Current public sentiment towards the housing market?

BigM said:

Sure there's nothing to worry about so - prices are merely "elevated"...
And anyway, does anyone take any notice of these pronouncements from the likes of IMF? Let's see how much coverage it gets...

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Good point - probably get the Bertie type response:
"Ah sure anyone dat listened to dem last year wudov lost out"

IMF, ECB, Irish Central Bank....they're always saying it

whathome said:

Good point - probably get the Bertie type response:
"Ah sure anyone dat listened to dem last year wudov lost out"

IMF, ECB, Irish Central Bank....they're always saying it

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Soon enough AAM will be added to that list

BigM said:

Sure there's nothing to worry about so - prices are merely "elevated"...

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Wouldn't do to be held responsible for starting a market collapse now would it?

BigM said:

But I suppose, what is it they say about one being born every minute?

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Yes, but what's even more worrying is that its alot more than 1 or 2. If I know at least 5-6 people who have/are doing it - how many people do you know have done it. Its probably the couple who didn't have any spare money a year or two ago and now seem to have the new car, back from the foreign holiday and they have done up the living room and bought the new TV and kitchen. Do you know any one these people and do you really think they paid "cash" for all of this - all in the space of say 6-12 months?

There used to be a saying "mortgaged up to their eyeballs" - I think alot of people are now re-mortgaged up to their eyeballs.

If there is a downturn (and I really wish it doesn't happen - because I like my current life) there is going to be some very sore people as marriages and family's WILL get broken up!

somerset said:

Who wants to set up a website for properties that have dropped in prices ? bet that would be popular and get things rolling a bit quicker

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who about www.DownTheyGo.com? its free

Some very light bed-time reading for industrious ThreadHeads,
...the 1999 Bacon II report.

http://www.environ.ie/DOEI/doeipub.nsf/0/3f3ff45854888bbb80256f0f003db97f/$FILE/Bacon2.pdf

"The primary impact towards price stability has been achieved through:

- Reducing investor demand for residential properties through the removal of deductibility of interest on borrowings undertaken for investment in
residential property, against rental income for personal income tax
purposes.

- Promoting liquidity in the second hand market by reforming the stamp duty regime, including extension of the new regime to purchases of new houses by non-owner occupiers."

Shame - Bacon II worked too well and had to be reversed!

whathome said:

Shame - Bacon II worked too well and had to be reversed!

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Yep,vested interests and all that !Couldn't be putting them out now could we .
I hope they'll all be patting themselves on the back at the ryder Cup, in the knowledge that they've wrecked this country in the medium term.

I spoke to a friend of mine about the market and he reckons if it does crash there is always "safety in numbers" he didnt seem a bit bothered? anyone subscribe to this view?

I spoke to a friend of mine about the market and he reckons if it does crash there is always "safety in numbers" he didnt seem a bit bothered? anyone subscribe to this view?

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Holy God BJ - exactly which bodily orifice was your friend talking out of when he gave this piece of wonderful wisdom? - were there illicit mind altering substances involved?

WTF!!!

A property crash isn't exactly a lion hunt on the serengetti plains or a pack of wolves chasing caribou across the artic tundra - what does he mean ? that the value of our properties will get picked off one by one until the crash has had its fill , gives up and goes way and its happy days again?

A more accurate view of "numbers" in this scenario would be the closing scene of "the field" which saw the whole bloody herd charging over a cliff to their doom.

Maybe, Maybe he means that there are just so many property owners in the country now that the government of the day wouldn't dare let the value of their precious houses fall or there will be hell to pay huh? - Well if it is , its a very naive view to hold - the gov might aswell be whistling dixie on the ditch for all the effect its going to have if the negative sentiment takes hold.

(if the gov starts givin out taxpayers money to compensate these lemmings - as soon as I manage to crack the Pentagon security codes - Im calling in a B52 strike on Leinster house - no way Jose!)

Im still not sure I get him exactly - bit baffled

maybe somebody else here can enlighten me

going for a smoke and coffee to ponder on this one.

blindjustice said:

I spoke to a friend of mine about the market and he reckons if it does crash there is always "safety in numbers" he didnt seem a bit bothered? anyone subscribe to this view?

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Exit stage left if the "gubbernment" tries to bail out the specuvesters at the expense of the renters and savers incomes.

I'll emigrate with my skills and positive income flow to somewhere I'm appreciated and not seen as meat for the bottom feeders.

hehehe i am so showing him this thread

another persons sentiment? anyone see the BLIND FAITH in our economy and the BLIND FAITH in our government?

You have a wonderful way with words Edo. Class response!!!

blindjustice said:

kev says:
if anything....a very soft landing....most people wont be affected

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If anything... but probably nothing will happen. 15% rises for the rest of eternity! We're all going to property millionaire heaven lads, yayyyyyy!

blindjustice said:

another persons sentiment? anyone see the BLIND FAITH in our economy and the BLIND FAITH in our government?

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I think a lot of people just believe what they are told by people in Authority. In this case those in Authority are the Banks, Estate Agents and the Goverment.

Also people always assume the current trend will continue, I'm sure if you went back to the 80s most people would have said Ireland will never be the "Best" country in Europe http://news.bbc.co.uk/1/hi/world/europe/4020523.stm and second wealthiest in the world
[broken link removed]

Accordingly now we all are rich most people believe we always will be.

I would imagine a lot of people feel something like: "We were poor before and now we are rich, and you don't go back to being poor once you are rich"
or
"We did our hard time before, now we deserve to be rich"

whizzbang said:

"We did our hard time before, now we deserve to be rich"

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I wonder how steeped this is in the twenty and thirty something mindset. One of my friends (on his third remortgage and despite having difficulties meeting ends meet still has his head stuck in the sand) is of the opinion that since his parents suffered enough to raise him and and his siblings he shouldn't have to do the same.

The fact that his new lifestyle is funded by credit doesn't seem to matter, all that matters is that x is less than y (where x is the monthly payment on whatever it is he's buying today and y is how much of his salary is left after paying the mortgage).

Out of roughly thirty peers i know of one who regularly saves for things he wants before buying them, and everyone else thinks he's nuts.

wolfie said:

You have a wonderful way with words Edo. Class response!!!

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i second this

exile said:

If anything... but probably nothing will happen. 15% rises for the rest of eternity! We're all going to property millionaire heaven lads, yayyyyyy!

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i second this...........YIPPEE!!!!!!!!!!!!!!