Current public sentiment towards the housing market?

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Andy Doof said:
50%? This post will be deleted if not edited immediately...interest rates at 1980's levels so mortgages were unaffordable for almost everyone. It would have to be some recession to bring about that type of collapse.
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Our private sector debt is the highest per person in Europe. It will be one hell of a recession if and when it happens, even at current interest rates. I'd sooner have higher interest rates and a smaller principle than vice versa.
 
conor_mc said:
Don't think these articles from the Indo have been pointed out yet today.... talk about sensational scare-mongering!!! Seriously, what would a supposedly neutral newspaper carry this sort of stuff unless it had an agenda.... I mean, the first article is an essay not a news piece, and the second has supposedly been written by a very learned young man who seems to hang out with economists on a daily basis and thinks he can bend the ear of the Minister for Finance!! "Now is the time Minister Cowan" indeed!

Sometimes a decision isn't enough

http://www.unison.ie/irish_independent/stories.php3?ca=303&si=1712767&issue_id=14812

Property - our trendy obsession

http://www.unison.ie/irish_independent/stories.php3?ca=303&si=1712787&issue_id=14812http://www.unison.ie/irish_independent/stories.php3?ca=303&si=1712787&issue_id=14812http://www.unison.ie/irish_independent/stories.php3?ca=303&si=1712787&issue_id=14812
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Ross McParland of Sherry Fitzgerald, presented an article in 2003 (pictured, below). In it he guesstimated what it might be like in the future for the next generation of home buyers.

Mr McParland predicted that when his son (Pictured in the publicity poster below) turns 28 an apartment that cost around €330,000 in 2003 will cost about €7.5m in 2031. Having spoken to several economists on this issue my own guess is that the same apartment will cost about €3m when I finally get around to looking for a home of my own ten years from now.
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Dell and Microsoft must have deep pockets if they are going to pay little Johnny here enough money to pay €3,000,000 for a flat. Maybe its an entitlement thing.
 
Ps whats wrong with a witch-hunt after all this? You can say about the people who bought - that its their own fault - but the wider economy will suffer.
 
conor_mc said:
and the second has supposedly been written by a very learned young man who seems to hang out with economists on a daily basis and thinks he can bend the ear of the Minister for Finance!! "Now is the time Minister Cowan" indeed!

Property - our trendy obsession

http://www.unison.ie/irish_independent/stories.php3?ca=303&si=1712787&issue_id=14812
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The name of that 16 year old is Morgan Cashin.

Morgan Cashin is an anagram for 'A Charming Son'.

Well after that piece he certainly is, especially if the parents have property interests that need hyping :D
 
I love the lad Morgan's "as a child of the Celtic Tiger I've no idea what life was like before house prices zoomed into the stratosphere...the concept of buying a house for under E100,000 belongs in the black and white days".
Why don't you ask someone then?

It's unintentional comedy at its best...like the Joe Duffy Show
 
Andy Doof said:
I love the lad Morgan's "as a child of the Celtic Tiger I've no idea what life was like before house prices zoomed into the stratosphere...the concept of buying a house for under E100,000 belongs in the black and white days".
Why don't you ask someone then?

It's unintentional comedy at its best...like the Joe Duffy Show
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He needs to go down to Moyross in Limerick. There are still sub 100K houses there on occasion.
 
Calina said:
He needs to go down to Moyross in Limerick. There are still sub 100K houses there on occasion.
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Lol...very good.

I wonder who the economists he spoke to were?

Moore McDowell? Brendan Walsh?

Or the unqualified charlatan from Cork Eddie the Impersonator.

My money is on the latter "economist"
 
conor_mc said:
Property - our trendy obsession

http://www.unison.ie/irish_independent/stories.php3?ca=303&si=1712787&issue_id=14812
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Whatever about a sixteen year old kid having some bizarre ideas but that Ross McParland from Sherry Fitz must be hitting the sauce heavily. A €330k apartment inflating to €7.5M in 28 years! You'd have a mortgage repayment of nearly €45k a month over 25 years (at 5% apr). The average industrial wage would need to be in the region of €1.5M a year to be within historical norms for house prices.

Mr McParland's crazy calculations assume a compounded annual growth rate of 11.8% over nearly three decades after a decade of double digit per year growth. Gotta admire the optimism.
 
room305 said:
Whatever about a sixteen year old kid having some bizarre ideas but that Ross McParland from Sherry Fitz must be hitting the sauce heavily. A €330k apartment inflating to €7.5M in 28 years! You'd have a mortgage repayment of nearly €45k a month over 25 years (at 5% apr). The average industrial wage would need to be in the region of €1.5M a year to be within historical norms for house prices.

