Irish Property Market chat II - *read mod note post #1 before posting*

Wanderer78

Amadan Dubh wrote: »

"on mass", perhaps fitting for the government that worships the false idols of the market representatives rather than considering the best interests for the individuals whose interests they are elected to represent and prioritise.

Absolutely agree it will take time, but I think the big plan from the government to be announced in the coming weeks will have a more concrete outcome, even if it takes a couple of years to make a meaningful dent in prices and meaningful increases to the supply of homes.

i think ffg are done, whatever theyre gonna try wont be accepted by the public, the next ge is gonna be a blood bath for them

timmyntc

Wanderer78 wrote: »

...as others have stated, its asset price inflation we ve been truly experiencing, and for a very long time, the most obvious being in regards property, real world economies, in particular wage inflation has remained very low, stagnant in some cases, this is ultimately where the crisis is. if central banks make a move now, we ll start experiencing serious real world problems, whereby many simply wont be able to service their debts, and then we re off to the races....

once again, its actually private debts are the true dangerous debts to be wary of here, public debts generally arent as bad, as governments have the ability to roll over their debts as long as possible, until serviced in full, this generally cannot be done with private sector debts, when defaults occur here in large numbers, the financial system falls over.....

again, its important to remember what brought us here, it was in fact by running our economy hot on the private sector money supply, i.e. the credit supply, and this is where qe has taken over, it to is now doing the exact same thing, pushing asset prices up, including property, this to is gonna fail, we need to get money out into the real world economy, and fast. a ubi style system is now becoming more necessary than ideologically driven, i personally believe all citizens should be given a voucher type card, maybe a one for all, pre loaded with credit, with maybe a time limit to spend, in order to create whats called an increase in the velocity of the money supply, to generate economic activities, this would need to be funded by deficit borrowing, but our government are now gonna default to their normal approach, i.e. encourage us to rush to the banks, spend our deposits, and take on new loans. i cant see this truly working very well, sadly i think many businesses will eventually end up closed permanently, post covid, and theres no need for this, increasing pup payments has proved such an approach works.

public debts are just as dangerous - the difference is that with public debts the idea is you only ever pay the interest on the debt and never pay back the principle. But large public debts can cripple taxpayers and governments. One thing an interest rate hike will do, is significantly impact our ability to borrow but also means state interest payments will increase, further eating into the state budget.

Amadan Dubh

Wanderer78 wrote: »

...as others have stated, its asset price inflation we ve been truly experiencing, and for a very long time, the most obvious being in regards property, real world economies, in particular wage inflation has remained very low, stagnant in some cases, this is ultimately where the crisis is. if central banks make a move now, we ll start experiencing serious real world problems, whereby many simply wont be able to service their debts, and then we re off to the races....

once again, its actually private debts are the true dangerous debts to be wary of here, public debts generally arent as bad, as governments have the ability to roll over their debts as long as possible, until serviced in full, this generally cannot be done with private sector debts, when defaults occur here in large numbers, the financial system falls over.....

again, its important to remember what brought us here, it was in fact by running our economy hot on the private sector money supply, i.e. the credit supply, and this is where qe has taken over, it to is now doing the exact same thing, pushing asset prices up, including property, this to is gonna fail, we need to get money out into the real world economy, and fast. a ubi style system is now becoming more necessary than ideologically driven, i personally believe all citizens should be given a voucher type card, maybe a one for all, pre loaded with credit, with maybe a time limit to spend, in order to create whats called an increase in the velocity of the money supply, to generate economic activities, this would need to be funded by deficit borrowing, but our government are now gonna default to their normal approach, i.e. encourage us to rush to the banks, spend our deposits, and take on new loans. i cant see this truly working very well, sadly i think many businesses will eventually end up closed permanently, post covid, and theres no need for this, increasing pup payments has proved such an approach works.

