Softening house market?

Nearly dropped dead when I saw the article last night. These people are categorically liars are charlatans. 'Builders' had a say in this???. Our democracy is broken. This is the straw that puts Sinn Fein in power. At least for me I'm willing to put them in power now. Anything to get rid of these current shower of collaborators.

Just as concerns about the market being overvalued start to come out here are these guys tripping over themselves to increase prices. Well screw the lot of them. I will buy second hand only and be driven way out the country. Couldn't be partaking in this 'new build' ponzi scam where you don't even get a bloody fire place to heat yourself when the blackouts finally hit us

Edit: At this stage this country requires a mass protest of people refusing to buy new builds until all these charlatans are bankrupt or the govt steps in to build/sell houses at cost.

The central bank of Ireland is to ease mortgage rules?

The ECB has started the most extreme monetary tightening in its history and the central bank of Ireland is loosening. Am I getting something wrong here? Is this not similar to the UK problem that their government was increasing money and bank tightening.....

Loosening money increases inflation. Inflation is our biggest threat right now. This is just bonkers.

Yes and Irish times Q&A says expected immediately. - hard to know.

“When will the new rules come into play?

We’ll have to wait for the formal announcement but the presumption is that the rules will come into force immediately on any new loan applications and on those that are already before lenders awaiting a decision. It is not clear if house-hunters who already have mortgage approval but have not yet found their home or drawn down the mortgage will be able to increase the amount available to them without going through the whole process again.”

Sinn Fein will change little. One need only read their policies to see that it is more of the same with different wording.

When a government is replaced, the apparatus of the state does not change with it. The senior civil servants who "advise" the politicians remain in place, as do the lower civil servants and heads of NGOs. If SF were in power tomorrow, the same interests that have created this mess would still be there. Until that is not so, we will see no meaningful change for the better.

I'm with you on the lack of a fireplace, however...

Comes into effect from 1st Jan 2023

Limit for ftb increased to 4

Limit for non ftb still 3.5 but deposit limit at 10% instead of 20%

https://www.centralbank.ie/financial-system/financial-stability/macro-prudential-policy/mortgage-measures/mortgage-measures-framework-review-public-engagement

Living in England brings other issues you would not have here but how did the Irish get to this place where having even a small house in a working class area has become such a hard thing to achieve

Everyone who puts in the effort to works a 9 to 5 for 10 to 20 years should be bale to afford a small modest house , Its bizarre that stage we have got to the stage that it'll be become only accessible for a small % of our young people

People are making ridiculous comparisons between our capital city and rundown parts of the north of England. See how you get on comparing house prices in London with Offaly, it's equally as valid.

Housing affordability is no worse in Ireland than the UK when you compare like for like in terms of the area, standards of living and salaries.

I understand what your saying but living in a suburb of a city like Liverpool or Manchester or so has no comparison to living in Offaly ,

Also i was talking about an area that is far from run down ,

Sure look at North Dublin if your not living along the coast the chances are your living in a rough enough area ( a few acceptation's) & prices are mental ,

I do understand there are other issues in England that we don't have but the value's of homes in Dublin is insane ,

Interest rates are going up and not going back down anytime soon. There is a substantial increase in inflation and cost of living. These factors will have far more dampening impact than being able to borrow a bit more.

There is alot of people with an agenda talking about property without much knowledge.

with the Eurozone inflation at 9.9% what do we expect the ECB to go with at the next meeting?

yup, this is beyond disturbing, but not surprising at all, especially when neoclassical economists are involved, they just have an outright refusal to accept the true functions of money, debt and banks in our markets, especially our property markets, this will be detrimental to our property markets!