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

Are the rest of the world having the same housing crisis tho? that could keep our prices solid...

The banks predict a drop of 10-15% in worst case scenario…where does that bring us? Housing prices back to pre-Covid levels.

it is likely that a drop like this will happen with rising rates but it’s more than likely translates to a 10-15% drop in real terms than nominal terms.

People expecting a drop in prices to 2012 prices are delusional.

Well I'm living in Brussels. And I don't see the same here... Plenty available to rent...

The government are paralysed now - emergency measures are needed, but instead they're afraid to do anything more than make minor insignificant changes.

The biggest hindrance now is recruiting construction workers - because they've nowhere to live. Like anyone else - they don't want to move around because of the rental mess. Its also massively adding to labor costs because a builder (rightly) isn't going to absorb the cost of either crazy rent or a long commute.

We were well able to pull out every stop to find accommodation for refugees when faced with it. The same should be done in the national interest for construction workers, its an emergency and it isn't being treated like one.

There's no reports / graphs on there, but the price register section shows sale price & asking price. Somewhat useful

Because it’s used to model the losses for a bank so they are more interested in downside risk…it’s also normally a harsher assessment compared to imf, central bank etc.

Ireland was the only area in the EU to show an increase in demand for mortgages in the final quarter of 22.

Rush to fixed rate perhaps, while still available at decent rates?

Sound bite politicians. That's all I see anymore create sound bites that give the illusions they are changing and doing good. The age old saying watch what they do not what they say - this can be said for government and the main western central banks who have made an absolute shambles of the inflation situation. They have lost all credibility with their forecasts and assumptions and are quickly losing the people too which is worse than the markets.

I think that was more wishful thinking than anything else. We've had nearly ten years of solid growth, and it's making things simply too expensive for a lot of people. Personally, and not to be facetious, I'd take my chances in a crash over the continuation of this.

This is Ireland, hazard a guess what might happen if such a scheme was introduced.

Landlord keeps property empty while sussing out tenants that may have an interest and capacity to buy in a supply starved market

Sell to tennant after a period of rental. Cgt gain is split at pre agreed level.

Result: increase void period of rentals.

increase short term let's until landlord finds appropriate tennant to pull off the CGT gain.

Reduce rental stock.

Create an incentive for long term professional indegenious landlords to exit the market having built up a significant capital gain on his/her properties

I wonder who lobbied for this particular "solution"

Does anyone really put any faith in bank forecasts though?