I often thought that a factor which may have somewhat limited the carnage of a property crash here would be the fact that Irish people hadn't treated their houses as giant ATMs, to the same extent that the americans have. Now I'm not so sure..
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I often thought that a factor which may have somewhat limited the carnage of a property crash here would be the fact that Irish people hadn't treated their houses as giant ATMs, to the same extent that the americans have. Now I'm not so sure..
When prices rise rapidly some people nod and smile smugly, it's never questioned.
As soon as prices are seen to fall - Oh My God, it must be a pricing error!
My thoughts too
Yep - they've been priced higher for some time and then re-launched last Friday week at those prices. So the price drop is within the last week. You can see from the myhome listing vs. cache that it is a genuine price drop.
In percentage terms it isn't that much of a drop, I would have thought that the developers would have to have done a bit better than that to get someone to bite. I am not sure that there will be any saps who will go for this if they had been reading or listening to any of the negative reports over the weekend.
I'm monitoring asking prices on daft for a few towns in Laois(about 40 properties in total) for a few weeks now.
No price drops but this morning I see one has an asking price 40K below last weeks price(can't find a cache entry for it)from 475k to 435k. An other has a small 5K drop(265 to 260)-again can't find a cache entry for it.
I'll add links when I can find the cache entries.
No price drops but this morning I see one has an asking price 40K below last weeks price(can't find a cache entry for it)from 475k to 435k. An other has a small 5K drop(265 to 260)-again can't find a cache entry for it.
I'll add links when I can find the cache entries.
Here's one in Laois that dropped in the last while:
Old price €380,000 (cached July 13th)
New Price €365,000
www.daft.ie/11095
Old price €380,000 (cached July 13th)
New Price €365,000
www.daft.ie/11095
History has a habit of repeating itself, especially economic history. What has happened in Japan should be seen as a warning. I visited Tokyo around six years age at the height of their property crash and was amazed at the amount of economic activity. The port area was a hive of productivity exporting goods to the four corners of the globe. Any quick look around our own houses would see the strength of that economic power and still their property market crashed and wiped out millions of investers. Take a quick look around the house today and see what Irish goods you have in your house, apart from the odd pack of Barry's Tea, we as a nation are not producing or exporting enough Irish owned products. If Japan with all it's economic power could suffer a housing market crash, by allowing insanity to become part of economic orthodxy, then we in little Ireland could suffer far far worse.
Noticed quite a few houses for sale in Glasnevin on the way into work today. Three or four "For Sale" signs on houses right beside each other on Ballymun road. There was only one there on Friday.
Even my father, a property perma-bull, has decided to hold off for six months or so on a planned purchase. As little as two weeks ago he was blithely dismissing any concerns I had about the market.
I think that sentiment has definitely changed which makes me more than a little nervous for my impending sale - my house goes on the market this week.
Even my father, a property perma-bull, has decided to hold off for six months or so on a planned purchase. As little as two weeks ago he was blithely dismissing any concerns I had about the market.
I think that sentiment has definitely changed which makes me more than a little nervous for my impending sale - my house goes on the market this week.
J
johnjoe101
Guest
Hi
A 3 bed semi d in bray (mature estate - would have been considered a starter for parents but now is considered an upgrade!) was on the market for months and was recently taken off the market. they didnt even attempt to lower the price. It was bought 3 years ago for approx 385K and they were looking for 725k not surprised it didnt sell. however another house in same estate sold in last autumn selling season for 640k. outragious growth for a 2.5 yr period.
Keeping my eye on another outragious price 1.1m for average detached house in similar estate nearby in bray. its been on the market for months also no movement in price yet.
A 3 bed semi d in bray (mature estate - would have been considered a starter for parents but now is considered an upgrade!) was on the market for months and was recently taken off the market. they didnt even attempt to lower the price. It was bought 3 years ago for approx 385K and they were looking for 725k not surprised it didnt sell. however another house in same estate sold in last autumn selling season for 640k. outragious growth for a 2.5 yr period.
Keeping my eye on another outragious price 1.1m for average detached house in similar estate nearby in bray. its been on the market for months also no movement in price yet.
fatmanknows
Registered User
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I scent something very ominous for the brethern in Limerick. I'd hold off on tapping up any mortgages for a while.
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I scent something very ominous for the brethern in Limerick. I'd hold off on tapping up any mortgages for a while.
Barrys Tea is imported too!
Since when did we start growing tea in Ireland?!
Its a pity that the first example of Irish manufacturing we think of is only a re-packaging and marketing business!
A 7am start used to be normal when I was living in Swords while Applewood was being built. I don't remember them going on till 10pm though.
S
SHARP
Guest
Might also have something to do with the light fading fast with winter approaching too......
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