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Property slowdown in Dublin?

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    #152
    Shoes and Boots
    Closed Accounts Posts: 140 ✭✭Shoes and Boots


    Augeo wrote: »
    The strength of the Euro v sterling wouldn't suggest the printing was an issue :) if it resulted in a recession being avoided, great stuff.


    Markets are more emotional than real economic indicator. The real economy indicators is how much people earn and how much spend, not how much money was thrown on market creating another bubble.The only thing which can move economy forward is money helicopter. There is less and less people who can afford buy property, there is more and more people has emigrate because can't afford pay rent getting minimum wage,there is more and more foreigners coming back to own countries and there is more and more people who will never get final price on market finishing pay mortgages with rates to the banks.The only investment today is invest to creating the product, because creating product you create money. Buy house for rent is suicide, you will never get final value of the house,those days are gone, unless you bought during the recession. Also when is too much players on market there is always biggest risk because markets are emotional not based on economic rules anymore.


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    #153
    Shoes and Boots
    Closed Accounts Posts: 140 ✭✭Shoes and Boots


    The only thing that is "no recession" in Ireland is because nobody from officials says that country is in recession. We are in recession already.


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    #154
    zl1whqvjs75cdy
    Closed Accounts Posts: 4,042 ✭✭✭zl1whqvjs75cdy


    Shoes and Boots wrote: »
    The only thing that is "no recession" in Ireland is because nobody from officials says that country is in recession. We are in recession already.

    We've had two consecutive periods of negative growth? I must have missed that.


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    #155
    [Deleted User]
    Posts: 17,728 ✭✭✭✭ [Deleted User]


    Shoes and Boots wrote: »
    Markets are more emotional than real economic indicator. The real economy indicators is how much people earn and how much spend, not how much money was thrown on market creating another bubble.The only thing which can move economy forward is money helicopter. There is less and less people who can afford buy property, there is more and more people has emigrate because can't afford pay rent getting minimum wage,there is more and more foreigners coming back to own countries and there is more and more people who will never get final price on market finishing pay mortgages with rates to the banks.The only investment today is invest to creating the product, because creating product you create money. Buy house for rent is suicide, you will never get final value of the house,those days are gone, unless you bought during the recession. Also when is too much players on market there is always biggest risk because markets are emotional not based on economic rules anymore.


    Cheers for that speel.

    People emigrating as they can't rent on minimum wage?

    That's the only sentence I can understand from what you posted and the amount of people in that category is minimal.


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    #156
    lawred2
    Registered Users Posts: 24,387 ✭✭✭✭lawred2


    Shoes and Boots wrote: »
    The only thing that is "no recession" in Ireland is because nobody from officials says that country is in recession. We are in recession already.

    based on what metrics?


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    #157
    Shoes and Boots
    Closed Accounts Posts: 140 ✭✭Shoes and Boots


    Augeo wrote: »
    Cheers for that speel.

    People emigrating as they can't rent on minimum wage?

    That's the only sentence I can understand from what you posted and the amount of people in that category is minimal.

    The average salary for mid level qualification worker in Poland is about 750 home, minimal salary there is about 450 as far I remember. Couple in Dublin on minimum wage has 3000 income in Dublin,minus rent 1300-1600,they has 700-850 income per month. Life in Poland cheaper twice than in Ireland, if they doesn't have pay rent at home, they could come back right now. Irish continue emigrate to AU, USA, UK.All Irish economy and rent market stand on cheap labour from Eastern Europe, if all foreigners will back, many companies will not survive, problems started already. To who you gona rent your house, bought at 300K price, when some owners of the companies in Dublin already says that they can't find cheap labour because rents in Dublin sky high and people getting small wages can't afford pay rents? What house price will be in Dublin, when house price in empty Navan will be 100k? I would like tell you that I would prefer work for smaller wage in Navan buying house there for 100k,than work for higher wage in Dublin paying for house 400k! Dublin growing because emigration from small towns, what will happen when house in small town, 60 miles away will cost 5 times less?


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    #158
    [Deleted User]
    Posts: 17,728 ✭✭✭✭ [Deleted User]


    Shoes and Boots wrote: »
    The average salary for mid level qualification worker in Poland is about 750 home, minimal salary there is about 450 as far I remember. Couple in Dublin on minimum wage has 3000 income in Dublin,minus rent 1300-1600,they has 700-850 income per month..........

    .All Irish economy and rent market stand on cheap labour from Eastern Europe...

    So in Ireland the minimum wage couple have 1400/month after they pay their rent.

    They might earn that in Poland if they are both "mid level". The Irish option looks good so.

    The Irish economy is in no way as dependent on cheap labour from eastern Europe as you think.


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    #159
    Shoes and Boots
    Closed Accounts Posts: 140 ✭✭Shoes and Boots


    donkeyoaty0099 wrote: »
    We've had two consecutive periods of negative growth? I must have missed that.
    We had elections mate, the economy during the elections always "grow" because politicians doesn't like unexpected questions during period of election. They like saying how hard they worked, how nice country "growing" to be reelected. I don't have tell you what will happen with journalist or economist who will start tell truth,they will loose jobs within hours and will brought to,.... by all who making money telling lie.Look to small towns shops, there is streets of closed shops which was closed and are closed since recession started. Is that economy growth? People in shops buy food on sales,when nobody was standing beside shelves during 2007 bum, is that economy growth? New cars sales down each month, is that economy growth? If you see nice life in Dublin, it's doesn't mean same life outside.


