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

Says more about our education system than our property market! Always amazed by how many people haven’t a clue about this kinda stuff.

The statistic of 15% is also completely misleading as most people do their tax return after the year end. The amount to claim it in 2024 is tracking ahead of previous years.

Also don’t understand what SF are getting at here. It’s been remarkably well publicised and is very simple to claim (I’ve done it). At what point is it just up to people to take personal responsibility for claiming it?

Asking prices being "arbitrary" is one of the stupidest arguments I have heard.

I wonder do the banks who are lending out mortgages based on this "arbitrary" number think the same?

In your worldview, the end justifies the means. The EA works for the seller so is more than right to use immoral, unethical and dare I say illegal means to move the needle in order to achieve a higher price for a client.

Understand, but am aware of several incidents where landlord is not cooperating with the process

40% did not claim for last year and as I understand it, you claim for 2 years last year as it was for the year the budget measure was announced plus the following year

People are just lazy. The amount of people I know who dont even bother claiming back tax on medical expenses. Its almost like filling in a form is difficult. Id say none of them have bothered filling in the form for their rent tax relief either.

I agree I think supply is gone down last few weeks

The 400k the good Eoin refers to includes HAP and LA tenants neither of which can apply for the credit.

I doubt if that many tenants are paying cash. None that want to get a mortgage are anyway. All my children have rented at some stage. None ever paid cash. I have two tenancies one is HAP and the balance is paid in cash there request. It allows me stick my head inside the door once a month. But it all get declared as everything is on the RTB

It started to trend up a while back, but is on the way back down now.

6 Feb:2,633 Properties for Sale in Dublin (County)

June 1: 3,208 Properties for Sale in Dublin (County)

Today: 3,076 Properties for Sale in Dublin (County)

I can't post links, but if you go to the Wayback Machine and put in the link for houses for sale in Dublin [daft.ie plus the following: /property-for-sale/dublin] you can see snapshots for different days. It's random enough and not an exact science obviously but it gives you an idea.

I think we all need to understand just how much money has been created in recent years. Have a look at this:

https://www.investopedia.com/us-national-debt-by-year-7499291

It's for the USA, but it serves as an example of what's happening all over the world. The US debt reached around 17 trillion (that's 17,000,000,000,000) in 2014. It took hundreds of years to get that high, but only ten years later, it has nearly doubled to stand at 33.1 trillion. Ten trillion alone was added from 2020 onwards.

As I've said before, these numbers are kind of arbitrary. What in nature is counted in the trillions? It's almost a meaningless number, given that it's so large. The summary of it is that there is a hell of a lot of currency floating around, and we live on a finite planet.

A new batch of houses have been released in the Balmoston development in Donabate.

2 bed terraces starting from €420k with the 3 beds starting at €495k. The 3 beds are over the First Home Scheme limit of €475k.

Unless something has changed since I last claimed expenses people can only claim back at the basic 20% rate. Hardly surprised a lot don't bother as the credit is small compared to actual expenses.

I mean if it was a high spec, turnkey, 2bed terrace in Ranelagh or Donnybrook it wouldn't be too bad. The Donabate part is the problematic bit.

It's debt, but I don't think that it's meaningless. It illustrates just why the prices of so many things have gone up. It's not that things are inherently more valuable; there's just more money available.

It's the last bit that's the worrying bit.

I'd argue that this is already happening. No one with any sense is holding a large amount of cash for any length of time because they know inflation is eating the value.

Personally speaking, I'd be happy to paid in silver coins….or MTG cards

my point is that a large majority of that debt relates to the grossing out of the balance sheet due to QE and this portion is meaningless (I.e gov owes itself this debt)

Technically all QE is a maturity swap from long term cash to short term cash which results in the equivalent of a interest rate cut and stimulates the economy…..overstimulate and you have inflation under stimulate and you have a recession.

The only extra cash that makes its way into the real economy is what was spent by way of fiscal spending whether it be investment in infrastructure etc or stimulus cheques. I’m not saying this aspect is meaningless but the numbers are a lot smaller and not as sensational.