Hi Firefly,
I think modern investors are moving from yields to capital appreciation and there's lots of evidence abroad to support that. Lots of people I know are happy to subsidise a rental property, but not forever, they are paying their, albeit low, yield off the mortgage in order to bring it down in case of interest rate hikes. None, that I know anyway, are preparing to sell.
As to people being greedy, I've heard this being bandied about on another thread, but in reality, everyone would like to get ahead. Those who put in extra work, for extra pay, in order to make life easier for themselves and their families are not called greedy. Most people want to have a better life and the enterprising try to find a way to achieve it.
The property market in Ireland has been bouyant for a long time now. If people who were able to avail of low interest rates to purchase, handed to them on a plate, so to speak, and yet did not take the opportunity.....would some people call them stupid for not doing so?
No, by and large, I don't think people are too greedy. I think the ordinary joe soap is sick of seeing those with money doing even better simply because they can! In Ireland, Joe Soap wanted a slice of the pie and took it. That's not greed, it's enterprise.