2021 Irish Property Market chat - *mod warnings post 1*

Timing belt

SmokyMo wrote: »

Maybe that's why they call it a 'syndrome' because you convince yourself no, this time is different.

Economies are life on support from CBs with QEs.. this, can only continue for so long before it stops or their effect wears off. The longer it goes the deeper the dive. This could be decade long in the making so 1 year could be too small of a scale.

Economies are on life support since the 08 crash and one could argue that it has been longer as for the past 30 years rate cuts have been the oxygen that have been keeping economies alive. Will it crash... yes eventually but it may not be for another 10/20 years as Central Banks will keep propping up the economies.

hometruths

Timing belt wrote: »

Economies are on life support since the 08 crash and one could argue that it has been longer as for the past 30 years rate cuts have been the oxygen that have been keeping economies alive. Will it crash... yes eventually but it may not be for another 10/20 years as Central Banks will keep propping up the economies.

By the sounds of things your belief is the whole house of cards will carry on as long as CBS keep printing and keep rates low, which you think will be for at least the medium term? I.e 10 years +. Is that a fair comment?

To clarify I mean this is what you think is most likely to pan out? Not trying to be a smart Alec, genuinely interested to know what you genuinely think is most likely.

Timing belt

schmittel wrote: »

By the sounds of things your belief is the whole house of cards will carry on as long as CBS keep printing and keep rates low, which you think will be for at least the medium term? I.e 10 years +. Is that a fair comment?

To clarify I mean this is what you think is most likely to pan out? Not trying to be a smart Alec, genuinely interested to know what you genuinely think is most likely.

I don’t know what will happen.. CBS will be printing money for at least 30 years even if they do no new QE as tapering of existing QE will take a very long time without crashing the markets. I think they will use new printed money in a targeted fashion in the green economy.

There will be new crisis’s in the future and how these are dealt with is unknown but CBS will want fire power to deal with these so how they go about that is the big open question.

hometruths

Timing belt wrote: »

I don’t know what will happen.. CBS will be printing money for at least 30 years even if they do no new QE as tapering of existing QE will take a very long time without crashing the markets. I think they will use new printed money in a targeted fashion in the green economy.

There will be new crisis’s in the future and how these are dealt with is unknown but CBS will want fire power to deal with these so how they go about that is the big open question.

Whatever you say about Prop at least he is not shy about saying what he thinks is most likely to happen!

SmokyMo

Timing belt wrote: »

Economies are on life support since the 08 crash and one could argue that it has been longer as for the past 30 years rate cuts have been the oxygen that have been keeping economies alive. Will it crash... yes eventually but it may not be for another 10/20 years as Central Banks will keep propping up the economies.

Yes in theory it could.. But I think black swan or sequence of will put an end to that. 30 years is far too long.. lot of things will happen.

fliball123

PropQueries wrote: »

But would the taxpayer be on the hook this time? The only purpose for keeping property prices high in the short term appears to be so NAMA can come back and say they made a €4billion "profit" in the next year or two.

If prices fell e.g. 30%, that would only bring us back to maybe c. 2014/2015 prices?

If prices fell by e.g. 50% to 70%, there's only benefits for the wider economy IMO

And at the end of the day, the state is just going to take many of our houses for some version of the fair deal scheme at the end anyway IMO

Wow really so you reckon people who have bought over the last 5/6 years lost up to 70% so thrown into really bad negative equity and you think there is only benefit for the wider economy. For this to happen the economy will of had to have jumped off a cliff without a parachute.. How long do you think people will continue paying a mortgage on a house that has lost 70% do you think they will all just say feck it I will just keep paying when they know they can just stop paying and stay there and who picks up that tab? This has got to be one of the most blinkered statements you have made.

HansKroenke

Timing belt wrote: »

I don’t know what will happen.. CBS will be printing money for at least 30 years even if they do no new QE as tapering of existing QE will take a very long time without crashing the markets. I think they will use new printed money in a targeted fashion in the green economy.

