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Has property gone mad again

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    #122
    trobbin
    Registered Users Posts: 181 ✭✭trobbin


    handlemaster wrote: »
    trobbin wrote: »

    History has a habit of repeating itself. Not every human decision os rational. Property buying falls into this. When prices are back to the crash level. Then worry. In the mean time buy or pay high rent

    So are you saying people that are buying houses now aren't being rational? Ok.


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    #123
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    trobbin wrote: »
    handlemaster wrote: »

    So are you saying people that are buying houses now aren't being rational? Ok.

    Didnt say that. Read again .


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    #124
    athtrasna
    Closed Accounts Posts: 13,420 ✭✭✭✭athtrasna


    Mod note

    Posters are reminded to remain civil when posting and to take any disagreements to pm please.


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    #125
    Yourself isit
    Closed Accounts Posts: 3,257 ✭✭✭Yourself isit


    handlemaster wrote: »
    I would guess people who didnt spend their youth spending their money on drink and fags.got a good education. Bought in twenties . Now buying again in 40ies

    Hard to know. My guess is people who inherited, got gifts or bought abroad. Also some IT people who lucked out on stock.


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    #126
    Yourself isit
    Closed Accounts Posts: 3,257 ✭✭✭Yourself isit


    Samuel T. Cogley wrote: »
    Who knows with the instability of Europe and interest rates. Hopefully nowhere near that again but never say never.

    In regards to Dublin property prices some areas are very high but others not so much. It's not inconceivable and possibly even preferable that Dublin property continues to rise at c.2-4% per year inline with jobs and spending power. Supply needs to come on stream in the suburbs and offer reasonable homes in the c. 300K bracket but it's not 'madness' that homes within the M50 should be out of reach of the likes of me and households on average incomes. Living within the bounds of a major 'city centre' is not an average thing, most people live in suburbs and commute in.

    The city centre of Dublin is a few blocks. It's not "within the M50". Nor is Dublin a major city. 1M people and more should be able to fit in with proper density.

    As I said before all of these arguments are rehashed from 2006. None of them explain the present boomlet or why it's not going to last.


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    #127
    Samuel T. Cogley
    Registered Users Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    Yourself isit wrote: »
    The city centre of Dublin is a few blocks. It's not "within the M50". Nor is Dublin a major city. 1M people and more should be able to fit in with proper density.

    As I said before all of these arguments are rehashed from 2006. None of them explain the present boomlet or why it's not going to last.

    It doesn't have proper density and it's unlikely to get it in the next 50 or so years. Dublin property is not overly expensive and prices will continue to rise as the economy gets better. Hopefully we'll see some relief with supply but I expect the best case scenario will be a stagnation of prices.

    If we do have another crash (we will of course eventually) as with the last crash there will be very little property available as people batten down the hatches and ride it out like we did last time, and very little credit.


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    #128
    Yourself isit
    Closed Accounts Posts: 3,257 ✭✭✭Yourself isit


    Samuel T. Cogley wrote: »
    It doesn't have proper density and it's unlikely to get it in the next 50 or so years. Dublin property is not overly expensive and prices will continue to rise as the economy gets better. Hopefully we'll see some relief with supply but I expect the best case scenario will be a stagnation of prices.

    If we do have another crash (we will of course eventually) as with the last crash there will be very little property available as people batten down the hatches and ride it out like we did last time, and very little credit.

    What happened last time was a massive bailout that nearly financially crippled the system. Theres plenty of space to build within Dublin.

    Prices will fall for any number of reasons outside political control (brexit, trump but more importantly interest rates rising) but also because of politics. The FG demand side solutions won't work (designed not to work in fact) but they aren't the only game in town. Supply can be encouraged and political processes will guarantee that if more and more people are in a position where they can't buy houses (or in my case have family members who can't - like my sister) they won't vote for the status quo.

    In other words people will vote for more housing supply.

    As for what happens when supply meets demand - well prices won't stagnate but fall. Prices remain historically high relative to wages. In a normal credit environment that means that most people can't afford a house.


    This is unlike 2006 the banks don't now guarantee everybody a loan. Back then prices were crazy but you could get a house if you had a job. The present government has done all in its power to reduce to effect of the sane central bank rules by tax breaks but it's not effecting supply but prices.
    Future governments will do more to increase supply.


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    #129
    BBMcQ
    Registered Users Posts: 1,324 ✭✭✭BBMcQ


    Yourself isit wrote: »
    In other words people will vote for more housing supply.

