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Pushed out of the market

Marchbride · 2014-02-27 22:37:14

Makes for interesting reading. This is what I was trying to say yest in another post. Middle class are being priced out of market in certain parts of Dublin. http://www.independent.ie/business/personal-finance/property-mortgages/no-homes-for-middle-earners-in-capital-city-30033844.html

Comments

#202 19-03-2014 7:45pm

The_Conductor

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MouseTail wrote: »

I'm not, but I also recall that as being a closed low skilled economy, low wages, women absent from the workforce, poor progression to third level education. I dont think you can compare our socio economy, and therefore house price drivers, now to anytime pre mid 90s. Its a different country.

Apple opened in Cork in 1980.
Hewlett Packard opened here in 1982.
Intel opened in Leixlip in 1989.
Dell opened in Limerick in 1991.

Looking at the pharmaceutical sector- 9 of the top 10 global pharmaceutical companies have operations based in Ireland- with the first companies attracted here in 1974- 40 years ago.

In all of the above cases- a young and well educated workforce was cited as the reason for the above companies opening facilities and over time migrating research and development here. As we have developed and matured- so too have the industries attracted here- and even lower skilled computer manufacturing has progressed to higher skilled alternates.

We have had booms and busts previously- if you were to allow for inflation and price residential property and farm land from 1978 in today's terms- you'd be in for a shock......... Few people remember. Farmland and development land- had a massive boom in the 70s- before its inevitable bust- the whole lot comes in cycles, sometimes people remember the previous cycles, sometimes, they don't.

Suggesting we were an insular people working low skilled jobs before the 90s- doesn't do justice to the many thousands of very high skilled jobs we attracted here in the 70s and 80s- and glance through the CTT/IDA advertisements from the early 80s- showcasing how we sold ourselves to predominantly US inward investment- will elicit a wry smile from many of us oldtimers here..........

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