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

Hard to say what we’ll do but we probably wouldn’t let it out. Don’t think we’d get another mortgage. Though I haven’t really considered it until this moment.

Feels like there are no good options. We are seeing what we can scrape together and whether we could do a smaller job on the house. Problem is the location of the current house is perfect and our kids love it here so we’re very reluctant to move them.

Are the houses you’re looking at in the city? Just had a quick look on daft and I only see one development and it’s a good bit over €375k for a 4 bed.

heartbreaking

this is the level of dirt and disrespect one of our tenants left behind them. It took some negotiation and I’ll admit we returned the deposit to get them out rather than a protracted legal battle. They were getting rent at maybe 30% below market value. This carpet was 3 years old and spotless when they moved in.

don’t really want to be dealing with this crap any more.

The same line trotted out in defence of the last pension raid.

Very simple to fix though. Make it illegal for anyone to raid pension funds, especially the state.

Theres a reason they wont do that though isnt there, or they would have done it already.

The fact that your pension put is sitting there with an open lock for the government to dip into and take as much as it likes is a problem. Its easy to fix that problem, unless you need it not to be fixed.

Find a way. They can give me a call if they need a hand.

My American father-in-law gets the NYPost as one of his daily papers so I read it when I'm in NY - it's politically somewhere to the right of Der Stuermer, so when you see "radical left" you can read it as "people with <€10m property equity", hth.

I winced when I read the headline but if you read the article all the way to the end the politicians involved are Democrats who came up via the Democratic Socialists of America and who openly talk about nationalising NY's housing stock.

The article was reprinted from The Tablet which is a centre British Catholic journal.

Philip Lane and the other top brass at the ECB would have to admit they were wrong if they acted too quickly and given interest rate increases will almost certainly cause a Eurozone recession, this would be evidence that in fact they did not clean up the mess that lead to 08 and their whole careers have been based on false beliefs. They likely also have a personal vested interest in the current high asset price environment, given their age profiles. So they are staying stubborn out of human nature more than anything more solid than that, in my view.

current inflation issues have little or nothing to do with the price of money, it was ultimately brought on by the disruption of supply chains from the virus, and now the war, which in turn is disrupting energy markets, raising rates would/will simply increase the cost of living more, as servicing our debts becomes more expensive.....

There is no tax concessions on this scheme, its aimed a the lower paid paye workers. Govt contributing 1 for every 3 saved means greater saving for those on the standard rate of tax in a private pension. I believe its not open to self employed

Yeah you hear alot about a measly half a percent charge. Many of the providers charge considerably more than that for unmanaged funds.

Is there any chance the pension holders whinging would give back the gains from quantitive easing in return for the pension levy. You can bet your pension they won't

In other news, Electricity prices set to rise again.

This time electric ireland to raise prices by 23% from May. Wage inflation looks to be inevitable with these rises in the cost of living, and we all know where asset (property) prices go from there. No brakes on the property train!

The expected housing stock that should be for sale is less than halve at the moment. Obviously covid decreased supply. But this cannot perpetually continue. As we go forward housing stock will have to increase.

Thankfully the 3.5× income rules is containing prices somewhat. In other countries without lending rules the price inflation has been alot higher. I think increased supply and rising interest rates will bring the increase to the end next year. Could even start to unwind some of the gains of the last year.

The state contributing 1 euro for every 3 is instead of tax relief not in addition to tax relief according to ictu on Claire Byrne yesterday