    The vast majority of the electorate either have property as a pension safety net or are in negative equity from the 00's. They see rising prices as a good thing. A minority of the population are FTB and this is a minuscule percentage of the electorate.

    The butchers vote for Christmas, they turkeys don't.


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    #130
    athtrasna
    Closed Accounts Posts: 13,420 ✭✭✭✭athtrasna


    Please let's leave the politics out of this thread. Thanks


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    #131
    76544567
    Registered Users Posts: 465 ✭✭76544567


    If there are more properties becoming available in the city center , many of the people in the burbs who already own property will be bidding on the new city center ones, leaving their suburban properties for everyone else.
    Ftbs won't be able to compete on the city center ones so will end up competing on the suburban ones.
    Perhaps even the people living further out will be interested in the suburbs too.


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    #132
    Samuel T. Cogley
    Registered Users Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    76544567 wrote: »
    If there are more properties becoming available in the city center , many of the people in the burbs who already own property will be bidding on the new city center ones, leaving their suburban properties for everyone else.
    Ftbs won't be able to compete on the city center ones so will end up competing on the suburban ones.
    Perhaps even the people living further out will be interested in the suburbs too.

    You wouldn't get me back into CC Dublin with a crowbar these days! :D


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    #133
    76544567
    Registered Users Posts: 465 ✭✭76544567


    Samuel T. Cogley wrote: »
    You wouldn't get me back into CC Dublin with a crowbar these days! :D

    Me neither, but it seems we are in the minority.


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    #134
    HiGlo
    Registered Users Posts: 561 ✭✭✭HiGlo


    76544567 wrote: »
    If there are more properties becoming available in the city center , many of the people in the burbs who already own property will be bidding on the new city center ones, leaving their suburban properties for everyone else.
    Ftbs won't be able to compete on the city center ones so will end up competing on the suburban ones.
    Perhaps even the people living further out will be interested in the suburbs too.

    I'm not sure I understand your logic here. Or follow where it came from?

    Who are these people in the "burb's" looking to move into the city centre??? Like, are you meaning the actual city centre?? As in Dub 1 & 2 and nearby? Or are you referring to city centre as anything within M50? :confused::confused:


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    #135
    76544567
    Registered Users Posts: 465 ✭✭76544567


    HiGlo wrote: »
    I'm not sure I understand your logic here. Or follow where it came from?

    Who are these people in the "burb's" looking to move into the city centre??? Like, are you meaning the actual city centre?? As in Dub 1 & 2 and nearby? Or are you referring to city centre as anything within M50? :confused::confused:

    Read the threads going g back years on here and you will get a feel for the locations people have been complaining about not being able to afford a house in.


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    #136
    HiGlo
    Registered Users Posts: 561 ✭✭✭HiGlo


    76544567 wrote: »
    Read the threads going g back years on here and you will get a feel for the locations people have been complaining about not being able to afford a house in.

    Riiiiiiiiiight.........
    Yeah, I'm totally going to do that.
    For sure. :rolleyes:


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    #137
    76544567
    Registered Users Posts: 465 ✭✭76544567


    HiGlo wrote: »
    Riiiiiiiiiight.........
    Yeah, I'm totally going to do that.
    For sure. :rolleyes:


    Sorry, can't do it for you. I wish i could, but i cant.


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    #138
    .......
    Closed Accounts Posts: 9,057 ✭✭✭.......


    This post has been deleted.


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    #139
    76544567
    Registered Users Posts: 465 ✭✭76544567


    ....... wrote: »
    Who is trying to move from the suburbs into the city centre?

    I cant imagine anyone with a family in the suburbs moving children into a city centre apartment or ex corpo house?

    Movement is usually in the opposite direction.

    Another one?


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    #140
    .......
    Closed Accounts Posts: 9,057 ✭✭✭.......


    This post has been deleted.


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    #141
    HiGlo
    Registered Users Posts: 561 ✭✭✭HiGlo


    76544567 wrote: »
    Sorry, can't do it for you. I wish i could, but i cant.

    Of course not. I wouldn't expect you to.

    I mean, if you aren't going to make a valid, clear point in the first place, I'm hardly going to expect you to back it up with evidence.



    I think the property prices are creeping right back up, but i wouldn't expect they'll get to 2006/7 levels.

    Around where i live there's quite a few new developments of fancy 4 & 5 bedroom houses being built. (D14, 16, 18, 6w area) Is this where the money is now for developers?
    There aren't many new builds with apartments or 2/3 bed houses.... (or am I just not noticing them!?)