I agree with your first paragraph but I suppose it's the direction of travel from here; quite clearly QE is not filtering into the real economy in a meaningful way and is getting hoovered into assets. Markets and house prices are uncoupled from the real economy. As such, I would agree that money needs to just be put into everyone's bank accounts, just redirect the next phase of QE to bank accounts instead of into bond buying. However, this won't happen so interest rate rises to at least try to siphon some of the QE out of assets would be something needed sooner rather than in the next two years.

Idbatterim

Wanderer78 wrote: »

i think ffg are done, whatever theyre gonna try wont be accepted by the public, the next ge is gonna be a blood bath for them

agreed and its about time... Its way too little to late at this stage. Construction costs and the amount they cream off from new builds is way too high... Planning system is a joke... Cost of materials and labour is mental...

They wont touch LPT or increase social housing rents etc, to provide more money to build more social and affordable etc. You cant solve the problem, when you are prepared to do as good as nothing...

Wanderer78

timmyntc wrote: »

public debts are just as dangerous - the difference is that with public debts the idea is you only ever pay the interest on the debt and never pay back the principle. But large public debts can cripple taxpayers and governments. One thing an interest rate hike will do, is significantly impact our ability to borrow but also means state interest payments will increase, further eating into the state budget.

this is false, history shows, private debts have in fact caused far more significant crashes than public debts, 08 was a perfect example of this, the only way to break this cycle is to push the debts out onto the public balance sheet, but our predominant government parties are deeply apposed to this, its strongly against their fundamental ideologies, hence our current situation, theyre already making moves to balance the books, selling boi shares etc etc, their approach will ultimately fail.

provided public debts are serviced and serviceable throughout their life, in an advanced economy such as ours, this is fine, theres plenty of evidence to support this globally, but again, our primary government parties are deeply apposed to this.

again, central banks are stuck, they currently cannot afford to take the chance of raising rates, as it could crash many economies, if even one euro country crashes, it could potentially bring down the whole zone with it, i.e. they cant move at the moment. and again, a rate rise would only apply to a proportion of debts, not all, and debts mature at different stages, not all mature at the same time

we have to move beyond this state of balanced budgets, its well researched now that this does not need to occur, in fact its actually dangerous to do so, as you then become over reliant on the private sector money supply, i.e. the credit supply, in order to expand and grow your economy, and we all know where that ends, i.e. 08!

JohnnyChimpo

Wanderer78 wrote: »

i think ffg are done, whatever theyre gonna try wont be accepted by the public, the next ge is gonna be a blood bath for them

Much as I'd love to believe it, the polling does not yet support that hypothesis. Ofc polling outside of campaign season is a load of speculative crap anyway, so fingers crossed

Idbatterim

Idbatterim wrote: »

agreed and its about time... Its way too little to late at this stage. Construction costs and the amount they cream off from new builds is way too high... Planning system is a joke... Cost of materials and labour is mental...

They wont touch LPT or increase social housing rents etc, to provide more money to build more social and affordable etc. You cant solve the problem, when you are prepared to do as good as nothing...

I think they are going to get another kicking, but if you for a moment believe that they will be replaced by a govt more economically right, eek

Wanderer78

JohnnyChimpo wrote: »

Much as I'd love to believe it, the polling does not yet support that hypothesis. Ofc polling outside of campaign season is a load of speculative crap anyway, so fingers crossed

i understand that, but you can feel it now, and polls have been very inaccurate of late, we re now in a situation whereby many parents, grandparents, uncles and aunts realise their loved ones are in serious trouble, so....

I've lost count of the amount of times FF/FG were apparently going to be "wiped out at the next election".

Wake me up when it happens.

Idbatterim

Deleted User wrote: »

I think they are going to get another kicking, but if you for a moment believe that they will be replaced by a govt more economically right, eek

oh I certainly don't, sure our most "right" are left wing in every sense of the word, except when it comes to rip off property and big business...

Ozark707

Deleted User wrote: »

I've lost count of the amount of times FF/FG were apparently going to be "wiped out at the next election".

Wake me up when it happens.

FG were almost in 2002. FF were almost in 2011.

