Current public sentiment towards the housing market?

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Public sentiment: I knew it was changing when my family actually started to listen to my last rant on housing and the economic future of Ireland. For years, I've been considered the financial black sheep of the family, renting and refusing to buy while the bubble inflated and each of my reasons for not investing (mar dhea) was met with "Yeah, yeah, whatever... you eejit." Behold, the last time I touched the subject, I found myself with a respectful audience for my speech. That, for me, was when the whole thing turned around.
 
polar said:
Public sentiment: I knew it was changing when my family actually started to listen to my last rant on housing and the economic future of Ireland. For years, I've been considered the financial black sheep of the family, renting and refusing to buy while the bubble inflated and each of my reasons for not investing (mar dhea) was met with "Yeah, yeah, whatever... you eejit." Behold, the last time I touched the subject, I found myself with a respectful audience for my speech. That, for me, was when the whole thing turned around.
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Same here, someone even asked me for my opinion recently!!
 
robd said:
Matt Cooper's property piece has just finished.

Those interviewed were:

Orna Mulcahy - Property Editor - Irish Times
Ian Lawlor - Property Investor - ICES Group
Des Purcell - Waterford based Actioneer

Orna Mulcahy didn't have a huge amount to say. She reckoned that the Auction Indicators weren't an indicator of the overall housing market. The other 2 agreed. All were still either quite bullish or very bullish on property.

Some stats on Dublin houses up for sale givem:

2006 -> 115 houses > €1m
2005 -> 63 houses > €1m
2004 -> 48 houses > €1m

The piece was very short and Orna really didn't have very much to say, she seemed quite unprepared for any of the questions Matt asked. The Waterford auctioneer was very bullish on property in that area, a real spin doctor. He rekoned there is great demand for new property in Waterford and surounding counties due to delay in planning. Ian Lawlor reckoned there was still investments opportunities if/where the sums add up. He reckoned there may be more opportunities to come if Orna's piece holds up.

It really wasn't a great piece at all. Very wishy washy with not facts or anything.
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I hate the fact that all the discussions in the media about the property market are always one-sided, normally with only vested interests being interviewed. They are always bullish and are dismissive of any concerns about the market the interviewer may state.

Another thing that bothers me is the that the interviewer rarely if ever tries
to grill these panelists about their statements, and usually takes their words as gospel.

I'd wish they'd bring in a balanced panel with the likes of Eddie Hobbs, IMF, OECD or anyone else who can counter their arguments.
 
That would appear to be Cardiff. A fairly common street address, it would seem.

I also can't find google's cache for the myhome page. I believe it's possible to have a site listed as not cachable. That would probably be a smart move for people not wishing to make weakness in the market visible.
 
solatic said:
That would appear to be Cardiff. A fairly common street address, it would seem.

I also can't find google's cache for the myhome page. I believe it's possible to have a site listed as not cachable. That would probably be a smart move for people not wishing to make weakness in the market visible.
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Different cache I believe; not cachable is an instruction to your browser that the info is volitile and therefore the page should be recieved from the web on every visit. The google cache would be equivalent to you copying a web page and all images to your own computer, if the page is visible to a browser then google will cache it.
 
Here's an example of a price drop on a redbrick in Drumcondra:

Original Price: €875,000


New Price: €845,000
[broken link removed]=
 
solatic said:
I believe it's possible to have a site listed as not cachable. That would probably be a smart move for people not wishing to make weakness in the market visible.
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You're might be correct - maybe they're not being cached correctly.
 
Looks like people are clamming up, as someone suggested they might:

Was 440k:
[broken link removed]

Was 635k:
[broken link removed]

Was €1.65m:
[broken link removed]

It would be interesting to hear how much the EAs are suggesting for these properties now.
 
paddyd said:
correct, and this is something people forget, that its the Germany pension fund money we are actually borrowing, as serviced by AIB/BOI or whomever.
The aging Germany population were not spending their life-savings, and certainly not borrowing from banks, in the mid-nineties. As banks are in effect, money lenders, the german banks needed to loan the money to someone, anyone; and the irish banks were only bursting to get their hands on it and loan it out to all us chaps. and so the Celtic tiger economy really got the party started
(I call it my 'celtic tiger description' in 100 words or less)
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That's right! Europeans are congenital 'savers'. There was an item on BBC4 "Today" programme earlier this week deploring the appalling debt-ridden UK which is at an average of £1,500 per head - presumably adult head - of the population compared to half that in the rest of Europe. I can't remember the comparable Irish figure but isn't it over Euro 5,000 per capita? When the French or Germans buy a dacha in Lithuania they have savings to insulate them through most financial vicissitudes.
 
solatic said:
Looks like people are clamming up, as someone suggested they might:
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Weird - in the time since I last looked, all three of those have changed back from "contact agent" to listing the price again. Database update maybe?
 
Rumour around the dail has it bertie will go tonight or mcdowell will walk. a snap election would suit FF/PDs if market is starting to correct/crash.
 
StoppedClock said:
Different cache I believe; not cachable is an instruction to your browser that the info is volitile and therefore the page should be recieved from the web on every visit. The google cache would be equivalent to you copying a web page and all images to your own computer, if the page is visible to a browser then google will cache it.
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You can put a file called robot.txt on the webserver and include in the file any pages you do not want indexed by google and other search engines. Probably won't show up on the search at all then though.
 
bearishbull said:
Rumour around the dail has it bertie will go tonight or mcdowell will walk. a snap election would suit FF/PDs if market is starting to correct/crash.
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Well they've scheduled a special debate on the farce next week but it could suit both parties. McDowell looks tough and the opposition can welcome the PDs with open arms. Fianna Fail will have an election before the full horror of the upcoming housing crash becomes apparant.
 
Bertie can call everyones bluff by calling an election now. They have a better chance now before a winter of discontent. What with higher fuel bills, higher interest rates, and the reality that the laws of gravity also apply to our housing market.
 
More negative sentiment on the 9 o'clock news - an article about repayments rising by 50% during the tightening cycle. They also mentioned growth of 5% but that it is driven by consumer spending and house price increases.
 
liteweight said:
Well Mr. Dunne can afford to sit on his 'asset' and do nothing!! :D
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IMO supply will keep coming. S Dunne and all the other developers will keep developing their landbanks and keep supplying property to the market. It is very difficult for those who have been very successful to stop until it is very clear to them and their banks that there is no way that money can be made.

Every year they wait they are losing say 4% base plus 3% margin =7% of the amount borrowed.

A key difference in this boom is the sheer scale of numbers means that letting large sites sit there is not going to be an option. The banks will also haver extracted lots of security on other dunne and other developer assets - another reason for them to keep going. Banks are not completely stupid.
 
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