In the company I work in they had a 10% pay cut in 2001 and they're only getting back to those levels now.
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No - you could also be a bidder - or just call to see the property , the agent will tell you the current bid if it is over the asking price , to save wasting your (and their) time.
T
treora
Guest
Yes, but now that all the money is out of Ireland they can re-invest it in Poland; and that's exactly what Dell and Accenture have done.
I dont believe wages need to rise to fuel inflation, real wages in the US have been decreasing for 30 years now. There are more and more sophisticated instruments available to people to get themselves into more and more debt , and to fuel asset prices. The average 50 year old american has a zero net worth, even though he lives in a reasonable house and drives a nice car.
And look what a fine mess this approach has got them in! The baby boom generation is about to start retiring in the next few years over there and with so little savings they could end up bankrupting the whole country.
To be clear my opinion on deflation relates to ireland only, our wages have been inflated by excessive domestic demand driven by a credit explosion. When the credit slows, demand will drop and wages will follow. Companies will see sales declines and will have to cut costs and take lower profits to keep going. Say an extreme example will be 100k designer kitchen maker - sales will likely decline. Have to cut costs and probably prices.
And the ECB will not cut interest rates to 0% because what will be happening here.
D
Doris
Guest
Good news! Everything is okay, just seen Eddie Hobbs on RTE he says that the economy is too bouyant for a property crash
Bad news! I saw him too, he didn't say that
He said he didn't know if there was going to be a property crash but there was still demand in the market, he advised a caller to buy a home if it's a home but not as an investment.
He also said that if there is a crash, the country would plunge into economic turmoil due to the dependency on the property market. He said many people will be adversely affected by a property crash but featherbed public sector workers won't have to worry about it! He also said that anyone expecting to snap up cheap property in a crash is misguided due to the economic misery, unemployment etc that would ensue.
J
JayDub
Guest
Concerning the Daft price index, just received the following from Daft.
"What's interesting, and what you have probably noticed yourself, is that asking prices appear to have almost stopped increasingly completely since Q2 this year, as per the Daft.ie index. The next Report will be out November 2nd and will cover up to September (final figures) and October (provisional figures),so keep an eye out for the latest!"
I for one am looking forward to this report.
"What's interesting, and what you have probably noticed yourself, is that asking prices appear to have almost stopped increasingly completely since Q2 this year, as per the Daft.ie index. The next Report will be out November 2nd and will cover up to September (final figures) and October (provisional figures),so keep an eye out for the latest!"
I for one am looking forward to this report.
T
thewatcher
Guest
And what happened in Q2 ?
The ssia matured,and what was the mantra sold to the masses for the 12 months previous to this by the vested interests ?
While ftb's do bear some responsibility for not researching the market,i do fell sorry for them.A whole generation has been sold down the debt river in this country by the vested interests,they should be ashamed of themselves.
When we look back in 20 years time todays prices will seem tiny, buying at this peak will seem insignificant even if prices fall 20 or 30% in the meantime. They will recover over time. FTB's are buying now because they need a home, and in the long run are probably better off not trying to time the market.
I think it would be wise to consider the long term perspective. We are by nature usually negative about the future, thats human nature, there is a bubble but we'll get over it. There is global warming but we'll probably get over it too....As far as the future is concerned, we're probably into a new era with massive new markets opening up, with huge middle (consumer) classes emerging in Asia etc. Huge possibilities lie ahead...this is not the end of the line...
fatmanknows
Registered User
- Messages
- 53
Sherry's results for today.
Prize available to first person who can calculate total commisssion earned for today ! (nearest euro will do - call moderator to arrange for collection)
View the latest auction results here!
Date of Auction: 17/10/2006
Address: Marble Hall, Ferndale Glen, Rathmichael, Co. Dublin
AMV: €3.85m
Auction Result: Withdrawn at €3.7, now quoting €4.250m
Date of Auction: 17/10/2006
Address: 1 Richview Park, Dartry, Dublin 6
AMV: €3m
Auction Result: Withdrawn, now quoting €2.9m
Date of Auction: 17/10/2006
Address: 20 Terenure Road East, Rathgar, Dublin 6
AMV: €2.7m
Auction Result: Withdrawn at €2.6m, now Quating €2.8m.