There will be new crisis’s in the future and how these are dealt with is unknown but CBS will want fire power to deal with these so how they go about that is the big open question.

I think the political landscape will change before the bubble bursts and people will try to blame the new wave of politicians for popping it. FFG have less than 3 years to make a meaningful dent in the housing crisis or else there is another 4 years of additional votes for SF from the last election, which of course could be a significant change in Ireland to see a new party in power. The ramifications of that will of course be dramatic.

fliball123

decreds wrote: »

You clearly don't have much life experience if you can't fathom anywhere near close to a 10% drop in prices within a market which is already over priced and at the tail end of a decade long bubble.

By what measure is it overpriced?? Can you show any proof of a bubble??

Timing belt

SmokyMo wrote: »

Yes in theory it could.. But I think black swan or sequence of will put an end to that. 30 years is far too long.. lot of things will happen.

I agree that lots of things will/could happen before then as history has a way of repeating itself but predicting these is near on impossible. For the next year I see house prices in Ireland rising by 10% as I said back in January.... It won't be 10% across the board as some areas are already maxed out in my opinion such as DLR/Wicklow. Over the next 2-5 years is anyone's guess as it is highly likely that we will be in another crisis by then due to the increased risk taking by investors.

Villa05

JimmyVik wrote:

You have to apply to each individually to see if you get one of their exemptions.

I know but if your in a good position as stated you don't need an exemption

Point is being lost in the thread

Marius34 wrote:

This crisis is different. It passed 1 year since the start of crisis. So it really is.

A dead cat ressurection ðŸ˜

fliball123

Villa05 wrote: »

I know but if your in a good position as stated you don't need an exemption

Point is being lost in the thread


A dead cat ressurection ðŸ˜

You can only get a dead cat bounce if prices have dropped and they have not dropped in any meaningful way over the last 2 or 3 years and the definition of a bounce is they dont go higher than what they were before the bounce

Villa05

fliball123 wrote:

You can only get a dead cat bounce if prices have dropped and they have not dropped in any meaningful way over the last 2 or 3 years and the definition of a bounce is they dont go higher than what they were before the bounce

Post was in relation to the economy/stock market

fliball123

Villa05 wrote: »

Post was in relation to the economy/stock market

ahh ok cool

decreds

schmittel wrote: »

Whatever you say about Prop at least he is not shy about saying what he thinks is most likely to happen!

When i first read some of Props posts, the following quote from Warren Buffet came to mind:


"What the human being is best at doing is interpreting all new information so that their prior conclusions remain intact"



I find the people opposed to his opinions to his opinions (property bulls) do the exact same thing, it's quite clear none of us know what will happen but if i had to put money on it a lot more of Props predictions will come to fruition within the next 5 years.


I see he also got banned for a short period, wtf, talk about censorship lol.

decreds

HansKroenke wrote: »

I think the political landscape will change before the bubble bursts and people will try to blame the new wave of politicians for popping it. FFG have less than 3 years to make a meaningful dent in the housing crisis or else there is another 4 years of additional votes for SF from the last election, which of course could be a significant change in Ireland to see a new party in power. The ramifications of that will of course be dramatic.

Nail on the head, we may a desperate attempt to ramp up supply in 2023, by then it could be too late and if SF come to power this may be the catalyst to a crash. I hope i am wrong though.

hometruths

HansKroenke wrote: »

I think the political landscape will change before the bubble bursts and people will try to blame the new wave of politicians for popping it. FFG have less than 3 years to make a meaningful dent in the housing crisis or else there is another 4 years of additional votes for SF from the last election, which of course could be a significant change in Ireland to see a new party in power. The ramifications of that will of course be dramatic.

I think the threat of political change will burst the bubble.

Assuming Covid is well behind us, the next election will be won and lost on housing. If FF/FG keep up the current act re housing, they will only make things worse, meanwhile SF will only grow stronger.

There is significant supply waiting in the wings, and I suspect 18 months or so before likely election date - sometime in 2023 - this supply will start to come on stream as property owners weigh up the risk/rewards of being a landlord or holding investment property/second homes in an SF government. Downsizers will similiarly weigh up their options.