Ozark707

Ozark707 wrote: »

FG were almost in 2002. FF were almost in 2011.

Man City almost won the champions league in 2021. Almost is nothing. FG and FF, the parties "almost" wiped out are now in power.

Time for a reality check.

Idbatterim

Deleted User wrote: »

Man City almost won the champions league in 2021. Almost is nothing. FG and FF, the parties "almost" wiped out are now in power.

Time for a reality check.

yeah, except this housing crisis is going to get a whole lot worse...

Idbatterim

Idbatterim wrote: »

yeah, except this housing crisis is going to get a whole lot worse...

I don't even know what that has to do with my original point. FG and FF won't get "wiped out". They might lose votes and seats, but they'll always be a force in the Dail. Any argument that suggests otherwise is total delusion.

Amadan Dubh

[Deleted User] wrote: »

I don't even know what that has to do with my original point. FG and FF won't get "wiped out". They might lose votes and seats, but they'll always be a force in the Dail. Any argument that suggests otherwise is total delusion.

You have to look at the polling for the different age groups. The longer house prices and rents do not decline, the more these trends point to sustained FFG decline. Maybe they won't get to zero seats but they'll get hammered in elections and some of those remaining in FFG will be pilfered by other parties as FFG shift their fundamental principles to appease the changing demographics.

July Dublin Bay South is probably not the earth shattering election it could be, but that's because FG would have no representative if they didn't keep the seat so there are votes still there for them to retain it.

Amadan Dubh

Amadan Dubh wrote: »

You have to look at the polling for the different age groups. The longer house prices and rents do not decline, the more these trends point to sustained FFG decline. Maybe they won't get to zero seats but they'll get hammered in elections and some of those remaining in FFG will be pilfered by other parties as FFG shift their fundamental principles to appease the changing demographics.

July Dublin Bay South is probably not the earth shattering election it could be, but that's because FG would have no representative if they didn't keep the seat so there are votes still there for them to retain it.

I repeat everything I have already said.

MacronvFrugals

Deleted User wrote: »

I repeat everything I have already said.

Per The Mail on Sunday/ Ireland Thinks latest poll, those type of numbers aren't easily pulled back especially if home ownership levels continue to drop

Today we publish a poll with Ireland Thinks that shows an overwhelming 45% of 18-34-year-olds support Sinn Féin compared to 17% for Fine Gael and six per cent for Fianna Fáil.

MacronvFrugals

MacronvFrugals wrote: »

Per The Mail on Sunday/ Ireland Thinks latest poll, those type of numbers aren't easily pulled back especially if home ownership levels continue to drop

Ok, we're getting off topic here, but I would point the enormous elephant in the room that says young people don't turn up to the ballot like older people do.

Like I said, reality check.

MacronvFrugals

Deleted User wrote: »

Ok, we're getting off topic here, but I would point the enormous elephant in the room that says young people don't turn up to the ballot like older people do.

https://www.rte.ie/news/election-2020/2020/0209/1114255-voter-turnout/

Like I said, reality check.

Head in the sand type stuff!

Jmc25

[Deleted User] wrote: »

I've lost count of the amount of times FF/FG were apparently going to be "wiped out at the next election".

Wake me up when it happens.

I think it has been and will continue to be more of a steady decline than a wipe out scenario. Totted up together their polling is very healthy - a significant chunk of the population are happy with things as they are.

Looking at their numbers in younger voters is more telling and a sign of things to come. These voters tend to bear the brunt of the negative impacts of their policy choices and I think that's why they're finally moving on issues like housing now.

But they're certainly not going to be "wiped out" in the next election by any means.

MacronvFrugals

MacronvFrugals wrote: »

Head in the sand type stuff!

