Govt to do 'everything' to prevent evictions - McEntee

And what is your issue with people buying their own homes?

Perhaps we should prevent people from buying homes and insist they rent them instead from landlords?

Regardless, you have no source for your claim in any case

Nope. The incompetent ones are getting flushed out, along with smart ones who want to cash out at the top

New apartments a good bit out of city near Luas in Loughlinstown, I just heard that the 3 beds are gone for 3,500 a month, snapped up immediately by various companies paying first 6 months for their employees. 2 beds are 3k a month. Hail to the REIT!

I don’t foresee a major house price crash like that in 2008 and there’s definitely not going to be a surplus amount of properties all over the country like then either. The population is increasing at a fast rate and property for them to live in isn’t keeping with that pace.

Interest rates rising, nowhere even close to long term average yet, is not necessarily going to cause a price drop.

The central bank has enforced rigorous stress testing to cover that scenario. Lessons were learned from the last crisis and in recent times we have seen house price increases stall for a year pre-covid only to start to rise again with limited supply during Covid. This is where the ESRI are estimating a 7% over valuation. All else equal inflation on its own will tend to put prices up, the associated interest rate hikes have the opposite effect. The difference between inflation and interest rates is important and at the moment that is still high, and where that spread narrows it is likely to be for a short period. Public sector salaries are going up over the next 2 years counteracting interest rate rises impact on affordability.

You could just see liquidity dry up until inflation is tamed, sellers hanging on and buyers waiting as they can't agree on price. This happened to the housing market in the UK around Brexit. Buyers didn't want to buy without a discount because they feared the outcome of Brexit would impact prices, sellers didn't want to sell at a discount because they feared it would prove to be the wrong decision if Brexit fears were overblown. Market liquidity dried up, no-one had to sell they could just wait. I wouldn't focus too much on the prices of one or two units being representative in any market.

The fact we have a housing crisis will obviously tend to pull prices up as demand way outstrips supply and supply is likely to drop with the cost of building inflating, so I doubt we will be down to having only LAs in the market any time soon.

My prediction is that we are going to see this landlord sell off continue, and we might finally get the famed 'soft landing' resulting in a drop of around 10%, due to lessons learned in the last crisis.

Consensus opinion on Covid at the time was that it would lead to a 12% drop in house prices, but the limited supply effect kicked in and we could have similar again this time except through inflation.

But to quote Niels Bohr

-- it is difficult to predict, especially the future

House prices are still higher than what they would have paid for them. Even with rising interest rates, house prices aren't going to drop either due to lack of new builds and high demand.

And the state buying up units will decrease supply meaning more demand for anyone selling.