Desperate House Buys RTE One 9:40pm

Zamboni

Theboinkmaster wrote: »

So basically we are stuck with high prices and this apparent dublin bubble won't burst due to government intervention?

If you suck wealth out of the older generation and current FTBers with accumulated deposits over last 5-6 years you end up running out of money and people to prop the whole game up.
Next generation have lower earnings and higher rents to content with, so deposit accumulation is difficult.
Unless (retarded) private foreign investment and/or banks come in there is no one left to fuel the bubble.

BabysCoffee

jessicaxxx wrote: »

can someone post a link to it on rte player I can not seem to find it.

I watched it on Demand on my UPC box

ryan101

If you can't watch it I wouldn't worry about it. In summary cash buyers and some 30-40 somethings in Dublin who have managed to save a large deposit over the recession are now fighting eachother to pay over 500,000 for tired looking shabby and very basic three bed semi's and then having to find 1800 month, every month, for the next 30 years. When these buyers run out, and they will, as the banks are not lending to anyone else, the bubble will burst again. Another case of more money than sense. Meanwhile far better houses in, in far nicer areas outside Dublin can't find buyers at 125k because there are no jobs there and never will be due to the mono city policy. It's just more of the same mono city Irish madness I like Dublin, but it's time to start developing regional cities and jobs instead of repeating this nonsense over and over.

maryishere

there are apartments being sold for 30 and 40 k each in some parts of Ireland : no mention of this.

I agree with the poster above: I like Dublin too, but it's time to start developing regional cities and jobs instead of repeating this nonsense over and over

Gam

ryan101 wrote: »

If you can't watch it I wouldn't worry about it. In summary cash buyers and some 30-40 somethings in Dublin who have managed to save a large deposit over the recession are now fighting each other to pay over 500,000 for tired looking shabby and very basic three bed semi's and then having to find 1800 month, every month, for the next 30 years.

1200 for 34 years actually

If you don't like it good for you but other people may have a different perception of value, and for this type of goods it's all that matters after all.

I agree on one thing: don't worry
People should not be worried about the program, what they said, the current asking prices, locations, etc, unless they are actively looking for something in those specific areas.
If not, they should just buy what they need and what they can afford, where they want and when they are ready. No panic about negative equities, no rush, no killer mortgages, no stupid investments.

Mongfinder General

Gam wrote: »

1200 for 34 years actually

If you don't like it good for you but other people may have a different perception of value, and for this type of goods it's all that matters after all.

I agree on one thing: don't worry
People should not be worried about the program, what they said, the current asking prices, locations, etc, unless they are actively looking for something in those specific areas.
If not, they should just buy what they need and what they can afford, where they want and when they are ready. No panic about negative equities, no rush, no killer mortgages, no stupid investments.

1200? What interest rate are you applying? 0?

Muahahaha

Gam wrote: »

There is another factor that could kick in, which is the rent-for-life (or good part of it).
Unlike many other countries, people in Ireland are allergic to renting long term.
If something like this kicks in, prices should drop... unless some "investors" start a buy-to-rent war which will drain the market again.

The exemption the capital gains tax for owning a property for seven years finishes on December 31st this year. What we are seeing right now is a buy to let war going on between cash heavy investors. FTBers should step back for the rest of 2014 IMO especially if they are bidding against investors. Because come Januarary 2015 anyone intending to invest in property will have already done so to take advantage of not having to pay 33% capital gains tax on any profit they make. Not paying CGT is a huge saving and opportunities like that don't come along too often. The government has distorted the market once again, better to stay out of it till the mattress money has dried up.

groovyg

jessicaxxx wrote: »

can someone post a link to it on rte player I can not seem to find it.

http://www.rte.ie/player/ie/show/10285050/

super_furry

Mongfinder General wrote: »

1200? What interest rate are you applying? 0?

One which will never, ever, ever move from the historical low that we're at right now. Honest.

