Signs that the 'Tiger' is on its way back

bumper234

Egginacup wrote: »

Fair balls to you. I'm doing the same. Plus I like the surprise I get in Aldi when I reach the beer section. I usually grab some bottles of German pilsner like Perlenbacher but often there is a new beer there with some lovely label on it of a castle or an Alpine lodge or something with some strange name like Wolfganghausen or Eintrachfukten so I grab a few of them too.

Meh i perv at the hot Polish chicks working the tills, Dunnes stores can keep it's middle aged Agnes's, smokin hot Svetlana's make paying for food so much easier

Santa Cruz

See post re European Stag locations, definite sigh of a few bob back in the country.
Also golf clubs on a Friday afternoon are getting busier and busier with work societies. For about five years everyone was afraid to slip away handy on a Friday in case the job was gone on Monday

AudreyHepburn

Here we go again...when will we ever learn.

Vinz Mesrine

I could afford to buy myself a new pair of Converse last week without worrying about being able to buy food later in the week. The joys of promotion in work and full time hours after a long time of nothing and then part time hours.

Into The Blue

B.A._Baracus wrote: »

What exactly is causing the property market to boom?
There are still alot of people unemployed. Alot of people left the country. The live figures are being 'massaged' (ha, nice word) because of internships out there, etc.

Now I aint no property expert. So I am only having a stab at this.. but it's just pure greed and the domino effect, right?
Like at the start of the year with the reports stating that the sales of property picked up by a few percent. Which in turn made average-joe-landlord go "I can get another 100 for my place now!" - Which in turn made people think they should get on the property ladder now or else "get stung"

No, it's not a Property Ladder bubble this time.
Rents are high, and housing supply (in some areas) is short. So, cash investors are snapping up easily rentable houses.

Developers are trying to get their piece of the action by building new developments, which will dilute the supply, causing a flat line/possible fall in prices in four/five years time.

Potatoeman

hidinginthebush wrote: »

Something that people are glossing over as well is the mortgage interest rate is very low at the moment. Keep in mind that in the eighties these rose above a staggering 16%!! Now we have the protection of the euro zone, so they shouldn't go that high again, but once the zone starts to grow again, there's a very strong chance the rates will see a creep up again. They can't go much lower, after all.

It's funny to see, i have numerous friends who are mad to buy buy buy a house. Looking at the most impartial solutions just to get anywhere. They nearly have an air of despairation to them trying to lock down anywhere, then crazy bidding wars follow, and this is in North county Dublin. All in the fear of missing the boat, but to be honest, the boats long gone, when they say they are looking at houses that were listed for €100K lower last year, but are happily considering having a bid on it now, no amount of rational argument will let them see how mad they've gotten.

Leave them to it I figure. It's their money to spend after all, I suppose they'll learn they made a mistake, or reap the benefits of their shewed
investment.

Im in my mid thirties and stayed out of the last boom as it was going crazy when I first looked into buying. I have paid over 100k in rent in that time and moved three times. Im looking at buying for stability. Sure interest rates could go up but rent is going up 30% in places anyway. Renting is really a short term solution in this country as you have no stability. If you cant pay your mortgage you can still stay in the property but if you cant pay your rent you are out.

From looking around I could buy a place and have a smaller mortgage than rent. A mortgage usually decreases over time where rents increase.

Wibbs

AudreyHepburn wrote: »

Here we go again...when will we ever learn.

We won't, however boom bust(to varying degrees) seems to be a major component of modern consumer economies. Dunno about a "boom" just yet. In ten fifteen years time when the offspring of the Tiger need places to live watch the housing market go crazy then.

NZ_2014

Potatoeman wrote: »

From looking around I could buy a place and have a smaller mortgage than rent. A mortgage usually decreases over time where rents increase.

Should have bought in 2012..Ive seen asking prices DOUBLE the amount it sold for in 2012 in some locations! :mad:

Blingy

NZ_2014 wrote: »

Should have bought in 2012..Ive seen asking prices DOUBLE the amount it sold for in 2012 in some locations! :mad:

+1 although not many mortgages were given out in 2011 and 2012!!!

mylefttesticle

of course the good times will come again and they will go again and some will have made money and some will have lost money. The recession will come again and some will lose money and some will make money.

It happens every properly developed country.

God the ''I told you so'' merchants in here is enough to go and ask my local bank for a 2 million loan for a house in Ballybough.

BabysCoffee

New estate agents opened locally.

A friend told me how no estate agents return her calls.

Irish rail on strike

amdublin

A website dedicated to you finding a cleaner in your area

Irishcrx

I'm going to reach into my savings account next week and decorate the sitting room, even buy a 2nd hand corner sofa...and I can do all this without breaking into a panic sweat about spending money.......

actually **** it no no no....deal is off.....abort abort...

cletus van damme

mylefttesticle wrote: »

God the ''I told you so'' merchants in here is enough to go and ask my local bank for a 2 million loan for a house in Ballybough.

true.
I was down with my bank looking for a mortgage.
told me I could get what I wanted but also keep my current house.

