Property prices are on the way back up!

Northern Monkey

I stumbled across this on twitter today.

https://twitter.com/PriceChanges

Monty Burnz

goodie2shoes wrote: »

yet more evidence of a bottoming out.

http://www.independent.ie/business/personal-finance/property-mortgages/hope-for-property-market-as-prices-rise-for-second-month-in-row-3241629.html

of course most posters on here will not want to accept this.

Odd that you disappeared when the falls resumed, only to pop up this time when some statistical blip sees prices not quite keep up with general inflation. On that basis, I'm pretty confident we won't be seeing you for at least 6 of the next 7 months.

Catweasel

As Mao said when asked was the French Revolution a success - it's too early to tell

WhatNowForUs?

Monty Burnz wrote: »

goodie2shoes wrote: »

yet more evidence of a bottoming out.

http://www.independent.ie/business/personal-finance/property-mortgages/hope-for-property-market-as-prices-rise-for-second-month-in-row-3241629.html

of course most posters on here will not want to accept this.

Odd that you disappeared when the falls resumed, only to pop up this time when some statistical blip sees prices not quite keep up with general inflation. On that basis, I'm pretty confident we won't be seeing you for at least 6 of the next 7 months.

if somebody could put up a picture of a broken clock that would be great.

seamus

Duggys Housemate wrote: »

Interesting, but Dublin continues to fall.

Earlier in the year, Dublin increased while rest continued to fall.

The most optimistic view you could possibly take is the "bouncing along the bottom" one, but even then without a consistent trend over 6 months (even if that trend is of going up and down), there's no way to say.

Idbatterim

property prices on way back up LOL! yeah just wait for the 3.5 billion adjustment in december and the rising interest rates and fuel prices prices that are also hammering away at disposable income and sentiment... Buy now while you still can, dont miss the boat...

Monty Burnz

Idbatterim wrote: »

property prices on way back up LOL! yeah just wait for the 3.5 billion adjustment in december and the rising interest rates and fuel prices prices that are also hammering away at disposable income and sentiment... Buy now while you still can, dont miss the boat...

And property taxes, and water charges. And ESB and gas hikes.

Yup, we are set for a boom.

goodie2shoes

when they do start to go up they will increase very rapidly as people panic about not getting best value.

most young people who have held back on buying will now be very anxious to get a place of their own. supply will be very limited because building has virtually ceased. landlords are returning to the market as they sense value. rents have increased, and interest rates are still very low.

these factors will exert upward pressure on prices, but personally i would like to see 6 months continuous growth.

Monty Burnz

goodie2shoes wrote: »

when they do start to go up they will increase very rapidly as people panic about not getting best value.

No, they won't. Total bullsh!t. Where will all the money come from to buy?

jmayo

Monty Burnz wrote: »

Odd that you disappeared when the falls resumed, only to pop up this time when some statistical blip sees prices not quite keep up with general inflation. On that basis, I'm pretty confident we won't be seeing you for at least 6 of the next 7 months.

I was just thinking the same myself. :rolleyes:
Is it great minds or fools I wonder ?
Maybe we should ask goodie2shoes as they are definetly in one of those categories.

goodie2shoes wrote: »

when they do start to go up they will increase very rapidly as people panic about not getting best value.

most young people who have held back on buying will now be very anxious to get a place of their own. supply will be very limited because building has virtually ceased. landlords are returning to the market as they sense value. rents have increased, and interest rates are still very low.

these factors will exert upward pressure on prices, but personally i would like to see 6 months continuous growth.

You just keep on giving.

I always notice how you disregard economic realities such as lower disposable incomes, higher costs and wait for it, fook all lending.

jsn.peters

House prices go up ? just in time for the government to get more money out of us with the property tax ( tax based on house price ) me smells a rat

Zamboni

goodie2shoes wrote: »

most young people who have held back on buying will now be very anxious to get a place of their own.

With what? Buttons?
You are a very successful wum.

goodie2shoes

Zamboni wrote: »

With what? Buttons?
You are a very successful wum.

the banks just like everybody else will jump on the bandwagon just as they did last time round.

remember all those 100% mortgages?
do you really think they were figments of people's imagination?
do you honestly believe the banks will not lend if they think there's profit to be made?

Monty Burnz

goodie2shoes wrote: »

the banks just like everybody else will jump on the bandwagon just as they did last time round.

WITH WHAT MONEY??

goodie2shoes

Monty Burnz wrote: »

WITH WHAT MONEY??

the banking issue will be resolved in the coming months, probably before year end. The ECB will be writing a cheque.
That or the Govt. will be forced to sell them off to the highest bidder, who in turn will on the credit tap.

It's called Capitalism, and it aint gonna stop because of a few posters on boards.ie

Zamboni

Monty Burnz wrote: »

WITH WHAT MONEY??

He got ya!

Monty Burnz

goodie2shoes wrote: »

the banking issue will be resolved in the coming months, probably before year end. The ECB will be writing a cheque.

No, they won't. I've no idea why you think they would??

goodie2shoes wrote: »

That or the Govt. will be forced to sell them off to the highest bidder, who in turn will on the credit tap.

Who wants to buy bankrupt banks with massive unacknowledged liabilities? Don't you think those people might first look to invest in healthier economies?

goodie2shoes wrote: »

It's called Capitalism, and it aint gonna stop because of a few posters on boards.ie

It's called fantasy, and you are living in dreamworld if you think that people are going swallow property mania for a second time in a decade.

Duggys Housemate

Sounds like it should be called corporate socialism.

Duggys Housemate

goodie2shoes wrote: »

the banks just like everybody else will jump on the bandwagon just as they did last time round.

remember all those 100% mortgages?
do you really think they were figments of people's imagination?
do you honestly believe the banks will not lend if they think there's profit to be made?

