Anyone else depressed with house hunting?

lukesmom

lima wrote: »

I for one do not care one bit where they go. That's their problem. They should have planned for something like this. They can move in with relatives or live in a tent for all I care.

In all fairness, how could anyone have envisaged this? They hardly thought let's
save all we have just in case there is a huge recession. Nobody thinks this way, yes if you can afford to put a bit aside well and good but they couldn't have been prepared for the massive job losses and economic crises on the scale it rose to.

You have obviously managed to hold onto your house and job or you wouldn't have such a harsh view of those in trouble.

lima

lukesmom wrote: »

In all fairness, how could anyone have envisaged this? They hardly thought let's
save all we have just in case there is a huge recession. Nobody thinks this way, yes if you can afford to put a bit aside well and good but they couldn't have been prepared for the massive job losses and economic crises on the scale it rose to.

You have obviously managed to hold onto your house and job or you wouldn't have such a harsh view of those in trouble.

I actually did not buy in the boom. I happily rent but currently trying to buy since it works out cheaper with the large deposit I have. Luckily I wasn't here but at one point I was going to purchase with a relative but decided not to pay e400k for a tiny apartment with no balcony.

If they done their research then they would have realised that they shouldn't have gotten a mortgage in the first place and could have rented and wouldn't be in the mess they are in.

They will never be homeless, even with social welfare they can move to a cheap part of the countryside and rent there.

lukesmom

Many people still want their own homes though despite some advising them to rent. Rental properties are in huge demand also. It's quite confusing to people whether they should rent or buy as there's a shortage in rental properties and many selling houses just have them advertised but aren't really accepting offers it is disheartening to say the least.

handlemaster

lukesmom wrote: »

Many people still want their own homes though despite some advising them to rent. Rental properties are in huge demand also. It's quite confusing to people whether they should rent or buy as there's a shortage in rental properties and many selling houses just have them advertised but aren't really accepting offers it is disheartening to say the least.

Make a higher offer

Bepolite

lukesmom wrote: »

In all fairness, how could anyone have envisaged this? They hardly thought let's
save all we have just in case there is a huge recession.

I did (or rather the wife 'she of financial sense' did). Perhaps not for a recession although we've been in a boom, bust cycle for as long as I've been alive so it's not exactly unforeseen, but you never know then the boiler will break, the cat will get sick or you might lose your job.

cerastes

lima wrote: »

I for one do not care one bit where they go. That's their problem. They should have planned for something like this. They can move in with relatives or live in a tent for all I care.

You're talking about a lot of ordinary people that had no part in the causes of the economic collapse, nor partied despite what many may think. Id be all for repossesing the assets of those that have more than enough to get by and live very comfortably. Your attitude that ordinary people not with significant means can more or less eat cake smacks of extreme bitterness and is completely unrealistic. Im glad Im not looking for a house, by the sounds of it, it is tough.

lima wrote: »

I actually did not buy in the boom. I happily rent but currently trying to buy since it works out cheaper with the large deposit I have. Luckily I wasn't here but at one point I was going to purchase with a relative but decided not to pay e400k for a tiny apartment with no balcony.

If they done their research then they would have realised that they shouldn't have gotten a mortgage in the first place and could have rented and wouldn't be in the mess they are in.

They will never be homeless, even with social welfare they can move to a cheap part of the countryside and rent there.

You're being unrealistic, if they did their research? there was either the option of getting on the ladder or missing it and as far as ordinary people knew property could have gotten more expensive and further out of reach. So they might have a job and kids in school and you expect people to move en masse to the countryside where services are already at their limits??? do their children not deserve a future too?

Moomat

Repossessions will not suddenly fix the market. Yes they have a part to play and if the number of repossesions surged alongside a modest increase in prices you may find that many people who are facing difficulties find some way of pulling themselves back from the brink and getting back on track with their mortgage.
Other factors are the amount of negative equity and such a buoyant rental market. Why sell now if you have a property getting a good rent and very likely to be worth considerably more in 3-5 years. Many people are also in properties with huge NE, paying a mortgage that's similar to local rents and putting their shoulder to the wheel to meet their obligations. There's no incentive for these people to be in the market at the moment either.

