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The Celtic Tiger is beginning to roar.....says David McWilliams?

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    #122
    wretcheddomain
    Registered Users Posts: 3,094 ✭✭✭wretcheddomain


    Zubeneschamali wrote: »
    Jobsbridge etc. cost money, they don't generate 1 billion in unexpected tax revenue.

    Don't be sensible - it's not a tradeable currency in these quarters.


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    #123
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


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    #124
    diomed
    Closed Accounts Posts: 4,744 ✭✭✭diomed


    Fred Swanson wrote: »
    This post has been deleted.
    But if they don't buy now prices will escalate and they will never come down.


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    #125
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


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    #126
    Wompa1
    Registered Users Posts: 8,166 ✭✭✭Wompa1


    seamus wrote: »
    You're wrong I'm afraid. Many living expenses are at their lowest level in 3 years.
    http://www.cso.ie/en/releasesandpublications/er/cpi/consumerpriceindexjuly2014/#.VAbWbvldVss

    Clothing and footwear in particular is nearly half the price it was in 2006. Energy & fuel costs are cheaper than they were in 2011.

    In many ways the big essentials are easier to afford now - if you don't smoke, don't drink a lot, and don't take 3 hotel breaks a year, you're probably more comfortable now than you were this time last year.

    Moved away 2.5 years ago. Walked around some of the grocery stores this evening. It seemed like everything I would buy in a weekly shop has gone up. Also stopped into a Supermacs on the way back to Galway from Mayo today. A Snackbox is now 7.50? It was around 5 euro when I left. And every small village around Mayo now seems to have pay and display parking all over the place.

    Haven't looked at clothes other than in some of the Traditional Irish places in Westport, they were very expensive but I'd imagine that consumer price Index covers across the board. Dunnes and Pennys keep things pretty cheap, in fairness to them. Unfortunately after a few spins in the wash, they are worn out to ****e


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    #127
    Smidge
    Closed Accounts Posts: 5,541 ✭✭✭Smidge


    Zubeneschamali wrote: »
    Jobsbridge etc. cost money, they don't generate 1 billion in unexpected tax revenue.

    No..but taking into account revenue from drugs and prostitution does.


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    #128
    Smidge
    Closed Accounts Posts: 5,541 ✭✭✭Smidge


    Wompa1 wrote: »
    Moved away 2.5 years ago. Walked around some of the grocery stores this evening. It seemed like everything I would buy in a weekly shop has gone up. Also stopped into a Supermacs on the way back to Galway from Mayo today. A Snackbox is now 7.50? It was around 5 euro when I left. And every small village around Mayo now seems to have pay and display parking all over the place.

    Haven't looked at clothes other than in some of the Traditional Irish places in Westport, they were very expensive but I'd imagine that consumer price Index covers across the board. Dunnes and Pennys keep things pretty cheap, in fairness to them. Unfortunately after a few spins in the wash, they are worn out to ****e

    What I find interesting is when these price/cost index come out is that anyone who has to very, very carefully watch their budget knows they are complete bunk.
    I know for a fact, because its MY money that things have NOT decreased in price.
    Everything has increased in cost.


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    #129
    Packrat
    Registered Users Posts: 1,143 ✭✭✭Packrat


    krudler wrote: »
    "Dublin airport is jammed again" yeah with young people leaving the country.

    Utter bullsh1t.

    Go stand in the arrivals hall and watch how many Irish are returning every morning or afternoon.

    We had net emigration of about 30k last year. That is not enormous given the vicious recession this country has been through. We have growth rates which are the envy of Europe.

    If some of ttyhe poor dears currently emigrating had studied something relevant to ANY economy, not just ours, they wouldn't be working in bars in Sydney with their fcuking degree in some bullsh1t like sociology or womens studies that we all paid for them to do rolled up under the couch at home.

    Christ, - its as bad as the "but there are 27 people for every job" lies and bullcrap which was spouted here all last year.

    “The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command”



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    #130
    TheBegotten
    Registered Users Posts: 541 ✭✭✭TheBegotten


    It's kind of sad to read the state of the country in these threads. Gombeenism on a national scale almost seems to be an entitlement by now, with talk of tax cuts and public sector votes in the run up to the next election. Everyone is looking to make easy money. No one cares that a Tiger economy is unstable. I used to blame Fianna Fail for these things, but between Labour bending over backwards in government and Sinn Fein hopping on the bandwagon, I think it's more a societal problem. Whatever happened to integrity? Does no one care about the health of the country, as long as they make their money and have fun while the good times last?

    A new housing bubble is not what we need. Houses need to be affordable, inflation needs to be checked and the deficit needs to be reduced, if not eliminated altogether. I'm not advocating more austerity, but the recovery must be stable and based on real economics, not some half-nostalgic dream of a second tiger.


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    #131
    WilyCoyote
    Closed Accounts Posts: 3,059 ✭✭✭WilyCoyote


    Wompa1 wrote: »
    ........................................................................................................................................... Unfortunately after a few spins in the wash, they are worn out to ****e

    Afraid you're wrong there. Every man worth his salt knows that it's the dryer that does the damage.


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    #132
    Vandango
    Closed Accounts Posts: 604 ✭✭✭Vandango


    diomed wrote: »
    But if they don't buy now prices will escalate and they will never come down.

    Ah that familiar old scaremongering shyte.


