Current public sentiment towards the housing market?

[Guest107]

But as someone else said earlier in the thread more than likely these are cherry picked "safe" mortgages (low Ltv) as international investors are not stupid,leaving the bank with the much riskier one's 100%,interest only etc.

Thats not quite the point, if securitisation is carried out at this rate EVERY month then they are hiding €24Bn worth of debt from the gross figures every year .

Regardless of loan quality that money is owed by an Irish person to a bank in Ireland.

 

[SteelBlue05]

I
I would not be concerned with that as eventually traffic will be mostly banned from alot of the areas (can be fixed in a day with a council ruling)

I dunno, where can they ban traffic in Salthill without making things worse? There simply are not enough roads between the Barna side of Salthill and the east side of the city.

 

[walk2dewater]

Property prices are going UP UP UP.....

We're a while off a 'buyers' market yet.. but it is inevitable... and I [puffs chest out with Irish pride] wouldnt want to live here when it does...

 

[ivuernis]

You may mock at my predictions but do not underestimate what a degree change in temperatures can make. Someone else mentioned traffic etc in salthill. I would not be concerned with that as eventually traffic will be mostly banned from alot of the areas (can be fixed in a day with a council ruling) and the views and the sea will never change.(in our lifetime anyhow)

Recent measurements show that the Gulf Stream has already weakened and if it does not recover temps in Northwest Europe could drop by 1C over the next decade. If the Gulf Stream were to switch off completely temps would drop by between 4C and 6C within 20yrs of such an event. It's entirely plausible that within lifetime of most people alive today.

 

[room305]

Property prices are going UP UP UP.....

We're a while off a 'buyers' market yet.. but it is inevitable... and I [puffs chest out with Irish pride] wouldnt want to live here when it does...

I dunno, maybe living here when the whole thing collapses won't be so bad. Assuming your job won't be affected and you don't have a large mortgage hanging over your head, what will the problem be?

Probably snap yourself up a nice repossessed motor on the cheap too.

 

[phoenix_n]

Property prices are going UP UP UP.....

We're a while off a 'buyers' market yet.. but it is inevitable... and I [puffs chest out with Irish pride] wouldnt want to live here when it does...

Its not a buyers market. Correct. Only because nobody will want to buy.

I dunno, maybe living here when the whole thing collapses won't be so bad. Assuming your job won't be affected and you don't have a large mortgage hanging over your head, what will the problem be?

If you mean that it will be cheap to buy. Yes. But the trick will be to know that you dont buy when the market has only hit a crevice , on the way to rock bottom. Maybe that might be a thread one day. 'Has the market hit rock bottom yet'.

 

[CelloPoint]

Can we plesae stop about the gulf stream? If this kind of talk continues, the mod will shut this thread for going off topic. The previous record on AAM was 48,000 hits over 8 months. This thread is now touching on 45,000 hits in less than one month.

 

[beattie]

THE IRISH !
I'd say the rest of europe are laughing their asses off at us !.

Agree with that sentiment. Anyone I have ever met in Europe cannot believe the prices that we overpay for our property and when they see the standard of the crap that is being built they laugh.......

 

[phoenix_n]

touching on 45,000 hits in less than one month.

Wasnt it over 39 thousand yesterday ? No way. Could it really have risen by 6,000 in 24 hrs.

 

[SteelBlue05]

Wasnt it over 39 thousand yesterday ? No way. Could it really have risen by 6,000 in 24 hrs.

That isnt really a huge amount. Each person may view the pages 10 times in a day, so 600 people may have read it, and there are a lot of users on this site. Plus we dont know exactly how the "views" are calculated, if you open a thread, then submit a new response, and then view it again then is that 1 "view" or 3 "views".

 

[CelloPoint]

I dunno, maybe living here when the whole thing collapses won't be so bad. Assuming your job won't be affected and you don't have a large mortgage hanging over your head, what will the problem be?

Probably snap yourself up a nice repossessed motor on the cheap too.

What makes you so sure you will be able to get a generous mortgage under such economic conditions? I don't own a house and have no intention of buying one in a crashed market just cos it's cheap. I save lots of money by renting and investing the difference. People say to me "but you can't live in equities" and I say to them "you can't live in Rathoath/Adamstown/Balbriggan either" (because I would have to sit in traffic for 2 hours a day to get to work). My savings will be leaving this country. I've a good job in the tech sector at the moment which looks reasonably secure for the short to medium term. A lot depends on the Irish economy. If anything, an economic crash may even be a good thing as it would drive our costs down - the sooner this happens, the better. It may just be too late - the market should have been reigned in years ago.

Why any young person or immigrant would stay in Ireland in the event of an economic crash is beyond me, let alone to want to commit to a mortgage in a gloomy economy.

 

[CelloPoint]

That isnt really a huge amount. Each person may view the pages 10 times in a day, so 600 people may have read it, and there are a lot of users on this site. Plus we dont know exactly how the "views" are calculated, if you open a thread, then submit a new response, and then view it again then is that 1 "view" or 3 "views".