From you

PropBuyer101

Deleted User wrote: »

Ok, we're getting off topic here, but I would point the enormous elephant in the room that says young people don't turn up to the ballot like older people do.

https://www.rte.ie/news/election-2020/2020/0209/1114255-voter-turnout/

Like I said, reality check.

um the amount of young people who voted in ireland at the last election and referendums is extraordinary. so no elephant. the young generation in ireland are very active in voting and activism etc.:)

PropBuyer101

PropBuyer101 wrote: »

um the amount of young people who voted in ireland at the last election and referendums is extraordinary. so no elephant. the young generation in ireland are very active in voting and activism etc.:)

The same sex marriage and abortion referenda don't compare to general elections. Also, where was this magical youth turnout for the other referenda?

Again, reality check guys.

Jmc25

Jmc25 wrote: »

I think it has been and will continue to be more of a steady decline than a wipe out scenario. Totted up together their polling is very healthy - a significant chunk of the population are happy with things as they are.

Looking at their numbers in younger voters is more telling and a sign of things to come. These voters tend to bear the brunt of the negative impacts of their policy choices and I think that's why they're finally moving on issues like housing now.

But they're certainly not going to be "wiped out" in the next election by any means.

I agree, though I would point out the obvious fact that as the youth become middle aged and move into higher tax brackets, their views tend to become more conservative. Funny, that.

So I wouldn't say the youth polling now will transition forward in a linear fashion.

DataDude

Deleted User wrote: »

I agree, though I would point out the obvious fact that as the youth become middle aged and move into higher tax brackets, their views tend to become more conservative. Funny, that.

So I wouldn't say the youth polling now will transition forward in a linear fashion.

You could make some nice cash off this if you're right. SF odds on to get most seats and Mary Lou massive favourite to be the next Taoiseach...

growleaves

Wanderer78 wrote: »

...as others have stated, its asset price inflation we ve been truly experiencing, and for a very long time, the most obvious being in regards property, real world economies, in particular wage inflation has remained very low, stagnant in some cases, this is ultimately where the crisis is. if central banks make a move now, we ll start experiencing serious real world problems, whereby many simply wont be able to service their debts, and then we re off to the races....

once again, its actually private debts are the true dangerous debts to be wary of here, public debts generally arent as bad, as governments have the ability to roll over their debts as long as possible, until serviced in full, this generally cannot be done with private sector debts, when defaults occur here in large numbers, the financial system falls over.....

again, its important to remember what brought us here, it was in fact by running our economy hot on the private sector money supply, i.e. the credit supply, and this is where qe has taken over, it to is now doing the exact same thing, pushing asset prices up, including property, this to is gonna fail, we need to get money out into the real world economy, and fast. a ubi style system is now becoming more necessary than ideologically driven, i personally believe all citizens should be given a voucher type card, maybe a one for all, pre loaded with credit, with maybe a time limit to spend, in order to create whats called an increase in the velocity of the money supply, to generate economic activities, this would need to be funded by deficit borrowing, but our government are now gonna default to their normal approach, i.e. encourage us to rush to the banks, spend our deposits, and take on new loans. i cant see this truly working very well, sadly i think many businesses will eventually end up closed permanently, post covid, and theres no need for this, increasing pup payments has proved such an approach works.

I agree with your analysis but have to question the conclusion you've arrived at.

How much UBI dosh do you really think is going to into productive economic activity as opposed to being handed over to rent-seekers?

I don't think UBI will increase money velocity in the productive sectors of the economy. It is just a super-dole for keeping people afloat (which may be a good thing on its own terms, a different discussion).

Business grants with minimal repayment would be better. Everyone has access to international markets now through e-commerce platforms. How many underemployed arts graduates could be artisan merchants instead of baristas or whatever?

Its going to require serious of thought and effort to create streams of government money that *don't* end up further inflating the asset markets.

Wanderer78

Deleted User wrote: »

I agree, though I would point out the obvious fact that as the youth become middle aged and move into higher tax brackets, their views tend to become more conservative. Funny, that.

So I wouldn't say the youth polling now will transition forward in a linear fashion.

