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Why is Ireland still so expensive to live in?

davet82

Ireland is the fifth most expensive country in the EU, with consumers paying 17 per cent more than the EU average, a new Central Statistics Office report has found.

Since we were ranked the second most expensive country to live in, in 2008, should prices not be coming down faster now the country is broke?

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petersburg2002

dvpower wrote: »

That's probably about right according to this.

We had the second lowest inflation in the EU at the start of the year according to the CSO.

Let's hope it stays that way. Might even be able to get that 50" Plasma TV is prices keep going in the right direction!

seamus

petersburg2002 wrote: »

Let's hope it stays that way. Might even be able to get that 50" Plasma TV is prices keep going in the right direction!

I wouldn't hold out too much hope. Luxury imported goods tend to be fairly static, inflation generally linked to staples like milk, bread and alcohol.

If anything, low inflation for us is more like the 80s and people will be trying to eek 3 or 4 years out of that iPhone rather than a new upgrade every year

tayto lover

seamus wrote: »

What party, what are you talking about? Are you so completely blinded by your prejudice that you need to stick people into little boxes?

How about you present some links to counter what I've said instead of bleating on about "de ordinairy wurkers" and "dem der rich feckers wot did ruin are cuntry"?

1. Cronyism worse than under F.F.
2. More paid to advisers and even breaking their own pay scales.
3. New quangos since election.
4. Seanad still in existence.
5. Five point plan ???
6. Your party's rich pals paying fcuk all still in taxes.
Need I go on.

Meanwhile the same people being taxed to the hilt and expected to pay even more for the pleasures of your lot.
You still wearing the blinkers and being led by the ears while still voting like daddy did.

seamus

tayto lover wrote: »

1. Cronyism worse than under F.F.
2. More paid to advisers and even breaking their own pay scales.
3. New quangos since election.
4. Seanad still in existence.
5. Five point plan ???
6. Your party's rich pals paying fcuk all still in taxes.
Need I go on.

Meanwhile the same people being taxed to the hilt and expected to pay even more for the pleasures of your lot.
You still wearing the blinkers and being led by the ears while still voting like daddy did.

None of your post has anything whatsoever to do with this thread. I don't have any allegiance to any particular party.
My Dad was a FF man through and through btw, since his father was secretary to one of the early FF Taoisigh. I've never voted for FF.

So take your own blinkers off and stop assuming that everyone who disagrees with you is instantly a lifetime blueshirt or a civil servant. It completely devalues all of your posts.

Any road, on topic, I had a look at the topic of personal debt, and personal debt is actually declining at a relatively fast rate in this country. This is largely down to two main factors:

- Banks aren't lending, despite the political claims that they are
- People are going without rather than borrowing.

But people are mortgaged to the hilt, how is personal debt dropping? Simply, because a mortgage is always a debt the underpinning asset's value is irrelevant when calculating personal debt. So that €300k mortgage taken out 3 years ago, is still a €300k mortgage. That the person is in negative equity is irrelevant, their actual level of debt hasn't changed.

Total personal wealth is still dropping, because this is a measure of how much cash someone would have if you liquidised their assets tomorrow. But despite our previous notions about the value of land, we know that there is little relation between personal wealth and fiscal solvency. I, for example, have a personal wealth that's well into the six figures (negatively). But I still have disposable income.
Another man could be sitting on €100k of personal wealth, but be living hand-to-mouth.
So ignore personal wealth (i.e. the value of people's homes) when determining if someone is in OK shape, financially.

What this country will be facing in the future is a situation where we have a cash-poor government and a cash-rich population. Rather odd scenario, but even at that stage you can't drain people for what they're worth or they'll move their money away. You have to encourage them to spend their money and the state then creams off the top in taxes.

Fizman

seamus wrote: »

Any road, on topic, I had a look at the topic of personal debt, and personal debt is actually declining at a relatively fast rate in this country. This is largely down to two main factors:

- Banks aren't lending, despite the political claims that they are
- People are going without rather than borrowing.

Not entirely true re banks not lending. I recently (2 months ago) got a loan approved, and a mate of mine has gotten another approved in the last few days. Granted, the process involved a lot of detailed questions regarding what it will be used for.

Maybe the amounts have dropped considerably and the criteria to become a borrower is much stricter, but there is money still to be had in cases.

B.A._Baracus

I think greed is the number 1 reason why this place is so expensive.
Like sure if we go back to the celtic tiger days people had money to spend, jobs were there.... of course the price of goods and services were raised.

But theres no excuse now. How come things havent dropped to a reasonable and competitive rate since recession? Its greed. Wanting to still get that "boom price" for things.

Sure the average strategy by businesses has been to rise prices since recession. God forbid an business could lower its prices and potentially make more money through increased consumers.

davet82

B.A._Baracus wrote: »

Sure the average strategy by businesses has been to rise prices since recession. God forbid an business could lower its prices and potentially make more money through increased consumers.

Thats what i always think!

The VAT rate for example would it not have been better to lower it and increase spending than to higher it and murder cofindence?

BraziliaNZ

How anyone could have any allegience to any party in Ireland is beyond me, after the way they've managed the place. Anyway, it seems to me that in Ireland, when business is bad, they sack people and put prices UP to compensate for lack of business, instead of reducing costs and making things more competitive. E.g. pubs.

Larbre34

A lot of digressing going on!

Ireland isn't expensive to live in, at least relatively. Goods are more expensive than in other countries, but wages and welfare rates in Ireland are still much higher than the comparison states, even allowing for the correction since the downturn, so affordability is reasonable. If someone on the average salary in Spain or Greece came to live here on that same salary they would not be able to do it - so we are perceived as very expensive

We complain about cherry picked arguments where we are being ripped off like prescription medicines in Spain or cars being cheaper in Britain and so on, but food and clothing here is cheaper than other countries (albeit still a big cost) and our motor fuel is much cheaper than Ive seen in continental countries in the last month as it has increased everywhere in the last 6 years, and our housing costs are lower - buying a home is still a common aspiration, it wouldnt even be contemplated as affordable in many countries.

The whole world is economically in the toilet so we naturally bemoan the financial pressures on us, but if you live and work or get welfare benefits here I would argue you are still getting a better standard of living than many other countries that we are compared to.

books4sale

petersburg2002 wrote: »

Food is still crazily expensive though.

...and what? You don't think it costs energy and fuel to produce food :rolleyes:

Allied with this seasonal food stocks are getting wiped out around the planet with the progression of climate change, yes global warming is a fact!

Look at the level of destruction caused in Amercia this Summer due to drought and this where the media concentrated all their efforts. The same problems faced Europe and Asia.

On a smaller scale, Ireland had one of the wettest Summers on record, only in the dying hours could it be said that farmers were able to harvest the crop.

As climate change worsens, expect food to become more expensive while more and more taxes are ploughed into combating its effects with new technology.

Its a vicious cycle!