Softening house market?

2009 was 14 years ago. The good pensions are gone.

...again, those of us employed in the private sector have the right to apply for public sector jobs, just like everyone else, what we should be striving for is to obtain the same or similar conditions to those in the public sector, as its clearly obvious, many are far superior than the private sector....

How is that relevant? This thread is about the housing market and whether it is softening or not. A person who retired at 60 in 2009 would be 73 now. They are not buying houses.

If you think it’s relevant because of money “wasted” then you should be more annoyed at Charlie McCreevy and co blowing money on nonsense when they should have built an underground rail in Dublin.

The biggest factor for whether people who work for the state now have a house is their age. If they are over 40, probably yes, under 40, probably not.

People hold off on sales til the new year anyway, it's standard practice. Whether or not the numbers turn out to be "unprecedented" we'll have to wait and see, but since it came from an EA you can assume it's spoof and give it the same weight as your dog barking to go outside and take a shite

We are still currently paying for a lot of those outrageously generous pensions currently

I currently contract into the public sector but have previously been full time in the private sector also. I work with public sector employees and know their pay scales. For my current role I would be paid less if I went full time in the public sector and that's a fact. But if I was to put a monetary value on the extra leave, work demands etc. then any pay gap narrows quite quickly.

I can only speak from what have seen over 20 years of both public and private work, I cannot comment on the source or validity of CSO weekly wage data.

Your Ken Foxe link discusses 66 retired senior staff such as Sec Gens. Sec Gens are the most senior staff in a department after a minister.

They would be the most savvy, skilled, cut-throat and ambitious people in any department, who would manage several thousand staff.

People like that gravitate towards jobs that get paid like that.

Its not representative of anything.

The CEO of Dunnes Stores probably makes a few quid too, do you have a problem with that? Or are you only outraged by people who work for the state getting paid a lot?

Regardless, it only points to the excesses of the older generation, and has nothing to do with the average PS/CS employee of today.

jesus Christ, this one again, public debt isnt necessarily a bad thing, it depends what that debt is used for, if this debt/money is used to benefit society and the economy, everyone wins!

You’re ignoring the increased seasonality in the private sector in average weekly earnings which the CSO are at pains to make clear.

Move a few cells to the right.

Annual increase in weekly earnings (to remove seasonality)

Public Sector - 0.6%

Private Sector - 4.5%

bond yield rates are generally at fixed rates, most of our current government debt has been taken on during record low levels, these record low rates still exist at approximately 2.5%, yes servicing of these debts is the responsibility of all, including businesses operating within our jurisdiction, including corporations etc. its a misnomer to continually use these type of debts as a negative towards current and future generations, as its a critical social and economic need, without which, neither a functioning society and economy is not possible without it, and by not having such debts, this would force us out into credit markets for our debt/money needs, which would be highly dangerous, i.e. the main cause of the 08 crash!

Lads have to go back home and feed the cattle. How else are you supposed to get it done ffs?

Even with that they are still paid 20% more on average per week

You are mixing up your terminology there. Are you thinking of the coupon rate? Generally issuers would prefer to issue floating debt (if fixed, they will often swap it back to floating). Especially for longer maturity debt as it reduces the duration. The yield on any given bond will change from day to day. (That's yield-to-maturity rather than par-yield which is a different thing)

again, more misnomer conservative nonsense!

once again, bond yields are generally at fixed rates, rates are currently at record lows, currently just shy of 3%, roughly 15% during the 80's, yes, when bonds mature, these must be serviced, baring in mind, it is common practice for such debts to be continually rolled over, and refinanced, without leading to great problems...

in order for an economy to grow, as ours did over the last few decades, our debts must grow, as debt is our money supply, i.e. no debt, no money supply, equals no fun!

...but yes, a significant proportion of our debts have been greatly misused, this has become very evident in the last couple of decades, bail outs, and subsequently the bail out of property markets etc, i.e. a significant proportion of our debts, both household(private), and public debts, have ultimately been used to (re)inflate asset markets, in particular our property markets....

...some would call these debts odious, and really should be forgiven(best of luck with trying to do that one!)

so generous welfare that had to be almost doubled for some during covid!

increasing welfare actually makes sense, again, as pup proved, as a lot of this money was spent into the economy almost immediately, protecting many businesses, and helping in creating jobs!

its clearly obvious we have become overly dependent on the credit supply, which is now only truly being used to (re)inflate that value of assets such as property, and the only way to counteract this is by increasing the public entity of the money supply, the deficit, but to not use it towards (re)inflating the value of assets, but to actual use it to help us achieve our needs, including, and in particular in creating new assets such as new properties!