Property Market 2017

Monife

jamesthepeach wrote: »

Funny. My friend bought there the year after I did. And it cost a hell of a lot more than my house. Nice area. Built in the 80s.

I was mistaken, it was 1994 when she bought it and she sold it 10 years later for €323,000!!

keane2097

My biggest beef with people born after 1990 is how they wrecked the economy and left the rest of us with an enormous debt mountain.

EDIT: I'm obviously being sarcastic.

jamesthepeach

keane2097 wrote: »

My biggest beef with people born after 1990 is how they wrecked the economy and left the rest of us with an enormous debt mountain.

Always has to be someone else to blame eh
Nobody wrecked the economy by themselves.
A TBH it was never really in great shape ever. Just the illusion that it was for about a decade.

0gac3yjefb5sv7

Wonder is there any source of data of the salary mortgage ratio for different areas in Dublin over the past 40/50 years. Would be very interesting.

keane2097

jamesthepeach wrote: »

Always has to be someone else to blame eh
Nobody wrecked the economy by themselves.
A TBH it was never really in great shape ever. Just the illusion that it was for about a decade.

I have no one to blame for anything, I'm alright Jack. I'm not one of the people you are crying about anyway, a bit longer in the tooth sadly.

Nice to have the illusion of the enormous debt mountain to remind us anyway, eh.

draiochtanois

This post has been deleted.

keane2097

keane2097 wrote: »

My biggest beef with people born after 1990 is how they wrecked the economy and left the rest of us with an enormous debt mountain.

Peak property prices were 2007 ................. someone born in 1990 was 17 at the time. They has nothing to do with wrecking the economy.

Was mainly ole pr1cks really in their 40/50s at the time who you should have your beef with

keane2097

Augeo wrote: »

Peak property prices were 2007 ................. someone born in 1990 was 17 at the time. They has nothing to do with wrecking the economy.

Was mainly ole pr1cks really in their 40/50s at the time who you should have your beef with

That's the joke!

Honestly, if ever a group were entitled to a bit more than standard inter-generational crankiness it's the people born in the 90s who came along just in time for them and all their friends to have to emigrate join the work force after the previous mob had managed to drive the economy off a cliff, slash allowances and jack up taxes .

jamesthepeach

keane2097 wrote: »

That's the joke!

Honestly, if ever a group were entitled to a bit more than standard inter-generational crankiness it's the people born in the 90s who came along just in time for them and all their friends to have to emigrate join the work force after the previous mob had managed to drive the economy off a cliff, slash allowances and jack up taxes .

Ahem . "Jack up taxes".
Do you know how much those guys you hate so much had to pay in taxes?

But, as I said before. The poor me generation will never listen anyway. Not mature enough yet to take a full view . Too eager to just shift the blame for anything and everything. That won't change - until they get to about their 40s. Then they'll be trying to explain the world to the next crowd.

keane2097

jamesthepeach wrote: »

Ahem . "Jack up taxes".
Do you know how much those guys you hate so much had to pay in taxes?

Which crowd are you talking about?

jamesthepeach wrote: »

But, as I said before. The poor me generation will never listen anyway. Not mature enough yet to take a full view . Too eager to just shift the blame for anything and everything. That won't change - until they get to about their 40s. Then they'll be trying to explain the world to the next crowd.

ok

quadrifoglio verde

keane2097 wrote: »

That's the joke!

Honestly, if ever a group were entitled to a bit more than standard inter-generational crankiness it's the people born in the 90s who came along just in time for them and all their friends to have to emigrate join the work force after the previous mob had managed to drive the economy off a cliff, slash allowances and jack up taxes .

As an early nineties boy our generation are only in our mid twenties.
It's the 80s kids i feel sorry for.
They came out of college with only the dole queue to look forward to and had no choice but to emigrate.

As a college fresher in 2010, the main effect of the recession was having less money for drink and less credit to borrow for travelling

frefrefre

H

Augeo wrote: »

keane2097 wrote: »

My biggest beef with people born after 1990 is how they wrecked the economy and left the rest of us with an enormous debt mountain.

Peak property prices were 2007 ................. someone born in 1990 was 17 at the time. They has nothing to do with wrecking the economy.

Was mainly ole pr1cks really in their 40/50s at the time who you should have your beef with

He's being sarcastic, just having a go at the self entitled boomers you get on these threads...I think!

jamesthepeach

quadrifoglio verde wrote: »

As an early nineties boy our generation are only in our mid twenties.
It's the 80s kids i feel sorry for.
They came out of college with only the dole queue to look forward to and had no choice but to emigrate.

