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House Prices

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  • 31-01-2009 11:55am
    #1
    Maccattack
    Closed Accounts Posts: 1,322 ✭✭✭


    A question to people who own property I guess.

    Are you worried?


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    #2
    nouveau_4.0
    Closed Accounts Posts: 162 ✭✭nouveau_4.0


    I don't plan on selling anytime in the short term, so I couldn't care less what house prices are.

    So no.


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    #3
    themadchef
    Closed Accounts Posts: 5,813 ✭✭✭themadchef


    No because when this house was built it was built as a home. It doesnt matter to me if it's worth €1 million or €1 because it will never be sold.

    I suppose if i were to look to borrow money in the future the value of the house would be in question though. We started building in 2003, self build so negative equity is a long way off thank God....that's not to say it wont ever be in negative equity though with the way things are going.

    I worry more about interest rates and having a job in the morning.


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    #4
    mukki
    Closed Accounts Posts: 2,669 ✭✭✭mukki


    i presume the op meant property as opposed to a home


    not worried as i am not in that boat either,

    should put up a poll how many houses do you own


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    #5
    Maccattack
    Closed Accounts Posts: 1,322 ✭✭✭Maccattack


    Yeah I suppose people with 'investment' properties will be affected more so than 'home owners'.


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    #6
    hotredhead
    Closed Accounts Posts: 89 ✭✭hotredhead


    I agree with the madchef. More concerned with interest rates and job security.We bought our home to live in and will never sell.(Please God!!)
    I'll let my daughter worry bout that when we cark it :D


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    #7
    jhegarty
    Registered Users Posts: 6,440 ✭✭✭jhegarty


    My mortgage is way down. As long as I need to live here I couldn't care less what it's worth.


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    #8
    mollzer
    Registered Users Posts: 255 ✭✭mollzer


    Well I for one am worried as I want to move out of Dublin and no houses are selling in my area.

    So my family and I are stuck because buyers want to wait until prices go down further but does that mean ordinary people just wont buy homes (as opposed to investors) until they feel prices are right? but when will that happen??


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    #9
    pathway33
    Registered Users Posts: 2,229 ✭✭✭pathway33


    mollzer wrote: »
    Well I for one am worried as I want to move out of Dublin and no houses are selling in my area.

    So my family and I are stuck because buyers want to wait until prices go down further but does that mean ordinary people just wont buy homes (as opposed to investors) until they feel prices are right? but when will that happen??

    if you want to move you have to be 25% less than comparable houses. It's a tough pill to swallow but that's the only way you will get an offer. Of course if you are in negative equity you can't do that I suppose. If you have equity, sell now and rent till the bottom of the market arrives. What you take for your house now may seem like a lot in 2 years. best of luck


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    #10
    Dob74
    Registered Users Posts: 1,049 ✭✭✭Dob74


    Maccattack wrote: »
    A question to people who own property I guess.

    Are you worried?


    No, I have seen the value of my house grow in the last 6 years. This has been no benefit to me. The only people who it will affect are the investors.
    It will actually help me when I trade up.
    It made me sick to hear Michael O'Flynn on the radio this morning. The banks are NOT putting him under pressure. If they put pressure on him he will drop his prices. As soon they hit bottom they will start to rise again and then we will know where we stand.


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    #11
    HashSlinging
    Closed Accounts Posts: 3,413 ✭✭✭HashSlinging


    I dont care I have a dream house (3 bed semi) that I thought I'd never have for my kids, saved for 8 difficult years, paying creche fees, loans, rent etc.. no plans to ever move out. The area has everything you could want...schools, parks, walks (pubs)..zombies

    I would be worried about my job and being able to meet the payments though if I lost it.. keeps me awake at night I dont watch the news or listen to the radio and if that happens well I'll have to deal with it.


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    #12
    Senna
    Registered Users Posts: 8,800 ✭✭✭Senna


    Dob74 wrote: »
    As soon they hit bottom they will start to rise again and then we will know where we stand.

    Not going to happen, by the time the market bottoms out, property will be a dirty word in Ireland. We wont see prices start to jump up again, the best investors will hope for is increases in-line with inflation.
    There will be another property boom in the future, but we have a couple of years of decreases yet to come and then maybe 5/10 years of price stability, i.e. possible inflation increase in the later stages.


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    #13
    um7y1h83ge06nx
    Closed Accounts Posts: 5,029 ✭✭✭um7y1h83ge06nx


    I'm a little worried.

    As long as I keep a job, I can pay my mortgage. (fingers crossed)

    I may want to sell my house in 6-7 years, so hopefully things will be recovering by then.

    Interesting times.


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