In the company I work in they had a 10% pay cut in 2001 and they're only getting back to those levels now.
In the company I work in they had a 10% pay cut in 2001 and they're only getting back to those levels now.Depends on what area of IT you work in. I know of plenty of people earning very good salaries in IT.
Although I dont know what the 2000-era rates were like.
Certainly System Analysts, Project Managers, and J2EE developers are in high demand and demand high salaries.
one really important question here for you.
how do you know the latest offer is 450k????? you'd either have to be the owner or an estate agent to know that
That is due to a once off amnesty causing repatriation of funds back to the Us and has disrupted the medium term figures.
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.
Inflation vs. Deflation eh? What about inflation in some things (food, energy, healthcare, things from China/India) and deflation in other things (bonds, stocks, property, wages and currency values in the West) with the overall effect being slight deflation. I believe the technical term is “dis-inflation”.
Good news! Everything is okay, just seen Eddie Hobbs on RTE he says that the economy is too bouyant for a property crash
"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,"
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...
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...
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
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.
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.
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.
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