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

Yet again cherry picking with what you want out of articles. Why didn’t you post the next sentence?

Borrowers are being told that even though they can borrow a certain amount based on the income limits set by the Central Bank, the impact of cost-of-living increases on disposable income are trumping this.

Not all borrowers are affected, but the cost of living rises are proving problematic for many first-time buyers and switchers, particularly single people and single-earner families, Ms Hennessy said.

You also posted saying that the threat of war from Russia didn’t exist and was only being used by the west to justify inflation and speculators were doing it to make money from higher energy prices.

You have also claimed rent will collapse by up to 50% but have never been able to explain how this will happen or what conditions will change to cause it.

your post putting down Ireland and calling it a **** hole seem to have gotten worse since you emigrated and left the country. Are you trying to convince yourself you made the right decision? Because that’s what your posts have come across as and I have seen multiple times where people have emigrated only to get nostalgic and within 5 years and returning to Ireland.

If you have emigrated for good like you claim then why do you care so strongly about the Irish the Irish economy maybe you should redirect your energy to where you are living, planning to live in the future.

But there are opportunities, and the people who take them profit from them, those that don’t aren’t. If you have the skill set to take advantage of that opportunity, you are ahead, if you haven’t, then perhaps you should ask why not, and why you think it is someone else’s fault.

Who sold us an easy-to-get-rich scheme? I don’t ever remember anyone telling us we were all going to get rich. What casinos are you talking about? No one bought BTL properties “by accident”, people invested to make money, but as everyone knows, investments can go up or down, there was never a guarantee it would go up. Investors learned from the last boom/recession, that is one important why there has not been the same level of investment by developers and BLT landlords. The prudence of CB caps on mortgage lending has meant that we did not lose the run of ourselves by borrowing beyond our means, but the opportunities offered by all those high paying jobs means that even with the caps, a lot of people can still afford to buy houses. Low ECB rates helped keep mortgage repayments low, albeit at the higher rate than elsewhere in the EU due to higher risks associated with lend here/the inability of the lender to recover an asset when the debt is not being repaid. The trade off for low borrowing rates is low interest rates on savings, banks cannot lend at low rates, then pay high rates on savings, they would lose too much money and therefore be unable to lend.

That is not what I posted. Lots of people who don’t work for MNCs and don’t have well paid jobs don’t see themselves as having problems. But if there are opportunities out there and you don’t or can’t take them, what is the point of blaming others for that? Should a teacher benefit from MNC/Fintech level wages even though they do not possesses the skill set to work in either? There is no fault, just a realisation that not everyone should have whatever they want, just because they live here.

There is no doubt we will see a slowdown, whether we will go into a technical recession is another matter. Most news stories generally paint the worst case senarios. However a lot of these are easily seen to be hyped by the news providers, family in a tent, married couple moving back in with there respective families.

But the presumption that the whole economy will go down the toilet is a bit far fetched.

House prices may drop but as I predicted earlier in the year it will only be in the 10 ish% max region. However if the fall most people will get waiting for them to fall 20%+ which is unlikely to happen. If the fall much with 10% builders will slow building down or stop building completely. This will exacerbate the he problem.

You might think what he says is mush but there is a harsh reality in what he states. 90% of what happens in your life you or your parents decide for you. It decisions and actions taken by you and your parents make the decision on your career, education etc. After that decisions you make yourself de ide you life and lifestyle. Government action is only responsible for 10% of your life's outcome.

Who do you think you are Bazz Lurhmann, he did say trust him on the sunscreen.

As I said your justifying your move abroad..that’s a natural thing to do….whether you realise you are doing it or not.

Comparing Ireland to Vietnam is hilarious and really does highlight how you wish that the Irish economy collapses so you can say how right you were. What will it achieve for you….nothing. You have made your decision so move otherwise your like a stalker that is still obsessed with his ex…life’s to short

Didn't know that atall, learn something new everyday.

Ah the old begrudgers and whingers argument. I think we're a bit beyond that. We're living in a completely dysfunctional market and yes there are a minority doing well but basically telling people if you arent creaming it and cant afford to buy now its all your fault is nonsense. A lot of your posts in the last few pages have the whiff of Bertie about them. Well when the worst off in society get wiped out they'll move up the ladder. They'll get to you eventually. But according to you when they do sure it'll be your own fault anyway. Nothing to see here. Ireland is great.

I have 5 years left on my mortgage so Im not bidding against anyone, blaming anyone for my own situation or unhappy with my life decisions at the moment. I am worried if I'll make it to the end of my mortgage term. Hopefully I do but who knows.

The point here is the state of the country overall. The property market is a big factor here. Young people leaving in their droves and I dont blame them. Where do you think this is all leading? Nowhere good thats for sure. Its a result of weak government policy over decades not the pandemic, not the war and not peoples "life decisions" no matter how much you try and say it is. At what point do you say "hang on here this has gone too far"?. Is it when average house price is a million euro? When average rent is 5k? When our national debt is half a trillion?

Or will it still be everyone's life decisions that are to blame?

How can you possibly blame weak Government decisions when we have gone from the depths of recession to full employment, many with high paying jobs in the space of 10 yrs? Our population is at its highest since the famine and there has been little need to emigrate during that period, and still our employment figures hover around 4%, it beggars belief. I have no problem with people emigrating to improve their lot, I did it myself, my kids have done it.

As this is an anonymous forum, of course I don’t know your personal circumstances, if you have 5 yrs left on your mortgage you have benefited greatly from near 15 yrs of historically low interest rates, so the increases may balance that out a bit.

Will houses average at 1m, or rents go to €5k? Possibly if the market is there for it, but it is more likely to remain far below that as it is unlikely that wages will rise that much. But I am not an oracle, so anything is possible.