This could be a cascade of supply at exactly the same time when would be investor buyers may choose to play it cautiously pending outcome of election.

So the situation could change very quickly from tight supply to over supply.

L1011

decreds wrote: »

I see he also got banned for a short period, wtf, talk about censorship lol.

Discussing moderation on-thread is not acceptable. You appear to be new here, so this is a warning rather than the normal action for doing so

SmokyMo

jill_valentine wrote: »

I've seen this suggested a lot, but from my personal perspective, in practice the worker bee vs management WFHing dynamic is inverted to what you might expect. Management work lends itself far better to WFH and managers are far more likely to give themselves permission to WFH to start with. And, payscale considered, they're more likely to have comfortable/purpose use workspace.

I haven't seen my manager in the office since August. A friend of mine got a job as a contractor for a massive tech company last year - he's never met a single one of their supervisors/managers. Just other contractors.

There's no glamour or martyrdom in coming in, because it's associated with the simple gruntwork the WFH'ing staff need done while they're doing the conceptual big brain stuff from home. The office is essentially just the factory floor, for the most part.

I really don't think coming in is going to be something people do to show off - there's nobody important there to see them.

For business going with full hybrid model I suspect this will happen if you choose to work only from home compared to someone who goes to the office 80% of time.
https://www.marketcrumbs.com/post/salesforce-says-the-9-to-5-workday-is-dead

- For business critical and revenue enabling lines, management will be in the office because execs will be in the office.
- if I am in the office too, I ll be the one getting pulled into impromptu meetings, discussion, handing critical situation, interacting, brainstorming etc
- If you wfh permanent you ll be reduced to a contractor over time. Like your friend, you ll never even see your manager's face.
- This will cluster talent into groups who is critical to business v not. Remote worker wont be deemed essential.

- (hot take) Take it a step further, years down the line, it will be looked at as a promotion to be able to work in the office.

Wfh has been a thing in tech sector for ages, there is no novelty in that. Vast majority still chose to go in most of the week. I dont know the answer but is there a successful company that is fully remote?

MacronvFrugals

schmittel wrote: »

I think the threat of political change will burst the bubble.

Assuming Covid is well behind us, the next election will be won and lost on housing. If FF/FG keep up the current act re housing, they will only make things worse, meanwhile SF will only grow stronger.

There is significant supply waiting in the wings, and I suspect 18 months or so before likely election date - sometime in 2023 - this supply will start to come on stream as property owners weigh up the risk/rewards of being a landlord or holding investment property/second homes in an SF government. Downsizers will similiarly weigh up their options.

I get the impression if SF get anywhere near government and cant increase supply quickly they will have no problem 'kneecapping landlords' whether that be small time or institutional, i agree with you if the polls are going one way a large amount of supply will enter the market.

SmokyMo

MacronvFrugals wrote: »

I get the impression if SF get anywhere near government and cant increase supply quickly they will have no problem 'kneecapping landlords' whether that be small time or institutional, i agree with you if the polls are going one way a large amount of supply will enter the market.

As opposed to covering up mass burials of babies in back gardens... oh and selling the whole country to foreign investment in return for zero tax....

MacronvFrugals

SmokyMo wrote: »

As opposed to covering up mass burials of babies in back gardens... oh and selling the whole country to foreign investment in return for zero tax....

The thing people on here forget is that 'Kneecapping landlords' (metaphorically of course) will look very appealing to a great number of people come February 2025 if FF/FG dont start becoming serious about tackling housing issues.

Also you don't need to tell me those things, i know very well who presided over a Catholic theocracy in this country.

