fliball123 wrote: » And now we have the big lads snapping up property left right and center and have the ability to soak up losses of not renting out some property in order to keep rents high..So yeah this is whats happening if the smaller landlord had been supported a bit more maybe there would be more competition in the rental sector
awec wrote: » Yes I have never really bought the argument that Ireland suffers when it loses it's small, amateur landlords. This was an argument thrown about all the time, particularly when the AirBnB rules were being discussed. "Don't do this or we'll sell!" Ok, great. Please do.
Mad_maxx wrote: » may i ask how you feel about small time property owners who have their houses - apartments leased to the local authorities ? i mean under long term leases , ten and twenty years , not referring to HAP
awec wrote: » I am not convinced that when a small landlord sells that it's one of the REITs doing the buying. It wouldn't fit their portfolio. It's either being bought by an individual for their own use, or it's being bought by another small landlord. REITs are increasing their stock by building more, or buying entire developments.
fliball123 wrote: » No maybe not but you cannot deny the fact that over the last 5 years the % of properties that were owned by small landlords has decreased and in the same period the amount of properties that REITS/Vultures control has increased, it may not be a 1 for 1 but there is a correlation there and the knock on effect is that property can be left empty to keep rents high
christin wrote: » Interesting podcast from David McWilliams on house prices at the moment echoes what some people said on this forum already "Current market has no value for money, very few amounts of bad property, sellers don't want to list houses as there are no physical viewings...People are panicking and current market is a rerun of 2005, 2006" Cease and desist. Get out of the housing market right now, plus the 5 fundamental ways cities are changing on Castbox. Check out this episode! https://castbox.fm/vb/366562479
PropQueries wrote: » But isn't that expected given we didn't have reits etc. 10 years ago. Given that small landlords were c. 100% of the market 10 years ago, it only makes sense that the percentage share of small landlords in the market has fallen in percentage terms as the reits etc. entered the market as we can't go above a total of 100%. The real question is has the actual supply of rental properties decreased?
Hulk Hands wrote: » Plenty of opinions from people here and on the other thread on McWilliams opinion who clearly didn't listen to the podcast. The other thread is full of outrage that "McBoofball" is telling people to step out of the market for half a decade until they're old and grey. Suggestions that he has something to gain from asking people to wait (what exactly?). He's simply saying that people aren't selling due to Covid, the only houses coming on stream are necessary sales due to elderly deaths and the construction ban is preventing new builds. He advised not to buy in this mini bubble period where there's nothing new coming to the market, and once Covid subsides (in the next few months) the market will return to some sort of early 2020 normal where demand doesn't outweigh supply by a ridiculous factor. He just said don't do something stupid in the next 6 months while there are no viewings allowed. He's not trying to tank the market until 2026
MacronvFrugals wrote: » Great jobs news today! "Intel to create 1,600 Irish jobs under global expansion plan"https://www.irishtimes.com/business/technology/intel-to-create-1-600-irish-jobs-under-global-expansion-plan-1.4518396
fliball123 wrote: » I would go back even further 2017 - 2019 superstar economists like David McWilliams first show states that we are back in a bubble even do we had no easy access to credit and this is what is needed to inflate a bubble and in hindsight he was proven wrong, but a lot of people would listen to him and make the decision to not buy.
Three chief conditions contribute to irrational exuberance and subsequent asset inflation:Low-interest rates: They make it easy to borrow money cheaply, which boosts investment spending.1 However, investors cannot receive a good return on their investments at these rates, so they move their money into higher-yield, higher-risk asset classes, spiking asset prices.2 Demand-pull inflation:This occurs when buyers' demand for an asset exceeds the available supply of that asset. As asset prices rise, everyone wants to get in on the profits.3 Asset shortage: This is when investors think that there is not enough of a given asset to go around. Such shortages make asset bubbles more likely because the imbalance between supply and demand leads prices to appreciate beyond the asset's value
Villa05 wrote: » Are you confusing stating a market is in a bubble and saying a market is due to crash. REITs and Government have acess to free credit, REITS benefit from irrational taxation systems which become priced into property. The overwhelming majority were predicting a fall this time last year, They did not fall because of this activity in the marketBubbles have many causes Three chief conditions contribute to irrational exuberance and subsequent asset inflation:Low-interest rates: They make it easy to borrow money cheaply, which boosts investment spending.1 However, investors cannot receive a good return on their investments at these rates, so they move their money into higher-yield, higher-risk asset classes, spiking asset prices.2 Demand-pull inflation:This occurs when buyers' demand for an asset exceeds the available supply of that asset. As asset prices rise, everyone wants to get in on the profits.3 Asset shortage: This is when investors think that there is not enough of a given asset to go around. Such shortages make asset bubbles more likely because the imbalance between supply and demand leads prices to appreciate beyond the asset's value NO I am saying Mcwilliams in his first new rassle dassle show back in 2017 was saying we are back in a bubble
Three chief conditions contribute to irrational exuberance and subsequent asset inflation:Low-interest rates: They make it easy to borrow money cheaply, which boosts investment spending.1 However, investors cannot receive a good return on their investments at these rates, so they move their money into higher-yield, higher-risk asset classes, spiking asset prices.2 Demand-pull inflation:This occurs when buyers' demand for an asset exceeds the available supply of that asset. As asset prices rise, everyone wants to get in on the profits.3 Asset shortage: This is when investors think that there is not enough of a given asset to go around. Such shortages make asset bubbles more likely because the imbalance between supply and demand leads prices to appreciate beyond the asset's value NO I am saying Mcwilliams in his first new rassle dassle show back in 2017 was saying we are back in a bubble
Hulk Hands wrote: » He's simply saying that people aren't selling due to Covid, the only houses coming on stream are necessary sales due to elderly deaths and the construction ban is preventing new builds.
awec wrote: » Stripe announced 1000 jobs in Ireland last week too I think.
K.Hawksworth wrote: » Yep, and Workday announced 400 last week also.
JimmyVik wrote: » Where will they all live?
awec wrote: » 3000 in a week or so, must be a record.
Claw Hammer wrote: » Funny that1. Two of my neighbours are sellig, one moving up market, one moving down. Both say they will rent until the find a new house.
The_Conductor wrote: » Being the last native English speaking country, with a common law legal system in Europe- is going to stand to our benefit, come what may, when it comes to choosing where to locate new employees. The other aspect is of course the manner in which companies in particular sectors tend to group together- so we have a critical mass of highly skilled workers available to suit different groups of industries. Ireland has a lot going for it. We have many many hurdles ahead of us, mostly financial in nature- but we also have many resources, including our people, that we can uniquely draw on, to plaster over some of the more egregious cracks in our business model, which is going to be forced to change in the near future. In 2019 the AO competition run by the Public Appointment Service for AO Finance Officer- had all participants give a 10 minute presentation on the opportunities and threats facing Ireland in the context of a global economy, with a particular focus on taxation. It is not something new and it is not something that is being ignored, rather it is an evolving situation that we are all going to have to subscribe to. We have a lot more going for us than a lot of people may openly acknowledge- however, we also have some fairly unique threats that we are going to have to decide how we wish to mitigate.
cnocbui wrote: » A commerce spokesman representing US companies based in Ireland has previously complained to the Irish government about the excessive costs and complexities of the Irish legal system calling them a notable disincentive, so I am not sure the legal system is exactly an attraction.