...the only problem with this thinking is, as more and more younger people become unable to secure their accommodation needs, this starts to affect whats called 'social mobility', this in turn effectively prevents these folks from advancing to this level of behavior, this is whats currently occurring in ireland, largely due to our property issues. the more conservatives amongst us are not realising this, and are not also realising the anger thats building, ge's going forward will not be the same again, we re entering the age of disruption, and again, conservatives are not able to see this....

DataDude

DataDude wrote: »

You could make some nice cash off this if you're right. SF odds on to get most seats and Mary Lou massive favourite to be the next Taoiseach...

I'm not a gambling man. I once took a trip to Vegas and didn't gamble once.

I think SF will get the most seats too. Not sure if they'll have enough to form a government though.

Not sure why this is about SF. Yet again, for those who struggle with reading comprehension. I'm saying that FG and FF will not be "wiped out".

Thanks.

Wanderer78

growleaves wrote: »

I agree with your analysis but have to question the conclusion you've arrived at.

How much UBI dosh do you really think is going to into productive economic activity as opposed to being handed over to rent-seekers?

I don't think UBI will increase money velocity in the productive sectors of the economy. It is just a super-dole for keeping people afloat (which may be a good thing on its own terms, a different discussion).

Business grants with minimal repayment would be better. Everyone has access to international markets now through e-commerce platforms. How many underemployed arts graduates could be artisan merchants instead of baristas or whatever?

Its going to require serious of thought and effort to create streams of government money that *don't* end up further inflating the asset markets.

yea we re in serious trouble regarding rent seeking, this is why i think a voucher type system would be a better approach, it increases the likelihood of money going into the productive economy, but does not guarantee it, i fear giving people straight cash would be worse, who knows. if all citizens were given a one for all, and a time limit to spend, i think it would help, even though im sure they would also be bought and sold in a manner not intended. it is important to reember though, a large proportion of pup money went straight back into the productive economy though, even though im sure some of it went into deposits and servicing debt, i.e. not ideal for an economy.

i am also very concerned for the arts and entertainment industries, we need these industries, many are employed by them, i do think ubi programs already debating for such sectors should be tried, just to see, even though theres still nothing wrong with people also working as bariastas, we need those to

MacronvFrugals

Has anyone else been following the apartments for sale market in Dublin?

In the last week or two supply has ticked over 1000+ (according to Daft) for the first time since I've been following

PropBuyer101

MacronvFrugals wrote: »

Has anyone else been following the apartments for sale market in Dublin?

In the last week or two supply has ticked over 1000+ (according to Daft) for the first time since I've been following

people selling second properties maybe to get in on the action!!

PropBuyer101

Deleted User wrote: »

The same sex marriage and abortion referenda don't compare to general elections. Also, where was this magical youth turnout for the other referenda?

Again, reality check guys.

Nope. young people will vote on what affects them. and this next election will certainly affect them. and they really did vote last general election so have no idea where this comment comes from. and is off topic too.

Amadan Dubh

Indeed planning to sub-let some of its office space in Dublin, at Stephen's Green, in order to consolidate with its more extravagant Capital Dock setting. We will start to see a lot more ads for commercial office space being let/sub-let as post-covid WFH policies start to take hold over the coming weeks as the pandemic restrictions recede. It's worth noting that it renewed its lease at Stephen's Green pre-pandemic last year so I'd say they strongly regret that decision!

https://www.irishtimes.com/business/work/indeed-plans-to-sublet-part-of-one-of-its-two-offices-in-dublin-1.4602509

The company renewed its lease on the St Stephen’s Green building in 2020 to provide space for future long-term growth, the spokesman said. The firm plans to sub-lease some space in the short-term, though a high quality and well-located office environment will remain central to Indeed’s strategy, the spokesman added.

Some 4,539 square metres of space across three floors at the St Stephen’s Green building is available for sublet, according to a listing with CBRE. That would be enough space for nearly 500 workers. Potential tenants must commit to taking at least 1,500 square metres of what will be newly refurbished offices, with the price disclosed on application, according to the listing.