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    #160
    Shoes and Boots
    Closed Accounts Posts: 140 ✭✭Shoes and Boots


    Augeo wrote: »

    The Irish economy is in no way as dependent on cheap labour from eastern Europe as you think.


    Really ? I know companies with 100 and more staff were 90 per cent is emigrants from Eastern Europe and all renting houses.What about that ? Also I know some of irish lads with high education who already in UK.Call center or Amazon or Facebook could open them offices in Poland tomorrow,what will you do in Dublin then ? 1000 jobs in call centers in Dublin show significant growth of economy ? 1000 emigrants to UK,AU and USA leave Dublin airport every week !


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    #161
    wordofwarning
    Closed Accounts Posts: 697 ✭✭✭wordofwarning


    Shoes and Boots wrote: »
    Really ? I know companies with 100 and more staff were 90 per cent is emigrants from Eastern Europe and all renting houses.What about that ? Also I know some of irish lads with high education who already in UK.Call center or Amazon or Facebook could open them offices in Poland tomorrow,what will you do in Dublin then ? 1000 jobs in call centers in Dublin show significant growth of economy ? 1000 emigrants to UK,AU and USA leave Dublin airport every week !

    I know dozens of companies with not a single Eastern Europe. I hate to rain on your parade, but high value, high wage companies in Dublin are not 90% Eastern Europeans... I would hazard a guess that not even 1% of employees working in the IFSC are Eastern European. Eastern European are a complement, not a substitute for Irish labour ie Eastern Europeans are not doing the same jobs as Irish.

    Irish people have always gone to the UK, US, Canada etc. It is a great way to advance your career. I would not call someone with a first from UCD going to Australia to work in the workback in Australia picking fruit as emigrating. I know you think 1k are leaving per week. But a lot are moving home too

    Do you really think the thousands of German, French, American, British, Irish etc workers would even considering moving to Poland? IT companies are in Dublin to hire other nationalities to move here.

    FYI you have yet to prove Dublin is in recession. The cost of living and wages in Poland does not mean Ireland is in a recession


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    #162
    Shoes and Boots
    Closed Accounts Posts: 140 ✭✭Shoes and Boots


    wordofwarning wrote: »
    I know dozens of companies with not a single Eastern Europe. I hate to rain on your parade, but high value, high wage companies in Dublin are not 90% Eastern Europeans... I would hazard a guess that not even 1% of employees working in the IFSC are Eastern European. Eastern European are a complement, not a substitute for Irish labour ie Eastern Europeans are not doing the same jobs as Irish.

    Irish people have always gone to the UK, US, Canada etc. It is a great way to advance your career. I would not call someone with a first from UCD going to Australia to work in the workback in Australia picking fruit as emigrating. I know you think 1k are leaving per week. But a lot are moving home too

    Do you really think the thousands of German, French, American, British, Irish etc workers would even considering moving to Poland? IT companies are in Dublin to hire other nationalities to move here.

    FYI you have yet to prove Dublin is in recession. The cost of living and wages in Poland does not mean Ireland is in a recession

    So,all your named companies has own bakery, lorry companies, fruit and wedge warehouse, hotels, laundry, etc were is only Irish do the job and none of emigrants? Let's call this truth.

    There will be no recession, because there is no emigrants from Eastern Europe and plenty Irish coming back with bags of cash for buying houses in Dublin for no matter what price. Let's keep it truth which will make everybody happy.

    Everybody, get hurry! Amount of houses in Dublin are limited, germans, french, etc gona buy them all! Don't loose your chance!Last chance!


    I remember when in 2006,I told many my friends that recession comming to Ireland, some of them was very angry and called me idiot. It's was were funny after, when we all lost job and some of those who called me idiot,got bring the keys from house to the bank.

    Also I remember when I spoke with manager of big retail chain in Ireland in 2005,he told me : Great times coming to Ireland,I will do just little bit of work and have life at full.He was right ! When recession started he lost his job, had little bit of work and was enjoy life at full !


    If you eat today, it's doesn't mean you will never starving.

    I finished


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    #163
    ArnieSilvia
    Registered Users Posts: 285 ✭✭ArnieSilvia


    IMO the biggest difference between now and 2006 is the demographics of the rental market. After 2008, a lot of Eastern Europeans left leaving a gap in the rental market. These vacant rentals were filled by Irish from the West (Mayo, Donegal etc) and you can see evidence of that every Friday on N4, N7. The prices went up but wages didn't which is forcing these people either to emigrate or cut spending. These people don't have disposable income but will stay in Ireland hence I assume that house prices will remain steady as a lot of people renting would aim to buy eventually but at the same time they wouldn't have much more buying power as crazy rents squeeze every cent out of them.


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    #164
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Guys- this is not an appropriate venue for a diatribe on politics, political systems- and the likes. Move back on topic- which in this instance is specifically, the slowdown in the Dublin Property Market- nothing else. If you want to discuss socialism, eastern europeans- and bizarre conspiracy theories about false inflation rates etc- there are forums on this site- where such theories are welcome- this is not one of them.


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    #165
    LirW
    Registered Users Posts: 4,825 ✭✭✭LirW


    Eg. slowdown and queues: There are currently 2 building sides I'm passing on a regular base, one is on the Ballymun Road/ Glasnevin Ave junction and that was lying idle for years. Still in the building and it looks like a bunch of duplexes, but I have no idea. The other one is close to Omni and will launch in August, have to find details about that one because on the north side, especially the closer you come to the coast, everything is snapped up, it can be in need in total refurbishment, people buy literally everything here as it seems and a lot of people take the opportunity and try to sell up. I have no idea if it's an actual thing on the southside.


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