Property Prices-People deluded.

zyndacyclone · 14-06-2011 1:16pm

Just cause I'm buying a home to live in it, doesn't mean that I'm fine with paying 60k+ more than it's worth. That 60k will improve my quality of life just as much as owning a home will. Which is what the original topic of the thread was (you know, the interesting topic).

D3PO · 14-06-2011 1:23pm

zyndacyclone wrote: »

Just cause I'm buying a home to live in it, doesn't mean that I'm fine with paying 60k+ more than it's worth. That 60k will improve my quality of life just as much as owning a home will. Which is what the original topic of the thread was (you know, the interesting topic).

thats frankly a rediculous comment. Nobody wants to pay more than anythig is worth but a bit of balance and reality here please.

Buying all your clothes from penny's or a charity shop and buying yellow pack instead of branded food will save you a lot more than the 60k you quote above over a lifetime.

if it you want to get very extreme deciding not to have children to have a better quality of life would be the best financial decision the majority are likely to make. Yes now this is a stupid comment on the same level as many of the comments on this thead.

That would improve your quality of life to, but is that your approach to food and clothes buying ...... Didnt think so.

Im sure all the "gurus" here do this though oh and Im sure they have maxed their AVC's and have sent themselves up as companies to get paid to avial of tax shelters and and and and .....

everybody can do things more money efficent that the reality however for a multitude of reasons with range from being lazy, unaware, to being content and everything in between mean thats not reality.

so all this paper matchs stuff is francky no more than a crock.

Damie · 14-06-2011 1:31pm

D3PO wrote: »

thats frankly a rediculous comment. Nobody wants to pay more than anythig is worth but a bit of balance and reality here please.

Buying all your clothes from penny's or a charity shop and buying yellow pack instead of branded food will save you a lot more than the 60k you quote above over a lifetime.

if it you want to get very extreme deciding not to have children to have a better quality of life would be the best financial decision the majority are likely to make. Yes now this is a stupid comment on the same level as many of the comments on this thead.

That would improve your quality of life to, but is that your approach to food and clothes buying ...... Didnt think so.

Im sure all the "gurus" here do this though oh and Im sure they have maxed their AVC's and have sent themselves up as companies to get paid to avial of tax shelters and and and and .....

everybody can do things more money efficent that the reality however for a multitude of reasons with range from being lazy, unaware, to being content and everything in between mean thats not reality.

so all this paper matchs stuff is francky no more than a crock.

Oh god the irony!

Does anyone remember what the OP of the thread is about? Seems people are jumping off in tangents and trying to convince everyone who's right/wrong....think its time to move on

niallers1 · 14-06-2011 1:33pm

dabestman1 wrote: »

I was talking to a neighbour who believes that his house has not gone down in value in the last year,i told him otherwise. He's not an idiot but seems deluded in relation to the valuation of his property. A couple of other people are saying the same. Do these people not read newspapers, the news or are they simply deluded? Anyone else find this annoying?I assume there are other people living in denial.

He will only know if the value of his house has gone down when he sells it or looks to release equity.

Until then there is no point worrying about it if he is happy to live there.

What does it matter to you anyway. Are you looking to buy a house?

And if there are enough "deluded" people out there who will not sell their house below a certain level then that will be the price in that area until they are enough people willing to sell at a lower price, are forced to sell or have to sell.

TommyTippee · 14-06-2011 1:33pm

ShadowHearth wrote: »

I presumet most of people understood what I ment by my comment, but I can explain for a bit ... Slower... People.

I want a place to call home. Not an investment. I want my children to grow up and call that place home, not a fecking hole my parents were renting all theyr life. I want freedom to decide what I want in my place, not what landlord decided.

It might be a shocker lad, but some people buy homes to live in not to invest in to them and make a few fast quid. Idiots, I know!

I work for a bank. Thank god people like you exist, with your pitiful misty-eyed view of house buying. It gave me a very nice bonus last April.

It's not even worth explaining how ridiculous your points are, as you seem to be willing to pay any price for your violin-playing "children to grow up and call that place" home bollox.

D3PO · 14-06-2011 1:36pm

TommyTippee wrote: »

I work for a bank. Thank god people like you exist, with your pitiful misty-eyed view of house buying. It gave me a very nice bonus last April.

It's not even worth explaining how ridiculous your points are, as you seem to be willing to pay any price for your violin-playing "children to grow up and call that place" home bollox.

well you of all people have no credibility then. You and your sheep like collegues couldnt see your hand in front of your faces not to mind actualyl pretending that you know anything about property market fundamentals.

how many millions did your lack of knowledge cost me and the rest of this country by the way ?? :rolleyes::rolleyes:

kippy · 14-06-2011 1:39pm

TommyTippee wrote: »

I work for a bank. Thank god people like you exist, with your pitiful misty-eyed view of house buying. It gave me a very nice bonus last April.