Nowhere has anyone actually stated that 45,000 individual people have viewed this thread - I think everyone aware of the multiple hits factor. It's worth pointing that out, I agree.

Still, the stats are very impressive I have to say.

 

[room305]

If you mean that it will be cheap to buy. Yes. But the trick will be to know that you dont buy when the market has only hit a crevice , on the way to rock bottom. Maybe that might be a thread one day. 'Has the market hit rock bottom yet'.

No, I genuinely mean will be that bad to live here if the housing market crashes. Not - will I be able to get a cheap house - just simply, will it be bad to live here if I have a job and no mortgage but the housing market crashes?

Presumably there will be a recession and it is hard to see that being much fun.

 

[Dave_Post]

Why any young person or immigrant would stay in Ireland in the event of an economic crash is beyond me, let alone to want to commit to a mortgage in a gloomy economy.

Maybe because some people dont live their lives obsessed with money. If they have a job in a sector that is reasonably secure and can afford to own their own home, then why should they care?

I know this is a concept alien to AAM.

 

[miju]

Can we plesae stop about the gulf stream? If this kind of talk continues, the mod will shut this thread for going off topic. The previous record on AAM was 48,000 hits over 8 months. This thread is now touching on 45,000 hits in less than one month.

perhaps i should never have opened my mouth

where i live there's two properties side by side being "flipped" (i reckon because all the others are fully furnished and being lived in and these are your typical looking investor properties)

now i know it's the quite season but I'm REALLY keeping an eye on these 2 for a few reasons:

1: property is in dublin 11 and is 2 bed apt for €315,000 asking
2: could be considered an "ideal" investor property
3: could also be considered ideal FTB property
4: is right beside M50
5: takes about 15 mins to get into city centre
6: has so many amenities right beside them from pubs , shopping centre , well kept parks , clothes shops , cinemas , resteraunts etc
7: is a very quiet area away from heavy traffic (main roads are well fenced off with no immediate access , turns in about 30 metres away)

Would one not expected a property like above to be snapped up? I personally think it's a bargain (by todays ridiculous standards)

I've been waiting for the Sale Agreed sign or someone actually coming to view the property for 3 WEEKS so far something tells me it'll probably be another 3 weeks before I even get a glimpse of a person looking at it

 

[SteelBlue05]

Nowhere has anyone actually stated that 45,000 individual people have viewed this thread - I think everyone aware of the multiple hits factor. It's worth pointing that out, I agree.

Still, the stats are very impressive I have to say.

Well there are a lot of people who wouldnt understand hits and page views and that kind of thing. To some it would sound like an extra 6000 people read it in 24 hrs.

 

[room305]

What makes you so sure you will be able to get a generous mortgage under such economic conditions? I don't own a house and have no intention of buying one in a crashed market just cos it's cheap. I save lots of money by renting and investing the difference. People say to me "but you can't live in equities" and I say to them "you can't live in Rathoath/Adamstown/Balbriggan either" (because I would have to sit in traffic for 2 hours a day to get to work). My savings will be leaving this country. I've a good job in the tech sector at the moment which looks reasonably secure for the short to medium term. A lot depends on the Irish economy. If anything, an economic crash may even be a good thing as it would drive our costs down - the sooner this happens, the better. It may just be too late - the market should have been reigned in years ago.

Why any young person or immigrant would stay in Ireland in the event of an economic crash is beyond me, let alone to want to commit to a mortgage in a gloomy economy.

*sigh*

Nowhere, but nowhere did I suggest I wanted to buy a house when the market crash happens. I have constantly preached the opposite and am actively gearing up to sell my house.

I am just genuinely wondering if it would be bad to live here during a crash if I was in secure employment and renting.

 

[walk2dewater]

I dunno, maybe living here when the whole thing collapses won't be so bad. Assuming your job won't be affected and you don't have a large mortgage hanging over your head, what will the problem be?

Street protests. Political paralysis. Scapegoating. Crime. Unemployment. Depressed, miserable people.

Can you not see the scale of the crisis developing?

Edo and a few other posters have pointed out something extremely key to whats going on. Something I have only fully twigged in recent weeks, resulting in my view that property prices are heading much higher in the short term. We have a sorta fecklessness in this country, we do not want to face up to our problems and prefer to hide in the crowd. Deal with tomorrow, tomorrow. No connection between action and consequence is drawn, like some one ELSE will bail us out.

 

[ivuernis]

I am just genuinely wondering if it would be bad to live here during a crash if I was in secure employment and renting.

If you had a reasonable job and no debts then sure it would be as good
as anywhere I guess but you'd have to live with the social fall-out of a
property bust which mightn't be much fun. Maybe people like you who
sold out early would be blamed for starting the great big sell-off

 

[Dave_Post]

Seriously, I might start investing in apocalypse-proof shelters to sell to some of you guys