Irish Property Market chat II - *read mod note post #1 before posting*

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Housing/real estate

See in the Sunday times today Tara mines were denied access to electricity rebate scheme as Eamon Ryan said it wasn't appropriate for mining companies to enter.

They paid 7-8 million in royalties to the government last year, employ 650 on great money + contractors on top. Support God knows how many jobs locally.

Talk about shooting ourselves in the foot.

Agreed. The Ireland today is lightyears away from the Ireland when Intel first came to these shores in the 90s. The fact they are having to put employees up in hotels because of lack of local housing/rentals would totally pee you off.

Indeed. Those terrible days of the 80s and 90s and all that went with it. It was possible to raise a family on one income. My parents in their 20s were able to buy a home 5 minutes from my dad's parents in Dublin 3. I went to school in a class with just 15 other kids in central Dublin. The city was not an overpopulated, reeking cesspit... truly they were bad times. It warms my heart to live in this glorious modern Ireland, and I do not for one second believe that the state has turned this county into a globalist investment fund with a flag...

ESG has to be one of the most sinister and dangerous forces at work in the Western world. As a personal experience, I work for a large Irish company (I won't say which one), and we recently had a town hall with the new CEO. He spent a whole hour talking about ESG and not once did he mention anything related to the actual business of the company. Naturally, now that it's June, the office is festooned with rainbow flags for extra Blockrock brownie points.

ESG creates noting, but it serves to further the infinite growth paradigm. If it fails, and it likely will eventually, those who push the agenda like the aforementioned CEO will have moved on to another roost.

People coming off 1.5% to 6% now, it's going to lead to some amount of defaults.

How long does it usually take for houses to go from for sale to sale agreed? Im currently interested in a property that has no bids after 2.5 months. It is expensive in a good location but other houses in its range have come and gone in the period. Sellers have no interest in budging from asking price which seems a little odd considering it is on the market for quite a while now but maybe they all take this long?

Sometimes people only want to sell for a particular price. They are probably not too pushed about selling it for lower and will hang on to it rather than go lower. We were like that when we decided to move. We said if we didnt get x amount for our old house then were happy to just stay where we were forever instead of moving. I think you'll see more of this if prices start falling. People might rethink their decision to sell.

You seem surprised that people would chose to shoot themselves in the foot and yet there are post after posts wishing for a recession in hope of cheap houses.

You must have gone to my school as you described my experience to a tee.

And out of that was borne the Family Home Protection Act 1976. Designed by the Govt to protect wives and children from being made homeless by a wayward husband/father. Whilst it was no doubt relevant back in the day, I wonder if it is today?

This legislation is what has restricted the banks for reposessing defaulters (especially post GFC) at scale, one of the main reasons (the other being capital requirements) why we have reduced competition in the mortgage lending market here. Our banks here are cr@p, are not innovative and have sh!tty customer service. My local branch still shuts at lunchtime - right when everyone else at work wants to do their banking! Even the Post Officeis open at lunch!

It also forces lenders to have policies that married couples must apply jointly for a mortgage, so that in the event either spouse has a credit issue, then they are generally excluded from getting a mortage with any of the main lenders, even if that loan can be serviced adequately by one salary. The banks simply wont consider an application which is unfair.

I’m not getting the 70’s 80’s mixed up…teachers strikes because of class sizes etc was the mid 80’s. All that I was pointing out is that buying a house on one person’s salary back then was common because it was a time when women were forced to give up work when they got married.

By the mid/late eighties alot of women were holding onto there jobs. I got married in 1991 and my better half hne er considered giving up her job.

However houses were much more basic. Friend bought a new house in the mid 1980's. The house had a back boiler on the open fire no oil or gas. It's was not painted, no landscaping builder was selling as he build so tarmac was not completed until all houses build( back then there was a 50/50 chance the builder would not do it).

There was no appliances supplied. Teak single glazed windows( lucky enough there was still builders doing softwood ones). There was no floor covering. Attic was insulated but walls were not and there would have been little insulation under the floor. Electrical points would have been minimal example sitting room a double on one side of the chimney breast and one on the back wall. A single in the hall. Bedrooms generally had a double point. There was no onsite.

There was a kitchen but it was a row of units along one wall the narrow one. No utility. I would have know a few of his neighbours ( I actually lived there for a few years and most of the women continued to work throughout there lives