Gam

Mongfinder General wrote: »

1200? What interest rate are you applying? 0?

You are assuming they have taken a 100% mortgage. 50-60%

Gam

Muahahaha wrote: »

The exemption the capital gains tax for owning a property for seven years finishes on December 31st this year. What we are seeing right now is a buy to let war going on between cash heavy investors. FTBers should step back for the rest of 2014 IMO especially if they are bidding against investors.

All the people I saw at the viewings were couples, families, etc. I doubt there are that many investors as you think. I personally know people working in agencies and that is not the feedback I got.

morrga

Gam wrote: »

All the people I saw at the viewings were couples, families, etc. I doubt there are that many investors as you think. I personally know people working in agencies and that is not the feedback I got.

According to the show, these families were making bids only to be outbid by investors on the phone who haven't even saw the place!!

NIMAN

Santa Cruz wrote: »

Good man. I look forward to ripping off your kids when they come to Dublin seeking rented accommodation

Hopefully when my kids grow up they will spread their wings and see the world out there, not all head to Dublin and treat it like the centre of the universe.

Alf Veedersane

ryan101 wrote: »

It went completely missing this afternoon, no links anywhere, interesting that its back up, I wonder what they edited out / got cleared by their legal team

Hi Jim, will The Corrs be recording any new material in the foreseeable future?

qdawg86

NIMAN wrote: »

Hopefully when my kids grow up they will spread their wings and see the world out there, not all head to Dublin and treat it like the centre of the universe.

They are not treating Dublin as the centre of the universe.....they are treating a few suburbs like Dundrum and Glasnevin as if they are the centre of the universe.

Its sad to think that they are willing to hand over these enormous sums of money just because they wouldn't be caught dead on the Red Luas line :p:p

Let them at it I say

fly_agaric

maryishere wrote: »

there are apartments being sold for 30 and 40 k each in some parts of Ireland : no mention of this.

I agree with the poster above: I like Dublin too, but it's time to start developing regional cities and jobs instead of repeating this nonsense over and over

Do you think silly property prices suggest development? Do people really think the high prices and short supply mentioned in the programme (and other problems with housing) are good for Dublin or somehow help create prosperity (other than for a few professions)? They may be something the govt. wants (?) but that would be to help out the pillar banks and NAMA rather Dublin.

maryishere

fly_agaric wrote: »

Do you think silly property prices suggest development?

silly where? Which do you think is the sillier price - 35k for a new apartment in a country town or 350k for a similar size / spec apartment in Dublin?

Which do you think is the sillier price - 55k for a new house near a country town or 800k for a similar size / spec house in Dublin?

As someone else said it's time to start developing regional cities and jobs - Dublin is overcooked.

The properties for 40k in the country can more or less only go one way - up (they could not lose 50 or 60k ) - while similar properties in Dublin could lose 100 or 200k again when interest rates rise / cash buyers diminish.

NIMAN

Why does the IT industry feel the need to locate everything in Dublin?

Surely an industry that doesn't manufacture anything physical can be located anywhere that there is decent broadband?

Stheno

NIMAN wrote: »

Why does the IT industry feel the need to locate everything in Dublin?

Surely an industry that doesn't manufacture anything physical can be located anywhere that there is decent broadband?

It's where most of the skilled staff are tbh

hfallada

NIMAN wrote: »

Why does the IT industry feel the need to locate everything in Dublin?

Surely an industry that doesn't manufacture anything physical can be located anywhere that there is decent broadband?

Do you honestly think an Italian, American or German moving to Ireland from a massive city will live in town of 20,000 people? That has no native speakers of their language, nothing to do and **** quality of housing. It has no nightlife or shopping. Its also hours from Dublin airport.

Dublin is attractive as its a young person city with lots of things to do. It also has tons of quality of office. Something you wont find in the middle of nowhere. You could argue if you build offices,Facebook etc will move to Kerry. But there is no law firms, banks, accountancy firms etc. Something found in Dublin. If you study business, you will hear of clustering. A firm locates in one area, as firms from the same industry locate there.

