The outlook for population and income from the governments favourite economic think tank is bleak for the property market.
Net outflow of 60,000 people from the State in year ended April 2010 and a further 40,000 y/e Apr 2011 (but the good news is that keeps the unemployment rate down)
For those that stay, the ESRI thinks their net incomes will also continue to drop.
esri.ie/UserFiles/publicatio … 010Spr.pdf
Ah nice one, the emigration rate is bottoming out. What would Marian have to say on this one?
How do they caluclate the migration figures?
CSO Air Passenger Movements possibly.
It looks like they’re predicting mortgage rates in the Irish market to hit 6% by 2011.
Unfortunately people seem more than willing to sign up for 1-2 year teaser rates and not really consider the actual rate they’ll be paying.
More to the point, the craven consumer panel of the FR continues to rabbit on about tracker mortgages and not address the long-term costs of mortgages.