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"average Dublin house prices should fall to ‘the €300,000 mark" according to Many Lou McD.

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Comments

  • Registered Users, Registered Users 2 Posts: 31,320 ✭✭✭✭Wanderer78


    ...bingo, this has occurred in most advanced economies, resulting in pretty much the same problems in all countries that have gone down this train wreck, i.e. highly dysfunctional markets, hyper inflated prices and serious supply problems, shur im sure it ll all be fine....

    Post edited by Boards.ie: Mike on


  • Registered Users, Registered Users 2 Posts: 7,088 ✭✭✭Clo-Clo


    Maybe, but they went up in Ireland because people had jobs in Ireland and opportunities we never had before.

    Remember the rest of the World was the location for Irish to go and get work before Celtic Tiger

    Post edited by Boards.ie: Mike on


  • Registered Users, Registered Users 2 Posts: 31,320 ✭✭✭✭Wanderer78


    ...theres absolute proof of this not just here, but globally....

    ...one of the main give aways with this approach is the rapid rise in private debt, which is credit based, very evident from our previous boom.....

    Ireland Debt.jpg




  • Registered Users, Registered Users 2 Posts: 7,088 ✭✭✭Clo-Clo


    This is just nonsense because you made an error, just admit it and move on



  • Registered Users, Registered Users 2 Posts: 7,088 ✭✭✭Clo-Clo


    We are talking about Ireland, not globally. The reason house prices increased in Ireland was because people had jobs. The thread is about Ireland house prices, not the rest of the World



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  • Registered Users, Registered Users 2 Posts: 27,473 ✭✭✭✭GreeBo


    This makes no sense.

    So where do you think the people from Foxrock and Glasthule should live? I dont think you understand what a market is at all tbh.



  • Registered Users, Registered Users 2 Posts: 7,088 ✭✭✭Clo-Clo


    It's not only the market they don't understand. I have decided it is better to ignore.



  • Registered Users, Registered Users 2 Posts: 27,473 ✭✭✭✭GreeBo


    It has always been that not everyone can afford to live where they grew up or where they want to.

    In my family 2 of us live near where we grew up, another one is further away and the 4th is much further away.

    My parents were able to buy their house in whats currently a nice area, because they bought it new and it was built in an area that, at the time, was considered halfway up the Dublin mountains and was surrounded by sheep and fields.

    You cant compare how an area is viewed now to how it was back then. Knocklyon was the back of beyond, now its far more acceptable & attractive to live there. You wouldnt have had anyone living in Stepaside as its was fields literally up the side of a mountain.



  • Registered Users, Registered Users 2 Posts: 5,347 ✭✭✭BlueSkyDreams


    What have SF promised that isnt pie in the sky populist notions?



  • Registered Users, Registered Users 2 Posts: 3,344 ✭✭✭Blut2


    No, you're the one attempting to move the goal posts here. I'm very obviously, and simply, saying housing was much more affordable in the 1990s in Ireland than now, relative to incomes. And it was much, much easier for someone to buy a decent home than it is now.

    Given our home is the most expensive, and important, purchase most humans make in their lifetimes this is a huge drop in quality of life for Irish people. Our housing market is unquestionably much worse now for the average Irish person than it was in the mid 1990s.



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  • Registered Users, Registered Users 2 Posts: 31,320 ✭✭✭✭Wanderer78


    ...and once again, the main reason for our rapid rise in house prices has been the involvement of primarily the fire sectors(finance, insurance and real estate), this process is also called 'financialisation', under this process, the government is 'encouraged' (lobbyists!), to step back from providing critical needs such as, and in particular, housing, and to 'facilitate' these sectors, the so called 'experts', to do so, only problem is, the main aims of these sectors is in fact to extract as much as possible from these processes, and causing the rapid rise in the overall cost of such, this is also called 'rent seeking', or wealth extraction......



  • Registered Users, Registered Users 2 Posts: 7,088 ✭✭✭Clo-Clo


    People got 100% mortgages. Which was a bad idea and was well into the Celtic Tiger at that stage. No need to exaggerate with the 110%

    Post edited by Boards.ie: Mike on


  • Registered Users, Registered Users 2 Posts: 361 ✭✭Cheddar Bob


    I think it's unfortunate that housing that was built by the state from the 40s to the 80s in what would become Ireland's most exclusive locale is now being colonised by people who have the wealth to live elsewhere.


