Property Market 2020

Claw Hammer

Assetbacked wrote: »

My guess would be a rental tax credit combined with rent freeze, brought in as an emergency measure with any breaches strongly enforced. Don't think many would complain as it ensures security for both landlords and tenants.

What is the point of a rent freeze? Rents will be falling very shortly if they haven't already. If tenants lose their jobs the tax credit is damn all use to them. What would be needed is the reintroduction of Rent Allowance to tide them over, not simply expect landlords to sit at home with no rent coming in.

landofthetree

Cairn homes share price down 25% and still falling.

Glenveagh down 18% and falling.


Anybody who thinks prices aren't falling is in the aniexty/denial phase.

https://www.mymoneyblog.com/wordpress/wp-content/uploads/2017/12/cyclewhere.gif

OwlsZat

beggars_bush wrote: »

If people aren't working, rents will fall

There could be a lot of service employees heading home. I'll be shocked if there it's a glut of new apts to rent.

OwlsZat

landofthetree wrote: »

Cairn homes share price down 25% and still falling.

Glenveagh down 18% and falling.


Anybody who thinks prices aren't falling is in the aniexty/denial phase.

https://www.mymoneyblog.com/wordpress/wp-content/uploads/2017/12/cyclewhere.gif

That wacky UK billionaire will be delighted with his huge CAIRN short position.

Mic 1972

A couple of 1 bed apts for sale in Smithfield under the 200K mark came up in the last few days, maybe it's just coincidents
Normally they sell for over 200K

OwlsZat

SozBbz wrote: »

You're assuming all sellers are desperate to sell. If I were selling, I'd take my property off the market and relist it in the autumn.

That's fine if you can sit on your asset, many can't.

ebayissues

This is the correction we needed in the stock markets. All Major indices are down 20%. This correction will eventually affect property markets.

Taylor365

ebayissues wrote: »

This is the correction we needed in the stock markets. All Major indices are down 20%. This correction will eventually affect property markets.

Beyond correction. S&P is now at 2017 levels.

nerrad01

We probably haven't even seen the bottom yet! Crazy stuff

smurgen

Delighted I didn't buy.time to go shopping now.

ebayissues

smurgen wrote: »

Delighted I didn't buy.time to go shopping now.

House prices won't turn red over night...it'll take months.

Taylor365

ebayissues wrote: »

House prices won't turn red over night...it'll take months.

Yea, if house prices go back to 2017 levels, you'll save.... 10k?

JamesMason

Taylor365 wrote: »

Yea, if house prices go back to 2017 levels, you'll save.... 10k?

More like 1997 prices

Mic 1972

ebayissues wrote: »

House prices won't turn red over night...it'll take months.

we have all the time in the world
nobody is going anywhere for a while ;-)

Padre_Pio

Taylor365 wrote: »

Yea, if house prices go back to 2017 levels, you'll save.... 10k?

I don't know. The number of new cases and deaths in China, S Korea and Japan have really slowed over the past week.

We could be out the other side in two or three weeks, with a clearer picture of what the future holds. Makes more sense to frustrate or delay your sale or purchase for the time being, rather than cancel it completely.

People have been predicting a correction for years with Brexit, recession, migrant crisis etc. Don't make any rash moves.

Mad_maxx

the U.S will enter a recession soon if its not already in one , our economy wont stay out of one if they are going backwards

the S+P is the best gauge of the health of the irish economy and we all know where thats going at the moment

Computer Science Student

Mic 1972 wrote: »

A couple of 1 bed apts for sale in Smithfield under the 200K mark came up in the last few days, maybe it's just coincidents
Normally they sell for over 200K

That's pretty normal for a one bedroom apt.

Villa05

OttoPilot wrote:

Mark my words, if there is a slowdown, the rules will be relaxed to encourage demand.

Central Bank is is influenced by the Ecb. Rules will not be changing

OttoPilot wrote:

Yes, thank god we have fine gael to prevent profiteering off misery.

😄😄😄

Mic 1972 wrote:

LOL nice try it's very definitely not a good time to invest money in anything right now, at least wait until prices come down

I'm drawing up a list of shares to buy. Time to buy is very close. Irish property not on that list this time round

Claw Hammer wrote:

It would be unconstitutional to force landlords to subsidise tenants to that extent. The government can't do anything about that. The banks aren't guaranteed but they are secured.

