Softening house market?

And do you understand how what is effectively a reseller like finance Ireland would need interest rates to stabilise a bit before it can profitably offer long term mortgages?

if aib , boi or avant pull their 10 year products then id worry, not finance Ireland.

Thats a stupid unrepresentative straw man .

Not really. A pure reseller wouldn't retain any risk. They would only be acting as a middleman. Stabilizing rates or not would make very little difference to them

I don't see the difference between homes built 15 years ago to the ones built today. The houses in estates are on the same 1/8 acre, with similar sizes. There are fewer detached houses today, but you'd want to be going back to the 90s to get a nice house, detached, nice location to see those benefits. They ain't building those anymore, so the price is through the roof, and you're still left with a 30 year old house, with 30 year old house problems.

I get what you mean though, location location. I grew up in a house where you'd see your breath on a cold morning. Never again. Underfloor heating all the way!

Binary Donald, you are thinking in binary again.

You cannot resell the ticket if you cannot source funds. The way to access funds is either through the ECB or from fund managers ( either from pension funds or investment funds)

Entities like FI if they borrow from the ECB have to have some much private funds in place. They usually need to acquire bonds for that if they cannot access this bond funding they cannot borrow from the ECB. They needs the right amount of bonds for both the existing and new borrowing.

If the bonds cost too much it makes the new lending too expensive that is why they had to go to nearly 4% a few weeks ago when Irish banks did not really move.

There other funding method pension and investment funds will be keeping as liquid as possible and will want serious returns on 3 or 5 year money.

Think outside the box not in binary. No tickets no 2 euro

You pointed nothing out to be fair, if you think your straw man invalidated anything i said you are mistaken.

oke doke.

All lenders have access to the capital markets for funding. If you want to state that there is no change in the markets, then why is that reseller not selling any more of those products? What is the change specific to them that you think affects only them and not other parties?

I only used the ticketmaster example as a toy example to try to explain it to you.

Some are built to a higher standard some are not and your also paying for that BER rating/heat pump for a new house

They are the first to pull; likely as a result of difficulty swapping that risk on the market.

Some of the others may be able to self-hedge to an extent or absorb some of the higher cost. And they would have better networks for any OTC stuff. Swap C/Ps might be pricing in a large credit risk to any transaction with them too. That is one component that would be specific to them, but that in itself is almost a proxy for the health of the market (unless they have been doing something wrong)

Regardless, if you assert that they are pulling their products due to IR volatility then it is likely a reflection on overall market conditions. Whether those conditions turn out to be long term or short term is a different matter. But all market participants will be hit by them to some extent

But your statement that there is no value in 2nd hand homes does not stack up as new homes the value like heat pumps and BER ratings your paying very high premium for.

Exactly. Bought a semiD A3 (nearly A2) in 2020. 170 sqm in south county dublin in a good location and near to good schools, pub, etc. it costs me the same to heat and maintain that heat, than my previous 2006 90sqm apartment (B3). Can’t hear the neighbor and he can’t hear me either. Fantastic sound and heat insulation. The garden is similar size than the older houses in the area. I went into a house nearby similar size to ours but built in the 90s-2000s and I could feel the dampness when entering. I don’t get the bad rep newly built houses get. Give me a brand new house anytime.

So, I've a big decision to make. I've got money in the bank and am ready to buy a suitable house that is available to me (needs a small mortgage to cover the final 15% or so of the cost which I already have approval for), and I need to decide whether to go ahead.

It feels like the worst time to buy - at typical prices ~2 years ago I could have bought this house without any mortgage at all, and if interest rates rise I might find prices put me in that position again next year. I'm not paying rent in the meantime so there's no financial pressure to move from that either.

On the other hand, I've been looking for a year, I'm picky about my requirements and houses that suit are rare, so even if prices drop it may take a very long time for something I like to come available and I kind of want to make the move and get on with my life as I feel a little bit like I'm in limbo until I make the plunge.

What would you do? On the one hand I'm keen and on the other I'm a bit paralysed by the thought that I'm potentially buying at the very top of the market and how much I might regret it depending how things go over the next year or two.

Look, obviously, no-one can tell you what to do, but as someone who has havered all year for reasons not dissimilar to yours, there's an argument for not putting your life on hold any more, and just getting on with it. I'd say the market has already slowed a little, just not feeding into the numbers yet, so you're not buying at the very very top, if that helps.

It's hard to tell what's going on out there - supply has stopped going up, and I don't see much sign of original asking prices dropping. There's been a tilt towards a higher ratio of price reductions vs price increases (except maybe in the last week, since the lending limits changed..?) On the other hand, after a few weeks off from searching, I booked a few viewings today and none of the properties have offers on them yet.