Bullish or bearish & renter or owner

magpie

I do not own property and am bullish

incidently WITHOUT the property market slowing down prices will drop by 1% in the property market , with rises predicted of 5% at best over the course of next year and with inflation of 6% that's a fall in real terms .... so that's the top for the capital appreciation brigade of investors..... now with 100s of thousanfs of empty of properties around Ireland and no capital appreciation coupled with inventory already building up AS WELL as the expected rush for more properties being put up for sale in january things are going to get interesting

Do you have an erection?

miju

completely immature comment aside magpie (not suprised giving your "reasoning" for property declining as it hasn't so far so it wont in the future )

it quite frankly scares the **** outta me as when the downturn gets into full swing there will be financial mayhem for alot of people and this economy / country will suffer badly

Do-more

I do not own property and am bullish

miju wrote:

it quite frankly scares the **** outta me as when the downturn gets into full swing there will be financial mayhem for alot of people and this economy / country will suffer badly

I was reading a piece the other day which suggested that only the Japanese property boom has surpassed ours in it's lunacy. Japan has only now turned the corner having endured 14 years of property price declines or zero growth.

It is more normal to have declines of between 3 to 6 years, either way once the rot sets in it's going to be a rough and long ride.

Given the amount of people directly employed in the building industry and the even greater number who indirectly rely on it, it is unfortunately quite possible that we will see unemployment figures to challange the grey days of the eighties.

As I said before I think we will have grave social problems as a result. I travel around the Midlands most days and there is hardly a village or town that doesn't have a housing estate populated in whole or part by Dubliners who haven't been able to buy in Dublin and choose to purchase down the country and commute instead. Many of the smaller communities have no facilites whatsoever, not even a decent shop. What will happen if an appreciable percentage of these people become unemployed? Stranded without facilities or transport there will be widespread problems. Many in huge negative equity will choose to hand the keys to the bank and walk away. IMO many who have made such purchases have never even considered the prospect of being unemployed.

miju

Do-more wrote:

I was reading a piece the other day which suggested that only the Japanese property boom has surpassed ours in it's lunacy.

funny you should mention Japan , i read in the indo about one of the leading irish mortgage brokers making noises about possibly lobbying to bring in multi-generational mortgages about a month or so ago

i'll have to dig out that link , it's somewhere on the indo site

whizzbang

miju wrote:

funny you should mention Japan , i read in the indo about one of the leading irish mortgage brokers making noises about possibly lobbying to bring in multi-generational mortgages about a month or so ago

i'll have to dig out that link , it's somewhere on the indo site

how were they supposed to work? how can you commit someone to a contract if they are not even born yet? or is it a case of "If you want the house you have anther 15 years to pay on it after I pop my clogs"

Cantab.

I own a property and am bearish

whizzbang wrote:

how were they supposed to work? how can you commit someone to a contract if they are not even born yet? or is it a case of "If you want the house you have anther 15 years to pay on it after I pop my clogs"

What about interest-only mortgages? Aren't they the ultimate in inter-generational mortgages???