how can there be almost no inflation in Ireland if property has gone up by so much?

armabelle

Suryavarman wrote: »

Yes it is.

so with a 1% raise in my salary annualy, I should be happy with that too right as my salary is now worth more than inflation?

Suryavarman

armabelle wrote: »

so with a 1% raise in my salary annualy, I should be happy with that too right as my salary is now worth more than inflation?

That's for you to decide.

Arthur Daley

Good to question these stats. But most people can use common sense and just don't believe the inflation stats the experts peddle. They are useful for employers to throw at employees each year to keep wages and pensions supressed.

A wall of money printing is running it's course through this decade. We have not yet been handed the final bill for this largesse by the central banks. Thanks to this cheap money supply there are bubbles forming in everything from property and the ftse to fine art and classic cars.

armabelle

Suryavarman wrote: »

That's for you to decide.

would you be happy with a 1% rise in your salary?

Geuze

armabelle wrote: »

And you personally think that the survey is an accurate representation of inflation in Ireland?

I do.

I have faith in the CSO.

Now, it is well known that different groups of people can face different inflation rates.

If you were a tenant in Dublin, who spent a lot on health insurance, and facing those two costs rise a lot over the last five years, you might dismiss the CPI. But it is a national price index, not specific to one cohort.

armabelle

Geuze wrote: »

I do.

I have faith in the CSO.

Now, it is well known that different groups of people can face different inflation rates.

If you were a tenant in Dublin, who spent a lot on health insurance, and facing those two costs rise a lot over the last five years, you might dismiss the CPI. But it is a national price index, not specific to one cohort.

Why would a tenant in Dublin spend more over the past 5 years on health insurance and rent as opposed to a tenant in Cork or Limerick. Haven't rents and insurance gone up for people in those towns as well?

So I guess only tenants are affected by the huge increase in property then and those paying mortgages would actually be in a better position if they purchased their houses post 2009 right?

Finally, do you know if there is a place where one can see the rental vs mortgage stats for Ireland? So, how many people own and how many people rent and how many people have mortgages?

Geuze

armabelle wrote: »

Why would a tenant in Dublin spend more over the past 5 years on health insurance and rent as opposed to a tenant in Cork or Limerick. Haven't rents and insurance gone up for people in those towns as well?

So I guess only tenants are affected by the huge increase in property then and those paying mortgages would actually be in a better position if they purchased their houses post 2009 right?

Finally, do you know if there is a place where one can see the rental vs mortgage stats for Ireland? So, how many people own and how many people rent and how many people have mortgages?

Rents have risen faster in Dublin than elsewhere, so a Dublin tenant's inflation rate may be higher than other people's.

Census 2011 has info on home ownership.

http://www.cso.ie/en/census/census2011reports/

Try profile 4 or 5.

Geuze

armabelle wrote: »

So I guess only tenants are affected by the huge increase in property then and those paying mortgages would actually be in a better position if they purchased their houses post 2009 right?

Yes, as mortgage rates have fallen.

The interest cost on my tracker fell sharply.

maninasia

It's an investment until it's a loss..and that's the problem with assuming it's JUST an investment whereas it could also be classified as an expense at times.

draiochtanois

This post has been deleted.

Suryavarman

armabelle wrote: »

would you be happy with a 1% rise in your salary?

No. Why do you ask?