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    #142
    mortimer33
    Registered Users Posts: 135 ✭✭mortimer33


    HiGlo wrote: »
    Around where i live there's quite a few new developments of fancy 4 & 5 bedroom houses being built. (D14, 16, 18, 6w area) Is this where the money is now for developers?
    There aren't many new builds with apartments or 2/3 bed houses.... (or am I just not noticing them!?)

    I live a little closer to town than you but I see the opposite. Nothing but planning applications for 3-4 storey developments of 1-3 bed apts being submitted..usually they have some office/retail space attached.


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    #143
    PhoenixParker
    Registered Users Posts: 2,677 ✭✭✭PhoenixParker


    HiGlo wrote: »
    Of course not. I wouldn't expect you to.

    I mean, if you aren't going to make a valid, clear point in the first place, I'm hardly going to expect you to back it up with evidence.



    I think the property prices are creeping right back up, but i wouldn't expect they'll get to 2006/7 levels.

    Around where i live there's quite a few new developments of fancy 4 & 5 bedroom houses being built. (D14, 16, 18, 6w area) Is this where the money is now for developers?
    There aren't many new builds with apartments or 2/3 bed houses.... (or am I just not noticing them!?)

    Where we are they're building houses and apartments but the houses are going up first. A few other developments I know of are the same. Itmght be what's happening near you too.


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    #144
    Yourself isit
    Closed Accounts Posts: 3,257 ✭✭✭Yourself isit


    BBMcQ wrote: »
    The vast majority of the electorate either have property as a pension safety net or are in negative equity from the 00's. They see rising prices as a good thing. A minority of the population are FTB and this is a minuscule percentage of the electorate.

    The butchers vote for Christmas, they turkeys don't.

    I'd vote for housing supply even though I own. No man is an island. The opinion polls show people are concerned.


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    #145
    Barnavave
    Registered Users Posts: 191 ✭✭Barnavave


    €250k for a shed in Clogherhead, that's mad Ted https://www.daft.ie/louth/houses-for-sale/clogherhead/44-clogher-cove-clogherhead-louth-1402563/


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    #146
    dr.fuzzenstein
    Banned (with Prison Access) Posts: 16,620 ✭✭✭✭dr.fuzzenstein


    Barnavave wrote: »
    €250k for a shed in Clogherhead, that's mad Ted https://www.daft.ie/louth/houses-for-sale/clogherhead/44-clogher-cove-clogherhead-louth-1402563/

    Well, the Irish know that annual double digit property price inflation is the greatest thing in the world. First it was achieved by throwing money around, this time through strangling supply, because another thing that's revered over anything else is make sure everything is too little, too small, too flimsy, too expensive and never, ever throw in anything for free.


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    #147
    Cuddlesworth
    Registered Users Posts: 13,995 ✭✭✭✭Cuddlesworth


    Secure gated development.

    Shed is beside a open field and beach. The only thing secure about it would be the gate you have to walk around.

    Some yank will end up buying it though.


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    #148
    Barnavave
    Registered Users Posts: 191 ✭✭Barnavave


    Cuddlesworth wrote: »
    Secure gated development.

    Shed is beside a open field and beach. The only thing secure about it would be the gate you have to walk around.

    Some yank will end up buying it though.

    Surprisingly it hasn't yet sold, though there is another one for sale in the same development for a bargain price of €275k and an actual house made from real bricks that was featured in this weeks Sunday Times for a complete steal at €380k.

    Have we learned nothing?


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    #149
    Hollister11
    Closed Accounts Posts: 5,482 ✭✭✭Hollister11


    People can say 'have we learned nothing' all day want. The fact is we have a housing shortage, and while the prices may be expensive. People need somewhere to live. If they have the money they will pay it, mad or not


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    #150
    mloc123
    Registered Users Posts: 9,454 ✭✭✭mloc123


    Barnavave wrote: »
    Surprisingly it hasn't yet sold, though there is another one for sale in the same development for a bargain price of €275k and an actual house made from real bricks that was featured in this weeks Sunday Times for a complete steal at €380k.

    Have we learned nothing?

    I just love this smug response from people whenever this pops up... Spoken no doubt from somebody that owns their home and doesn't have to worry about the current rental crisis.


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    #151
    Barnavave
    Registered Users Posts: 191 ✭✭Barnavave


    mloc123 wrote: »
    I just love this smug response from people whenever this pops up... Spoken no doubt from somebody that owns their home and doesn't have to worry about the current rental crisis.

    No spoken by someone old enough to have been through this twice now and can see the same mistakes being made all over again.


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