Hubertj

I do not understand a €5m price differential here.

https://www.myhome.ie/residential/brochure/grianblah-26-palmerston-park-rathmines-dublin-6/4460604

https://www.myhome.ie/residential/brochure/ananda-st-georges-avenue-killiney-co-dublin/4483719

Cyrus

Hubertj wrote: »

I do not understand a €5m price differential here.

https://www.myhome.ie/residential/brochure/grianblah-26-palmerston-park-rathmines-dublin-6/4460604

https://www.myhome.ie/residential/brochure/ananda-st-georges-avenue-killiney-co-dublin/4483719

I was looking at the Killiney one today in the paper , it’s never a 10m house , sea views but too far from the sea and up a very narrow road.

I’d have thought 5 was more like it .

That said I don’t think the Rathmines house makes 5m either .

Both were built by the owners I’m sure at great expense so there will be an element of that in the optimistic pricing .

hometruths

Hubertj wrote: »

I do not understand a €5m price differential here.

https://www.myhome.ie/residential/brochure/grianblah-26-palmerston-park-rathmines-dublin-6/4460604

https://www.myhome.ie/residential/brochure/ananda-st-georges-avenue-killiney-co-dublin/4483719

I saw the Killiney one in the paper and surprised myself by thinking it is pretty awesome - definitely not normally something I'd like, but if you're going to go all out and build a Bond villain type of lair I reckoned the owner had made pretty good go of it!

The Rathmines one is bit pastiche I think. No doubt very expensively built, finest finishes etc, but it does not really have a wow factor. It's definitely not unique in the way the Killiney one is. IMO.

Re pricing I'd say the Killiney one is asking 10m on the strength of the fact Conor McGregor is looking at 10m houses in the area. Presumably that would be right up his street!

Ninap

schmittel wrote: »

I saw the Killiney one in the paper and surprised myself by thinking it is pretty awesome - definitely not normally something I'd like, but if you're going to go all out and build a Bond villain type of lair I reckoned the owner had made pretty good go of it!

The Rathmines one is bit pastiche I think. No doubt very expensively built, finest finishes etc, but it does not really have a wow factor. It's definitely not unique in the way the Killiney one is. IMO.

Re pricing I'd say the Killiney one is asking 10m on the strength of the fact Conor McGregor is looking at 10m houses in the area. Presumably that would be right up his street!

I agree. The Rathmines one is a fairly ugly pastiche, with poor sized rooms, no views and very average finishes. It's also half the size of the Killiney one. Which is, whatever one thinks of the design, spectacular. It also looks very well built

awec

schmittel wrote: »

I saw the Killiney one in the paper and surprised myself by thinking it is pretty awesome - definitely not normally something I'd like, but if you're going to go all out and build a Bond villain type of lair I reckoned the owner had made pretty good go of it!

The Rathmines one is bit pastiche I think. No doubt very expensively built, finest finishes etc, but it does not really have a wow factor. It's definitely not unique in the way the Killiney one is. IMO.

Re pricing I'd say the Killiney one is asking 10m on the strength of the fact Conor McGregor is looking at 10m houses in the area. Presumably that would be right up his street!

I agree. The Rathmines one is just another of many very large houses in Dublin with decent land around them, with very little imagination gone into it's design.

If I had 10 million to buy a house I'd buy that Killiney one tomorrow.

Hubertj

schmittel wrote: »

I saw the Killiney one in the paper and surprised myself by thinking it is pretty awesome - definitely not normally something I'd like, but if you're going to go all out and build a Bond villain type of lair I reckoned the owner had made pretty good go of it!

The Rathmines one is bit pastiche I think. No doubt very expensively built, finest finishes etc, but it does not really have a wow factor. It's definitely not unique in the way the Killiney one is. IMO.

Re pricing I'd say the Killiney one is asking 10m on the strength of the fact Conor McGregor is looking at 10m houses in the area. Presumably that would be right up his street!

I do agree the killings house is a lot nicer, more modern etc but €5m difference is hard for me to compute..... imagine havin mcgregor has your neighbour..... oh dear

hometruths

awec wrote: »

I agree. The Rathmines one is just another of many very large houses in Dublin with decent land around them, with very little imagination gone into it's design.

If I had 10 million to buy a house I'd buy that Killiney one tomorrow.

