's not as easy to get job in US, due to the Work Visa requirements. I had more in mind Europe. What makes you think that Germany property price are cheaper in relation to Wage?

oh lord - on all the forums ive been on on Boards.ie - none are more argumentative than the ones regarding property.
people are so emotionally vested in it.
so i will answer you in a very nice way so not to upset anyone further.
you are right and have a nice day.

fliball123 · 23-03-2021 06:02PM

TobyHolmes wrote: »

ok. but whats the point in saying it. i said throughout all my posts In my opinion, this is my opinion etc. what I said obviously annoyed you so you felt you had to remind me that no one is forcing me to buy a house. im perfectly aware of that. but thank you for the reminder.

My point is not everyone has the same point of view. thats all

23-03-2021 06:04PM

Pelezico wrote: »

Ok....it makes sense to me but everyone is different.

It would really concern me if I overpaid. As I said everyone is different.

And how does it make sense?
One neighbour may have bought their house in 2007, another may have bought in 1997, another may have bought in 2019, do you see where this is going?

MacronvFrugals · 23-03-2021 06:06PM

McWilliams is divisive on here but interesting nonetheless...

"David McWilliams urges house buyers to stop searching immediately as market is at ‘peak dysfunction’"

The economist also highlighted the fact that house prices are rising while the price of rentals are falling – a key signifier that it is time ‘not to buy’.

‘My take on Ireland right now is that in the last year, the number of properties available to buy has fallen by 40%. Why is this? Because at the start of the pandemic, the Government said ‘no viewing’,’ McWilliams said speaking on his podcast.

‘So you can’t view the house. So, therefore, would-be sellers are saying “if there’s no viewing, I won’t put the house up for sale” – particularly if they want to get a good price and move on.

https://extra.ie/2021/03/23/must-see/david-mcwilliams-urges-house-buyers-to-stop-searching-immediately-as-market-is-at-peak-dysfunction

hometruths · 23-03-2021 06:11PM

bubblypop wrote: »

And how does it make sense?
One neighbour may have bought their house in 2007, another may have bought in 1997, another may have bought in 2019, do you see where this is going?

There are lots of posters on here who say it doesn’t really matter what you pay for a house, if you can afford and will be happy there for a long time. That’s fair enough.

But relatively recent history shows us that’s lots of people really really do care if they pay big money for a house and It is subsequently worth barely half what they paid for it.

It’s a bit daft to argue with somebody because they’re price sensitive on the largest purchase of their lives. You might not be price sensitive but to suggest other people are silly to be is crazy.

TobyHolmes · 23-03-2021 06:15PM

MacronvFrugals wrote: »

McWilliams is divisive on here but interesting nonetheless...

"David McWilliams urges house buyers to stop searching immediately as market is at ‘peak dysfunction’"

https://extra.ie/2021/03/23/must-see/david-mcwilliams-urges-house-buyers-to-stop-searching-immediately-as-market-is-at-peak-dysfunction

people though arent thinking with their heads at the moment

its panic buying
its emotional buying
its i am trapped in this place as a result of this pandemic and i need my own house buying
its I have the money so i must buy now, now, now

believe me i understand it

but people have to learn the lessons for themselves

Sierra Oscar · 23-03-2021 06:17PM

MacronvFrugals wrote: »

McWilliams is divisive on here but interesting nonetheless...

"David McWilliams urges house buyers to stop searching immediately as market is at ‘peak dysfunction’"

https://extra.ie/2021/03/23/must-see/david-mcwilliams-urges-house-buyers-to-stop-searching-immediately-as-market-is-at-peak-dysfunction

All of his points are spot on, but it doesn't change the fact that one of the core reasons we have a dysfunctional housing market with increasing prices is due to a supply crisis. Which is getting worse.

cnocbui · 23-03-2021 06:18PM

'‘In two or three years, all the construction that was put on the back burner [with the current situation] will be accelerated. So there will be lots more new apartments, lots more new developments.'

He's a twit who's out of touch.

People don't want f'n apartments.

You only live once, so this wait a few 'years' stuff is for the birds.

If you have a limited construction workforce, you won't be accelerating anything.

So long as the mortgage is less than the rent, the falling rent argument is moot.

If you already have your accommodation sorted, it's really easy to advise other people to put their aspirations on hold for half a decade or more. I'm all right jack.

TobyHolmes · 23-03-2021 06:18PM

Sierra Oscar wrote: »

All of his points are spot on, but it doesn't change the fact that one of the core reasons we have a dysfunctional housing market with increasing prices is due to a supply crisis. Which is getting worse.

yup!

fliball123 · 23-03-2021 06:24PM

MacronvFrugals wrote: »

McWilliams is divisive on here but interesting nonetheless...

"David McWilliams urges house buyers to stop searching immediately as market is at ‘peak dysfunction’"

https://extra.ie/2021/03/23/must-see/david-mcwilliams-urges-house-buyers-to-stop-searching-immediately-as-market-is-at-peak-dysfunction

yeah its quite easy for someone who probably has a nice big house worth well over a million with no mortgage to tell others dont buy now keep paying that insanely high rent. Yet there is a massive supply problem that is not going to be fixed anytime soon and when the world opens again and we start seeing immigration increasing into Ireland again we will have a need for more housing to be built

Cyrus · 23-03-2021 06:25PM

schmittel wrote: »

There are lots of posters on here who say it doesn’t really matter what you pay for a house, if you can afford and will be happy there for a long time. That’s fair enough.

But relatively recent history shows us that’s lots of people really really do care if they pay big money for a house and It is subsequently worth barely half what they paid for it.

It’s a bit daft to argue with somebody because they’re price sensitive on the largest purchase of their lives. You might not be price sensitive but to suggest other people are silly to be is crazy.

no one wants to spend a million on a house if its going to be worth 500k in a years time, i dont think anyone is arguing that, but the point is also well made you cant really worry about what your neighbour paid, depending on when they bought it they could have paid double or 1/5 of what you are paying now.

Cyrus · 23-03-2021 06:25PM

Back to the houses, cant say im a fan of the extension here

https://www.myhome.ie/residential/brochure/2-woodbine-park-booterstown-dublin/4490549

TobyHolmes · 23-03-2021 06:26PM

fliball123 wrote: »

yeah its quite easy for someone who probably has a nice big house worth well over a million with no mortgage to tell others dont buy now keep paying that insanely high rent. Yet there is a massive supply problem that is not going to be fixed anytime soon and when the world opens again and we start seeing immigration increasing into Ireland again we will have a need for more housing to be built

there will be mass emigration due to remote work
people certainly wont be coming here

MacronvFrugals · 23-03-2021 06:27PM

To quote McWilliams from a 2003 episode of Prime Time -

"The Irish housing market is a scam, it is an enormous financial swindle that could potentially confine an entire generation of young Irish workers to years of bad debt"

2021 Irish Property Market chat - *mod warnings post 1*

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2021 Irish Property Market chat - mod warnings post 1