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CSO house price index - slide resumes

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    #2
    Cool Rider
    Registered Users Posts: 78 ✭✭Cool Rider


    That was always writing on the wall. 0.2% monthly rise after 5 years of decline was a false alarm to highlight a possible comeback, hello... watch the world around you its falling apart.
    Lol enough of cynicism but people are getting poorer and this will drive down prices. Where were we 4 months ago at 2001 levels? 1996 levels sometimes soon...anyone...


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    #3
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    I await with anticipation of the cheerleaders(in the last thread about May's rise) who said prices were on the way up for the foreseeable future with Dublin leading the country in 'recovery' despite all the economic evidence which suggested otherwise, to give their reactions to todays news.


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    #4
    Catweasel
    Registered Users Posts: 54 ✭✭Catweasel


    This was always likely - there are simply no economic factors to support a stabilisation at the moment.


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    #5
    quad_red
    Registered Users Posts: 5,561 ✭✭✭quad_red


    Viewed a house in South Dublin yesterday (perrystown).

    House is on the market for circa 300k. EA tried to claim that in the boom it would have sold for 750/800k so it was a 'staggering bargain'.

    Furthermore, he bullishly declared that house prices would go up by 25% in South Dublin this year.

    Didn't even bother talking it out with him. And I know EA's are staggeringly full of ****e. But I really do think he genuinely believed that.

    We have this amazing ability here to totally decouple economic expectation with reality.


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    #6
    Catweasel
    Registered Users Posts: 54 ✭✭Catweasel


    quad_red wrote: »
    And I know EA's are staggeringly full of ****e. But I really do think he genuinely believed that.

    We have this amazing ability here to totally decouple economic expectation with reality.

    EA's do anyway. It never ceases to amaze me that they believe their own waffle. I should know better by now.


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    #7
    robd
    Registered Users Posts: 951 ✭✭✭robd


    gurramok wrote: »
    I await with anticipation of the cheerleaders(in the last thread about May's rise) who said prices were on the way up for the foreseeable future with Dublin leading the country in 'recovery' despite all the economic evidence which suggested otherwise, to give their reactions to todays news.

    Yep, I had to give up on said thread for health reasons.


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    #8
    jmayo
    Registered Users Posts: 13,186 ✭✭✭✭jmayo


    robd wrote: »
    Yep, I had to give up on said thread for health reasons.

    Well I ressurected the last thread to see if certain bulls care to comment on their property is on the way back up predictions.

    Then again they couldn't be bothered to back up their arguments before so not holding out much hope this time.

    I am not allowed discuss …



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    #9
    LittleBook
    Closed Accounts Posts: 1,716 ✭✭✭LittleBook


    quad_red wrote: »
    Viewed a house in South Dublin yesterday (perrystown).

    House is on the market for circa 300k. EA tried to claim that in the boom it would have sold for 750/800k so it was a 'staggering bargain'.

    Furthermore, he bullishly declared that house prices would go up by 25% in South Dublin this year.

    Didn't even bother talking it out with him. And I know EA's are staggeringly full of ****e. But I really do think he genuinely believed that.

    We have this amazing ability here to totally decouple economic expectation with reality.

    Lucky you. We were supposed to view a house near Perrystown yesterday and the EA didn't even bother to show up. :rolleyes:


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    #10
    ciaran_h
    Closed Accounts Posts: 110 ✭✭ciaran_h


    quad_red wrote: »
    Viewed a house in South Dublin yesterday (perrystown).

    House is on the market for circa 300k. EA tried to claim that in the boom it would have sold for 750/800k so it was a 'staggering bargain'.

    Furthermore, he bullishly declared that house prices would go up by 25% in South Dublin this year.

    Didn't even bother talking it out with him. And I know EA's are staggeringly full of ****e. But I really do think he genuinely believed that.

    We have this amazing ability here to totally decouple economic expectation with reality.

    Think I viewed same house tonight. That guy is full of it....'will get at least 300k'....i wish him luck


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    #11
    noxqs
    Registered Users Posts: 413 ✭✭noxqs


    The cheerleaders will ignore this one. They're looking for anything confirming their beliefs - nevermind Europe is crashing and burning and nothing changed for the better - on the contrary it seemed to get a lot worse in the last 2 months. But hey, buying property on this god forsaken island must be the most fantastic investment _ever_!!! *cough*


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    #12
    Mr. Loverman
    Closed Accounts Posts: 4,001 ✭✭✭Mr. Loverman


    Catweasel wrote: »
    This was always likely - there are simply no economic factors to support a stabilisation at the moment.

    I believe the cheerleaders know this... they have to, the alternative is too painful... surely people can't be that thick... so what are they... lying or deluded?

    Lying I can understand: a couple of EAs creating fake accounts here in an attempt to drum up business.

    Delusion I can also understand... at this stage it seems delusion is some sort of built in survival mechanism we have to stop us from going mad. But surely people will have to face reality at some stage... that poorly build semi you bought in Citywest will never ever ever again be worth anything close to the 450k you paid for it.


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    #13
    dardhal
    Registered Users Posts: 121 ✭✭dardhal


    quad_red wrote: »
    Furthermore, he bullishly declared that house prices would go up by 25% in South Dublin this year.

    If they were so sure of prices going up by a 25% only this year they wouldn't be showing the property to anyone, they would queue in front of their branch office to apply for a mortgage and sell 12 months from now, getting a 75K€ profit for a couple days worth of paperwork. Obviously, they aren't.

    It is an old salesman tactic, to make the prospective purchaser believe the item being offered is scarce, unique or available only for a short time, to drive the natural human impulses.


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    #14
    Catweasel
    Registered Users Posts: 54 ✭✭Catweasel


    AIB mortgage rate increases of 0.5% should further depress the market and keep the downward momentum until the new year.


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    #15
    maddragon
    Registered Users Posts: 590 ✭✭✭maddragon


    Unknown property tax amount next year won't help the market either.


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    #16
    Snakeblood
    Registered Users Posts: 4,466 ✭✭✭Snakeblood


    maddragon wrote: »
    Unknown property tax amount next year won't help the market either.

    The end of Mortgage interest relief too.


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    #17
    Catweasel
    Registered Users Posts: 54 ✭✭Catweasel


    Very good article from yesterday's independent

    http://www.independent.ie/business/property-market-recovery-is-about-raising-activity-and-stable-prices-3180550.html


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    #18
    Villa05
    Registered Users Posts: 4,613 ✭✭✭Villa05


    Catweasel wrote: »
    Very good article from yesterday's independent]
    + 1 Was their a blue moon in the sky yesterday!!!


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    #19
    TheTurk1972
    Registered Users Posts: 154 ✭✭TheTurk1972


    When prices hit the bottom they won't just rise. They will bounce around along the bottom for a while (how long is anybodies guess). Up a tiny bit, down a tiny bit, up a tiny bit ......

    Its recovering employment that will cause prices to rise again. Nothing else.
    If the economy recovers everything else will recover. If it doesn't expect to be more worried about your job than house prices.


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    #20
    Duckjob
    Registered Users Posts: 2,859 ✭✭✭Duckjob


    Catweasel wrote: »
    Very good article from yesterday's independent

    http://www.independent.ie/business/property-market-recovery-is-about-raising-activity-and-stable-prices-3180550.html


    Probably been given their P45 already. Can't be going writing well thought out, rational articles on the property market like that :pac:


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