Stark wrote: » Asking prices aren't crazy but people seem to have completely abandoned the idea of having a walk away price in the bidding wars. Also I'm pretty sure this bid before you view thing is pushing prices up. I'd say a fair few of the people who love to view properties with no intent of buying are now pushing the bids to the max in the knowledge that they're under no obligation to go through with the purchase. Quite a few estate agents I've dealt with have only asked me for proof of funds when the bidding was closed so you could have all sorts of messers.
DataDude wrote: » P.S. I don't think I've ever met someone who considers proximity to the airport as a key factor in buying a house. How many holidays do you go on???
treenytru wrote: » Many that agree with you stark. People bidding just to go sale agreed to get a view of the house, then pulling out. Kicker us some estate agents reposting ad at that inflated price. Paul merriman, a financial advisor, advising people to get out of the market for 18mths - 2 hrshttps://www.newstalk.com/news/buying-a-home-during-lockdown-some-people-are-bidding-just-to-get-a-look-at-a-house-1172478
givyjoe wrote: » Good luck getting a job in a multinational, based here, in the future so. If they go fully remote there is literally zero incentive for them to hire staff here, of they can be got elsewhere, for the same or less cost and arguably a larger pool of equal talent to choose from. While multinationals INITIALLY may have been all for remote working, that isn't the case at this point as they're starting to see a lot of the negative effects of FT WFH appearing. Very few if any companies will be fully remote and even fewer staff will be. It won't be long before FT WFH start getting serious fomo while their colleagues return at least some of the time to the office. Whether that be social interaction, promotions etc, they absolutely will be missing out at home. These multinationals are also largely staffed by highly mobile immigrants, the absolute last place they're going to be moving to is ballygobackwards. As I said, very few will be 5 days, WFH, 1 day in the office is pointless and hubs just aren't a reasonable prospect for the vast majority of companies. Multinationals make up a small proportion of our total workforce. They will not be the ones making a noticeable difference to the wider housing market. They may make a dent in the premium rental market in Dublin however.
theballz wrote: » The biggest issue is supply. I’m a first time single buyer, I was bidding on a ground floor apartment a few weeks ago. It went for 70k over asking price (without being able to view it.)6 months prior, an apartment in the same building top floor went for cheaper. Rents are falling too. It’s not a time to be buying, the government needs to let construction back or this will be years as you correctly said.
standardg60 wrote: » Glad you admit that they are here for a reason at least. Do i think that reason can remain long term? No i don't. We are sleepwalking into a scenario of mass multinational exodus, creating a housing/rental bubble on it's temporary back. And who's to blame? Anyone who's posted on this thread complaining about their inability to climb onto the property ladder must also ask themselves if they mentioned 'the homeless crisis' in various polls leading up to the last election. Those who promised action gained traction leading those who gained power to run scared. Government parties are only ever interested in the next election, hence an interference in a market in which they should play no part. What if car ownership became a fundamental right, and tax incentives, rent subsidies, shared equities, and help to buy schemes became the norm. Do you think prices would rise or fall? We are all authors of our own downfall, all hoisters of our own petard, all that remains is how long the pretence can be maintained by cheap Government borrowing. The State is the new Anglo.
coolbeans wrote: unfortunately. Tldr ; we're not as useless and without value as you think we are and there are way, way more people than houses to accommodate them. #nobubble.
Villa05 wrote: » A people's value should not be defined by the value of their homes
Villa05 wrote: » Wall Street journal have a piece on House prices rising in many markets/countries. Money printing and 0 interest rates could be blowing up a bubble of epic proportions Will post link later. Ps does anyone know how to post a link on the boards phone app
coolbeans wrote: Another reason we're not in a bubble is population trends which put plainly show that there are far more people than available houses and that trend is set to continue. In that respect it's nothing like the previous crash where people built houses.