Moomat

cerastes wrote: »

So when you repossess those houses, where do the people that were in them then go? the problem seems to have just been shifted, as they are then going to have to move somewhere, probably withing reason if they still have work/children in education commitments. People are saying in other threads there is already an undersupply of rented accomodation, so where will these people go? just somewhere else??? in some extreme examples Id say i agree.

lima wrote: »

I for one do not care one bit where they go. That's their problem. They should have planned for something like this. They can move in with relatives or live in a tent for all I care.

Schemes like the mortgage to rent will become more prevalent. It's a great way of helping people who are truly in need of help and a way to keep them in their communities.

lima

cerastes wrote: »

You're talking about a lot of ordinary people that had no part in the causes of the economic collapse, nor partied despite what many may think. Id be all for repossesing the assets of those that have more than enough to get by and live very comfortably. Your attitude that ordinary people not with significant means can more or less eat cake smacks of extreme bitterness and is completely unrealistic. Im glad Im not looking for a house, by the sounds of it, it is tough.



You're being unrealistic, if they did their research? there was either the option of getting on the ladder or missing it and as far as ordinary people knew property could have gotten more expensive and further out of reach. So they might have a job and kids in school and you expect people to move en masse to the countryside where services are already at their limits??? do their children not deserve a future too?

The fact they thought about a 'ladder' means they were completely out of touch and wanted to keep up with their neighbours. They could have rented with no issues. In fact, they should have done so.

I do not care for the future of anyones children other than ones I am related to. If they can not live in a particular area then they should move to an area they can afford to. That's their problem, not mine.

Moomat

lima wrote: »

I do not care for the future of anyones children other than ones I am related to.

I would recommend you should care. It's very possible that those children you are related to will marry some children who you are not related to in the future. This future of this country depends on everyones children.
We're all in this together whether you like it or not. The housing markets needs some serious fixing and an us and them mentality won't fix it, even if that is unfair.

lukesmom

lima wrote: »

The fact they thought about a 'ladder' means they were completely out of touch and wanted to keep up with their neighbours. They could have rented with no issues. In fact, they should have done so.

I do not care for the future of anyones children other than ones I am related to. If they can not live in a particular area then they should move to an area they can afford to. That's their problem, not mine.

Your all heart!

lima

Moomat wrote: »

I would recommend you should care. It's very possible that those children you are related to will marry some children who you are not related to in the future. This future of this country depends on everyones children.
We're all in this together whether you like it or not. The housing markets needs some serious fixing and an us and them mentality won't fix it, even if that is unfair.

The housing market is extremely overpriced right now due to vested interest market manipulation. It needs to be fixed so that prices come down to their true worth. Unfortunately it looks like this is not going to happen any time soon.

People not getting repossessed is contributing to this restriction of the market. I wish for them to be removed from their houses and after that I do not care where they go.

Moomat

lima wrote: »

The housing market is extremely overpriced right now due to vested interest market manipulation. It needs to be fixed so that prices come down to their true worth. Unfortunately it looks like this is not going to happen any time soon.

People not getting repossessed is contributing to this restriction of the market. I wish for them to be removed from their houses and after that I do not care where they go.

If there were mass repossessions the majority of evicted people would end up turning to the state for accommodation. The househunters could then move from their rented accommodation into the now available repossessed houses. The state would provide rent supplement and the evicted would take up houses vacated by the renters.
Is it more fair to have people who can afford the houses living in them? Yes I think so.
Will these repossesions make house prices drop? No I don't think so.

gaius c

Moomat wrote: »

How would house hunters feel about buying and living in a house where a family had been evicted by a bank?
There seems to be an increasing number of threats of evictions and I wonder how communities will react to this and their new neighbours if the threats are followed through.

Why would folk have any sympathy for neighbours not paying for their houses while they break their backs to pay?

liffeylite wrote: »

Slightly off the recent thread but still on topic...it is interesting that the listings on Daft show Dublin has less properties for sale than 5 other counties in Ireland.

