OECD - Houses Overpriced??

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Martina

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Anyone see the artical on the papers today where the OECD has said that houses in Ireland are overpriced by 15%.
Seemly the Central Bank acknowledged this too!
What do you think?
I suppose this is better news for people who are about to buy but not so good for people who have already bought?
 
Martina said:
Anyone see the artical on the papers today where the OECD has said that houses in Ireland are overpriced by 15%.
Seemly the Central Bank acknowledged this too!
What do you think?
I suppose this is better news for people who are about to buy but not so good for people who have already bought?
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There are a lot of factors in this to consider. Prices are 15% overpriced because people are willing to pay those prices. Are those behaviours going to change in the short term? I dont think so.

Dublin may be 15% or more overpriced but the demand is so high there is no way prices will decrease.
 
Depends on the definition of "overpriced"

I don't think we need the OECD to tell us that people are paying maybe €400,000 for a house that cost €150,000 to construct taking into account the price of the labour, land and materials.

z
 
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