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April Price Drops Biggest on Record

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    #32
    BendiBus
    Closed Accounts Posts: 2,074 ✭✭✭BendiBus


    oceanclub wrote: »
    JOL wrote:
    It would benfit our economy no end if we could jump start the property market again, and I would welcome anybodies suggestions as to how it could be done.
    It's unbelieveable that someone who lived through a property bubble, and has seen what the damage it has wrecked Ireland's affordability as a tourist and investment destination, could could out with this nonsense. It goes to show that many people still haven't learn the lessons of the bubble.

    It depends on what JOL meant.

    Getting the property market starting again would be a good thing. A market simply means activity - buying & selling of property. Ideally there would be an active market but at correct prices.


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    #33
    MG
    Closed Accounts Posts: 823 ✭✭✭MG


    And the April fall doesn't really take into account the supplementary budget effect on take home pay:eek:


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    #34
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    MG wrote: »
    And the April fall doesn't really take into account the supplementary budget effect on take home pay:eek:

    Very good point.

    Has any of the 'Once the mentality changes, and it will, prices will bottom out and start to rise quickly when the thousands sitting on their hands jump into the market' posters looked at their May wage slip yet?

    I have, its down quite a bit.

    They(thousands of buyers) may jump in but their purchasing power will be seriously eroded to force prices to 'rise quickly' so what may happen is stability in prices for a very long time.(stability=good)


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    #35
    blah
    Registered Users Posts: 938 ✭✭✭blah


    JOL wrote: »
    I believe our Government, Financial instutitions and Auctioneers should all get together with their few brain cells between them and agree prices for regions of the country
    Government? Who relied so much on Stamp duty income for the last decade?
    Financial Institutions? Who handed out massive mortgages like sweets and now need to be bailed out?
    Auctioneers? Who earn more when the selling price is higher?
    I don't think they are the best people to do this task, if it was to be done.
    JOL wrote: »
    It would benfit our economy no end if we could jump start the property market again, and I would welcome anybodies suggestions as to how it could be done.

    I have another idea. Instead of building, then buying and selling houses to each other with borrowed money, why don't we produce something? Like raw materials or manufactured goods, if possible. Or knowledge, provide services and most importantly be competitive.

    If I can buy a house for €150,000, you don't need to pay me a high salary and I can still afford to live well, and the company I work for can compete and be successful.

    Of course Ireland is still largely affected by the world economy, but "jump starting the property market" is not the solution.


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    #36
    Fr0g
    Registered Users Posts: 594 ✭✭✭Fr0g


    It was flagged early on, that the government could either let the market fall and get it over with as soon as possible OR try to prop up the housing market and drag the recession out longer than necessary (as with Japan). It seems they chose the latter so I am afraid we are in this for the long haul. that is why prices have been slow to drop (we are now in the 3rd year of this property crash)
    JOL wrote: »
    I believe our Government, Financial instutitions and Auctioneers should all get together with their few brain cells between them
    I have a better idea. Why don't they all f**k off and leave the market alone and let it correct itself
    JOL wrote: »
    It would benfit our economy no end if we could jump start the property market again, and I would welcome anybodies suggestions as to how it could be done.

    Words fail me :rolleyes:
    blah wrote: »
    I have another idea. Instead of building, then buying and selling houses to each other with borrowed money, why don't we produce something? Like raw materials or manufactured goods, if possible. Or knowledge, provide services and most importantly be competitive.


    Precisely, an economy based on manufacturing and exports. But isn't this what he had before FF decided to replace it with an economy based on a ponzi scheme fuelled by debt?


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    #37
    bobbiw
    Closed Accounts Posts: 211 ✭✭bobbiw


    The market will fall for some time to come.

    Wait till Q3 and see the rate of the fall.

    The market is correcting itself. Thing is it needed to do that in 2002 not 2008.

    By any standards Ireland was overpriced. Why should an ocean view property in California be worth the same as a 3 bed in Rathfarnham.


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