I look forward to the next boom , I had a good buzz in the last one.

eviltimeban

AudreyHepburn wrote: »

Here we go again...when will we ever learn.

I for one welcome our new insect overlords.

Sh1tbag OToole

People starting to worship politicians and political parties as dieties again

B.A._Baracus

Deleted User wrote: »

Most won't, But there is a new generation who weren’t bitten in the arse by the tiger last time around who are lining up as feed for the next downturn.

You hit the nail on the head. It's the new generation that will make the same mistakes. It's seems that the cycle is doomed to repeat itself over and over again.

But what I am really waiting for is the jobs boom to hit again. Come on baby! lol

KungPao

I don't see any signs of it coming back, at all. The housing situation means nothing regarding the economy improving really. Not to mention, we are so far in the hole we'd need years of growth before our debts are paid off.

Would the average Joe Sixpack even notice a difference? The taxes will stay high (and probably get higher) until we have paid back our overlords.

I wouldn't get excited just yet!

Ush1

Where I work is closely linked to the construction industry and sales are through the roof. Worm has certainly turned.

Very tempted to take the p*ss and go mental as I didn't last time and still stung with USC etc...

Vet Thrower

There is a huge glut of pent up housing supply that is being artificially kept off the market.

Once prices hit certain levels, waves of sellers (people in negative equity) will be forced onto the market.

This will cause prices to at least stabilise, if not drop again.

What's basically happening is market manipulation on a vast scale, and the Central Bank, the government, the banks, the ECB and IMF are all colluding in it.

If Goldman Sachs were to do something like this sorry, were to get caught doing something like this, there would be uproar - jail the bankers etc.

Vandango

Putin wrote: »

I suppose we can only that people won't swallow the hyped shyte next time around.

No doubt they will, hook line and sinker.:(

Whatsisname

17 year olds driving 141 cars

Irishcrx

There is a slight turn in thing's at the moment alright but I wouldn't get carried away. Where I work is based around construction/consultancy and we are seeing a large ammount of staff move companies for the first time in a long time , work is available and wages are going up.

People are definatly doing better and more willing to spend and there are more jobs, hopefully we learned something from the last boom but early signs would say we haven't learned a thing, even in early days estate agents are back to their old tricks, it's actually just like the cycle is repeating again the exact same way but it won't be anything like the last time.

We are a nation of greedy sods after all.

bnt

B.A._Baracus wrote: »

What exactly is causing the property market to boom?

There's a lot of talk, a lot of speculative prices out there. Such talk doesn't always translate in to actual sales. You can say "my house is worth €000'000" all you like, but unless someone actually plonks down money, it's not real.

The big question mark, to me, is how the banks will behave. Will they keep to their strict lending criteria (e.g. mortgage no more then 4x income), or will they do what they did last time around: lend to anyone who asked, at higher multiples of income? If your mortgage is (say) 8x your income, either your payments are going to be too high or you'll be paying it back for your whole working life. :eek:

Irishcrx

bnt wrote: »

There's a lot of talk, a lot of speculative prices out there. Such talk doesn't always translate in to actual sales. You can say "my house is worth €000'000" all you like, but unless someone actually plonks down money, it's not real.

The big question mark, to me, is how the banks will behave. Will they keep to their strict lending criteria (e.g. mortgage no more then 4x income), or will they do what they did last time around: lend to anyone who asked, at higher multiples of income? If your mortgage is (say) 8x your income, either your payments are going to be too high or you'll be paying it back for your whole working life. :eek:

Yeah the banks are key here , as said above a lot of people will have learned from the last boom and be more cautious in their loaning/spending but there is a new working generation who were not involved in it and would happily take all the money the banks are willing to give them...

So hopefully no credit cards in the post with 5k limits...or letters to up your limit....or 10k loans to 18 year olds..

Mr.McLovin

average wage reported to have dropped year on year from CSO today...

let the good times roll :rolleyes:

harr

House beside me on market for 2 years lowest it was going for 75,000 , sold last week for 180,000 . It was purchased in the boom for 390'000 and it's only a 3 bed semi in Kildare .
Also got a letter last week from the bank enquiring did I want a credit card and a few Estate agents letter informing me that they have cash buyers for my house if I wanted to sell. :rolleyes:

Tarzana

Potatoeman wrote: »

A mortgage usually decreases over time where rents increase.

What?

xzanti

Won't be long before Marks & Sparks are back trying to peddle us their decedent sumptuous "not just food, but M&S food" to the tune of The Moody Blues

Barna77

Packed coffee shops at 11.30 am yesterday. Not a chance to sit down for a coffee anywhere.
But people are broke.

Idbatterim

What?