I'd be very surprised if State owned banks, or ECB bailed out banks started 100% mortgages again. I think the ruling classes - Germany, IMF, ECB - would not be impressed. The days of 100% mortgages are gone, and gone for good. You can tell your grandchildren and they can be amazed, for they will never see it again.

Monty Burnz

Duggys Housemate wrote: »

Sounds like it should be called corporate socialism.

Don't worry, it's not going to happen. I love the idea that we can't fund our schools or hospitals and are running a €6,000,000,000 or so current account deficit, but dozens of billions can still be found...from somewhere?...to put into our failed banks. Or the idea that the ECB would be doling out free money at random - perhaps Goodie2shoes thinks that the winding down Anglo Irish (or rather IBRC) is a mortgage bank?

Pure fantasy (or propaganda).

Duggys Housemate

Well the idea is to fund it with printed money. Printed money is free.

Monty Burnz

Duggys Housemate wrote: »

Well the idea is to fund it with printed money. Printed money is free.

It's not free, it devalues everyone else's money. And why on god's green earth would they give this money to AIB/BOI etc?

Pure fantasy.

goodie2shoes

Duggys Housemate wrote: »

I'd be very surprised if State owned banks, or ECB bailed out banks started 100% mortgages again. I think the ruling classes - Germany, IMF, ECB - would not be impressed. The days of 100% mortgages are gone, and gone for good. You can tell your grandchildren and they can be amazed, for they will never see it again.

sorry mate but you appear not to know your economic history very well. it's littered with similar post boom, hangover-like circumstances where the powers that be said "oh! me frickin head! Never Again!"

and guess what?:D

http://youtu.be/hirGUqxE8nA

latenia

Monty Burnz wrote: »

It's called fantasy, and you are living in dreamworld if you think that people are going swallow property mania for a second time in a decade.

I agree with everything you say except this. The most depressing thing about the country is that people (your friend above being a case in point) still do not understand what has happened and think that the bubble was the good thing and the crash the bad. I'd guess that the majority would sign up for the same sh1te all over again if they had the chance.

latenia

goodie2shoes wrote: »

sorry mate but you appear not to know your economic history very well. it's littered with similar post boom, hangover-like circumstances where the powers that be said "oh! me frickin head! Never Again!"

Get this into your head:

THERE WAS NO BOOM. IT WAS A CREDIT FUELLED ASSET BUBBLE.

This is axiomatic. There is no debate about this fact. You cannot have an opinion about its nature. Cop the fck on.

Duggys Housemate

goodie2shoes wrote: »

sorry mate but you appear not to know your economic history very well. it's littered with similar post boom, hangover-like circumstances where the powers that be said "oh! me frickin head! Never Again!"

and guess what?:D

http://youtu.be/hirGUqxE8nA

This assumes that the same type of boom happens again. Ireland never had a boom in property. And cycles were diminished in 1945 -1970 because of government intervention, the Fed caused a lot of recession in the US to stop inflation getting out of hand. From now on they won't allow 100% mortgages. If AIB, or any bailed out bank even dares to do so, the entire management will be replaced by the owners - which in your scheme would be the Europeans, or the IMF.

100% mortgages are gone.

Duggys Housemate

latenia wrote: »

I agree with everything you say except this. The most depressing thing about the country is that people (your friend above being a case in point) still do not understand what has happened and think that the bubble was the good thing and the crash the bad. I'd guess that the majority would sign up for the same sh1te all over again if they had the chance.

I don't think so, this may happen in a different generation, but even if some of the conditions were met again the system would not boom.

It's not free, it devalues everyone else's money. And why on god's green earth would they give this money to AIB/BOI etc?

Pure fantasy.

In fact that is what central banks do in most monetary unions, take over banks which have defaulted and monitize the debt. It makes sense if we are in a currency union, and our budget is dictated to us that there be a quid pro quo. What won't happen is these State, or ECB owned banks will go on a credit binge again.

goodie2shoes

latenia wrote: »

Get this into your head:

THERE WAS NO BOOM. IT WAS A CREDIT FUELLED ASSET BUBBLE.

This is axiomatic. There is no debate about this fact. You cannot have an opinion about its nature. Cop the fck on.

i think we got a loser here!;)

StillWaters

goodie2shoes wrote: »

latenia wrote: »

Get this into your head:

THERE WAS NO BOOM. IT WAS A CREDIT FUELLED ASSET BUBBLE.

This is axiomatic. There is no debate about this fact. You cannot have an opinion about its nature. Cop the fck on.

i think we got a loser here!;)

You are wrong Latenia, and very rude.
There was a boom which was spectacularly mismanaged leading to a property bubble.

House prices in Ireland were undervalued before the boom, and overvalued during. I believe they are undervalued now, my argument has been made many times on this thread.

As for 100% mortgages, although the work of the devil, never say never, all you need is a new entrant or two in the Irish Market.

goodie2shoes

StillWaters wrote: »

You are wrong Latenia, and very rude.
There was a boom which was spectacularly mismanaged leading to a property bubble.

House prices in Ireland were undervalued before the boom, and overvalued during. I believe they are undervalued now, my argument has been made many times on this thread.

As for 100% mortgages, although the work of the devil, never say never, all you need is a new entrant or two in the Irish Market.

Latenia sounds a tad agrieved tbh (which is understandable given how the economic cycle has affected some folk),
He/she clearly does not have a sound grasp of the subject.
i recommend he/she educates him/herself.
he could start with a book by Bob Brenner titled "The Boom and the Bubble". The author details exactly how a boom becomes a bubble.