Rents can be brought down by increasing supply
Taxing land hoarding, empty units
Build on state land to rent at affordable yet profitable rents
Rezoning land thereby increasing supply and forcing land hoarders to act

J_1980 wrote:

Maybe Dermot and MaryLou should go to Germany and teach Irish house building lessons??? How to make it cheaper. You guys are total jokers. At least the virus will end all this nonsense.

Biggest cost in housing is land and tax. State has sufficient land to solve supply demand imbalance. Given current rents and long term interest rates the state could make a significant profitable revenue stream from delivering affordable accommodation in large employment areas

Everyone is a winner. Not rocket science,

JamesMason

Villa05 wrote: »

Central Bank is is influenced by the Ecb. Rules will not be changing



😄😄😄




I'm drawing up a list of shares to buy. Time to buy is very close. Irish property not on that list this time round


Rents can be brought down by increasing supply
Taxing land hoarding, empty units
Build on state land to rent at affordable yet profitable rents
Rezoning land thereby increasing supply and forcing land hoarders to act



Biggest cost in housing is land and tax. State has sufficient land to solve supply demand imbalance. Given current rents and long term interest rates the state could make a significant profitable revenue stream from delivering affordable accommodation in large employment areas

Everyone is a winner. Not rocket science,

The only winners will be undertakers.

landofthetree

https://mobile.twitter.com/obraonain/status/1238402783889498113

People won't be able to pay high rents.

landofthetree

Claw Hammer wrote: »

Landlords will serve notice of rent arrears and proceed to notice of termination if not paid on time. There's nothing obliging a landlord to simply not attempt to recover the rent. Landlords are well aware that they are always at the mercy of economic conditions, however that doesn't mean that they have no protection.

https://mobile.twitter.com/irishexaminer/status/1238458554874380288

I can see the government banning evictions.



Too risky to have an increase in homless people.

fliball123

landofthetree wrote: »

https://mobile.twitter.com/irishexaminer/status/1238458554874380288

I can see the government banning evictions.



Too risky to have an increase in homless people.

Sorry but landlords are not going to let people rent for free, crisis or no crisis. Its not up to private landlords to sort out the homeless problem

Mic 1972

landofthetree wrote: »

https://mobile.twitter.com/obraonain/status/1238402783889498113

People won't be able to pay high rents.

Then rents will decrease, and investors will buy stocks and shares instead of property

PommieBast

landofthetree wrote: »

I can see the government banning evictions.

Wouldn't surprise me. Downside is that it will instantly make landlords an endangered species within Ireland.

Mic 1972

PommieBast wrote: »

Wouldn't surprise me. Downside is that it will instantly make landlords an endangered species within Ireland.

Thus, evictions won't be banned

Mic 1972

2 more 1beds up for sale in Smithfield, that's 4 new ads going up in a few days for 1beds.
LLs trying to capitalize before it's too late?

landofthetree

Mic 1972 wrote: »

2 more 1beds up for sale in Smithfield, that's 4 new ads going up in a few days for 1beds.
LLs trying to capitalize before it's too late?

The wise seller will try to find the last few "greater fools".


https://en.m.wikipedia.org/wiki/Greater_fool_theory

Claw Hammer

Mic 1972 wrote: »

2 more 1beds up for sale in Smithfield, that's 4 new ads going up in a few days for 1beds.
LLs trying to capitalize before it's too late?

It could be former air B&Bs coming on the market due to pressure from the City Council and cancellations of future bookings due to the virus.

Mic 1972

Claw Hammer wrote: »

It could be former air B&Bs coming on the market due to pressure from the City Council and cancellations of future bookings due to the virus.

One is livable but would be low standard for B&B

The other 3 are in shambles, probably not used in ages
Possibly left vacant waiting for the right time to flip them

Mic 1972

landofthetree wrote: »

The wise seller will try to find the last few "greater fools".

https://en.m.wikipedia.org/wiki/Greater_fool_theory

The thing is, only cash buyers can play the property market when banks stop lending