Cost of housing forecast

mrgaa1

and tell me this where are you all going to emigrate to? every other country is f**ked as well - I'm going to say this again and again when are we going to grasp the nettle and do something? There are opportunities out there - buildings need to be upgraded for insulation etc.... I'm sure there are smart people out there thinking of new ideas. The irish government is in trouble - its made a lot of bad mistakes recently and its going to hurt. People are being let go, made redundant all over the place and the true figure is going to hit the fan in January. Banks need to be more friendly to their customers - we all need loans for various projects. They don't care about the small trader trying to make a living - the small trader who has 3-5 people working for them. They don't matter to the banks. This is where its so, so wrong. Morally the banks are wrong and they are scr**ing the wrong people. I say let Michael O'Leary take over for 12 months and run this country - we need leaders and people who will make things happen - not just sit around and talk about it.

latenia

grizzly wrote: »

Very different conditions, Albania suffered decades of rule under a despot.

It's not very different at all. In Ireland, as in Albania, a large percentage of the population were conned into gambling their financial future in a speculative bubble. Many of these people, while they won't be on the breadline, will be spending the rest of their lives far less comfortably than they thought. I don't see how Hoxha's era comes into it. If anything, it would probably leave the people more docile.

Shambo

smccarrick wrote: »

I don't think you'll be fighting Mrs. Nolan down the road for the last tin of beans in the Supermarket by any means- I wouldn't be surprised at localised rioting- most probably in conjunction with organised demonstrations/marches on the Dail, Minister's Constituency Offices etc.

A timescale? Well- next year is vague- but its probably not possible to get any clearer- its pretty much whenever the penny starts to drop about the trouble we are in.

Remember the 1980s when the country was in deep trouble? At that point in time private debt stood at roughly 36% of GDP and government debt at roughly 160% of GDP. Almost 65% of all government revenue was spent in servicing our debt.

The situation now is practically the inverse of where we were then- the government has very low debt (now about 40% and rising)- but the private debt is through the stratosphere- well over 160% of GDP.

People are being bled dry- a few more clankers like the 23% VHI rise in January, or Dell deciding to relocate to Poland- or Intel close the Fabs in Leixlip........

There was the perception that it wouldn't pay to rock the boat- but the perception is rapidly changing to "what have we to loose?" Giving in to the OAPs on the medical card was in my mind the start of a slippery slope. There is now a perception that if you demonstrate loud enough and cause sufficient embarrassment/trouble- that your particular issue will be accommodated.

We are a remarkably expensive country- with very high wages, dependent to a large extent on multinational employment.

The international environment is such that overseas facilities will be on the chopping block for multinationals sooner or later- and as an expensive location- we will be well up the list.

Economically we are dependent on factors over which we have extremely limited control. Socially- the government cannot be said to exercise control any longer (having been seen to capitulate in the face of demonstrations).

Will you be fighting Mrs Nolan for the last tin of beans. No, probably not. Will Mrs Nolan fling a brick through your car window out of spite because its a newer reg than hers, and she knows damn well she won't be able to afford a replacement car for years to come- far more likely than the fight over the tin of beans!

Spot on the SmC

Thsi is the biggest worry I have- at least in the 80's we were coming fromn the 70's where we had feck all but feck all debts.

Who here is up to their eyeballs in Visa/Mortgage/Car Loans etc??.

I work in logistics and imports are way down on last year- even the so called busy period of Oct/Nov has been a wsh out.

I'm very pessimistic abiut next year.

stevedublin

Run_to_da_hills was right all along!
Why didnt we listen to him!?!

ZYX

latenia wrote: »

It's not very different at all. In Ireland, as in Albania, a large percentage of the population were conned into gambling their financial future in a speculative bubble. Many of these people, while they won't be on the breadline, will be spending the rest of their lives far less comfortably than they thought. I don't see how Hoxha's era comes into it. If anything, it would probably leave the people more docile.

It was totally different in Albania. The pyramid scheme in Albania actually bought nothing. In Ireland people who bought a house still have a house even if in some cases it is worth less than the mortgage on it.

ntlbell

ZYX wrote: »

It was totally different in Albania. The pyramid scheme in Albania actually bought nothing. In Ireland people who bought a house still have a house even if in some cases it is worth less than the mortgage on it.

they might not have them for long.....

a lot has all ready lost them...

a house is only secure when the last payment is made.

Dob74

subway wrote: »

your going to need to prove that ASAP.

Go to www.cso.ie its in the monthy survey on the right side of the screen. Go to news releases, november 21, table 1A near the bottom. In black and white 25.2 less irish employed, 42.2 more irish unemployed. 0.0 change in non-irish employed, 11.1 more non irish unemployed.

baldieman

If ye think this is all bad, wait till ye see the weather thats comin!
And maybe why last summer was as bad as it was?

http://www.freerepublic.com/focus/f-news/2005746/posts

NewFrockTuesday

Bill, were going to have to more than catch a boat it seems. How are your spaceship building skills? New destination is the moon.


I hate the cold.

ZYX

Dob74 wrote: »

Go to www.cso.ie its in the monthy survey on the right side of the screen. Go to news releases, november 21, table 1A near the bottom. In black and white 25.2 less irish employed, 42.2 more irish unemployed. 0.0 change in non-irish employed, 11.1 more non irish unemployed.

So you are saying o% increase in non-irish employed and 11.1% more non-Irish unemployed. So how does that equate to 0 non-Irish lost their jobs?

Dob74

ZYX wrote: »

So you are saying o% increase in non-irish employed and 11.1% more non-Irish unemployed. So how does that equate to 0 non-Irish lost their jobs?

No. Look at the tables www.cso.ie. 11.1k more non irish unemployed. The same numbers of non irsh are working. 25.2 less irish working. 42.2k more irish unemployed

TwoShedsJackson

Karen Coleman who presents the Sunday morning review-of-the-papers show on Newstalk normally gets on my wick but I had to agree with her last week when she said that her fantasy (on the subject of politics ) was to present the Joe Duffy show for a few days and every person who rings in complaining about prices, the economy, etc. etc. she could ask them 'and who did you vote for in the last general election?'.

We talked ourselves into the property boom and the Celtic Tiger, which the government squandered, and now we've talked ourselves into a recession and have the most inept goverment we've seen in decades at the helm. Nice few years ahead.