    DLR was mostly wealthy by the 70s/ 80s. The government of the day recognised the people whose families were there for generations needed a place to live, and so built thousands of homes in Ballybrack and Shankill and rented them at affordable rates.


    The government of today believes the workers who grew up in these areas by and large should feck off out of the place.


    I think a fair balance would be for the state to build thousands more genuinely affordable homes in this area.


    Your solution seems to be to let them live in Gorey.



  • Registered Users, Registered Users 2 Posts: 7,088 ✭✭✭Clo-Clo


    Honestly I seen you try post this stuff on a lot of thread, talking down to everyone. Ireland house prices suddenly jumped because the people who would normally emigrate now had the option to stay in Ireland and work, after decades of these people leaving the demand for houses increased and with that the prices. Also as I worked in the construction industry then the rates for builders shot up because of the lack of construction staff.

    I do remember when Gateway shut they had interviews and two lads who had been let go planned on going onto the building sites and working.



  • Registered Users, Registered Users 2 Posts: 7,088 ✭✭✭Clo-Clo


    Of course you are not, some lad down the pub told me he got a 200% mortgage, sure while we are making up stories we might as well go all out :-)

    The 100% mortgage was a terrible idea but about all we could have expected from a terrible regulator at the time

    Post edited by Boards.ie: Mike on


  • Registered Users, Registered Users 2 Posts: 1,578 ✭✭✭thereiver


    House prices are high because the economy is booming and there's a shortage of houses for sale Most people would prefer to buy a house rather than a small apartment it's come to a point where only middle class people will be able to buy a house in Dublin it's market forces theres more jobs going than there are people to apply for them

    Most houses in council estates are owned by the person living there



  • Registered Users, Registered Users 2 Posts: 7,088 ✭✭✭Clo-Clo


    We will end up in the same situation we had with the landlord post when you said they pay no tax and then admitted over 75% of LL do.

    What is the "average Irish person"?



  • Registered Users, Registered Users 2 Posts: 31,320 ✭✭✭✭Wanderer78


    ...and again, my opinions didnt just fall out of the sky here, as they actually come from very credible sources, including academic sources, one of which knew there was a serious credit crisis on the way prior to 08, due to all of this, they are still being largely ignored, and surprise surprise, we re now back in another credit fueled asset bubble, possibly more serious than prior to 08, and this now effects other, non property asset markets!

    ...and surprise surprise, lets default to neoclassical thinking again, i.e. demand driven, this is simply wrong, its again, primarily credit driven!



  • Registered Users, Registered Users 2 Posts: 361 ✭✭Cheddar Bob


    I've posted a list of links on the last page showing just how many mid 250s homes were going.


    As for Hollywoodrath, you'd want to be sectioned if you are willing to pay top top dollar for an estate where a minimum of 15% of the homes will be sold to the council, and likely plenty more become council homes via long lease and HAP and what have you. I remember the video of the Nkenchos kicking off when a guard had the audacity to pull them over for a traffic offense. Imagine paying that much to live beside those lot. Not to mention how far it is from a pub.


    Aesthetically speaking most new houses are an absolute mostrosity now anyway.



  • Registered Users, Registered Users 2 Posts: 361 ✭✭Cheddar Bob


    This debate is increasingly ridicilious- you have absolutely no idea whether houses were sold to family members. It's like that other mouth claiming only Corduff natives were buying there without an iota of proof to back it up.

    A young couple looking to buy a bog standard 70s/80s build 3 bed semi home for around the 250 mark were spoiled for choice in D15 before Covid hit. That is borne out in the PPP prices.


    Things that can add a bonus to a house price in the area- walking proximity to the trains, home built in 2000s, home particularly well kitted out inside, en suite. And lest we forget the loons who care about nonsense like BER ratings.



