Softening house market?

'ominous market conditions' = panicked buyers who couldnt keep their emotions in check by overbidding their approved limit, faciliated by EAs and vendors wringing their hands together to extract maximum coin without actually qualifying their buyers.

Ominous indeed.

Asking prices are a distraction but published statistics lag the market by months.

Indeed, the grass isn't always greener.

Besides derailing this thread....thats a load of bollocks...

Meanwhile the IT are giving that Sherry FitzGerald 'report' predicting prises rises more oxygen.

Now that really is a complete load of bollocks.

so what?

Prices can rise as sales volumes decline, which if reports are correct the PPR will verify in time.

There is also supply problems internationally but it didn't stop them having a correction because of interest rates.

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I dont think your going to see price drops until the 2nd/3rd quarter of next year. Its next year that interest rates, cost of living, cost of energy and the recession will really kick in. I mean look at the tech space this was one area that grew throughout the last recession and after and now its in a downward spiral. If these big companies are feeling the pinch our small and medium domestic companies are going to be hitting the wall like flies on a windscreen.

Well that is not going to happen.

The UK have its issues but its not a failed state, not by a long shot.

Give it 12 months already tech bubble has burst and that's not to mention how dire our small and medium domestic companies are going. Throw in interest rates possible going above 4% in the next 12 months. House prices would of dropped by the end of the year but the Central bank (after been put under pressure from the government) tinkering with the lending limits has stalled that for now but once those interest rates go up and up and up and our population starts to get smaller and unemployment grows and with a huge cut to our corpo tax we will see a drop in property prices by the end of next year and the gobshites in power for years have been using the gains from corpo tax to increase our yearly outgoings in both welfare and public sector pay and pensions.. Sure what could go wrong. I point you to Bertie who did the same with welfare and the public sector (benchmarking twice) before that bubble burst in 08 and based this expenditure on the then very expensive stamp duty returns. Its all well and good to do this if we had no debt but we are one of the most indebted nations in the world and the cost of which will rise as interest rates increase. Ireland will be losing a lot of people over the next 12/24 months any young person and even older ones will seriously think about emigration due to no housing to buy or rent. The same issues with property supply does not seem to be as acute in places like the US , UK, Canada or Australia which are typically the most popular destination for our population when it comes to emigration. The cat is out of the bag Ireland is now the most shorted Euro market going from 1% to over 46% so the money men are telling us that they see a whole heap of suffering in the next 12 months for Ireland.

The short interest spiking all of a sudden is extremely worrying. The money men know Ireland is fur coat and no knickers especially if these tech heavies corporates tax intakes drop substantially not alone the affect of all the job losses on the income tax side of the balance sheet. The thing is with these tech jobs now is every big tech company in Ireland is on a hiring freeze or laying people off. The people that get laid off realistically have nowhere to go as their counterparts are on hiring freezes. Tough times ahead, as my 'aul fella' would say "no harm, a good aul bang ill put manners on them".

If after the last few years ANYONE believes that the state is run for the benefit of Irish citizens, then please PM me, for I have some magic beans to sell. This isn't a country; it's some sort of bizarre pension fund / Ponzi scheme with a flag. To me, living in Ireland is like trying to climb a pyramid whilst those further up pour oil down the slope.