Even Mayo, with a population less than 10% of Dublin, has more homes to buy available....What do people think of this?

It's quite simple really.
Due to negative equity, nobody can move house and the "ladder" is broken. Trackers are complicating this problem. FTB's can't buy because the people who are living in those houses are in NE and cannot move, the people above them are stuck because they can't get anybody to buy their house and so on. Even if you're not in arrears, moving house will cost you hundreds of thousands of euro and you'll lose your sweet tracker. Much better to hunker down, resign yourself to living in Stocking Wood for 20 years and pay it off bit by bit.

There isn't really a ladder as such in Mayo unless it's the type you buy in Woodies. You just buy a field and build a house in it.

dinnyirwin wrote: »

Dangerous both ways.
If you can afford to buy the house you want but are waiting for it come come down next year, you might find your priced out of the market this time next year.

Trying to time any market is a fools game for buyer or seller.

Translation: BUY BUY FOR GODS SAKE BUY NOW FROM THE SECRET BANK LISTS BEFORE IT'S TOO LATE

Bepolite

lima wrote: »

The housing market is extremely overpriced right now due to vested interest market manipulation. It needs to be fixed so that prices come down to their true worth. Unfortunately it looks like this is not going to happen any time soon.

People not getting repossessed is contributing to this restriction of the market. I wish for them to be removed from their houses and after that I do not care where they go.

No it's not. If people's houses are repossessed then they simply rent creating more rental demand, meaning that more investors drive up property prices. Repossessing the family home should only ever be a last resort when people are refusing to service the loan and have the means to do so. It serves no one to repossess and put people out on the street. It also serves no purpose letting people walk away from negative equity.

Simply restructure the loan, for 50 years if necessary and remove any capital from the estate once both parties have passed away. Negative equity sales and mortgages should also easily available which will correct more issues with the market than repossessing family homes.

In relation to property investors, 3 months is all it should take before repossession proceedings start. The whole issue with the Dublin market is exactly the issue Ireland had when the British owned all the land, landlords which don't care as long as some money is coming in and a people that can't afford and likely never will be able to afford to get a leg up. Screwing people who are in real financial distress is not going to help.

EDIT: As for moving down the country. On the one hand I agree with you - if we had the social housing to do it why not move unemployed people out of Dublin? We simply don't have the infrastructure to do this. Plonking a group of unemployed people in Ballygobackwards co. Wicklow is simply going to create Ballymun with nicer surroundings for the horses. As for not caring, fair enough, but it's your taxes that pay to try and sort out the social mess doing this would create, and mine incidentally.

Moomat

gaius c wrote: »

Why would folk have any sympathy for neighbours not paying for their houses while they break their backs to pay?

There's an infinite amount of reasons why people can't pay their mortgage. Some more justifiable then others. You're also assuming that all the neighbours bought at the same time for the same price if they are equally breaking their backs or that their circumstances are similar.
I asked the question because most people who are in trouble bought at the latest in 2008, most in the years earlier. This means that by the time there was any large scale evictions they would be living in the community for 7/8 years at least. This is a huge time to develop roots regardless of whether you can pay your mortgage.

Bepolite

Moomat wrote: »

There's an infinite amount of reasons why people can't pay their mortgage. Some more justifiable then others. You're also assuming that all the neighbours bought at the same time for the same price if they are equally breaking their backs or that their circumstances are similar.
I asked the question because most people who are in trouble bought at the latest in 2008, most in the years earlier. This means that by the time there was any large scale evictions they would be living in the community for 7/8 years at least. This is a huge time to develop roots regardless of whether you can pay your mortgage.

People are rightly annoyed where people seem to be taking the mickey though. We really need to get off our high horses about certain things, one of which is giving the banks power to apply for a court order to garnish wages to pay into a mortgage where required. I also see no issue with, instead of rent allowance the state take over a mortgage and you pay it back, when you're back in work.

