We are one of the most open economies in the world and we rely completely on tax receipts from Multinationals who make their money outside Ireland. I believe that a recession, a real one, is inevitable. I believe that Europe will be particularly badly hit due to our short sighted policy of relying on Russia for energy.With the ECB rising rates to beat the band plus the energy crisis and overall sentiment in the news etc, it does seem that we are headed into a recession. But with the rising cost of energy largely self-inflicted, low unemployment, housing shortage and it seems no shortage of cash in government coffers, am I deluded in thinking that it's more of psychological one in that we're talking ourselves into it.
Thoughts?
The MNC's in Ireland are largely involved in fairly recession resistant industries, Pharma, med devices, IT. These are not as susceptible to recession as the fashion, luxury etc. industriesWe are one of the most open economies in the world and we rely completely on tax receipts from Multinationals who make their money outside Ireland. I believe that a recession, a real one, is inevitable. I believe that Europe will be particularly badly hit due to our short sighted policy of relying on Russia for energy.
I agree. Old people consume medical and pharma products and they have the most money and the least debt but they aren't immune from a recession either.The MNC's in Ireland are largely involved in fairly recession resistant industries, Pharma, med devices, IT. These are not as susceptible to recession as the fashion, luxury etc. industries
You might be right but the robustness of the MNC's through covid was entirely driven by unprecedented levels of money printing all over the world.GDP is skewed so much by multinationals - I think Ireland technically will not enter "2 quarters of negative growth". The multinationals revenues will remain resilient, even through tough times like we saw in covid. But there will be a recession on the ground for citizens and local businesses in Ireland.
It's more than possible but may not mean very much. Does anyone remember the Irish "recession" of 2015-16? No, but real GDP still fell for three consecutive quarters because of what MNCs were doing.GDP is skewed so much by multinationals - I think Ireland technically will not enter "2 quarters of negative growth".
If you can afford the house and are happy to live there for decades then make the move.I'm about to trade up and trying to take an educated guess as to whether this is a good or terrible move given current sentiment.
True, but last time I bought was in 2007 and have only just recovered from that. So I'm understandably wary of getting it wrong again. Timing really is everything.If you can afford the house and are happy to live there for decades then make the move.
A house is mainly for living in, not an investment vehicle.
As I said, think in decades!but last time I bought was in 2007
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