Softening house market?

In theory yes but in practice I don't think so I think that's a very grey area indeed. Central bankers around the world do not make independent decisions, look at the fed for example, when Donald Trump put immense political pressure on them back in 2019 to stop lifting rates coupled with a repo market blow out and they reversed course and starting lowering again.

Central banks main objective is price stability and controlling inflation, That New Zealand arsehole said yesterday that this would cause a "modest" increase in house prices. Well I thought their whole job was price stability and lowering inflation not throwing petrol on it. This shows that if the acted independently and actually done their job then this would have been the last thing they would have done.

And you think that matters, all that matters is how it impacts Germany and France if it is good for those 2 economies everyone else will have to suck it up

Based on? I want this to be true but all the experts I’m hearing discussing these new rules are saying it will increase the cost of houses however small it may be .

first time buyers have more funds so you’d expect prices to increase a bit

It is mostly relative - but your gap may have grown.

If your current property is 300k and your target property is 500k. Gap = 200k.

House prices rise 10%.

Current property now 330k, target property is 550k. Gap = 220k.

I do not think I am the only one.

I am not trying to rile people but there is a lot of flapping about by certain posters

I have no interest in prices going up or down. I do not really care. However I am a realist. Contrary to opinion I could not see house prices fall and if they fell substantially builders would stop building.

The only solution to house prices is supply. Whether that is in the form of new builds or refurbishment of older semi derelict properties

Many on here think that site prices only are the cause of Dublin house prices. It's not labour is a huge issue. 50-70% of that labour travels in and out of Dublin every day. It's similar in other cities. However in Dublin they travel longer and further. Some even stay up there for the week. I expect that the average construction worker in Dublin is costing 500+/week more than other cities in Ireland. They in turn are 2-500/week more expensive than smaller urban area's. Not all this is in physical labour costs. Traveling and time traveling is a huge costs. In a tradesman van ( many now use larger vans because of the amount of supplies they carry) it's costing 200/ week in diesel along to do a 100 km return journey and many are traveling more than that. Add to that the cost of 3-4 hours traveling time per day.

Then you have the physical cists of doing working Dublin. Every nail, bag of cement, lenghts of pipe meter of concrete will be 10-15% more expensive.

There has already been economist's on this morning on the radio acknowledging that construction was slowing down prior to the CB announcement.

There is people flapping about LA buying houses and REITs building apartments. The reality is in the case of apartments there is no other finance method available it seems.

I think there is a cohort of movers on here with substantial savings who are look for a price collapse so they can move easier or can build easier. They care little about the effect it will have longterm.

I have two children in there twenty after getting planning premission. Neither of the houses are mansions they both are sub 2k sqfeet. Do I wish building prices were cheaper. Ya I do but wishing and acknowledging reality are two different things.

There is people renting 1&2 bed apartments that need to get on with life. A mortgage would be cheaper than renting in a lot of cases. If it helps them well and good. Most government policy is to give these people who want to buy an edge over movers and to encourage builders to build houses for them.

HTB, shared equity, 4 times salary gives them an edge over movers. It probably limits the building of larger homers like my children intend. But life is about reality not about what I think is good only for me.

As David McWilliams often quotes

'' we should not let the perfect get in the way of the good''

The CBI themselves have admitted it will result in "modest" increases which they haven't actually defined in public announcements. Likely buried somewhere in a paper.

You know that the people who benefit from recession are the wealthy and the less well off struggle... When the recession ends, the wealthy continue to benefit, but those lower earners struggle to catch up as they are on the back foot... Which is exactly the position we're in now...

The wealthy have savings and resources... This economic crash is different from the last one... The wealthy (for the most part) won't need to be bailed out... They own or run the businesses you need to survive... Don't get bogged down with hate... They will be okay in a recession, you probably won't... And it's very unlikely you will benefit in any way...

Ya no difference

Last time we had

70k excess houses by developers unsold

Massive amount of capital invested in property abroad

Massive amount of investment properties owned by taxi drives, trades people, auctioneers and other investors.

Average return on rental property was 2%

Huge amount of personal debt on credit cards, car loans, home improvements,

Banks were financing ordinary Joe Soaps to develop multi unit sites such as farmers or other site owners.

Banks were funding complete projects by developers and builders where no units were going to be sold until whole site was finished

You getting a letters through the door every 2-3 weeks with approval to borrow up to 60k

You could get mortgages to 6X income and 110%funding of house price

Yes all these indicators are present again. Every single one of them.......well maybe a few are missing..... Like f@@king all of them

I not getting aggressive I am mearly pointing out the inconsistency of what many are posting

Could we have a crash yes we could but we would need a lot more imbalance in the market for it to come to fruition.

Hypertension from the farming is enough to send him to the grave let alone boards.ie

When was the last time you saw an eviction ban in Ireland and the government offering money to stop companies going to the wall, not to mention hundreds of euro to everyone to pay their energy bills? Good times ahead eh?

ooh err

There is no hypertension actually I never even get stressed. I was born naked and with nothing. In the end I will be buried with nothing.

In-between what I have done or not done is immaterial. I passed my sixtieth birthday this year. I was send off into this wild wonderful world at 15 years of age with an education and playing pocket billiards

Anything I have in this life I earned. I am retired with four years in the New year. Well actually semi retired. Has God been good to me yes. Have I failings, yes. Am I modest No.

Do I suffer from hypertension, I doubt it says Crocker. Do I spend too long on Boards, undoubtedly.

I am open about where I am in life others are not. Tell me about yourself. Be open. Do you suffer from hypertension. Are you worried.

There are people wealthier than me, people better off. Are they happy. I have a sense of happiness.

DO YOU