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

Not if the amount of properties being made available is staying up with the increase in population and that is where Ireland in particular is severely lacking and just to add to the argument we have had a number of recessions and in general property prices along with all of the commodities you mention globally have gone up there have been some bounces. So logically I am right

Looks like now is a great time to get a house before banks get nervous about lending again.. Euro hits 20-year low against dollar on recession risk (rte)

"Today's PMI data from Europe have highlighted the risk of slowing growth at the end of the second quarter and raise the prospect of a contraction in activity in the coming months," she added.

"Growing fears of a recession are hammering the euro lower, whilst the dollar is soaring on bets that the Fed will keep hiking rates aggressively to tame inflation," City Index analyst Fiona Cincotta said.

"Oil is still struggling to break out from its current recessionary malaise as the market pivots away from inflation to economic despair," Stephen Innes of SPI Asset Management said in a note. (Reuters)

Less than I would have thought but id guess they have alot of negotiating power with their subbies.

House prices are only worth what people will pay.

Unless peoples wages increase, house prices will not. If demand collapses, supply will collapse too. Volume of sales will collapse, but prices will stay around the same/slightly lower as cost of construction has gone well up, which impacts all new builds.

I don't think many posters read that article in full. Increased costs were fully offset by efficiencies elsewhere with margin now over 20%

one could suggest that "more choice" is a kin to either less demand or with the current increase in small landlords selling ... more supply in the market .... more supply with a recession on the cards has to have some impact on price ..

It has to start somewhere. The more savvy EA's will start by getting sellers to be "more realistic". I am noticing now some re-listings on myhome at reduced prices so they are not coming up in the price changes searches.

In the US it took a number of months from mtge rates to go up to a noticeable shift there. In many areas there inventory is up considerably YoY but it is only in the past couple of weeks widespread news of more realism by sellers is seeping out.

Around the same time period interest rates have been falling, multiple other factors also such as grants and shared equity, tax free investment funds et al, but I'm pretty sure the funders of such schemes will also be affected by rising rates

Not really though, the government/SHBs are still buying up full estates off the books and will keep doing so for the foreseeable future and they don't care about prices so that's one big source of demand.

All I see on the private new build market is new houses getting smaller and smaller to stay within what is affordable for people so 350k might have bought you a 4 bed semi a year ago now only buys you a 3 bed semi.

Your points on Ukraine are nonsense. Grabbed from somewhere with zero understanding of Ukraine, its war, and internal relations with russians.

In addition, its been shown numerous times, that contrary to major belief, one of the better hedges against inflation is cash.

Secondhand houses will stop that from happening though - why pay 350k for a 3bed when there are 2ndhand 4beds for that price. You get away with a certain price difference for the new nature of a house, but when it gets smaller and smaller eventually the demand drops off entirely.

That’s thanks to the inverted yield curve which normally is a sign of recession

That is an interesting take, one that I find hard to believe. Do you mean physical notes, or cash on deposit? If the price of goods and services are increasing, the value of both would appear to go down rather than up as both buy you less than they did when goods and services were less expensive. I could understand it if you said Gold was one of the better hedges as traditionally people invested cash in gold at times of economic instability. But cash? Hard to see how that stacks up unless you are talking about the grey economy where paying/being paid in cash avoids taxation.