It's not even worth explaining how ridiculous your points are, as you seem to be willing to pay any price for your violin-playing "children to grow up and call that place" home bollox.

He didnt say he would pay any price?? Not sure where you are getting that from.
He made it obvious he didnt mind that the "value" of his house had dropped in the space of a few years.
I would assume he doesnt plan on selling it any time soon and as such that "value" isn't released until then and god knows what property will be worth in 20-30-40 years time.

ShadowHearth · 14-06-2011 1:42pm

TommyTippee wrote: »

I work for a bank. Thank god people like you exist, with your pitiful misty-eyed view of house buying. It gave me a very nice bonus last April.

It's not even worth explaining how ridiculous your points are, as you seem to be willing to pay any price for your violin-playing "children to grow up and call that place" home bollox.

Ah sorry lad. Before I was 16 I changed 12 places. I lived in 1 room 1 kitchen apartment sharing it with 4 ather people. I was happy just to not live on the street. Amd yup, I don't want my children to repeat all this. I want to have a place of my own.

I don't like going to pubs or spend money on ****, food in restaurants, or clothes. I better spend it on something I want.

I took 80k mortgage and closing deal on a small house. I love it. And it will be my place now.

There is nothing good about you saying that you are working in bank. And I love that all these people payed to bale your sorry ass, and now you mocking your own customers who pay your wages, for having a dream of owning a home.

You are good m8.

ricman · 14-06-2011 1:56pm

Prices are going down 1 per cent a month,look at ten houses in the area on daft ie ,whats the average price for a 3bed house.IF some people are deluded its cos they want to be,or else they are naive or stupid.After nearly destroying the economy bankers are still getting a bonus, the government should have a commitee going thru the pay structure and bonus rules of all the banks they own.Its like certain semi states its seems theres no mechanism to stop giving out bonus,es.It seems the banks have almost no morality,if they can get away with it ,they,ll do it, eg selling 80 year old pensioners ten year investment bonds.As we see in the usa ,bankers and light regulation = economic disaster,corruption ,fraud ,plus the tax payer is left with the bill.

CiaranC · 14-06-2011 2:43pm

This thread is hilarious, "I hated house sharing so I bought a house and rented some rooms out", "I need to own material things to be happy" and "A house is not a home unless it comes with a crippling mortgage" being three of my favourites.

Fools and their money are easily parted.

ShadowHearth · 14-06-2011 3:00pm

CiaranC wrote: »

This thread is hilarious, "I hated house sharing so I bought a house and rented some rooms out", "I need to own material things to be happy" and "A house is not a home unless it comes with a crippling mortgage" being three of my favourites.

Fools and their money are easily parted.

:rolleyes:

TommyTippee · 14-06-2011 3:37pm

ShadowHearth wrote: »

I don't like going to pubs or spend money on ****, food in restaurants, or clothes. I better spend it on something I want.

Mortgage interest then. (My bonus, thanks)

TommyTippee · 14-06-2011 3:43pm

ShadowHearth wrote: »

Ah sorry lad. Before I was 16 I changed 12 places. I lived in 1 room 1 kitchen apartment sharing it with 4 ather people. I was happy just to not live on the street. Amd yup, I don't want my children to repeat all this. I want to have a place of my own.

https://www.youtube.com/watch?v=njG7p6CSbCU

kippy · 14-06-2011 3:55pm

CiaranC wrote: »

This thread is hilarious, "I hated house sharing so I bought a house and rented some rooms out", "I need to own material things to be happy" and "A house is not a home unless it comes with a crippling mortgage" being three of my favourites.

Fools and their money are easily parted.

You didnt hear them from me..........

kippy · 14-06-2011 3:56pm

TommyTippee wrote: »

Mortgage interest then. (My bonus, thanks)

At this point I don't know whether to take you seriously or not. I won't be replying to you after this.

ShadowHearth · 14-06-2011 4:09pm

TommyTippee wrote: »

Mortgage interest then. (My bonus, thanks)

you are actuolly a scumbag. A bank scumbag that we baled out?

i would love your supperiors to find out about you,boy. mr. bank worker.

i honestly did not had so much discust in me to anyone for awile now, you top the charter.

welcome to ignore list. sooner or later you will pay for your cheekines,boy.

i bet that good few people in here would love to kick your teeth in. just pray no one finds out your indentity.

MuffinsDa · 14-06-2011 4:13pm

ShadowHearth wrote: »

you are actuolly a scumbag. A bank scumbag that we baled out?

i would love your supperiors to find out about you,boy. mr. bank worker.

i honestly did not had so much discust in me to anyone for awile now, you top the charter.

welcome to ignore list. sooner or later you will pay for your cheekines,boy.

i bet that good few people in here would love to kick your teeth in. just pray no one finds out your indentity.