Yep, I think I would too. Pricing might be optimistic/opportunistic but it is totally unique. It's not like you could pass on this confident that something similiar/better would come on the market.

awec

schmittel wrote: »

Yep, I think I would too. Pricing might be optimistic/opportunistic but it is totally unique. It's not like you could pass on this confident that something similiar/better would come on the market.

Yea exactly, not too many of those sort of gaffs in Ireland.

Waking up every morning to that view, tonnes of light and windows everywhere yet totally private. The terrace right outside the kitchen etc.

Whoever built it has taste. I think it'll sell easily. Some lucky bastard will snap it up.

Cyrus

If this hasn’t sold in a couple of years at under 9 I can’t see that getting 10, it’s too far up the hill and away from the sea to be prime Killiney / Dalkey imo

https://www.daft.ie/for-sale/detached-house-summerhill-marino-avenue-west-killiney-co-dublin/184890

But maybe I’ll be proven wrong, you’d hardly get a Range Rover up glenalua road

Cyrus

schmittel wrote: »

I saw the Killiney one in the paper and surprised myself by thinking it is pretty awesome - definitely not normally something I'd like, but if you're going to go all out and build a Bond villain type of lair I reckoned the owner had made pretty good go of it!

The Rathmines one is bit pastiche I think. No doubt very expensively built, finest finishes etc, but it does not really have a wow factor. It's definitely not unique in the way the Killiney one is. IMO.

Re pricing I'd say the Killiney one is asking 10m on the strength of the fact Conor McGregor is looking at 10m houses in the area. Presumably that would be right up his street!

Is McGregor still looking? Thought that rumour died a year ago but maybe it’s back again. Some of The kinahans were supposed to be moving in to a new estate a few years back too a rival developer lost the run of himself making up stories apparently .

hometruths

Cyrus wrote: »

Is McGregor still looking? Thought that rumour died a year ago but maybe it’s back again. Some of The kinahans were supposed to be moving in to a new estate a few years back too a rival developer lost the run of himself making up stories apparently .

I know for certain McGregor was more than a rumour. No idea if he is still looking though.

Cyrus

schmittel wrote: »

I know for certain McGregor was more than a rumour. No idea if he is still looking though.

Yeah he was out around at some stage and out on jet skis etc think that was 18 months back though.

He is in the k club I think.

woejus

Cyrus wrote: »

If this hasn’t sold in a couple of years at under 9 I can’t see that getting 10.

But maybe I’ll be proven wrong, you’d hardly get a Range Rover up glenalua road

Marino Avenue was being hawked across all the EAs international affiliates, was in the FT weekend property pages for years, it was an acquired taste, old-school decor etc

Before thepropertypin went full retard there was a great write up by Observer35 (iirc) on the high end gaffs in the area.

A few years back I was there when BMW did a launch for a 7 or 8 series up there... it's a big series of boxes and not really a €10m kind of place for reasons you mentioned; narrow road (George's Ave/Glenalua), it's not private in that Kenah Hill is on the same plot. For that kind of cash, I don't want to see any neighbours!

That and the frankly poxy fencing job between the plot and the knacker drinkers paradise that is Mullins Hill. If anything they should have fixed that at the very least!

thefridge2006

jill_valentine wrote: »

Indeed. For the record I'm aware of an actual estate agent office where the whole staff were on wage supports, which did become a concern to staffmembers' own mortgage applications. It's not all baristas.

I do too actually

Galwayhurl

MacronvFrugals wrote: »

I get the impression if SF get anywhere near government and cant increase supply quickly they will have no problem 'kneecapping landlords' whether that be small time or institutional, i agree with you if the polls are going one way a large amount of supply will enter the market.

Financially kneecapping institutional landlords is precisely what we need. The amount of vacant properties they hold is criminal. All in the name of being able to state to their investors that the average market rent is much higher than it would be if they rented the vacant lots out.