Mr McParland's crazy calculations assume a compounded annual growth rate of 11.8% over nearly three decades after a decade of double digit per year growth. Gotta admire the optimism.
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No admiration from me. Even Andy Doof would laugh at that kind of flaky forecast. We would need a prolonged bout of hyper inflation of Wiemar Republic magnitude to get to McParlands figures. Shows you how barking the Irish market is.
 
room305 said:
Whatever about a sixteen year old kid having some bizarre ideas but that Ross McParland from Sherry Fitz must be hitting the sauce heavily. A €330k apartment inflating to €7.5M in 28 years! You'd have a mortgage repayment of nearly €45k a month over 25 years (at 5% apr). The average industrial wage would need to be in the region of €1.5M a year to be within historical norms for house prices.

Mr McParland's crazy calculations assume a compounded annual growth rate of 11.8% over nearly three decades after a decade of double digit per year growth. Gotta admire the optimism.
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You mean they won't keep rising by 11.8% per year??? Does the general public know this??? Jaysus....think I'll sell up before anyone figures this out...thanks for the timely advice, I owe you one :rolleyes:
 
Firefly said:
...thanks for the timely advice, I owe you one :rolleyes:
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The bears get slated everytime we dismiss figures from Sherry Fitz and other VIs. This shows how crazy they are. Ross McParland was apparently both serious and sober when he wrote this lunacy.
 
SherryTrifle said:
http://www.unison.ie/irish_independent/stories.php3?ca=9&si=1712814&issue_id=14812

FF overturning land rezoning?? !!! surely a joke or an attempt to reduce supply! I love the quote from dick roche about why he overturned the rezoning,

It would have created a new generation of long-distance commuters consigned to a desperately poor quality of life, the minister told the Irish Independent yesterday.

And the predicted upswing in rents is occuring in america, its just starting to occur here .
http://www.breitbart.com/news/2006/10/26/D8L0FA5G0.html
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Maybe the zoning was'nt right down in Laois but I have a feeling that some people (maybe FF supporters and land owners near Portlaoise and other towns with the infrastructure he is talking about) will benefit from this Minister's descision. He was just on radio there saying other counties may see similar descisions. This could be just the start of the defensive action from the FF/Property developer/Land owner cabal.
 
Duplex said:
No admiration from me. Even Andy Doof would laugh at that kind of flaky forecast. We would need a prolonged bout of hyper inflation of Wiemar Republic magnitude to get to McParlands figures. Shows you how barking the Irish market is.
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To be fair I believe in the soft landing...stagnation and low single digit growth. A little bull if you like!

I never saw this ad...it is truly shocking, frightening and appalling.
Worst thing is, some people would believe it and act on it.
 
conor_mc said:
......... thinks he can bend the ear of the Minister for Finance!! "Now is the time Minister Cowan" indeed!

............
Property - our trendy obsession

http://www.unison.ie/irish_independent/stories.php3?ca=303&si=1712787&issue_id=14812
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Incredible, 16 years old, dropping hints to the government on how to increase affordability to FTB's, to slash VAT on building materials, invest in affordable houses etc, on speaking terms with several economists...We should just give him the job of running the finances at the next election.... by then he'll probably be 17 and even wiser

Think we'll start to see more of these ...

Andy Doof said:
..... Pension legislation is being further liberalised...
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MadPad said:
..........there will be pressure to increase mortgage tax relief, abolish VAT on building materials, abolish stamp duty, abolish PRSI for construction workers, buy unsold or half completed houses as public housing .........
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Howitzer said:
.....
http://www.askaboutmoney.com/showthread.php?t=36615
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bearishbull said:
Maybe the zoning was'nt right down in Laois but I have a feeling that some people (maybe FF supporters and land owners near Portlaoise and other towns with the infrastructure he is talking about) will benefit from this Minister's descision. He was just on radio there saying other counties may see similar descisions. This could be just the start of the defensive action from the FF/Property developer/Land owner cabal.
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It just shows that after all the tribunals,investigations etc etc. the planning process is still wide open to corruption by a dodgy minister if there was ever such a thing again !:rolleyes: :rolleyes:
 
unbelievable Calina 2 bedroom terrace , asking 55k, no matter where it is, though must be a real dodgy area
 
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