As a college fresher in 2010, the main effect of the recession was having less money for drink and less credit to borrow for travelling

If you left school in the 80s you met all of your mates, the ones left in the country anyway in the sole office in a tuesday. It was a great way of keeping in touch. The one who auld fella had a car used to ferry people up and down to the dole office and make 50p a head on top of the dole.

Great days.

The millennials should watch boys from the black stuff. It's set in Liverpool but it was exactly the same here in the 80s.

The_Conductor

frefrefre wrote: »

H

He's being sarcastic, just having a go at the self entitled boomers you get on these threads...I think!

+1

Sarcasm doesn't travel very well on the internet unfortunately.

Yes- its hard not to be sarcastic- and depressed, in equal measure- esp. how every man, woman and child in the country has a debt of 45k thanks to the government and the bailout- which our children and grand-children will have to pay.

The big thing with the recovery- is save a few select sectors- while people can get jobs- pay has not recovered- however, we continue to accept run-away prices- hell- we've increased bin charges and electricity charges coming in in September...........

myshirt

It is only a matter of time that this stress with the housing market leads to a sweaty brow needing to be wiped with a 50 euro note.

The_Conductor

myshirt wrote: »

It is only a matter of time that this stress with the housing market leads to a sweaty brow needing to be wiped with a 50 euro note.

Images of angry villagers from Minecraft- marching on our intrepid political classes- is more what I have in my mind........ A decent mob- complete with pitch forks.

Its quite remarkable how placid and accepting of their circumstances- the Irish have been- you know they're something special- when the IMF hold them up as poster boys- years after they've left the place- and the government have just invited the IMF back, on a wholly voluntary basis- so they have a scapegoat in the corner to point at- when the angry hoardes start looking for goons to focus their ire on......... Yep- the government have invited the IMF back- a first for an allegedly first world economy- they want another prescription from the IMF- so they can be seen to be prudent- and not get blamed for it............

draiochtanois

This post has been deleted.

The_Conductor

The_Conductor wrote: »

.............

The big thing with the recovery- is save a few select sectors- while people can get jobs- pay has not recovered- however, we continue to accept run-away prices- hell- we've increased bin charges and electricity charges coming in in September...........

Might not be a bad thing

jamesthepeach

Sure wasn't everyone screaming about everyone else getting paid too much and that their wages should be cut. And calling for people to be taxed more. Well guess what. Screaming for the other guy to get fcuked won't just result in him being fcuked the screamers will get it too eventually.

Next stop on the hitlist is the contributory pension and moving the retirement age up.

Private sector pay is largely controlled by supply & demand.

Public sector has weird set ups where clerical officers for example with a decades service get paid as much or more than fully trained & experienced nurses and gardai, lunacy.

ArnieSilvia

jamesthepeach wrote:

Today's problem is that average wage has been replaced by average household income, which has a knock on effect on affordability and property prices.

Great post.

You can extend this to disposable income too. In case of our family, 10 years ago we had more disposable income than today. The thing is, 10 years ago we were one income family and now both of us are working.

Baby01032012

ArnieSilvia wrote: »

Great post.

You can extend this to disposable income too. In case of our family, 10 years ago we had more disposable income than today. The thing is, 10 years ago we were one income family and now both of us are working.

+1 on above. Kids are a huge factor in having less income though. I wish my Creche fees were the same as mortgage.

Rothmans

http://www.thejournal.ie/prosperity-foreign-talent-ireland-3-3540838-Aug2017/

Above article is about the housing shortage scaring significant amount of talent in the tech sector away from Ireland.
Obviously bad news for the like of Google, Facebook and the tech industry generally which has a strong presence in Ireland, and a sector which provides alot of jobs and downstream benefits, no doubt. I wonder will the likes of the above finally get the government into gear, given that the housing shortage is most likely going to have a negative economic effect.

Bob24

Rothmans wrote: »

I wonder will the likes of the above finally get the government into gear, given that the housing shortage is most likely going to have a negative economic effect.

I personally doubt so. This is not a new issue and multinational companies have been complaining about it for a while with the government doing nothing significant to address the problem. Call me pessimistic but I don't see why it would change now (first time I saw this type of news reports I was like you and thought if there is a threat to FDI it will be taken seriously, but the past 2-3 years proved me wrong).

See this from 2 years ago saying pretty much the same thing as the article you linked (it is the first one which came up in Google but I remember seeing others): http://www.independent.ie/business/irish/paypal-asking-its-staff-for-spare-rooms-in-rental-crisis-31575796.html

OwlsZat

Rothmans wrote: »

http://www.thejournal.ie/prosperity-foreign-talent-ireland-3-3540838-Aug2017/

Above article is about the housing shortage scaring significant amount of talent in the tech sector away from Ireland.
Obviously bad news for the like of Google, Facebook and the tech industry generally which has a strong presence in Ireland, and a sector which provides alot of jobs and downstream benefits, no doubt. I wonder will the likes of the above finally get the government into gear, given that the housing shortage is most likely going to have a negative economic effect.