There needs to be a flat rate of 30% tax on rental income country wide. Whether you're a PAYE worker or a REIT. 50% on a PAYE landlord while a REIT pays 5% or 10% is just unfair and bad for the market.

I'm not even a property owner and I recognise this. I'm saving for my first home.

PropQueries

Galwayhurl wrote: »

Financially kneecapping institutional landlords is precisely what we need. The amount of vacant properties they hold is criminal. All in the name of being able to state to their investors that the average market rent is much higher than it would be if they rented the vacant lots out.

There needs to be a flat rate of 30% tax on rental income country wide. Whether you're a PAYE worker or a REIT. 50% on a PAYE landlord while a REIT pays 5% or 10% is just unfair and bad for the market.

I'm not even a property owner and I recognise this. I'm saving for my first home.

Don’t fall for it. Small Landlords pay the exact same tax on their income as you do. If you pay 20%, so does the landlord if that’s all the income they receive.

They also get heavily subsidised by the state through HAP etc. Many of the government initiatives over the past ten years, from CGT tax reliefs to HAP have been introduced to benefit small Irish landlords.

The only reason they’re upset now is that they’re forced to register their rental property and must now pay income tax like most of the rest of us.

cnocbui

Hubertj wrote: »

I do not understand a €5m price differential here.

https://www.myhome.ie/residential/brochure/grianblah-26-palmerston-park-rathmines-dublin-6/4460604

https://www.myhome.ie/residential/brochure/ananda-st-georges-avenue-killiney-co-dublin/4483719

I don't see the value, period.

https://www.sothebysrealty.com/eng/sales/detail/180-l-496-2fkzsn/7-hidden-island-road-queenstown-ot-9371

awec

PropQueries wrote: »

Don’t fall for it. Landlords pay the exact same tax on their income as you do. If you pay 20%, so does the landlord if that’s all the income they receive.

They also get subsidised by the state by HAP etc. Many of the government initiatives over the past ten years, from CGT tax reliefs to HAP have been introduced to benefit small Irish landlords.

The only reason they’re upset now is that they’re forced to register their rental property and must now pay income tax like most of the rest of us.

REITs are tax exempt for both corpo tax and CGT as far as I remember.

PropQueries

awec wrote: »

REITs are tax exempt for both corpo tax and CGT as far as I remember.

I was referring to his post where he believed small landlords were getting a bad deal. But I’ll go back and change the original post from “landlord” to “small landlord” for you to avoid further ambiguities

awec

PropQueries wrote: »

I was referring to his post where he believed small landlords were getting a bad deal. But I’ll go back and change the original post from “landlord” to “small landlord” for you to avoid further ambiguities

Sorry, I misinterpreted.

I actually agree with you on this.

When it comes to paying tax on income for landlords, I have no sympathy for any suggestion they're over-burdened.

Galwayhurl

PropQueries wrote: »

Don’t fall for it. Small Landlords pay the exact same tax on their income as you do. If you pay 20%, so does the landlord if that’s all the income they receive.

They also get heavily subsidised by the state through HAP etc. Many of the government initiatives over the past ten years, from CGT tax reliefs to HAP have been introduced to benefit small Irish landlords.

The only reason they’re upset now is that they’re forced to register their rental property and must now pay income tax like most of the rest of us.

I thought that if a small landlord is paying PAYE tax at the higher rate that the rental income they receive is at the higher rate of tax as well, no?

E.G. if a Garda/teacher/nurse owns a second property that they let out, and they are in the higher tax band, they pay 40% tax plus USC on their rental income?

Anyway, my point is that landlords, be they small or institutional, should pay the same tax on all rental income.

cnocbui

awec wrote: »

Sorry, I misinterpreted.

I actually agree with you on this.

When it comes to paying tax on income for landlords, I have no sympathy for any suggestion they're over-burdened.

Are the REITS paying much tax?

Villa05

Some podcasts that may interest many here

Affordable Housing Bill Debate

Claire Byrne


How to fix the housing Market

David McWilliams
podcast following on from article discussed earlier







The Finacialization of the global economy

David McWilliams



Helps to understand whats happening with investment funds

Cyrus

Galwayhurl wrote: »

I thought that if a small landlord is paying PAYE tax at the higher rate that the rental income they receive is at the higher rate of tax as well, no?

