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The housing bubble has burst

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Comments

  • #252
    is_that_so
    Registered Users, Registered Users 2 Posts: 32,136 ✭✭✭✭is_that_so


    It may be the case that the SSIA far from causing massive inflation could be used sensibly - ie to support mortgages and other debts. In general with housing crashes , unemployment needs to have an input- that and a massive dose of consuemer depression. We are at "full employment". From what I have heard lately new house purchasing is 35% investor-driven Five Seven Live 060606.
    I can't see a crash TBH. I can see common sense and certainly if the "cap" on mortgages does come about, prices will ease unless the ECB goes for 1% plus.


  • #253
    chump
    Closed Accounts Posts: 3,807 ✭✭✭chump


    is_that_so wrote:
    It may be the case that the SSIA far from causing massive inflation could be used sensibly - ie to support mortgages and other debts. In general with housing crashes , unemployment needs to have an input- that and a massive dose of consuemer depression. We are at "full employment". From what I have heard lately new house purchasing is 35% investor-driven Five Seven Live 060606.
    I can't see a crash TBH. I can see common sense and certainly if the "cap" on mortgages does come about, prices will ease unless the ECB goes for 1% plus.

    I can't see the SSIA's being used sensibly at all.
    I don't think a lot of people have realised yet that rates are going to keep rising and that prices can level off. Speaking to people the other day, relatively intelligent, and they will not have any of the talk that house prices might fall. Sure apparently on the radio on the morning of the interest rate rise there were queues of people coming on advising that NOW was the time to buy. Some people cannot see house prices falling, ever... (but of course they might be neglecting the reality that is inflation)


  • #254
    whizzbang
    Registered Users, Registered Users 2 Posts: 1,366 ✭✭✭whizzbang


    is_that_so wrote:
    It may be the case that the SSIA far from causing massive inflation could be used sensibly - ie to support mortgages and other debts. In general with housing crashes , unemployment needs to have an input- that and a massive dose of consuemer depression. .

    it will be interesting to see how the SSIS'a are spent. I'm hoping a lot of it goes on paying off debt but the media seem to be portraying it as one big party so I guess quite a few will get swept up in that.

    As for housing crashes yes unemployment has been a factor in lots of them. That being said so much of our employment is based on the construction sector that a small interest rate hike could see prices leveling off. This could see developers easing back their plans, which could see them laying off builders, which causes higher unemployment, which causes houses to go down, which causes developers to scale back plans which causes them to lay off builders which... see where I'm going here?

    The fact is that house prices will only go up so long as banks are willing to take on more risk. When they decide to turn off the credit tap (which they will with increasing rates) it is very likley that prices will stagnate and then drop as investor get out of the market.


  • #255
    mistermarketing
    Closed Accounts Posts: 42 ✭mistermarketing


    bump


  • #256
    Axwell
    Moderators, Computer Games Moderators Posts: 10,462 Mod ✭✭✭✭Axwell


    mistermarketing wrote: »
    bump

    Why exactly did you do that if you have nothing to add?


  • #257
    mistermarketing
    Closed Accounts Posts: 42 ✭mistermarketing


    no i bumped it instead


  • #258
    Axwell
    Moderators, Computer Games Moderators Posts: 10,462 Mod ✭✭✭✭Axwell


    Im aware of what you did but to the best of my knowledge pointless bumping of threads isnt something the mods like..


  • #259
    DubTony
    Registered Users, Registered Users 2 Posts: 3,267 ✭✭✭DubTony


    mistermarketing wrote: »
    bump

    WTF? You looking for an award? Or a ban?


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