Firstly, I sympathize with your anger.

Secondly, and on a much lighter note, does anyone else hear a Cork accent coming through there or am I imagining it?

ShadowHearth · 14-06-2011 4:16pm

MuffinsDa wrote: »

Firstly, I sympathize with your anger.

Secondly, and on a much lighter note, does anyone else hear a Cork accent coming through there or am I imagining it?

lol sorry. i am not irish, but i live in co. cork for the last 6 years. ussually people make fun of me, that i speak: irish/cork/american accents mix. english is not my native language too.

jackal · 14-06-2011 5:29pm

The "look how much I have saved by not buying property, aren't I great" crowd are just as distasteful now as the "paper millionaire home-owner" crowd were in 2006, give it a rest.

I have not bought, could see it was a bubble, am happy enough not to have a large mortgage and negative equity. However renting property in Ireland is no picnic, the standard is generally really poor and the landlords amateurish.

Most of my mates did buy at some point over the past decade, some don't care as they are living where they want to for the foreseeable future, some have negative equity but like the house and can afford the mortgage, and some bought tiny places for huge money and are stuck where they are for the foreseeable, come what may.

All different stories and only a couple of years between all their purchases. I certainly would not be laughing in their faces and telling them how much they could have saved. At the time I did talk to some of them, pre-purchase, but my "advice" fell on deaf ears - sure what did I know, I am just a.n. other random punter with an opinion in fairness.

The bubble was prolonged, pervasive and insidious, becoming an accepted part of life in Ireland. Houses going up in value every year, sometimes in double digits - became the norm. For a generation of Irish people unfortunately they were trying to buy a place to live in the middle of a massive speculative property bubble, with the media, the government, their peers and parents all telling them to buy.

It sucks, and whatever coping mechanisms those who are worst affected wish to adopt, I would not be trying to argue the point with them, and please remember that loads of people who bought are actually happy and getting on with life, its not quite the gloom-fest the media is now portraying.

dan_d · 14-06-2011 5:39pm

It's getting a bit repetitive round here...

And who actually admits to being a banker these days?!! Silly, silly!!:p

Victor · 14-06-2011 5:40pm

TommyTippee wrote: »

Mortgage interest then. (My bonus, thanks)

While what you say may be true, there is no need to rub it in peoples' noses.

ShadowHearth wrote: »

you are actuolly a scumbag. A bank scumbag that we baled out?

i would love your supperiors to find out about you,boy. mr. bank worker.

i honestly did not had so much discust in me to anyone for awile now, you top the charter.

welcome to ignore list. sooner or later you will pay for your cheekines,boy.

i bet that good few people in here would love to kick your teeth in. just pray no one finds out your indentity.

Less of the abuse please.

TommyTippee · 14-06-2011 6:58pm

ShadowHearth wrote: »

you are actuolly a scumbag. A bank scumbag that we baled out?

i would love your supperiors to find out about you,boy. mr. bank worker.

i honestly did not had so much discust in me to anyone for awile now, you top the charter.

welcome to ignore list. sooner or later you will pay for your cheekines,boy.

i bet that good few people in here would love to kick your teeth in. just pray no one finds out your indentity.

You do realise that most employees of a bank get a bonus from the bank's profits?

Are these 100,000s of people "scumbags" too that should be threatened with getting their "teeth kicked in"?

I am advising you and your ilk NOT to take over-priced mortgages out and this is the ill-informed abusive tripe you come out with

christ almighty

up4it · 14-06-2011 7:04pm

Tommy: You make some good points but then undo it with snide remarks to people. (It is called trolling)

If you always know the right answer, how come the banks ended up in such a mess then?

Shadow only has only taken out an 80k mortgage and is living within his means and being realistic for long-term security. If everyone took out such small mortgages that then your bonus would be a paltry amount. (Not that bankers deserve any bonus at all.)

Shadow: Don't let the trolls wind you up so easily!

The_Conductor · 14-06-2011 7:10pm

I'm getting seriously annoyed in this thread.
TommyTippee- when you make snide and derogatory comments about people- you will get retribution- thats the only reason I haven't banned anyone here- people gave as good as they got.......
Word of warning to everyone- less of the snide comments, derogatory remarks, personalisation of posts delibertly to rile people, low grade trolling etc- my fuse here is very short- you will be banned if you are not civil to your fellow forum users.

You have been warned. If you're unsure whether your post is allowable or not- read the forum charter- if you're still unsure- PM Victor or myself. If after all this- you go on to try to get digs in at other forum users- you will be banned, you will not be warned any further- you will be banned period.

This goes for everyone.

Regards,

SMcCarrick

TommyTippee · 14-06-2011 7:10pm

up4it wrote: »

If you always know the right answer, how come the banks ended up in such a mess then?

