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

When the tide goes out, debt per capita is what counts. I've said this enough. We're worst in Europe and third worst in the world.

If you don't believe that postulate, fine. The ntma has stopped showing the graph of gross debt over time as it's appalling. Maybe we'll be fine maybe we won't but a prudent manoeuvre IMHO would be to do something while we can and the EU might want to kick us out while we restructure.

Debt to GDP is a snapshot of the present not a guide to how we'll survive in the future.

When the big tech companies are more muted with their activities here and this is reflected in updated Exchequer figures, we will be up the creek without a paddle for sure as that debt:GDP con will show us as the emporer with no clothes.

Don't believe that debt:GDP somehow makes Ireland sustainable when, to quote the ESRI even back in 2019;

"The ESRI has warned that any reduction in windfall levels of corporation tax will have a significant impact on the public finances, which could require the Government to implement austerity policies.

Because of this danger, it advises that the windfall portion of the corporation tax take should be set aside to counter any shocks to the economy in the future."

To think it won't be that bad, here is another quote on that 2019 report;

"On the property market, the ESRI believes parts of the market in Dublin have reached the limits of affordability.

This has resulted in prices either stagnating or falling.

It also noted that compared to house prices across the EU, prices here are relatively high and said the focus must be on increasing supply. "

Ireland is walking eyes wide open into the fire.

“We contend that the footprint of the entire site is within an area that should be retained as green infrastructure for nature and community amenity area.” 

It seems they just want to pay off the stadium debt but locals worried about sprawl and environment. Sounds like classic nimbyism...

Absolutely correct.

Debt per capita is the real here and now figure.

Facebook might be an outlier in the MAGA hyper tech stocks as it is not diversified and perhaps, like Twitter, has been cooking the books. "Too big to fail" perhaps is why it has not yet capitulated as we know that a lot of investors buying stocks for their income and on behalf of pension holders depend on these high growth stocks continuing to perform. Pensions would be wiped out if there was true price discovery in the likes of Facebook. Those speculating a whole ago you mention are part of a growing sect that feels Facebook is the emporer with no clothes.

Shite for Ireland inc. but good for those wanting the housing market to tumble, should we see Facebook unwind it's operations here. One to watch for sure when linking the property market to the broader economic activity.