Softening house market?

I have a hunch - and it's nothing more concrete than that, just based on observation - that things might actually be picking up again a little. Certainly, the better properties are still going sale agreed quickly, and if anything, it feels like fewer properties are lingering than before. I don't have anything solid to back that up, though.

Supply certainly trending back down.

Arent, you contradicting yourself?

"Buy NOW!"

But then you admit it was a mistake.

I dont believe you.

In 2006 you would have been 26, yet you saved 50k, while also drinking the **** out of it and travelling the world?

While you had a starting wage of 12,500 pounds and spend 500 a month on rent?

Sorry, it doesn't compute.

And I wouldn't be taking any glee from anyone else having difficulties in the property ladder. Someone in their mid-20's who has grown up in the middle of an asset bubble where things are going mental and everyone is pushing money at them left right and centre isn't necessary well placed to realise any risks. That is why certain lending rules were brought in. You shouldn't need lending limits if the banks were lending responsibly. They were not though.

As I mentioned above, I know someone who left college with bank loans totaling multiples of 5 figures. Interest rate was over 10% on those loans which was penal at the time. It wasn't that the money was needed for survival, just that the Bank kept offering more and more and it was a very easy trap to fall into.

I don’t think they would come down. That additional ‘profit’ would go into the landlords pocket. It would surely improve supply, as more would rush to get onto the ladder, but that supply would take years to materialise.

but in the short term I think there would be no reduction in rents, and house prices would likely increase as landlords would buy more homes.

By the way, I am not a landlord.

The rent market is extremely dysfunctional. Madness with strangers sharing rooms for exorbitant prices.

There should be a way of building small units flats with communal areas and rented at appropriate prices (obviously lower). This way, would allow people to save for a home.

The same way how Ireland has become a tax heaven for MNC to funnel all their EU revenues through their Irish shell companies ?

In terms of risk, all these REIT's can make a killing when the economy is doing well, with all their apartments easily bring in over €2k rent a month. I read not too long ago that Ireland was the third largest place for REIT's to invest in the world, crazy to think for a small country like ours. Assuming if/when **** hits the fan, will be interesting to see how these REIT's get along. IT article was saying about 31% of assets owned by these REIT have borrowing of over 60%.

Not to add by another figure from last year that over 40% of renters get some sort of support/subsidy from the government. All great stuff, as long as the corporate tax from these MNC keeps flowing in as we more or less are spending everything we get and have nothing put aside.

Regardless of what any company pays on its profit, when any of that profit is disbursed to the shareholders, it is taxed at their marginal rate when it hits their pocket.

There is a complaint alright about non-residents and double taxation treaties, but that is besides the point.

Talking to a guy who does mortgages for AIB, he reckons alot of people are waiting till January to get the new bollox 4 times limit. He reckons prices will go up again come start of year regardless of interest rates due to this. He also said it was one of the worst decisions the Central Bank could have made.

I am sure most will find plenty of additional loop holes to pay no tax in their home country.

But either way the system is just rigged against anyone who isn’t a REIT in the rental market. These REIT need high rents (more profit) for the model to work, all fine when economy is working fine. Will be interesting to see how it plays out when it ain’t. Time will tell.

I would be fearful if things go south then the government will step in and stop these REITs bleeding and buy some housing stock for top dollar instead of letting them collapse and buying them for a hell of alot cheaper in bulk.

I think you are confusing the meaning of "pretext".

I would get the popcorn out as that is what will happen if FG is in power when it happens. Again that is assuming we have money to buy them, considering we are spending every corporation tax we taken in as they come in. With nothing put aside.

If pensions funds were not leveraged then why were they getting margin calls in England a couple of weeks ago.