SmokyMo

Amadan Dubh wrote: »

Indeed planning to sub-let some of its office space in Dublin, at Stephen's Green, in order to consolidate with its more extravagant Capital Dock setting. We will start to see a lot more ads for commercial office space being let/sub-let as post-covid WFH policies start to take hold over the coming weeks as the pandemic restrictions recede. It's worth noting that it renewed its lease at Stephen's Green pre-pandemic last year so I'd say they strongly regret that decision!

https://www.irishtimes.com/business/work/indeed-plans-to-sublet-part-of-one-of-its-two-offices-in-dublin-1.4602509

I dont think we will. None of the big MNCs, or other companies have given up or put their premises for lease. I know a number of architecture firms who are flat out with office fit outs with projects all across Europe.

Jmc25

Wanderer78 wrote: »

...the only problem with this thinking is, as more and more younger people become unable to secure their accommodation needs, this starts to affect whats called 'social mobility', this in turn effectively prevents these folks from advancing to this level of behavior, this is whats currently occurring in ireland, largely due to our property issues. the more conservatives amongst us are not realising this, and are not also realising the anger thats building, ge's going forward will not be the same again, we re entering the age of disruption, and again, conservatives are not able to see this....

Exactly this. People in their early to mid 30s should be firmly in the establishment camp by this stage and they're clearly not. The age breakdown isn't great in the latest IT/MRBI poll, but Sinn Fein are on 40% in the 25-34 group. Bizarrely, the gap between SF and the rest is actually smaller in the 18-24 group - perhaps because they're not at home buying age yet.

Wanderer78

Jmc25 wrote: »

Exactly this. People in their early to mid 30s should be firmly in the establishment camp by this stage and they're clearly not. The age breakdown isn't great in the latest IT/MRBI poll, but Sinn Fein are on 40% in the 25-34 group. Bizarrely, the gap between SF and the rest is actually smaller in the 18-24 group - perhaps because they're not at home buying age yet.

our current stats on the matter, '54% of 18-34 year olds are living at home', thats not normal!

Amadan Dubh

SmokyMo wrote: »

I dont think we will. None of the big MNCs, or other companies have given up or put their premises for lease. I know a number of architecture firms who are flat out with office fit outs with projects all across Europe.

Well we already have AIB sub-letting its office space, to name a high profile company which was reported on in the news, but the post-covid WFH policies are going to start to be rolled out over the coming months (September for some reason seems to be the month people are throwing about but I don't know the significance for this month, more likely January 2022 for longer term WFH policies). We have a floor in a building in Dublin 2 that was getting close to capacity pre-covid so were looking for additional space on another floor but covid has enabled us to work with our existing space, even with additional headcount the past year. It's only 60 people to be fair but a traditional "you're not working unless you're in the office" kind of finance place. Even 2/3 days WFH is still 40% less office space needed; it's significant.

yagan

Wanderer78 wrote: »

our current stats on the matter, '54% of 18-34 year olds are living at home', thats not normal!

Historically intergenerational households are the norm. With the arrival of the car it was the baby boomer expansion of suburbs where land was dirt cheap that was the exception.

Amadan Dubh

Wanderer78 wrote: »

our current stats on the matter, '54% of 18-34 year olds are living at home', thats not normal!

It's also not healthy, as I'm sure people with experience of meeting friends/colleagues from other countries where it is not the norm can testify. Putting off having a family, getting your own place etc. all delayed due to living at home well into one's twenties, it's tragic.

Wanderer78

yagan wrote: »

Historically intergenerational households are the norm. With the arrival of the car it was the baby boomer expansion of suburbs where land was dirt cheap that was the exception.

depends how you define 'historical', for this period of human history, thats a very abnormal stat, and id imagine its still growing to, we re in trouble, as this now is effecting many layers of society. we have a whole pile of younger people, many well educated, effectively stuck, pension funds are also now becoming deeply exposed, as many funds are wrapped up in property markets, this is a problem which we all are truly 'in it together'!

growleaves

If we are experiencing a reversion to the mean of tenement life and multi-generation farmsteads then that should increase people's sense of political outrage not lessen it.

