Bought apartment 12 months ago - value is still the same

It's blatantly obvious that property is no longer a good speculative investment and prices, as a result, will stagnate initially (look like a soft landing) and then very likely fall.

The fear of being left behind on the property pyramid gets replaced by the fear of being the last sucker in.

The time is at last arriving for the property owning classes to re-evaluate their perceived wealth position and rejoin the real world from the current debt-fueled fantasy.

There'll be a big welcome back from many of us waiting patiently for you and house prices to return to fairer values. ;-)
 


Well...you've won me over with your wealth of knowledge/rhetoric on the subject.
 
Gabriel said:
Well...you've won me over with your wealth of knowledge/rhetoric on the subject.
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sarcasm from a defender of the bubble - no surprise there !

You're probably beyond rescue but sure if we can prevent at least a few youngsters avoid the biggest mistake of their life by buying at the top of the market then I'll settle for that !
 
Unregistered said:
maybe now people will be able to move out of their ma's gaf at a half decent age (probably about 22, 23 I'd say?).

It's not right sleeping in the sitting room floor on a blow up mattress on a Saturday night.
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Missed this post yesterday.

What on earth is going on here?

Do you get the impression that this is the voice of bitter (albeit bizarre) experience?
 
Unregistered said:
sarcasm from a defender of the bubble - no surprise there !

You're probably beyond rescue but sure if we can prevent at least a few youngsters avoid the biggest mistake of their life by buying at the top of the market then I'll settle for that !
Click to expand...

Why not register yourself unregistered...so that we can discuss this at length in a years time...two years time...five years time etc.

I defend no bubbles. I don't believe there is one, or that it's going to burst. Bar your rhetoric on the subject I see no compelling evidence on your part that prices are about to plummet.
Present the evidence in a clear unambiguous form. Links to articles are not evidence.
 
Gabriel said:
Present the evidence in a clear unambiguous form. Links to articles are not evidence.
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I'm am the Archangel of the Bubble and I shall define what evidence is - just in case !
 
I got 4 on the bubble game. It's harder than it looks. Anyone else done better?
 
Since I put the deposit down on a house I have heard loads of stories from my parents, older neighbours, aunties, uncles etc, all telling me about when they bought their houses, which would mainly have been the early seventies, all of them with tales of woe along the lines of:

"things where tight then... there'd be no one moving into a fully furnished house. aw no, it took years and years to get all your bits and pieces"

"we were lucky to get a mortgage and when we got it it took more than half of your fathers wages, and me trying to rear two childen"

etc, etc.

I am certain that a lot of things have defintely changed for the worse in this country but I got to thinking that maybe the bottom line for 1st time buyers hasn't: if you want your own place then you'll have to pay THE PRICE, which is unfair and'll stretch you to the bloody limit.

Anyway, I hope you're comfortable there in the real world, because you could end up
Unregistered said:
waiting patiently ... ;-)
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for a long time.
 
Re the post just before me...

My father struggled hard to buy his first house. He had to work three jobs for it. I heard the same tales of woe from him. When I was buying my place he said exactly the same thing. Nothing has changed since the 60's and now. It was tough then and it's tough now. That's not magically going to change I don't think, despite what the 'bubble' crowd might want to believe.
 
To the orginal poster, as long as you like the apartment & the area it is in and can afford to pay your mortgage when interest rates go up, then you should be able to ride out any price moves.

Personally I think Irish property prices are over valued, especially compared to what you can get in the UK and Australia for the same price.
 
I also got 5 bubbles. It's very addictive altogether...
 
To Gabriel who enquired about price declines in Ireland, the reference is:

Goldman Sachs, Global Economics Weekly, APril 30th, 2003, pg7
(sorry dont have web link)
The report claims 1979-86 real house prices in Ireland fell 26.2%. Report outlines all the major property 'busts' in major OECD countries.
 
Just one point to make...

sentiment is changing...
 
Just speculating here (nothing wrong with speculation, right?) but with all the big money sloshing around in the property business it must be hard being a low-paid (or otherwise) academic and not be influenced in one way or another by this.

Wasn't there a time when "big tobacco" had research papers published to show the benefits of smoking ? They were really impressive too with statistics, equations and conclusions and what not.
 



I'm aware of the new guideline regarding just putting links in as replies but I hope that this link will be viewed in the light that it's intended. I came across this by chance and haven't even read all of it...but it represents a much rounder and fairer assessment of the present housing situation than I've heard here so far.

One of the points it makes in relation to house prices in the '90's is that they were extremely undervalued. It also talks about bubbles but doesn't seem biased about it so makes for interesting reading.

The article is entitled..."Are House Prices determind by Fundamentals".

Read on...
[broken link removed]
 
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