Investors seeking maximum yields per sq meter invested hand over fist in student accomodation. Lots in progress some finished. Suffice to say the rents they are demanding for the hugely needed beds are premium. Once we saturated that space the next anticipated boom was office space. Fresh on the wave of Brexit optimism investors piled in to build Dublin offices. The city is currently awash with cranes building offices cubes on every corner. Current reports are that the office space market is slowing. Brexit jobs aren't coming at the anticipated rate as each feasibility study shows the farcical situation workers would face trying to get accomodation. When will we learn how to leverage investors for actual good.

Henbabani

http://www.independent.ie/irish-news/politics/fair-deal-change-nursing-home-residents-will-be-encouraged-to-lease-out-their-homes-36028561.html
first good move from the [font=Georgia, serif]Housing Minister Eoghan Murphy, better than nothing and [/font][font=Georgia, serif]definitely a good vision to see all these problems with those vacant homes.[/font]
[font=Georgia, serif]hope and belive things going to change in the near future.[/font]

The_Conductor

Henbabani wrote: »

http://www.independent.ie/irish-news/politics/fair-deal-change-nursing-home-residents-will-be-encouraged-to-lease-out-their-homes-36028561.html
first good move from the [font=Georgia, serif]Housing Minister Eoghan Murphy, better than nothing and [/font][font=Georgia, serif]definitely a good vision to see all these problems with those vacant homes.[/font]
[font=Georgia, serif]hope and belive things going to change in the near future.[/font]

Good luck to him with that one.
So- he reckons he'll free up 'at least 25,000 homes in high demand areas' (out of over 190,000 nationally) by making people in their senior years landlords...........
Someone really should sit down with the Minister for a few hours and point out to him the rights and obligations of landlords and tenants towards one another- and ask how he imagines Mr. Kelly in his 90s in a nursing home, is in any fit state to discharge his legal obligations towards his prospective tenants?

Then again- the reason most of these properties are vacant in the first place- is the owners don't want to sell, or downsize- and with all the rights tenants have- don't want a tenant in there either..........

The carrot isn't going to work on this daft proposal- the stick may to a small extent- the carrot, most certainly, not a snowballs chance in hell........

Of all the hairbrained ideas the Minister has had- this one takes the cookie.

Bob24

^^^^^^

This.

The annoucement is 100% PR and 0% practical. Pretty depressing to see this is the kind of route the minister is choosing.

c montgomery

Henbabani wrote: »

http://www.independent.ie/irish-news/politics/fair-deal-change-nursing-home-residents-will-be-encouraged-to-lease-out-their-homes-36028561.html
first good move from the [font=Georgia, serif]Housing Minister Eoghan Murphy, better than nothing and [/font][font=Georgia, serif]definitely a good vision to see all these problems with those vacant homes.[/font]
[font=Georgia, serif]hope and belive things going to change in the near future.[/font]

If this is the best they can come up with then it will be a long time b4 this crisis is resolved

Henbabani

The_Conductor wrote: »

Henbabani wrote: »

http://www.independent.ie/irish-news/politics/fair-deal-change-nursing-home-residents-will-be-encouraged-to-lease-out-their-homes-36028561.html
first good move from the [font=Georgia, serif]Housing Minister Eoghan Murphy, better than nothing and [/font][font=Georgia, serif]definitely a good vision to see all these problems with those vacant homes.[/font]
[font=Georgia, serif]hope and belive things going to change in the near future.[/font]

Good luck to him with that one.
So- he reckons he'll free up 'at least 25,000 homes in high demand areas' (out of over 190,000 nationally) by making people in their senior years landlords...........
Someone really should sit down with the Minister for a few hours and point out to him the rights and obligations of landlords and tenants towards one another- and ask how he imagines Mr. Kelly in his 90s in a nursing home, is in any fit state to discharge his legal obligations towards his prospective tenants?

Then again- the reason most of these properties are vacant in the first place- is the owners don't want to sell, or downsize- and with all the rights tenants have- don't want a tenant in there either..........

The carrot isn't going to work on this daft proposal- the stick may to a small extent- the carrot, most certainly, not a snowballs chance in hell........

Of all the hairbrained ideas the Minister has had- this one takes the cookie.

im really don't believe that this action will solve one of the biggest probelm - vacant houmes, but it's a good start in the big road. the minister should do more but we can that he is targeted this issue as a big target - this is the good thing that you can take from that step that i wrote above.