Since when have FF and FG claimed that they were merely riding a wave of material determinism? Lol

There hasn't been a drop in the standard of living of such magnitude since the late middle ages.

PropBuyer101

yagan wrote: »

Historically intergenerational households are the norm. With the arrival of the car it was the baby boomer expansion of suburbs where land was dirt cheap that was the exception.

so we are going back in time then.... we need to move forward!!!

yagan

growleaves wrote: »

If we are experiencing a reversion to the mean of tenement life and multi-generation farmsteads then that should increase people's sense of political outrage not lessen it.

Since when have FF and FG claimed that they were merely riding a wave of material determinism? Lol

There hasn't been a drop in the standard of living of such magnitude since the late middle ages.

The 1840s were bad here, and the Year of Slaughter of 1740-41 is thought to have been even worse!

cnocbui

yagan wrote: »

Historically intergenerational households are the norm. With the arrival of the car it was the baby boomer expansion of suburbs where land was dirt cheap that was the exception.

Historically, starvation and high infant mortality were rife and life expectancies were far lower than at present. Apealing to historical norms vs modern expectations is not really helpful.

yagan

cnocbui wrote: »

Historically, starvation and high infant mortality were rife and life expectancies were far lower than at present. Apealing to historical norms vs modern expectations is not really helpful.

When you factor in the old high infant mortality rate with today low replacement rate you can see a reconvergence of social interdependence.

Ozark707

Amadan Dubh wrote: »

Well we already have AIB sub-letting its office space, to name a high profile company which was reported on in the news, but the post-covid WFH policies are going to start to be rolled out over the coming months (September for some reason seems to be the month people are throwing about but I don't know the significance for this month, more likely January 2022 for longer term WFH policies). We have a floor in a building in Dublin 2 that was getting close to capacity pre-covid so were looking for additional space on another floor but covid has enabled us to work with our existing space, even with additional headcount the past year. It's only 60 people to be fair but a traditional "you're not working unless you're in the office" kind of finance place. Even 2/3 days WFH is still 40% less office space needed; it's significant.

Anyone have any idea the haircut that gets applied to a sublet of this nature?

hometruths

Wanderer78 wrote: »

our current stats on the matter, '54% of 18-34 year olds are living at home', thats not normal!

According to Davy's latest report on the housing market 53% of adults living with their parents are unemployed.

Which sounds like it's their employment prospects rather than the housing market that is causing this.

cnocbui

schmittel wrote: »

According to Davy's latest report on the housing market 53% of adults living with their parents are unemployed.

Which sounds like it's their employment prospects rather than the housing market that is causing this.

Only for half of them.

MacronvFrugals

Varadkar urges Central Bank to get mortgage lending rules review done 'as soon as possible'



TÁNAISTE LEO VARADKAR has called on the Central Bank to get its review of its mortgage lending rules “as soon as possible”.

Speaking in the Dáil this afternoon, he said the measures were put in place to promote financial stability after the crash and to prevent a future banking crisis.

The rules restrict the amount someone can borrow to 3.5 times their income, though there are exemptions.

Varadkar said he welcomed the review being carried out over this year and into next year, but urged the review to be expedited and completed as soon as possible.


https://www.thejournal.ie/central-bank-mortgage-lending-rules-varadkar-5476293-Jun2021/

wassie

SmokyMo wrote: »

I dont think we will. None of the big MNCs, or other companies have given up or put their premises for lease. I know a number of architecture firms who are flat out with office fit outs with projects all across Europe.

Media reports that 3M have confirmed their expansion plans into Dublin city centre by going ahead with their lease deal they agreed to in April last year for up to three floors (24,000 sq.ft) in a new office development in D2.

https://www.rte.ie/news/business/2021/0624/1231052-100-new-dublin-jobs-at-3m/

One story is not evidence of anything, but makes me think that WFH effect will be milder on the Dublin commercial sector than what some are predicting.