Marius34 wrote: » No, i'm not saying that BTL alone fuelled bubble, it's massive Credits taken by BTL/FTB/STB. 20% might look as not to high in percentage form, but it's most probably higher in volume (28,000 properties/in 2006), then all none-household buyers all added-up together in current year. And 23% might look high today, but the same number of sales would be below 10% in 2006 competition
schmittel wrote: » You've been banging on that we are not currently in a bubble because there is no cheap and easy credit in the market, look at the CBI income and LTV rules etc. From these posts it seemed that you had failed to understand the impact of the cheap and easy credit available to the funds/councils etc. But your posts this evening confirm that you've recognised that now. So if you now think that there is in fact cheap and easy credit in the market, is it possible that we are currently in a bubble?
Deleted User wrote: » It is insane. You’d want to be small too. Extrapolate the height of the downstairs ceiling from the height of the chairs and dining table. It ain’t high.
‘There is no question that almost all of the Irish media for the last 10–15 years has had a crucial economic stake in a rising property market. Because property advertising is very lucrative and is a very important part of what makes the Irish media tick"
MacronvFrugals wrote: » Interesting quote from Fintan o Toole in 2009 This free paper from UCD's Dr Julien Merceile is the number one source on the Irish media's relationship with the property sectorhttps://www.researchgate.net/publication/263725836_The_Role_of_the_Media_in_Sustaining_Ireland's_Housing_Bubble/link/552450130cf2b123c5173a89/download
fliball123 wrote: » Yeah I was of the opinion up till the start of the year as the historical data would of borne that out that we were not in a bubble but recently in the last month or so I think we might be at the start of one. Prices seem to be flying up and with people bidding against the state with their access to credit it might inflate it for some time. But like everything else we will only know in hindsight
fliball123 wrote: » Also there is no easy access to credit, ask anyone trying to get a mortgage the hoops you have to jump through are crazy and the central bank rules have keep prices in check. 2005/6 banks were given money out like confetti, 110% mortgages anyone.. The is not the same in 2021
Hubertj wrote: » Am sure he’s a clever boy and knows his stuff but also 1 of the 0 Covidiots. Imagine a geography teacher telling people how to manage the Irish border! Mad stuff altogether!
For example, economic consultant Peter Bacon said that the ‘housing market is well underpinned by demographics’ (27 August 2003).
Fianna Fail politician Sean Fleming declared that ‘definitely, the house market is going to be very strong in Ireland for the years to come’ because of ‘growing population’ and because ‘incomes are strong’ (12 April 2006).
On the same show, Shane Daly (of real estate company Gunne New Homes) said that ‘people exaggerate often the level of debt that people are getting into’ (12 April 2006).
fliball123 wrote: » Show me one bubble in history not predicated on easy access to cheap credit?
sanfranbest wrote: » This house has been on the market for a few months, it was originally priced at 1.2 million, Now it has been relisted at 995k It's still a horrible house,, no curb appeal,,, dark and bad layout, Still not worth 995K,,, You are paying for the address,, not the house,,https://www.daft.ie/for-sale/detached-house-106-baggot-lane-ballsbridge-dublin-4/3152823
Fuzzy_Dunlop wrote: » What is going on with that steel beam cantilevering out over the back garden?
Interested Observer wrote: » Bizarre isn't it. It's like they were planning to build bigger at the back and then stopped.
JohnnyChimpo wrote: » I thought this was just the usual Boardsie begrudgery, but then I took a look at the link and it's truly one of the most GUBU house designs I've ever seen. Mews designs are often weird, and maybe there were issues with historical protection, but still very strange
lalababa wrote: » Apologies if this has been touched on before..but just took a look at bidx1 results for March in the lower price brackets and by my reckoning results are around 1/3 higher than a year ago. E.g. a group of holiday homes in Kerry that went for between 40k and 65k from 2019 on has one sold in March for c.103k. Banna beach holiday homes. Houses off the beaten track or well in the countryside that were 35-75k are now 50-100k.
schmittel wrote: » Well that clears that up. No argument from me with the above about this year anyway. I must have misunderstood you, as for some reason I thought you were saying the complete opposite yesterday:
fliball123 wrote: » No as you say I think you misunderstood no harm no foul
Zenify wrote: » https://www.irishtimes.com/opinion/david-mcwilliams-stay-away-from-the-property-market-it-holds-no-value-1.4520834?mode=amp Article today about property. I don't have a subscription so anybody care to provide the details?
The worst thing about this state of affairs is that once you buy a property, you swap sides. When looking for a property, the buyer wants prices to fall, but once the property is purchased, self-interest morphs the new homeowner into a person who wants prices to rise. However, this game of looting the younger generation to copper-bottom the wealth of the older generation can only go on so long. Eventually, prices go so high that rates of home ownership plummet, as is happening now. At this point, the state that is wedded to the property-finance complex comes up with all sorts of wheezes to keep the intergenerational scam going.
LasersGoPewPew wrote: » David predicted a collapse of the property market just when covid hit. Now it has gone the opposite way. It's ok for him to tell people in their 30's to partake in a buyer strike when he's sitting comfortably in a nice house in Dun Laoghaire with probably no mortgage to service, or can easily pay it. Nobody has an answer to the ever-rising price of rent or property values. Some properties have doubled in value in the past 8 years(nice areas of Dublin). We are absolutely desperate to buy and start a family but prices keep rising, we can't get viewings, quality of housing currently available is abysmal.
yagan wrote: » The last year is not comparable to any year, either in a booming or falling market. I'd describe it as ossified market. He did raise an interesting point about volume last being this low as 2006 when the prices were red hot. I remember noting empty estates piling up all around yet venders weren't selling. One high end empty gated estate near where I was living had actually been taken over the bank in 2006 and they were simply hoarding it.It will be very interesting to see what happens when viewings can start up again.
LasersGoPewPew wrote: David predicted a collapse of the property market just when covid hit. Now it has gone the opposite way. It's ok for him to tell people in their 30's to partake in a buyer strike when he's sitting comfortably in a nice house in Dun Laoghaire with probably no mortgage to service, or can easily pay it. Nobody has an answer to the ever-rising price of rent or property values. Some properties have doubled in value in the past 8 years(nice areas of Dublin). We are absolutely desperate to buy and start a family but prices keep rising, we can't get viewings, quality of housing currently available is abysmal.
mcsean2163 wrote: » He's in dalkey and don't forget about the holiday home in Croatia.
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