Stheno

hfallada wrote: »

Do you honestly think an Italian, American or German moving to Ireland from a massive city will live in town of 20,000 people? That has no native speakers of their language, nothing to do and **** quality of housing. It has no nightlife or shopping. Its also hours from Dublin airport.

Dublin is attractive as its a young person city with lots of things to do. It also has tons of quality of office. Something you wont find in the middle of nowhere. You could argue if you build offices,Facebook etc will move to Kerry. But there is no law firms, banks, accountancy firms etc. Something found in Dublin. If you study business, you will hear of clustering. A firm locates in one area, as firms from the same industry locate there.

Kerry is a bad example, there are two major operations there, Astelas and Fexco, that I can think of of the top of my head, and Kerry has an airport

Longford now.............. Or Laois..........

hfallada

Stheno wrote: »

Kerry is a bad example, there are two major operations there, Astelas and Fexco, that I can think of of the top of my head, and Kerry has an airport

Longford now.............. Or Laois..........

But its not international. No young person in their right mind would move to rural Ireland from a major city. Even on a decent wage, its just too boring

NIMAN

Doesn't have to be rural Ireland, there are plenty of other cities outside of Dublin.

Stheno

hfallada wrote: »

But its not international. No young person in their right mind would move to rural Ireland from a major city. Even on a decent wage, its just too boring

Agreed, I know of one company looking for specialist IT staff in an area of the country that is very very cheap to live in.

They can't get them for love or money as the salaries are well below Dublin averages, and it's essentially a rural area.


They are now looking at recruiting from North England with relocation packages

beertons

Stheno wrote: »

Kerry is a bad example, there are two major operations there, Astelas and Fexco, that I can think of of the top of my head, and Kerry has an airport

Liebherr

maryishere

NIMAN wrote: »

Why does the IT industry feel the need to locate everything in Dublin?

Surely an industry that doesn't manufacture anything physical can be located anywhere that there is decent broadband?

correct. With improved road networks and a move towards sustainable healthier living, the great outdoors etc many people prefer the quality of life at key strategic locations elsewhere in the country rather than Dublin. There are lots of successful companies in the country within say 50 minutes or an hour of an airport, a city or large town, an IT, the ocean and mountains etc. The middle of nowhere is bad for business too, but there is a happy compromise.

Stheno

maryishere wrote: »

correct. With improved road networks and a move towards sustainable healthier living, the great outdoors etc many people prefer the quality of life at key strategic locations elsewhere in the country rather than Dublin. There are lots of successful companies in the country within say 50 minutes or an hour of an airport, a city or large town, an IT, the ocean and mountains etc. The middle of nowhere is bad for business too, but there is a happy compromise.

Outside of Dublin, Cork, Athlone, and to a limited respect Galway, I can't think of anywhere which has a significant clustering of IT, Pharma etc in the country?

riclad

I think it companys like google, need acess to large office space ,
maybe acess to an airport .
Very fast internet infra structure .
Tech companys are having to import some programmers ,call centre staff.

IT would be hard to get them to move to longford , or limerick.
Our educational system is maybe ten years behind other countrys .
WE are not producing enough graduates in the stem sector,
who also speak foreign languages.
Maybe the ida needs to do something to attract companys to cork and galway.
Dublin has the advantage in that it has plenty of modern office space ,
with a large amount of young graduates looking for work.

i,m sure theres lots of young people who would love to live in kerry, cork etc
Whether there is jobs for them there is another story.

ted1

NIMAN wrote: »

Why does the IT industry feel the need to locate everything in Dublin?

Surely an industry that doesn't manufacture anything physical can be located anywhere that there is decent broadband?

They need to attract young educated staff, these people don't want to live in the sticks

ted1

beertons wrote: »

Liebherr

They make a dozen cranes a year. Hardly an IT hub.