E.G. if a Garda/teacher/nurse owns a second property that they let out, and they are in the higher tax band, they pay 40% tax plus USC on their rental income?

Anyway, my point is that landlords, be they small or institutional, should pay the same tax on all rental income.

Yes that’s correct but it would be the same if they got a bonus at work.

PropQueries

Timing belt wrote: »

If you throw enough sh1tt some of it will always stick lol

I only have one theory and that's that the property demand/supply mismatch is not real.

The rest of my apparent "mud-slinging" etc. is to show how the state uses various methods to keep this pretence up. Eventually, primarily due to a lack of future resources, I believe the state will lose that game IMO

Hubertj

Villa05 wrote: »

Some podcasts that may interest many here

Affordable Housing Bill Debate

Claire Byrne


How to fix the housing Market

David McWilliams
podcast following on from article discussed earlier







The Finacialization of the global economy

David McWilliams



Helps to understand whats happening with investment funds

You referred to spoofer in the singular in an earlier post regarding the affordable housing bill debate. I presume that was a typo.

Listened to David McWilliams and some interesting perspectives in it alright. Good for people to listen to.

Cyrus

woejus wrote: »

Marino Avenue was being hawked across all the EAs international affiliates, was in the FT weekend property pages for years, it was an acquired taste, old-school decor etc

Before thepropertypin went full retard there was a great write up by Observer35 (iirc) on the high end gaffs in the area.

A few years back I was there when BMW did a launch for a 7 or 8 series up there... it's a big series of boxes and not really a €10m kind of place for reasons you mentioned; narrow road (George's Ave/Glenalua), it's not private in that Kenah Hill is on the same plot. For that kind of cash, I don't want to see any neighbours!

That and the frankly poxy fencing job between the plot and the knacker drinkers paradise that is Mullins Hill. If anything they should have fixed that at the very least!

yeah and thats kind of my point, i get that marino avenue will need to be revamped and depinked most likely but its an 1800s Victorian Italianate mansion on 5 acres with some of the best sea views in dublin, if they cant flog that at 10% less (and im sure there is a deal to be done :pac:) then there is no way the other place is 10m, its off by a good 2-3m at the very least.

anyway its nice to discuss actual properties for a change

and i agree with you, there used to be some wonderful posters on the pin before it went mental

one of the posters had a site, dublins great estates or something like that, it was very informative on these super high end gaffs.

Billythekid19

McWilliams made a great point in that podcast. Along with covid, part of the reason people aren't selling their houses in 2021 is because prices are rising. Why sell my 500k house now when I can sell it for 525k in 12 months if the rising market continues.
It says more about our greed than anything else really. We see houses as investments as opposed to other countries who treat them as basic necessities.

MacronvFrugals

Some interesting points raised regarding retail and tourism going forward in today's IT -


Zombie businesses lurk beneath State supports for economy

Amazon is currently setting up camp just off the N7 in Dublin and when its same or next-day delivery services begin in Ireland, it is likely to lay waste to parts of the domestic retail sector. That part of the economy was already in enough trouble as it was. We’ve all become used to shopping at home in our boxer shorts at our laptops. That is a structural change in consumer behaviour and its effects will become fully apparent only after the pandemic recedes.

But it could be several years before foreign tourists return, and as they do, the staycationers that are currently the sector’s only nourishment will be forming orderly queues at the exit gates of Irish airports. Which of the tourism businesses among the totality that are currently on State life support will survive all the tumult to come? We’ll never know until they go. And that’s before we figure out what will happen to the corporate meetings market after the pandemic.

https://www.irishtimes.com/business/economy/zombie-businesses-lurk-beneath-state-supports-for-economy-1.4482353?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Feconomy%2Fzombie-businesses-lurk-beneath-state-supports-for-economy-1.4482353