Softening house market?

Well said. Now people are more concerned about how they look on Instagram or sorry Insta 🤣

But why cry! It was your responsibility to say No just as you did say No. But why do you think it is always someone else responsible for your decision! It is your responsibility, something that perhaps never too late to learn. Just cause you are offered a big loan from the bank, it is your responsibility to check if you can can repay.

AIB is to increase the interest rate it charges for new fixed rate mortgages by another 0.5%.

It is the second rate increase by the bank since Octobe

The changes, which take place from close of business today, will not affect existing fixed rate mortgage holders with the bank or those with variable rates.

Borrowers with tracker mortgages have already seen their rates increase in line with European Central Bank changes.

The move follows three rate increases since July by the ECB, bringing its main lending rate to 2%.

AIB says that customers who draw down their mortgage by 16 January 16 will be able to avail of previous rates.

The increase will apply to AIB mortgages as well as those from the group's EBS and Haven brands.

According to AIB more than half of its mortgage customers are on a fixed rate mortgage.

The increases are the latest of a slew by the main banks here in recent weeks.

The most recent announcement came yesterday, when Ulster Bank said it was increasing its fixed rates on certain mortgages.

Further rate increases are expected from the ECB in the coming months, with a rise of as much as 0.75% anticipated next month.

AIB will also launch a one year fixed term deposit product offering a rate of 0.5% for personal and business customers with deposit balances of greater than €15,000.

This represents an increase on the previously announced fixed term deposit rate of 0.25%, the bank said.

It requires an intention to defraud which can be inferred if no good excuse is available.

That wasn't his point at all. He said he didn't take it. His point was that he, as presumably an 18 year old with no credit history or employment, had fairly large sums of money thrown at him. It was a point as to the availability of credit at that time.

Show me where I clamed to be an expert in this? I have shown you by experience that builders when doing construction work like extensions cover themselves from risk, that is my experience. You have yet to show me the risk, Indemnity insurance and deposits + paid in advanced for work? Not to mention your argument of them going on the dole or to a different job which is completely laughable and then they will emigrate according to your wise words and neglecting to state that other countries all over the globe are also going through what Ireland are going through with regards to prices with raw materials so its out of the frying pan and into the fire.

To me he is coming across as saying nearly all folk nowadays are driving around in fairly good cars that the banks own.I had a similar experience with car salesman when paying for a 2 year old car /

What is your take on what was said

I am 49 years and have worked with the last 35 years ,there would be something wrong if I could not afford to buy for cash .When I started out 12 pound was my wage for long day of manual work and that is not so long ago and so appreciate money.It is unbelievable that young working people can not gather together 30k between a typical couple to put deposit on house yet they eat out 3 times a week ,have a newish suv,go on 2 foreign holidays and pay 5k/annum rent .Houses were way dearer from 2001 -2008 with higher apr so expecting house prices to drop from current prices is wishfull thinking and that is the reality!!!

'The people buying houses today are paying for the mistakes of those who bought in the 00's'

could you please explain your rationale behind this statement

You should ask him if he was doing all of that before and when trying to purchase the house? Fact is he doesn't need to save for one so he can spend his cash on what he wants. It is not fair do people who dont pay their mortgage should be out of their house

Well you see, the generation before you weren't hoovering up all the assets and creating conditions for prices to explode so it was indeed easier for you.

The current generation are being held to ransom by all the people who "struggled" to build or acquire their second (and subsequent) houses.

How about a theoretical suggestion that the government lower income taxes and VAT and reintroduce rates on domestic property? (Or significantly increase the property tax). It would bring down the value of houses while also increasing the money in workers pockets to help them to buy them!

All the old fogeys moaning about "avocado toast" can then deal with the new reality of a reversion back to the conditions that were still around (or the effects of those conditions) when they were "struggling" to get their feet on the ladder.

Did people commute for as long 30 years ago? I guarantee you "no". Did people work as long hours as they did 30 years ago? Again the answer is usually "no". (People starting out in professional salaried jobs generally have to do far more than 40 hours a week on practice).

Back in the day people probably had a 15 minute commute, leaving their house in the morning at 8:45am with their packed lunch their missus had ready for them. They then arrived home to their dinner sitting on the table at 5:15pm. Maybe headed out for a few pints then afterwards. Now you probably have someone leaving their house at 7am, being stuck in traffic for over an hour, leaving the office at 6, getting back home around half 7, answering more emails and then trying to cook their own dinner.