Bedsit said:Daft.ie says soft landing in sight
The reassurances are coming in thick and fast now. I remember someone saying earlier on this forum that we would be hearing things like this from the media in the near future. Here is the link:
(http://www.rte.ie/business/2006/0802/houses.html)
Firefly
For anyone who remembers queuing up with 15 to 20 people outside a pokey house to be "interviewed" by smug tenants (many of whom are still renting I might add) I can assure you that home ownership rocks. No landlords & no sh1tty furniture. You're working hard and deserve a nice gaff.
whathome said:Daft says house price growth has slowed :
http://www.rte.ie/business/2006/0802/houses.html
"general slowdown across the entire property market"
- you could tell it was weakening from a noticeable drop off in buyer interest, more property on the market etc.
The autumn selling season will be very interesting.
bogwarrior said:question for the people who say they'll cut and run if we hit a downturn - where do you intend going to?
bogwarrior said:As the cliche says 'If America catches cold, the rest of the world sneezes...'
No, myhome.ie advertises the largest amount of properties to purchase online in Ireland.beattie said:does daft.ie now have the most amount of houses advertised in Ireland (thus making it the best source of data?)
thewatcher said:What happens if the only gaff you can afford is in some kip in dublin or else 30 - 40 miles outside of dublin,do you really want to be stuck there for the next 10 -15 years.
My advice is to hold your ground and bide your time,build up as much cash as you can while renting.
The crash will come may be 6 months on the inside,may be 36 months on the outside but it's coming.
bogwarrior said:question for the people who say they'll cut and run if we hit a downturn - where do you intend going to?
We've had the whole daft debate already. I think everyone is pretty much agreed that daft.ie stats are not a market analysis. However, this is a public forum and we are in a thread about public sentiment in the current Irish property market. Nobody is purporting to have an MBA from the London School of Economics, therefore any sentiment expressed by a poster about daft stats is certainly valid in the context of a public message board - If daft stats make them feel more bullish/bearish, then that's how the poster thinks and nobody can stop this. Personally I think any statistics from daft.ie are a pretty good rule of thumb and nothing more because of: seasonal factors, vested interests, rogue houses for sale, site popularity, etc.Firefly said:Correct me if I'm wrong as I only heard a snippet of that Daft report
this morning, but aren't they just looking at asking prices and not selling prices?
Also did it not report that GROWTH rates had fallen and not actual prices?
Finally, the largest rental website in the country has a vested interest in reporting that rents are up 7% (going against everything the doomsayers on this thread are arguing..ie that rents are falling!!).
If prices are falling according to them, then why are rents rising???
Firefly.
House Prices Hang over a Sloping Hillside
Thankfully the cliff analogy is a bit extreme. Irish house prices are not hanging over the edge of a canyon. A sloping hillside is a more accurate, and comforting, analogy. Somewhat overvalued, the gap between where we are and where we should be isn't yet critical, a fall of several, rather than hundreds, of feet. But if house price inflation doesn't moderate soon, the gap could soon become too large to avoid a very painful correction.
The stock market crash of 1929 and the subsequent Great Depression cost Fisher much of his personal wealth and academic reputation. He famously predicted, a few days before the Stock Market Crash of 1929, "Stock prices have reached what looks like a permanently high plateau." For months after the Crash, he continued to assure investors that a recovery was just around the corner
room305 said:I've been giving this some serious consideration. The UK would be my preference but it too is vulnerable to a housing collapse. Other options would include France and Germany or the Scandanavian countries. I'll keep my options open and see how things play out globally. Luckily in the line of work I am in I could conceivably stay here and work contracts for companies based abroad.
I think that phrase is the other way round but the point is well taken. There may well be a global economic downturn.
Duplex said:
so are we are on the edge of a gently sloping hillside? What’s at the bottom of the hill?
Firefly said:How about this for a conspiracy theory....the Irish Times, in an elaborate attempt to move focus from proprty prices, is trying single-handedly to re-ignite the dot.com bubble by forking out 50m for a website!
phoenix_n said:Years ago i always had that in mind. Didnt want to end up in the UK if economy went belly up. Went to oz and got a passport. Its an option that i have.
whathome said:House prices are usually sticky on the way down making it look more like a sloping hill that continues down for a long time. The question is, how far do prices have to fall before we experience the "soft landing"? !!!
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?