Current public sentiment towards the housing market?

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Bedsit said:
People are always complaining that there are not enough bulls on this forum. So I thought I would post a link to this bullish article for a change
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This bit's just comical.... it's like he's denying property bubbles can ever exist because of illiquidity and the fact that some houses are selling.... hmmm, try telling that to 1989 UK home-buyer!!!!

 
Bedsit said:
People are always complaining that there are not enough bulls on this forum. So I thought I would post a link to this bullish article for a change
Click to expand...

It's nice to see that he doesn't try and hide his biases:
So, please, for the sake of all that's holy, stop talking about the housing bubble. For one thing, it just makes you look uninformed. And, worse, it may scare buyers away from the place I'm trying to sell.
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Everything single person i have talked to about the housing market has said that the current slowdown is due to people waiting to see what happens in the budget with stamp duty!! If i try and say that things were stalling before there was any mention of stamp duty changes, they disagree! It is going to be so interesting to see what actually does happen after the budget and in the new year if stamp duty is left relatively unchanged, daft brings out a negative report and a media frenzy builds up etc etc. The Dec and Oct interest rate increase will also have kicked in. What will the next smoke screen be?
 
howstrange said:
What will the next smoke screen be?
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"Buyers are waiting for the ECB to stop raising, and will then get a mortgage. Don't worry, it won't be long now before prices start rising again.."

We've already had:
- Nothing sells in Summer, wait till the Autumn selling season
- The weather was very good, so everything has been delayed
- Everyone was away watching the Ryder Cup
- People are waiting for the Budget
 

- People are waiting for prices to become more reasonable.....Doh! Dammit, wrong script.... eh..... where did I put that IAVI one....
 

According to the Daft house price index, the slowdown/slump started sometime in April/May 06, I don't remember anybody even mentioning stamp duty changes in the next budget at this time. As far as I recall, it wasn't until late September that Michael McDowell brought up the subject of stamp duty.

[broken link removed]
 
Talking about job losses in Dublin at the moment as a leading indicator for future house price falls is irrelevant. We have effectively full employment and unemployment is not anywhere near being a factor yet (which is not to say that it will not in the future).
 
gearoidmm said:
In parallel with that, the number of properties available to buy has increased by 50% in the past 4 months. Seems that a lot of investment property is being dumped on the market..
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It would seem EAs are have now shot themselves in the foot or perhpas more their "friends" / "clients". Since a lot manage properties for big specu-land-vestors, hundreds in some cases.

Agents telling friends to sell

[broken link removed]
 

Probably drfiting off topic here better suited to Clouds Ahead but... I do think mounting job losses in manufacturing will keep the topic of our one dimensional economy in the spotlight which will IMO have a knock on effect on sentiment
 

I spotted that a good few posts ago

Is a point worth repeating though !!! I feel it will be forgottne as the next excuse comes in line. Remember people aren't thinking rationally.

I believe DAFT may come out of this as a force to be recokned even more than it is now. Its the most real guide for the market to find sentiment and to be honest will become more crucial. THey should change there facility so prices are recorded by their system, that once an address in logged it may be trackerd essentially forever!

Address don't change, but price do, so once it logged on the system it should stay there that is powerful! No need for google cache anymore.

Its pan agent powerful independent source. Surely it is having a huge impact on market sentiment, as is this thread.
 
http://www.finfacts.com/irelandbusinessnews/publish/article_10007701.shtml

Interview with John Hurley (central bank head) suggesting that there will be no fall in Irish house prices. Although he cautions that infrastructural spending cannot take up the slack for a large drop in private sector construction because the drop in tax revenue would mean that it would not be possible to up spending without breaking the terms of the stability and growth pact.

Hadn't thought of that.
 
NIB's "Loan to Value (LTV) is the amount of your mortgage relative to the value of your house - and we have linked our pricing to your LTV. Our unique tiered pricing model offers margins ranging from 0.50% to 0.59% over ECB depending on your LTV - up to a maximum of 80% LTV. "

That sounds nice, but what happens to that Mullingar million euro house devalues to 650,000 by mid-2008. Negative equity and increasing rates above and beyond the competition. Is anyone thinking of a USA style mortgage starting with 'Amor...'. No, no, I can't say that they don't exist here.
 
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