Current public sentiment towards the housing market?

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In the front door and straight in to s/r ...lovely.
You'd think that at least they'd fix the door under the sink!
 
Bedsit said:
[broken link removed] Has a very approriate street name as well :)
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Irish property has become an international joke and that place is the punchline.

Go to a French property web site and see what 440K will buy you.
 
Bedsit said:
[broken link removed] Has a very approriate street name as well :)
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510 square feet of pure luxury!


Would I be wrong in thinking that in a healthy market a place like that would maybe be left there i.e little interest in a kip like that? And the only real buyer you would get would be a developer who would maybe knock it and rebuild or COMPLETELY renovate it before even dreaming of putting it on the market? or am I being silly????? 400K I really dont think so. Is actually very very sad
 
440,000 you selling this????? i have seen this area madness is only answer i could think of
 
Hey Hey hey Hello!

RENTING

In truth cramming as many bodies into one place is the key, we have done it, it has its disadvantages but at 260 for a small single room or 260 pm sharing a large double room you cannot go wrong. TO be honest, especially in the context of the current price sureality.

Its true my rent rent has fallen over the last 4 years in simple terms of montly payment, simply by moving and renting larger places with more people.

FOr example,

2001 - 400 p/m
2002 - 420 p/m
2003 - 350 p/m
2004 - 260 p/m
2005 - 260 p/m
2006 - 260 p/m

when you take into account of HPI with combined Infaltion and such I am saving even more seemingly.

I don't know whats going on, too many mixed singles close to hom thought I beleive a correction well overdue. Our landlord bought the house next door, same size in better condition but non the less but is asking €650 more per month than what we are paying.

If we had bought it we would have seen our montly payments at well over 3,300 p/m on a lonag mortgages at leat 30 years. Strangley they are only asking for 2500 p/m rent. Not only that but he is rennovating the place to a reasonable extent.

THey must have had some deposit or access to interest only mortgage. Either way, our rent is at 1850 p/m so we are saving a packet collectively & indivudually.

It seems our landlord is happy to subsidise us and others. His investment logic seems to be simple,buy and never ever sell. ( I have been told as much)

Now heres something even more interesting. In the last few weeks I have come across 2 sets of people who are renting places for FREE! as developers/owners wait for planning permission or rezonning (very dubious), invited squatting, ok its free security but hang on a sec.... know what I mean.
 
Posters on this thread are very knowledgeable and canny and I myself have been a bear since 2001 to the extent of selling off a Dublin house in 2003 (against a cacophany of advice to hang onto it as a rental on the grounds that 'you can't go wrong' 'prices can only go up' etc., etc.) but as far as the topic of this thread is concerned - public sentiment towards the housing market - that is a long way away from the views expressed here.I've just returned from a visit to Dublin where I was shocked and concerned that a number of friends and family members were gung-ho about the economy and had 'released equity' on their PPR's, where the cost of essential groceries and ordinary activities (public transport, books and newspapers) have risen alarmingly, where the half-dozen young foreign nationals I spoke with in the course of my visit were exhausted and cynical, planning to leave their domestic and/or 'leisure industry' to migrate to mainland Europe as soon as possible, and where a former neighbour insisted I had been foolish to sell up because the garden (the garden!!!) would now be worth over 100K and there were queues of immigrants needing housing. He appeared unable to hear my response -that property-prices were artificially inflated, that at that precise moment there were 54 properties for sale around us where 3 years ago there were never more than 10 available at any one time, that multinationals were getting restless, that the foreign workers were preparing to leave etc., etc. It suits people to feel secure and lucky; facts and rationality have very little to do with it.
 
I had the misfortune of having to travel to "Blanchardstown Town Center" last weekend. There was a sign on one of the housing developments at the side of some roundabout saying "if you lived here you'd be home by now" (I think it was called the pheonix racecourse or something) - I nearly crashed the car with laughter!
 
Bedsit said:
[broken link removed] Has a very approriate street name as well :)
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This is the reason why it all gonna fall apart. It's like Dotbomb!
I work in IT and remember the crazy days before that bubble exploded....it was all "But it's a different world, blah, blah, blah" and lunatics were paying millions for business that only existed on paper.

The bulls will probably say: "Ya can't compare the stock market to this, this is property, tangible land, God's not making anymore, etc, etc" Except now, there's loads with a sizeable amount vacant and when the investors leave on mass......booooom


http://irishhousepricesfalling.blogspot.com/
 
fatmanknows said:
Regulator wants Credit Union debt action

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Bet on a number of these bad debts to be deposit loans for the FTB. Would'nt fancy underwriting the loan book of any Irish Lender at the minute.
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Credit Unions are a problem waiting to happen.

The cut in the tracker rate by NIB will boost the mortgage/housing market as it effectively neutralises 2 interest rate rises. It will force the other banks to match and seek other ways to boost margin. However it increases the risk to the banking sector as it becomes less profitable.
 
redo said:
Old price 470k
Grange Manor, Lucan, Co. Dublin.


New price 450k
[broken link removed]
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Blank house and bland furniture; Another ex-investment property. All the investors are selling up and liquidating their assets. Happy to drop their asking price just to lock in their profit.
Why would anyone buy in to this market when so many are tripping over themselves to get out.
 
blindjustice said:
http://www.boards.ie/vbulletin/showpost.php?p=52198881&postcount=1009

another nice graph
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Oh dear oh dear......... that is big trouble!! However I reckon if you showed that to 20 passers-by in a Dublin street 15 would interpret the rising trajectory to mean they should rush off to the EA and buy another two as 'property is rising'. The bubble is based, in my view, on a mix of self-delusion and real misunderstanding of economics and how it all fits together.
 
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