Moomat

Bepolite wrote: »

I also see no issue with, instead of rent allowance the state take over a mortgage and you pay it back, when you're back in work.

The mortgage to rent scheme is something similar but the bank takes a hit on the NE.
I think the "won't payers" would soon be back on track if there was a few widely publicised repossessions.

dinnyirwin

gaius c wrote: »

Translation: BUY BUY FOR GODS SAKE BUY NOW FROM THE SECRET BANK LISTS BEFORE IT'S TOO LATE

Please dont translate my posts if you dont understand them.

I'll say now that I dont know how things will be next year if you dont mind.
I cant predict the future.
Just reading back through some of your posts. You obviously think you can see into the future. The economic prediction business hasnt been going well for you at all.

You do know that just because you shout louder (and boy do you shout) doesnt mean you know anything about the future of the irish economy.

You can try to pretend you know something you clearly dont all you want. People can see through you you know. Keep shouting from the roof tops that the sky is falling, but it doesnt make you smart. Quite the opposite.

The sky will fall some day, who knows when, but you are applying the stopped clock method to your predictions.

cerastes

lima wrote: »

The fact they thought about a 'ladder' means they were completely out of touch and wanted to keep up with their neighbours. They could have rented with no issues. In fact, they should have done so.

I do not care for the future of anyones children other than ones I am related to. If they can not live in a particular area then they should move to an area they can afford to. That's their problem, not mine.

nothing to do with keeping up with the neighbours if you knew anyone buying at the time, or anything about, or even if you didnt, didnt you say you werent around at the time???. Genuine fear and concern, pushed by the politicians, media that if you dont get on, well, your luck out, people tired of paying rent and wanted their own home and security to raise their families, the same thing people want now that are searching for a home Id warrant, and nothing wrong with it either.

As for your last paragraph, good for you, fcuk everyone except you, how decent and unselfish of you, the kind of attitude that helped in the past, fcuk everyone else except me, that will sort everything, you'll be in good company, that attitude seems to go down well in this country.

lima wrote: »

The housing market is extremely overpriced right now due to vested interest market manipulation. It needs to be fixed so that prices come down to their true worth. Unfortunately it looks like this is not going to happen any time soon.

People not getting repossessed is contributing to this restriction of the market. I wish for them to be removed from their houses and after that I do not care where they go.

you're either very selfish or bitter or a troll, or all.
I havent been inclined to ever block anyone until now.

MouseTail

Lima is not a troll, he has been speaking these sentiments for years on here, waiting, waiting, waiting, sitting on a cash pile, as the buying power of the pile gets less, his anger gets greater. Everyones fault but his own for not buying 2 years ago when he was spouting the same crock.

dinnyirwin

cerastes wrote: »

nothing to do with keeping up with the neighbours if you knew anyone buying at the time, or anything about, or even if you didnt, didnt you say you werent around at the time???. Genuine fear and concern, pushed by the politicians, media that if you dont get on, well, your luck out, people tired of paying rent and wanted their own home and security to raise their families, the same thing people want now that are searching for a home Id warrant, and nothing wrong with it either.

Its difficult for anyone who is renting to not want to own their own home.
People dont want to be paying rent for the rest of their lives. And what you get on the OAP and RA doesnt rent much.
So its easy to see how people feel now.

I really think other things should take priority over owning your home, like increasing their pension contributions. Give yourself a cushion so you can enjoy yourself in the future. Then think about buying a home if you really, really feel the need for owning one. No need to sink every penny you have saved into a house and then struggle to make the payments.

The other thing is to just embrace renting. I hear people all the time saying there is nothing wrong with renting but you can clearly see that they dont believe that themselves. But its true, people have just been brainwashed into thinking renting = bad. You can still make a home renting.

Everyone is obsessed with owning their home in Ireland. They shouldnt be.

handlemaster

lima wrote: »

I actually did not buy in the boom. I happily rent but currently trying to buy since it works out cheaper with the large deposit I have. Luckily I wasn't here but at one point I was going to purchase with a relative but decided not to pay e400k for a tiny apartment with no balcony.