Villa05 wrote: » I believe like you that we are not useless and therefore we have the capability to forecast demand and put in place plans to meet that demand with adequate supply. We have a 20 plus years headstart in forecasting demand Given the current scenario and the relative ease in forecasting demand, we have to ask ourselves why there is such an imbalance. All government policies are demand side from a state that is the largest owner of the key ingredient of increasing supply ie Land Supply side policies such as vacancy taxes, taxing land hoarding etc are blocked by industry lobbyists. Ineffective and expensive regulation is rife in the industry adding significant cost to the end user Entities that have access to 0% finance and pay no tax are the most active in the most expensive markets therefore set price pushing out workers in those areas So one can argue that demand/supply is being controlled and entities whose sole objective is to increase price and rents are been given a huge taxation advantage by the state over its citizens Could you create a more perfect breeding ground for the formation and sustaining of an asset price bubble. The problem is that the state that is the most indebted in the EU is financing and subsidising this madness We are babies playing with fire
riclad wrote: » if you live in a small town you can buy a house at a low price, considering mortgage expense,s, you will have maybe a better quality of life,theres less noise, zero traffic jams,easy to find a parking space.
riclad wrote: » If you can get a full time job there . if you are working for certain companys, eg intel, google, etc you have to live in or close to dublin.
riclad wrote: » Most big civil service government offices are located in dublin
riclad wrote: » the government does not help small landlords financially . the goverment only helps first time buyers mostly.
riclad wrote: » i think its a great idea in that it will increase investment in rural towns, it will reduce traffic,
riclad wrote: » its like they copied wework, eg use old empty buildings for shared office space with modern faciltys like high speed internet wifi. i don,t think the government wants to inflate house prices, i think they want people on a average wage buy a house.
riclad wrote: » i think in 2019 the government announced a plan to build 1000,s of social housing units, before the covid crisis happened to close down all building sites.
LasersGoPewPew wrote: » In the context of my own little bubble of self serving interests, the market has gone off the rails in the past few weeks. One property of particular interest has risen by almost 80k in barely 2 days. I bid on many properties in the past year and a half but I have never seen anything like this considering the type of house and the area. It's a frenzy of bid after bid coming in. I could share more stories of much the same for plain bare bones properties. I am convinced EAs are taking bids from non AIP buyers who are desperate to get viewings.
cnocbui wrote: » Well This a remarkable turn around in attitude. I suggested earlier that people who can't afford to buy in Dublin should perhaps look outside of Dublin where housing is cheaper and i had my head bitten off. Now it's a great and sensible idea. :rolleyes:https://www.boards.ie/vbulletin/showpost.php?p=116673947&postcount=6470
coolbeans wrote: » This is ridiculous negativity. Your entire argument seems to be based on Ireland's low corpo tax regime and if that changes then they'll all be gone in the morning. In other words we have nothing to offer apart from tax which is total rubbish for reasons others have touched on. The mass exodus you speak of is not going to happen as there are many other reasons they are here (as others have touched on) that have nothing to do with tax. Another reason we're not in a bubble is population trends which put plainly show that there are far more people than available houses and that trend is set to continue. In that respect it's nothing like the previous crash where people built houses regardless of demand or location. Look at the CSO website and crunch the numbers for yourself. IMO the only asset that may be overvalued are certain flats in Dublin but houses, no way. The only way is up for them unfortunately. Tldr ; we're not as useless and without value as you think we are and there are way, way more people than houses to accommodate them. #nobubble.
standardg60 wrote: » Surely your own statement that there are more people than available houses is the very essence of a bubble?
Graham wrote: » A people bubble? Is that a thing?
standardg60 wrote: » If the Corp tax rate is so low down the list of priorities of MNCs then why is our Government dead against the harmonisation of it with our EU neighbours? Surely your own statement that there are more people than available houses is the very essence of a bubble?
Baby01032012 wrote: » Had a look at the Daft Q1 sales report being released tomorrow, supply down 34%, average price nationwide up 7% in Q1. Dublin prices up 8% in last 12 months with many counties outside Dublin up 11-12% in last 12 months.
coolbeans wrote: » Of course the government would lobby to keep the status quo as it is one element of our competitive advantage along with English speaking, Anglo/US business culture, access to EU etc and an embeddedness of skills experience, and infrastructure in high value sectors that have been here for nigh on fifty years. Do you have any idea how hard it is to get FDA approval when you're manufacturing for and exporting to the US market for example? Your second point makes no sense to me, sorry.
Hubertj wrote: How would you have proposed the government deal with the shortwave of skilled labour over the last 5-7 years? There was a focus on building offices of which there was a shortage. Offices were required for people to work in. Should the government have increased the number of people coming to Ireland to work? If so where would those people have lived? Where would they come from? I’ve asked you this a few times but you can’t or won’t answer the question.
