limerickindependent.com/property/property/houses-prices-have-hit-rock-bottom/
Correct me if Iâm wrong but is Limerick not rapidly racing to the top of the unemployment blackspot league?
True, someone should protect these poor marks from putting depsits on overpriced shoeboxes to begin with.
House prices have dropped to rock bottom. It must be true if they say so! Time to go out and buy 
Now if he could only get some tenants for his Coonagh Cross Shopping centreâŚ
From the same guys who brought you: âif you donât buy now, youâll never be able toâ.
Who writes this crap, just as Dell R&D are in the middle of a 30 day review.?
AS Iâve said before, land is now available more cheaply, so if and when demand returns, developers not strangled with unsold stock will be able to turn a profit at lower prices as
Cost of labour will be lower
Cost of materials will be lower
Cost of site will be lower
New tech for improving insulation etc will improve quality
Break out the picture of the good ship Bertie, laden down with unsold houses for export.
On one hand the article is statign the obvious. Nobody is going to invest money building something that
they canât sell at a profit.
From that obvious statement it leaps off Alice in Wonderland like to the conclusion that people must
therefore start paying the current asking prices.
Nobody is asking anyone to build houses at a loss. We have a couple of years worth of unsold houses
to keep up the supply side, and many of them WILL have to be sold at a loss.
When that lot washes through the system and thereâs a need for new houses, it will be possible to
build and sell them for a profit.
So, be off with you, to whatever oasis of profitability youâve found overseas. Best of luck.
But weâre still not paying current asking prices.
-Rd
Cape Verde is booming, I hear.
âA special reportâ Ho hum.
As a builder who survived the 80âs and will survive this crash said to me today, âTough sh!te if you paid silly money for your sites, donât expect the buyers to pay for the overvalued landâ
Redquartz, McInerney, Shelbourne, Glenkerrin, even Treasury⌠prudent indeed
Whoâs this guy?, I wanna buy from him!
Itâs a little Cleavon Little in Blazing SaddlesâŚ
You know the bit when he puts his gun to his head and says: âDonât move or the N****** gets itâŚâ 
This lucky developer must have not borrowing if he can afford to leave those places empty that long
Talk about throwing their toys out of the pram 
Yes you mothball your unfinsihed sites. They will be much more valuable in another decade, with the smashed windows, squaters, junkies and needles everywhere. 
Any professional investor, business person, recognises when they are licked. Cut their losses, and move on. These guys are determined to go down with the ship (illustrated above!)
Theyâll need cash serious cash reserves to front this one for a few years, will their bank agree with their stance?
Some people just donât grasp the global, in Global RecessionâŚ
âOccasional Saleâ I wonder how these people feel with a wrath of empty houses around them
Concise Oxford Dictionary definition:
Afford:
have enough money , means, time etc, for;
be able to spare;
be in a position to be able to do something (esp without risk of adverse consequences)
So far so good, although the adverse consequences bit is a bit worrying (eg capital loss; inability to service mortgage in event of job loss; immobility in event of negative equity)
But the key issue is that something may on paper be âaffordableâ but people can still choose what they want to âaffordâ. Iâm choosing renting. Iâm choosing not to risk the adverse consequences listed above. Iâm choosing to have money spare for things other than property. Iâm choosing to maximise the things that I can afford.
Mr Chieftan however has his own affordability issues. Clearly he can afford to service the interest on his loans or to forego the use of the capital invested. And he can afford to mantain and secure the properties while they lie empty. Good for him. 
So everybodyâs happy 
So affordability cuts both ways. But the business wonât happen until he- or perhaps his bank- changes the choice he has made. Who owns or subsidises the bank I wonder?
Oh!! look!!! a gigantic bucket of wishful thinking!!!
I call bullshitâŚ
Dublin is surrounded by empty apartments and housing estates and I doubt Limerick is any different,
I think the housing finishes for this year wll still be well above the 15000 per annum that is sustainable in a country of our population, sustainable once theempties are sorted that isâŚ
Itâs da fundamentals and de fundamentals are not lookin goodâŚ