S
StoppedClock
Guest
Such chancers. How about starting a new thread "Current public sentiment towards Estate Agents?"
I think it works like this. I have a house for sale and so does my neighbour. I go to SF and DNG (so does my neighbour) SF say its worth €400K, DNG say its worth €420K. I go with DNG the neighbour goes with SF. The neighbours house sells first (because its cheaper), but because the prices are rising by 10% per year anyway, my house sells 6 months later for €420K, I just have to wait a little longer.
Like you said, works well in a rising market when exaggerated prices now become normal prices in 6 months.
I think it works like this. I have a house for sale and so does my neighbour. I go to SF and DNG (so does my neighbour) SF say its worth €400K, DNG say its worth €420K. I go with DNG the neighbour goes with SF. The neighbours house sells first (because its cheaper), but because the prices are rising by 10% per year anyway, my house sells 6 months later for €420K, I just have to wait a little longer.
NewsTalk had Jim Power from Friends First on this morning. He said we were experiencing the 'soft-landing' and the current oversupply would work it's way through the system over the next few months and then we'd reach equilibrium.
I am going to make a simplistic argument / theory, please pick holes in it as ye so wish.
75000 people arrive here each year, lets say 3 per house, they need 25000 houses. 50000 people do the leaving cert per year, lets say 2 per house, thats another 25000 houses = 50000 houses per year needed. Old people die and free up houses, some people still emmigrate, so lets say that frees up 10000 houses, so we need 40000 new houses per annum at current immigration rates, but already we are building 90000 houses. We are building 40000 houses more than needed.
Am I missing something or is this a reasonabe picture of the situation?
Am I missing something or is this a reasonabe picture of the situation?
I think demand has been calculated at between 45k and 60k a year. The building of 90k+ houses are year was supposed to make up for a shortfall and return us to a state of "demand/supply equilibrium".
How a shortfall in housing could exist with so much vacant property around is anybody's guess.
Does the revenue know if you have multiple houses or do you have to disclose it to them? Is the system smart enough to identify if someone is claiming to have 3 PPRs?
If there's no jobs here, they'll stop coming. What happens to those already here who work in construction?75000 people arrive here each year, lets say 3 per house, they need 25000 houses.
A figure that is decreasing every year50000 people do the leaving cert per year,
Assuming inward migration of 80000 (?) a year continues. Imagine what happens if that stops.We are building 40000 houses more than needed.
The CEO of Toll brothers in USA commenting on recent house price falls said it was all down to sentiment as the economy is still doing very well over there.
I'd disagree, unemployment is very low, incomes rising, stock markets at all time highs. there are clouds on the horizon but for the time being consumer sentiment is still strong in US and seems little economic reason for house prices to fall.I think he is dreaming if he thinks the US economy is in a healthy shape but he makes a good point. Negative sentiment causes buyers to disappear from the market or hold out for lower prices.
Not quite sure which sectors are going to mop up the new arrivals in the country.
Not quite sure which sectors are going to mop up the new arrivals in the country.
Doesn't really matter if the system is smart enough now, it's an easy enough system to build so even if you escape now you will be caught in the future. I'm sure Revenue will get around to it when they need the money.
I'd disagree, unemployment is very low, incomes rising, stock markets at all time highs. there are clouds on the horizon but for the time being consumer sentiment is still strong in US and seems little economic reason for house prices to fall.