Irish Property Market chat II - *read mod note post #1 before posting*

why is there an assumption that someone who disagrees with the doom sayers has a vested interest?

There is no reason for the CB to this unless they have been bribed by developers. Well bloody sure i am going SF. Really hope they destroy this economy for the pigs.

Why do you present any negative comment as doom-saying? This specific piece of news will keep prices higher than the market would otherwise have dictated they be. That is good for some, bad for many others. Should not be difficult.

He was replying to the following post

Who after @SwimClub gave an analysis of what was happening declared he had a vested interest.

Anyway they are not doomsayers they are Chicken Lickens flapping around for the last eight years screaming ''the sky is falling in''.

Just hope nobody took there advice over that time and gave up a purchase and is now squeezed out of the market

SwimClub said this:

""What I think most people would agree we want and you have in housing in more stable long term markets like France are prices that go up with or a bit above long term inflation every year and give a good rental yield.

We are up around 2% on prices 15 years ago, so well below inflation increases."

Quite aside from how utterly disingenuous the comparison to 2007 prices is, the above is reflective of what he wants from the market. So, it's not some kind of unsubstantiated accusation on my part, I was just pointing out it didn't require 16 paragraphs to say "this works for me".

No, it's what any investor wants and what we all want from the market to increase supply, reduce homelessness etc.

Unless you have 100 billion sitting down the back of the couch you are willing to invest at current rental yields to help housing supply?

Absolutely it's a supply issue. But the reason that costs are so high for building in Dublin, for example, are because of land prices, not building costs per se. So what do you think will happen when people have access to more credit? Do you think that land prices will remain static?

Never mind the fact that barely any new housing at all has been built in Dublin (besides swathes of btl apartments), and that what has been built has generally already been at the much higher end of the market.

I wonder did that research come across the fact that those European markets are far more bubblier than ours and this one measure instantly brings us to those levels at the absolute top of the market.

This allowed a system where wealthy institutions hoovered up property knowing people were constrained in bidding when they were somewhat affordable, now these constraints are being removed when investment funds need to offload and de-risk.

This one act is the greatest act of legalised robbery by the wealthiest on the working citizens of this country

Do other countries have 0 tax for the wealthiest investors, FTB grants, shared ownership BS,

Don't be stooge for a system that is robbing our children blind. Did you read the first article from the indo on the public consultation. The vast majority of respondents said there should be no change. It's the minority that are milking the system that are dictating policy. That minority are extremely wealthy, powerful and traditionally bankrolling the political parties currently in power

The Central bank cannot justify a decision on concerns regarding the supply of housing as that has nothing to do with their remit

This is pure vested interest and political interference.

It's a rinse and repeat of the shared ownership, where all independent advise was ignored

Somebody put kwasi kwarteng and lizz truss on notice as this is the only country that would employ their skillset right now and pay them more

20% deposit for second time buyers also removed

There is not enough housing, hence demand outstrips supply, hence prices became unaffordable.

There are only two ways of looking at why there is not enough housing. Either that there are too many extra people, or that there are not enough extra homes.

The word "extra" is of the highest importance, as neither the amount of housing or amount of people were a problem before. This is an issue that has been created out of thin air.

What side you fall on with this issue is a matter of logic and reasoning ability.

Consider a similar status quo situation where the problem must be created; the antarctic. No housing supply issues, not too many people. Some government sends 1000 people to the antarctic, but shock ensues as there is nowhere for them to live. Now, what is the fundamental problem?

Is it that there isn't enough housing, that there should be gigantic pressure put on the government to build more housing in an extremely difficult environment? Should all attention and effort be put on housing solutions? Should one try to steer the cart with the horse behind?

Or, should the question be raised to its due importance as to why a thousand people showed up in the antarctic without any suitable accommodation?

Therefore, the likes of this loosening of financial restrictions is utterly amazing in the face of the issue. It reeks to high hell of a last squeeze and will lead to an even more tattered country.

Ignorance, most willful, is the problem in this place, a complete failure to engage with reality. There'll be very few people who didn't see this coming after the fact, with fewer still that dared to point it out beforehand. But everyone knows the story, despite the facade.