If they done their research then they would have realised that they shouldn't have gotten a mortgage in the first place and could have rented and wouldn't be in the mess they are in.

They will never be homeless, even with social welfare they can move to a cheap part of the countryside and rent there.

How's the fence sitting working out for you ?

Villa05

Moomat wrote: »

This future of this country depends on everyones children.

we should stop burdening them with this generations debt then and put up a bit more of a fight when our government chose to sacrafice them to bail out banks, developers and our property elites.

gaius c

Moomat wrote: »

There's an infinite amount of reasons why people can't pay their mortgage. Some more justifiable then others. You're also assuming that all the neighbours bought at the same time for the same price if they are equally breaking their backs or that their circumstances are similar.
I asked the question because most people who are in trouble bought at the latest in 2008, most in the years earlier. This means that by the time there was any large scale evictions they would be living in the community for 7/8 years at least. This is a huge time to develop roots regardless of whether you can pay your mortgage.

You're assuming the evictees will be embedded in their communities so I responded with a similar level assumption.

They can't afford their house (renter or mortgage holder), they leave and somebody who can afford it, takes it. Seems harsh but it is fair.

If you're suggesting some sort of "rent-a-mob" scenario, maybe it could happen. We'll just have to wait and see.

MouseTail

handlemaster wrote: »

How's the fence sitting working out for you ?

He is still waiting to pounce

lima

MouseTail wrote: »

Lima is not a troll, he has been speaking these sentiments for years on here, waiting, waiting, waiting, sitting on a cash pile, as the buying power of the pile gets less, his anger gets greater. Everyones fault but his own for not buying 2 years ago when he was spouting the same crock.

Actually my buying power gets more and more. As I said I am happy renting in a leafy D6 location. But I am also looking and if something comes up in the areas I want, then I will try and buy it. I am not looking for a family type home as I do not have a family yet, so any SCD or nice Northside area increases don't upset me.

I am also far from angry, I have never been in debt and I have enjoyed very much the last few years and I am happy for prices to go up a bit before I buy as it will give me confidence that I would not succumb to NE like the rest of the boom generation.

I wasn't part of the boom, I didn't need handouts during the bust and I am part of the solution to the problems in Ireland (I have a really good tech job). So understand the context of my ranting on here or seeya later.

lima

MouseTail wrote: »

He is still waiting to pounce

Heh I was about to go find that post. Looks like I was right, and now I am actively looking, with a larger deposit and higher mortgage approval

lima

cerastes wrote: »

nothing to do with keeping up with the neighbours if you knew anyone buying at the time, or anything about, or even if you didnt, didnt you say you werent around at the time???. Genuine fear and concern, pushed by the politicians, media that if you dont get on, well, your luck out, people tired of paying rent and wanted their own home and security to raise their families, the same thing people want now that are searching for a home Id warrant, and nothing wrong with it either.

As for your last paragraph, good for you, fcuk everyone except you, how decent and unselfish of you, the kind of attitude that helped in the past, fcuk everyone else except me, that will sort everything, you'll be in good company, that attitude seems to go down well in this country.


you're either very selfish or bitter or a troll, or all.
I havent been inclined to ever block anyone until now.

Block me because you don't like my view? Perfectly fine with me.

lima

handlemaster wrote: »

How's the fence sitting working out for you ?

It's great actually, I have got promoted, cashed some shares and saved another 14k. My mortgage approval is now a lot more than before.

I was interested in a few areas that have since gone up in value but to be honest I was never really committed to them as they had a e3k service charge.

Of course I am disappointed that waves of repossessions never happened and I understand now that I can't do a lot about government intervention in the property market so I may as well join in and actively pursue purchasing now. So yeah, I guess I've jumped off the fence.

It's pretty exciting but I am in a great rental now in a leafy part of D6 so I am happy to wait it out until I find something I like, rather than panic into buying a shoebox, even if it will rise in price.

So all in all it's working out great! I have to say though that it's not my main concern, rather it's a side project for me, I am enjoying my career too much to worry about it all!