Current public sentiment towards the housing market?

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miju said:
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
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That is interesting, I have noticed a 2-bed beside me Booterstown which has been on the market for 3 months + ( if not more). I expect the seller has got a completely unrealistic price on it as it is in prime letting area so one would have thought it would have attracted the investor as well. There are about 400 apartments going to come on stream in a 1-mile radius of it so I suppose the seller missed the boat
 
SteelBlue05 said:
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.
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I hope you dont mean me or else i should quit been an IT consultant ! :)

But 6,000 hits is impressive in 24 hours. Funny tried googling a couple of queries to see if this site got any hits but none. Except wikipedia now has an entry for the Irish Property Bubble

miju said:
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
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You could try phoning up the EA. People are gonna get suspicious with you hanging outside the apartment all day. :)
I noticed a house across from me which was actually priced to sell and have phoned up twice. No offers. 2 months on market.
 
ivuernis said:
Maybe people like you who
sold out early would be blamed for starting the great big sell-off ;)
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Anyone who suspects my sale of a one bedroom bungalow in west Finglas caused a mass sell-off has bigger problems than even declining property prices ... :D
 
room305 said:
Anyone who suspects my sale of a one bedroom bungalow in west Finglas caused a mass sell-off has bigger problems than even declining property prices ... :D
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Why would you been blamed when there are a queue of buyers?
 
walk2dewater said:
Street protests. Political paralysis. Scapegoating. Crime. Unemployment. Depressed, miserable people.
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So only stick around if schadenfreude is your thing?
 
2Pack said:
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.
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I don't know a whole lot about this side of things.But as i understood it,what the other poster was saying was that the money was in fact owed to the bank that had securitised the loan and not to the irish bank(the irish person still has to pay it of course,i know that's the point your making) but the point is if the irish bank sells off all it's "guaranteed" loans leaving its self with all the riskier one's if there is a property crash it could be on very shakey ground.This is bordering on criminal irresponsibility on an enron scale IF this is going on.
 
Most Irish people do not have HUGE 200k + mortgages.

Most of them that does is Dubs so who cares :D
 
dam099 said:
Merrill Lynch are about as reliable a source of information on this as the Estate Agents are i.e they both have their differing biases based on their own self interest.
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Totally disagree. Merrill Lynch is one of the world's leading financial management and advisory companies. I would take notice of what they say over EAs who have a vested interest.
 
Merrill Lynch surely underwrite an awful lot of mortgage debt, such as the already mentioned securitisation of mortgages, and generate huge fees by doing so.

I would not think that they would have a vested interest, as implied earlier, in there being a property collapse.
 
Totally disagree. Merrill Lynch is one of the world's leading financial management and advisory companies. I would take notice of what they say over EAs who have a vested interest.
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I bet Enron investors are glad they took notice of Merrill's buy recommendations.
 
Glenbhoy said:
I bet Enron investors are glad they took notice of Merrill's buy recommendations.
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On the face of it, Enron looked like a decent investment. How were Merill Lynch supposed to know that Enron were cooking their books?
 
CapitalCCC said:
Merrill Lynch surely underwrite an awful lot of mortgage debt, such as the already mentioned securitisation of mortgages, and generate huge fees by doing so.

I would not think that they would have a vested interest, as implied earlier, in there being a property collapse.
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Not in a collapse as that would have knock on effects on the wider economy but regardless of the fact that they may do some securitisation of mortgages they are primarily a broker and investment banker with a vested interest in people investing their money in equities and not property which is a competing asset class for peoples investments.

I fully agree by the way with the fact that Estate Agents have a vested interest too I was just stating that both have have potential interest in spinning a particular view.
 
phoenix_n said:
:) I was waiting for someone to spot that. I even left the original font face to make it easier.

Nice of you to contribute.
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Not at all

As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide.
 
"Some securitisation of mortgages" - ha!

They do billions I am sure and being an investment bank they would undertake massive commercial property deals as quickly as they would undertake LBOs and MBOs so do not compare them to "The equity version of estate agents" please.
 
dam099 said:
Not in a collapse as that would have knock on effects on the wider economy but regardless of the fact that they may do some securitisation of mortgages they are primarily a broker and investment banker with a vested interest in people investing their money in equities and not property which is a competing asset class for peoples investments.

I fully agree by the way with the fact that Estate Agents have a vested interest too I was just stating that both have have potential interest in spinning a particular view.
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So you think Merrill Lynch are spinning the news?


[broken link removed]
 
CelloPoint said:
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.
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The very fact that Irish people,particulary smart Irish people run away when things get tough is one of the reasons why Ireland has for decades been an economic and social disaster.
For all the flag waving that the Irish do,they certainly can't be too patriot if their doing it from abroad.
As JFK once said(of Irish stock ,Ironicaly) "Think not what your country can do for you but what you can do for your country".
The smart people need to stick around,spread their genes,make decent political parties and vote them into power.
 
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