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Two tier Housing Market Apartments v Houses

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  • 06-01-2011 7:08pm
    #1
    finnegan2010
    Registered Users Posts: 289 ✭✭


    Was just listening to Radio 1 there on the drive home. The economist Karl Deeter was on
    He was talking about Fixed interest rates going up a LOT this year among other things he mentioned a 2 tier market that has developed or is developing.
    He asserts 3 bed semis and 4 bed market strong while the apartment market is in free-fall.
    We have all heard that prices are back at 2002 prices as an average. so does this mean for instance apartment prices are back to say 00 or even 1999 prices?


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    #2
    astrofool
    Registered Users Posts: 16,646 ✭✭✭✭astrofool


    If you go over to the pin, you'll find a few people asseting that apartment = house for all intents and purposes.

    This of course isn't true, and most people wanted a house (3bed+) but made do with an apartment while it was gaining equity.

    They all have to sell now, and lots more were built in stupid places, leading to a glut of family un-friendly apartments on the market driving the price down.


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    #3
    EricPraline
    Registered Users Posts: 486 ✭✭EricPraline


    finnegan2010 wrote: »
    Was just listening to Radio 1 there on the drive home. The economist Karl Deeter was on
    A minor point, but he's a mortgage broker, not an economist.

    This week's Daft report also talked about a two-tier market, but that was more referring to Dublin and other cities, versus the rest of the country.

    I haven't seen figures in any recent report that indicate that demand is "strong" for any type of property in any location.


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    #4
    Mr. Loverman
    Closed Accounts Posts: 4,001 ✭✭✭Mr. Loverman


    finnegan2010 wrote: »
    We have all heard that prices are back at 2002 prices as an average

    Are they really though? The only people who are saying that are those with a vested interest in people buying again, e.g. estate agents.


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    #5
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    EricPraline wrote: »
    A minor point, but he's a mortgage broker, not an economist.

    .

    actually hes an economist that works for a mortgage broker. ;)


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