Irish Property Market 2020 Part 2

Smiley11 wrote: »

I don't need to make money for free NG. My husband & I work really hard & are very fortunate to have made profits on properties & we save a lot. I don't feel the need to tell anybody about what we do for us. Its not a competition, its life. We have a "big bag of cash" in the bank but that doesn't mean we're better than anyone else. In fact, I would say that there are many people with a lot less money in the bank than us who are infinitely happier.

We work hard, we save hard, we have a very happy family but the fact is that we don't have a family home at the moment & are living between our parents homes in different counties. All we want is to live in our forever family home & we just can't get one in the current climate.

I've been following this thread for months & can only envisage some contributors as banging their chests & roaring with delight as they submit their latest "property market is goosed" post but its not...property is booming & a few lackadaisical posts that don't disprove that fact aren't going to change anything. Few unnecessarily bruised chests is all it will achieve.

Smiley11 wrote: »

Why would we rent? Did you not say at some point that your son is saving for a house & living with you in the interim? We have wonderful parents who are happy to accomodate us & we have no issues other than wanting to live in our own home together. Are we very different to your son? Have a look at Cork rentals on Daft...we'd be lucky to get somewhere suitable for €1500 a month. I'll bank that amount thanks to our parents as you know yourself ��

Augeo wrote: »

They are looking in montenotte & St Luke's and obviously have strict criteria.

Balluba wrote: »

Not renting a house in the interim for your family to be together must have been a difficult decision to make.Living as a divided family must be very stressful and you will not be able to buy back that time together. Hope you get settled into a new home before Christmas

Smiley11 wrote: »

Have to agree. We had to walk from a bidding war recently & I think it'll take me a while to get over how frenzied it was. I certainly won't be bidding again any time soon! The house was amazing but I'd give a laymans estimate of having to put a minimum of 150k into it to make it what we wanted. I was told last week a friend of a friend had been quoted nearly 220k to renovate it!

We were at 550k & while it still wasn't at its inflated asking price, my husband just asked if I actually wanted to pay that much for a house in that condition &, as much as I adored it, my heart said no. Couldn't justify that spend & even though it will always be the one that got away, I can't see us regretting our decision.

People seem desperate & I can't be a part of this current market so we'll bow out for a few months. The truth is that not one of us on this forum know what way the property market will pan out over the next couple of years. Personally, if the right house comes up when this current frenzy calms, we'll be buying. The value of our home doesn't matter to us as we'll never be moving again.

My uneducated opinion on the market is that it will drop, but not by some of the crazy percentages floating around here! 10 to 15% I'd guess but it will take some time for it to happen. I'm a buyer with no chain so its in my interest for the market to bottom out but I can't see it happening. But again, none of us know.

enricoh wrote: »

If sinn fein are flying in the polls I'd expect the government to keep shoveling money at the foreva home brigade, extend eviction ban etc etc .
The big bad landlord might be in the crosshairs for raising a few quid off also! I doubt their would be any objections from the opposition!

Taylor365 wrote: »

One that's free! :pac:

Pelezico wrote: »

Ah yes...the dream home some people here talk about. I wonder what that is...the dream home.

MacronvFrugals wrote: »

Its very very relevant, although here even macro economics isnt relevant, the housing market exists in a vaccum devoid of any other externalities some would have you believe.

18-34s are solely voting Sinn Fein en masse because of the housing market, its something a few of us here predicted, this poll provides some proof to that prediction.

Assetbacked wrote: »

The 34 year olds will be 38 by the time the next election comes around. It would then be 18-38 year olds looking at SF as their main choice so it is an ever-growing voting demographic. This is, as you say, predominantly down to the housing (rental) crisis and the last 7 years of hyper economic growth. There is a disregard for SF by certain people to do with their past, likely to be of a particular age, but then at the same time a lack of appreciation for the two pronged shafting of the younger generation since '08 via (1) punitive taxes and (2) punitive housing costs. The punitive taxes pay a debt they had no hand in creating as well as paying a swollen pension bill and the punitive housing costs prop up the value of the homes owned by the older generation. I completely understand why they would vote for SF when FF and FG had a hand in (1) and (2).

But the fear of SF seems to be so irrational as they are a centre-left party, not even extreme in policies. This irrational fear, should it seem likely SF will get into the next government, could manifest in a way which impacts the housing market, for example, spooking institutional investors which could mean they offload their BTLs onto individual buyers and stop building; by creating panic among home-owners who try to dump their property for fear of the housing market collapsing and the value of their home collapsing. This is why the opinion polls with SF performing so strongly are of relevance to the housing market.