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    #133
    Tazio
    Registered Users Posts: 698 ✭✭✭Tazio


    http://m.independent.ie/business/personal-finance/property-mortgages/firsttime-buyers-queue-for-five-days-in-bid-for-homes-30560868.html

    Haven't see this type of queuing in a while...


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    #134
    Ulysses Gaze
    Closed Accounts Posts: 7,570 ✭✭✭Ulysses Gaze


    Tazio wrote: »
    http://m.independent.ie/business/personal-finance/property-mortgages/firsttime-buyers-queue-for-five-days-in-bid-for-homes-30560868.html

    Haven't see this type of queuing in a while...

    Jesus. Will we never learn.....


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    #135
    OldNotWIse
    Closed Accounts Posts: 12,468 ✭✭✭✭OldNotWIse


    Queues for houses this morning. Is the madness starting?

    (flees country before it falls on it's face again)


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    #136
    Potatoeman
    Registered Users Posts: 4,237 ✭✭✭Potatoeman


    So after the last boom we were told a mortgage should be 3.5 times your salary and 1/4 o 1/3 of your partners. So by that if you are buying a 400k house you need to be on a 85k salary?


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    #137
    Hoop66
    Registered Users Posts: 2,299 ✭✭✭Hoop66


    Wompa1 wrote: »
    Walked around some of the grocery stores this evening....

    I wanna party with you, big guy.


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    #138
    seamus
    Registered Users Posts: 68,317 ✭✭✭✭seamus


    Wompa1 wrote: »
    Moved away 2.5 years ago. Walked around some of the grocery stores this evening. It seemed like everything I would buy in a weekly shop has gone up. Also stopped into a Supermacs on the way back to Galway from Mayo today. A Snackbox is now 7.50? It was around 5 euro when I left. And every small village around Mayo now seems to have pay and display parking all over the place.
    http://en.wikipedia.org/wiki/Rosy_retrospection
    Supermacs prices appear to have gone up, therefore everything has? That's not how statistics work.
    Likewise, the introduction of pay & display parking does not mean prices have gone up. The cost of free parking is still free.

    In 2004 it used to cost me €50 to fill the fridge, for myself, for a week. Now it costs €140 for myself, my wife and my daughter.

    That's pretty damn good value given ten years of inflation.


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    #139
    keeponhurling
    Registered Users Posts: 5,116 ✭✭✭keeponhurling


    Nicolas Cage wrote: »
    Me arse

    Last time I went to Dublin, last month, many hotels were fully booked out that weekend.

    I ended up staying in sandyford bewleys, out of town a bit, and the place was so packed it was almost like a zoo.

    That's my empirical evidence of Dublin hotels doing ok, though I wouldn't want to draw any deeper conclusions on it.

    It was a weekend in August too, I suppose


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    #140
    smash
    Closed Accounts Posts: 34,809 ✭✭✭✭smash


    OldNotWIse wrote: »
    Queues for houses this morning. Is the madness starting?

    (flees country before it falls on it's face again)
    In Swords of all places!


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    #141
    Zubeneschamali
    Registered Users Posts: 16,686 ✭✭✭✭Zubeneschamali


    Potatoeman wrote: »
    So after the last boom we were told a mortgage should be 3.5 times your salary and 1/4 o 1/3 of your partners. So by that if you are buying a 400k house you need to be on a 85k salary?

    Assuming a 20-30% deposit?

    A half assed websearch says:

    Individuals can usually borrow up to three times their gross annual salary. Couples can borrow either three times the higher salary plus one time the lower or two and a half times the total of their joint gross annual income. ... These are very rough figures as loans of up to 3.5 times income for individuals may be available depending on prevailing market conditions.

    So a single person queing for a 2 bed in Swords for 240K might be putting up a 60K deposit and borrowing 180K, so should be on 60K a year, or maybe 51K at the 3.5 level.

    A couple queing for a 400K detached 4 bed would be putting up 100k deposit, and borrowing 300K, so should be on a combined income of 120K, so 2x60K, or if one salary is a lot bigger than the other, they might be on 90/30K.

    But some of these folks might be bringing even bigger deposits. Until the latest figures, most purchases were cash, not mortgage at all.


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    #142
    Shiraz 4.99
    Site Banned Posts: 824 ✭✭✭Shiraz 4.99


    Potatoeman wrote: »
    So after the last boom we were told a mortgage should be 3.5 times your salary and 1/4 o 1/3 of your partners. So by that if you are buying a 400k house you need to be on a 85k salary?

    These ratios are the most important tool in controlling another boom.
    Buyers must understand that they are better off not being granted 8 times their salary.
    Sadly though the banks will come up with some incomprehensible disposable income matrix which will surprisingly get you that €400k loan for the 3 bed where coincidentally they have loaned the developer €12 million 2 years earlier.


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    #143
    TwoShedsJackson
    Closed Accounts Posts: 9,438 ✭✭✭TwoShedsJackson


    Ulysses Gaze wrote: »
    Jesus. Will we never learn.....

    6 people queuing for 60 houses, I think we're OK for the moment...


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    #144
    Cantona's Collars
    Registered Users Posts: 33,709 ✭✭✭✭Cantona's Collars


    Yup,it's creeping back,just saw an ad for a nightclub in Dublin - €25 a head for New Years Eve. Back to the days of paying €25 to be crammed into a place and fleeced at the bar.


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