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  • Registered Users, Registered Users 2 Posts: 7,088 ✭✭✭Clo-Clo


    Post edited by Boards.ie: Mike on


  • Posts: 3,330 ✭✭✭ [Deleted User]


    40 years ago GPs weren't competing for houses against the huge number of people working in tech roles on 6 figures salaries. Then throw in the tech staff share based pay, which gives them another chunk to add into their purchasing power.



  • Registered Users, Registered Users 2 Posts: 7,088 ✭✭✭Clo-Clo


    No it doesn't. But you know that already

    Prices price will reduce, they are peak. They won't reduce to the stupid level Mary Lou pulled out of her nowhere. That's what the person in article says without making a reference to Mary Lou of course.

    Post edited by Boards.ie: Mike on


  • Registered Users, Registered Users 2 Posts: 7,712 ✭✭✭Bluefoam


    If they want older people to downsize and vacate their larger houses, how does reducing the value of their home make that enticing?

    Even taking into account the reduced cost of a smaller house, they would get less out of the deal...

    I've looked into this for people... To move into a smaller house in the area they've lived all their lives, with a garden and all of the comforts they want to enjoy in their progressing years... Cost of moving, new furniture,fittings and decorating... Paying solicitors, stamp duty etc. it doesn't leave you with as much as you'd hope... So why give up the home you've worked so hard for...

    There has to be a plan to make it more viable for people to downsize...



  • Registered Users, Registered Users 2 Posts: 31,111 ✭✭✭✭blanch152


    It has always been the way, for centuries now, that people could not buy a house beside where they grew up, because people already live in those houses!! Every Dubliner once lived inside the city walls.



  • Registered Users, Registered Users 2 Posts: 31,111 ✭✭✭✭blanch152


    Yes, they were. 30 years ago was 1993, and plenty of people were leaving Ireland then.



  • Registered Users, Registered Users 2 Posts: 3,344 ✭✭✭Blut2


    Do you just completely not understand the role the ratio of income to house prices plays? Going from a ratio of just over 2, to almost 5, in three decades is catastrophic. Thats not normal historical housing trends, its a very clear sign of a dysfunctional housing market.

    And you're completely factually incorrect as usual. In 1993 35,100 people emmigrated from Ireland, and 34,700 immigrated to Ireland. The net migration figure was minus 400. Not four hundred thousand, 400 people. In 1992 it was a net migration figure of plus 7400. "Plenty of people" were actually moving to Ireland.



  • Posts: 577 ✭✭✭ Cali Screeching Prince


    They need to bring in house price increase limits linked to inflation, the same they have for rents. That would cool down the market.



  • Registered Users, Registered Users 2 Posts: 17,502 ✭✭✭✭astrofool


    So prices could never drop then? Have you thought this through?

    Post edited by Boards.ie: Mike on


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  • Registered Users, Registered Users 2 Posts: 5,738 ✭✭✭Buddy Bubs


    With the incentives Ireland offers to multinationals, particularly in pharma and IT, we are attracting lots of highly paid inward migration and also paying qualified Irish people high wages.

    As long as this is happening, house prices stay high. Building more houses will attract more people to come.

    All the building policies, help to buy schemes (which is widely accepted are counter productive to prices dropping), asking older people to vacate their properties for smaller ones etc are just pissing against the wind really.

    It's going to take a massive negative economic shock to drop house prices, the last shock actually increased prices significantly.

    Ireland grew too quickly and housing never kept up and we are a huge number of years from catching up. There's no masterplan at all. So it's not going to happen. Just soundbites from Mary Lou and other career politicians.

    The latest I read was a campaign to get Irish tradespeople home. I'd be interested in seeing what the angle is here, what is on offer. How many? We must need thousands. But they too will need somewhere to live. And they will need to be offered big wages. And those 2 things alone will drive prices up further.

    We are in a hole of our own making. I own a house so I'm happy, it's worth twice what I paid for it in 2011. It's a fine house, it suits me and my circumstances .I have big equity. I have thought about moving a few times but to move within Dublin is more expensive than it has ever been for me, even with the equity I have built up, or has been built up for me I suppose, I didn't do much to earn it.

    But just as I have done little to earn it, the same forces have made Dubliners unable to buy a house, or even rent one in reasonable shape at reasonable cost. These forces are still very much at play, and accelerating.



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