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

Indeed. Those terrible days of the 80s and 90s and all that went with it. It was possible to raise a family on one income. My parents in their 20s were able to buy a home 5 minutes from my dad's parents in Dublin 3. I went to school in a class with just 15 other kids in central Dublin. The city was not an overpopulated, reeking cesspit... truly they were bad times. It warms my heart to live in this glorious modern Ireland, and I do not for one second believe that the state has turned this county into a globalist investment fund with a flag...

ESG has to be one of the most sinister and dangerous forces at work in the Western world. As a personal experience, I work for a large Irish company (I won't say which one), and we recently had a town hall with the new CEO. He spent a whole hour talking about ESG and not once did he mention anything related to the actual business of the company. Naturally, now that it's June, the office is festooned with rainbow flags for extra Blockrock brownie points.

ESG creates noting, but it serves to further the infinite growth paradigm. If it fails, and it likely will eventually, those who push the agenda like the aforementioned CEO will have moved on to another roost.

People coming off 1.5% to 6% now, it's going to lead to some amount of defaults.

How long does it usually take for houses to go from for sale to sale agreed? Im currently interested in a property that has no bids after 2.5 months. It is expensive in a good location but other houses in its range have come and gone in the period. Sellers have no interest in budging from asking price which seems a little odd considering it is on the market for quite a while now but maybe they all take this long?

Sometimes people only want to sell for a particular price. They are probably not too pushed about selling it for lower and will hang on to it rather than go lower. We were like that when we decided to move. We said if we didnt get x amount for our old house then were happy to just stay where we were forever instead of moving. I think you'll see more of this if prices start falling. People might rethink their decision to sell.

You seem surprised that people would chose to shoot themselves in the foot and yet there are post after posts wishing for a recession in hope of cheap houses.

You must have gone to my school as you described my experience to a tee.

And out of that was borne the Family Home Protection Act 1976. Designed by the Govt to protect wives and children from being made homeless by a wayward husband/father. Whilst it was no doubt relevant back in the day, I wonder if it is today?

This legislation is what has restricted the banks for reposessing defaulters (especially post GFC) at scale, one of the main reasons (the other being capital requirements) why we have reduced competition in the mortgage lending market here. Our banks here are cr@p, are not innovative and have sh!tty customer service. My local branch still shuts at lunchtime - right when everyone else at work wants to do their banking! Even the Post Officeis open at lunch!

It also forces lenders to have policies that married couples must apply jointly for a mortgage, so that in the event either spouse has a credit issue, then they are generally excluded from getting a mortage with any of the main lenders, even if that loan can be serviced adequately by one salary. The banks simply wont consider an application which is unfair.

https://www.esr.ie/article/view/1384

The Long-term Consequences of the Irish Marriage Bar

A sledge hammer but one that seemed to have a positive long term impact. You're getting the 70s/ 80s mixed up too. The world has moved on since the 80s. The commodore 64kB was a legend back then now computers have 16GB or 250,000 times more RAM. Toilet paper has changed too and amazingly these innovations were breought in by the generations that had a mother at home.

I'm not suggesting going back but it's not as grim as you're making it out. Our class only had 32 children.

I’m not getting the 70’s 80’s mixed up…teachers strikes because of class sizes etc was the mid 80’s. All that I was pointing out is that buying a house on one person’s salary back then was common because it was a time when women were forced to give up work when they got married.

I know quite well what ESG is. My reservations come from my own belief that the people who are in charge (at least in the West) are not acting in the best interests of the people over whom they govern. I'm fully aware that I may be wrong, but after the last few years, I for one simply do not trust the state or global financial system.

Also, how can you be so sure that the policies that ESG espouses are indeed beneficial? All that I see in the West is an increasing costs, declining standards of living and society that is fragmenting.

I could be wrong, of course...

Conspiracy theory Forum is below this one. This is a final warning on this, there have been others on this thread before.

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grocery price inflation in UK running at about 16.5% - 17.2% according to Sky News are we any better here?

many house holds here now coming under pressure again with cessation of energy credits while still no sign of price cuts from providers

as one previous poster mentionned the real pain has yet to come when many short term fix rate mortgage terms expire and tens of thousands of mortgage holders brace themselves when they find they are on much higher rates costing hundreds extra every month