I'm not running the banks, I am merely an employee and we did, and are doing, alright.

This thread was originally about the prices of property still being far too high and the sellers being deluded about the real value of their homes.

It is the emotional, and many times angry responses of those in negative equity or tied to ridiculous long-term loans who bleat on about renting "fecking holes" and teary-eyed tributes to their children inheriting their home, like they are inheriting Southfork rather than an overpriced 3-bed semi in Ongar.

THAT is what put the economy in the state is in now. People buying out of emotion rather than using their intelligence....well, what they have of intelligence.

And that is why they are still deluded. They refuse to acknowledge the reality of the situation. The quicker they cop on, the quicker Ireland can move on and dig itself out of their mess.

ShadowHearth · 14-06-2011 7:15pm

up4it wrote: »

Tommy: You make some good points but then undo it with snide remarks to people. (It is called trolling)

If you always know the right answer, how come the banks ended up in such a mess then?

Shadow only has only taken out an 80k mortgage and is living within his means and being realistic for long-term security. If everyone took out such small mortgages that then your bonus would be a paltry amount. (Not that bankers deserve any bonus at all.)

Shadow: Don't let the trolls wind you up so easily!

M8, I got him ignored so I don't see his bull****. He has nothing intelligent to say, and I doing want to get banned because of troll.

I just wish him best of luck.

TommyTippee · 14-06-2011 7:16pm

smccarrick wrote: »

TommyTippee- when you make snide and derogatory comments about people- you will get retribution- thats the only reason I haven't banned anyone here- people gave as good as they got.....

Fair enough, I apologise.

But this....

Originally Posted by ShadowHearth
you are actuolly a scumbag
sooner or later you will pay for your cheekines,boy
i bet that good few people in here would love to kick your teeth in. just pray no one finds out your indentity.

...is totally unacceptable on this forum. I am amazed they have not been banned. This is pure anger at the situation the poster finds himself and to put the blame on me because I work in a bank would be laughable, if it wasn't so abusive.

up4it · 14-06-2011 7:29pm

In the London (UK) area in the 1990s, many people ended up in serious negative equity and were in panic mode as they had mortgaged themselves to the hilt and interest rates then hit 13.5%. Many expected the government to bail them out which they didn't!

But later, the property prices boomed and those that who sat tight profited big style when London prices boomed again from 2000 onwards. But I do not remember any of those same people offering to pay money to the government because they made huge profits.

So negative equity is not always the end of the World though it may seem like if for some at first. If you can afford to sit tight it can work out ok in the end.

kippy · 14-06-2011 7:41pm

up4it wrote: »

In the London (UK) area in the 1990s, many people ended up in serious negative equity and were in panic mode as they had mortgaged themselves to the hilt and interest rates then hit 13.5%. Many expected the government to bail them out which they didn't!

But later, the property prices boomed and those that who sat tight profited big style when London prices boomed again from 2000 onwards. But I do not remember any of those same people offering to pay money to the government because they made huge profits.

So negative equity is not always the end of the World though it may seem like if for some at first. If you can afford to sit tight it can work out ok in the end.

Indeed, negative equity is only a problem to those that:
1. Need to sell in a hurry.
2. Need to change mortgage providers.
3. End, for whatever reason, not being able to repay the mortgage - and this is an issue for all mortgage holders.

There are a lot of deluded people out there, and not just when it comes to working out what people will pay for their houses.
As I said, its only really when you go to sell your house you find it's current value.

The_Conductor · 14-06-2011 7:49pm

up4it wrote: »

If you can afford to sit tight it can work out ok in the end.

The end- can be 20 to 30 years though.
An almost unique aspect of the Irish problem- is the way people were conditioned into thinking about a property ladder- and it didn't matter what sort of crap they bought- as it was only a stepping stone towards where they aspired to be. Now we have 450,000 apartment dwellers nationwide- of whom in excess of 200,000 are in unsuitable accommodation- possibly a small 2 bed apartment- and they want to have kids........ Whatever about negative equity- this generation of people who are trying to have kids in small shoebox apartments with no gardens or play areas- are at very least as bad a part of the equation as is the negative equity........

Also- the UK situation is not as clearcut as you're suggesting- part of the reason for the 13.75% interest rate peak- was rampant inflation. Admittedly they now have a headline inflation of 4.5%- over twice the BOE target, however given the state of the economy they can't use interest rates as a brake as they did previously....... The ECB, in a similar vein, has a headline inflation rate of well over 3%- however the interest rates have far more leeway- possibly 3%- as an overnight rate of 4.5% is considered to be 'normalisation'.......

In an era of interest rates trippling from their current levels to 'normal' levels- its far from clearcut that the person who decides to sit out the carnage will even benefit in the long run........

Property Prices-People deluded.

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