Well the amount you borrowed stays the same, and if the interest rates stay stable enough, which you would expect with the ECB. The mortgage which might not look too cheap now, will probably look like a joke in comparison to the rent for the equivalent property in 10-15 years...

Celly Smunt

Right it's back.

Friend of mine just got a loan to put a deposit down on a second property to rent.


Nothing say's celtic tiger like double lending.

Kichote

Barna77 wrote: »

Packed coffee shops at 11.30 am yesterday. Not a chance to sit down for a coffee anywhere.
But people are broke.

A Lannister always pays his debts

KungPao

Barna77 wrote: »

Packed coffee shops at 11.30 am yesterday. Not a chance to sit down for a coffee anywhere.
But people are broke.

Many of these people have convinced themselves that they just need a cawwfee, even though they may be potless. They could just have a free tea/coffee in the office kitchenette of course, but the coffee must made by a barista to keep up appearances.

WilyCoyote

Senna wrote: »

We started buying the "good" toilet paper again, the sear decadence of it, my arse certainly thinks Celtic Tiger 2 is on its way.

DesperateDan wrote: »

I'll just leave this here.

Dan, Dan. You obviously hadn't read the above post by Senna

Tarzana

Idbatterim wrote: »

Well the amount you borrowed stays the same, and if the interest rates stay stable enough, which you would expect with the ECB. The mortgage which might not look too cheap now, will probably look like a joke in comparison to the rent for the equivalent property in 10-15 years...

That's a big if. Meanwhile rents can indeed increase, but can also decrease.

nc6000

Mollyd90 wrote: »

I have a friend who used to do that! She was always trying to make out like she was loaded. Would only go into a local shop for cigarettes if she had a €50 to break. Sicken me hole so she did

She used to put her change in the bin? What was the reasoning behind that, did she not want to carry any coins or something?

Mollyd90

nc6000 wrote: »

She used to put her change in the bin? What was the reasoning behind that, did she not want to carry any coins or something?

She was trying to make out she earned loads of money and didn't need the small change. She was on around €25k.

diograis

Kichote wrote: »

A Lannister always pays his debts

Dunno if this makes any sense wrt to cafes but sure yolo

Bang_Bang

c_man wrote: »

I can't wait til I can start throwing my change in the bin at shops again

I actually witnessed that outside a spar shop, back in 2005.

wiseoldelf34

Electricians tilers and block layers becoming contractors

NightOfTheHunt

Heard this bubble described as the "Celtic Phoenix" on the radio today. I've officially given up all faith in humanity.

WILL NEVER LOG OFF

Barna77 wrote: »

Packed coffee shops at 11.30 am yesterday. Not a chance to sit down for a coffee anywhere.
But people are broke.

coffee costs about €2.50 and you can sit there for a good hour with a friend.

great option if you're on a budget.

it would often have been lunch/ cocktails a few years ago, instead off a cup of coffee.

Export

Mollyd90 wrote: »

She was trying to make out she earned loads of money and didn't need the small change. She was on around €25k.

Molly - I think I love you! Sickening doses!!!!

Export

WILL NEVER LOG OFF wrote: »

coffee costs about €2.50 and you can sit there for a good hour with a friend.

great option if you're on a budget.

it would often have been lunch/ cocktails a few years ago, instead off a cup of coffee.

Years ago, people came around to your house for a cuppa. Totes free

wiseoldelf34

taking a day off during the week because there is plenty of o.t to make up the wages

Hogzy

Vet Thrower wrote: »

There is a huge glut of pent up housing supply that is being artificially kept off the market.

Once prices hit certain levels, waves of sellers (people in negative equity) will be forced onto the market.

This will cause prices to at least stabilise, if not drop again.

What's basically happening is market manipulation on a vast scale, and the Central Bank, the government, the banks, the ECB and IMF are all colluding in it.

If Goldman Sachs were to do something like this sorry, were to get caught doing something like this, there would be uproar - jail the bankers etc.

The majority of this "pent up property" you are referring to is owned by NAMA. The only person stood to gain from holding back the sale of these properties is the taxpayer as it will reduce our overall National Debt when they are eventually sold. The more we get for it the better off we are. No point selling for €10m if we can get €15m in a year or two.

The people in negative equity who will be forced to sell once their property reaches a certain value will still need to live elsewhere therefore there wont be a flood of property on the market in that sense as they will most likely sell to buy.

fleet_admiral

my parents in law booked a trip to yellowstone yesterday 'cause they just felt like going'
Last year they went to belfast for a few days. things are on the up indeed

swimming in a sea

The bust only had a positive effect on me, I just kept working away, job was never under pressure.. but prices dropped and I found it easier to have holidays and nights away due to falling prices, so I hope I don't see the bubble back.

s8n

Export wrote: »

Years ago, people came around to your house for a cuppa. Totes free

What about the cost of tea bag, boiling water, sugar and milk. Not to mention biscuits ?