Date of Auction: 17/10/2006
Address: 29 Kenilworth Road, Rathgar, Dublin 6
AMV: €2m
Auction Result: Please ring for results
Date of Auction: 17/10/2006
Address: 44 Farney Park, Sandymount, Dublin 4
AMV: €1.4m
Auction Result: Please ring for results
Prize available to first person who can calculate total commisssion earned for today ! (nearest euro will do - call moderator to arrange for collection)
View the latest auction results here!
Date of Auction: 17/10/2006
Address: Marble Hall, Ferndale Glen, Rathmichael, Co. Dublin
AMV: €3.85m
Auction Result: Withdrawn at €3.7, now quoting €4.250m
Date of Auction: 17/10/2006
Address: 1 Richview Park, Dartry, Dublin 6
AMV: €3m
Auction Result: Withdrawn, now quoting €2.9m
Date of Auction: 17/10/2006
Address: 20 Terenure Road East, Rathgar, Dublin 6
AMV: €2.7m
Auction Result: Withdrawn at €2.6m, now Quating €2.8m.
Date of Auction: 17/10/2006
Address: 29 Kenilworth Road, Rathgar, Dublin 6
AMV: €2m
Auction Result: Please ring for results
Date of Auction: 17/10/2006
Address: 44 Farney Park, Sandymount, Dublin 4
AMV: €1.4m
Auction Result: Please ring for results
Agree with everything you say above but choosing not to buy now may not be timing the market. If someone were to decide that on a fundamental level property was overvalued and made a decision not to buy - they wouldn't be timing the market. 80% of our net worth (Mrs WH an I) is in the stock market or private equity investments and I never time the market but I won't buy anything that I think is overvalued. Unfortunately the other 20% is in a PPR (moving in Dec) but that's something I can't argue my way out of with the boss
So it's possible to choose not to buy property without committing the "never time the market" sin.Gosh Badabing this Pollyanna breeziness makes me feel like a churlish old curmudgeon.........or am I? Need for a home can be satisfied by other methods than committing to half-a-lifetime of stringency in order to live in a building for which you hold a mortgage. Buying - in the current circumstances - is a choice to sink income in a small patch of earth in preference to using one's resources to invest in making or growing things, pursuing education, relationships and fulfilling life-experiences (which all need funds). Once 'sunk' this cannot be retrieved though as far as public sentiment goes there appears to be a belief that come 'crash' come 'boom' they cannot lose because houses are real, solid objects. All their 'sunk' resources will be - magically! - restored a hundredfold in time. This is patently untrue - previous posts on this thread identify the 'pyramid' aspect of soaring house prices - but the persistence of the myth has sustained the bubble. Incidentally the argument that acquiring one's own home provides security and rent-free accommodation in later years is partially true but must be considered alongside the fact that the realities of increasing age often entail sale of one's PPR to fund institutional or nursing-home care. Property depreciation can affect this adversely.
Bad news! I saw him too, he didn't say that
He said he didn't know if there was going to be a property crash but there was still demand in the market, he advised a caller to buy a home if it's a home but not as an investment
Is this some of the problem? No offence Doris but what you heard Eddie say was probablt what joe soap heard too, which is a long ways from knowledgeible types like whathome here said. Joe soap can't see the signs even when he's being told them!
The problem is not the people who are buying a 'home' but those who are buying any old crap that they can afford in order to get on the ladder. Many of my peers have purchased apartments that they have no intention of living in long-term in order to trade up in a few years. What happens to them if the market falls by 30%. Yes, in 20 years it might seem insignificant but in 5 years when they want to move on it may not be so easy.
That's the most refreshing post I've read on here in a long long time. Certainly a much more mature outlook than any "bulls" or those scrambling to get on the so called "ladder".
O
Open_Window
Guest
Maybe maybe not. Either way the people being saddled with this debt now don't care about that if they are the ones left holding th baby.
Japna is pushing it past 15 years for delfation in prices who says Ireland could go for longer and thats the point...
howstrange
Registered User
- Messages
- 12
Was just watching that Raging Bulls programming on RTE about Baltimore Tech and Fran Rooney!! I was thinking to myself if we will see a similar programme in a few years time about the boom and bust of the Irish property market and the hype that surrounded it all! No flies on the main man Dermot Desmond either selling his shares in Baltimore just before it all went belly up!! Now who was the guy who said a few wks ago that there might be a WEE bit of a bubble in the property market..........
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