Ireland: Fasting growing property market in the world

The Central Bank
1

…according to global property index from Knight Frank…

irishtimes.com/business/econ … -1.2030003

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I was just about to post the same thing. It’s ok though, you can’t have a bubble without credit abnd all that… XX

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Nice one. We’ve leared from out mistakes. Gravy train back… XX

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Is the “growing property market” equal to “prices rising”? Constrict supply … prices rise = growth?

I like this bit!: “Ireland has out-performed”… you’d think we’d actually done something good, or something at all!!

5

This is what I have been banging on about for years. People keep calling it a “market”. I keep saying we cannot infer a market rise from the property price rises in the past few years.

A puff piece in a newspaper depending on EA advertising and supported by EA data is not credible.

6

we’ll surely make the playoffs…

what do win?

:smiley:

7

Is it time for a new newspaper, one with some modicum of critical thinking?

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The Indo property pimpers have published their take on it… we’re in for a soft landing!!!

independent.ie/business/pers … 10724.html

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Ah thank goodness for the soft landing, it will be grand! BD

10

I wish the Indo would make up it’s mind :wink:
We get the view back in October that prices will go through the roof by Christmas due to investors and FTBs battling for properties. Battling I tells ya!
Now we get the “many properties left on the market are now having their prices reduced”, and the investor surge has failed to materialise.
So which extreme view are we living in? One of them? None of them? Both?

A newspaper? They might as well be standing in the street shouting whatever stream of consciousness they feel like…

11

I think it is clear that they are now trying to downplay the extent of the inflation in the market. I mean, world number one ahead of London and Dubai?! It is hard for anyone to defend that as not being a bubble. Far better to say that the market is cooling and that the current prices will be sustained. Never crash, oh no not that…

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What am I supposed to think? Please Indo! Tell me what to THINK!!! :-GC

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The Metro can help you with your thoughts brother!

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I’m just a squad player and haven’t got a run out in the property game yet. I’ll happily sit on the bench and stay off the field play. As long as we’re top of the league I’ve nothing to be complaining about. I clearly don’t have the aptitude or mindset of my fellow property players. I’m honoured to at least don the same green shirt. Go Ireland!

15

That’s exactly it.
“Come on in. The water is only 80 deg C!”

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While absolute prices aren’t back at boom time levels; IMO, affordability is at, or has exceeded boom time levels.

e.g. A gaff bought for €700k in 2007 vs. same gaff priced at €500k today.

It costs €2,262 a month to service 92% of €500k (assuming you have a rock solid job and are still young)

The guy who bought at €700k with a tracker is paying about the same.

Also, guy who bought at €700k didn’t have USC factored into his affordability calculation. He got a mortgage based on shaky income.

In summary: we’re back to boom time levels. I would say rent has exceeded boom time levels.

Utter madness.

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Utter madness, yet many are silent as though its perfectly normal. We are screwed, we should have defaulted a long time ago and just accepted whatever isolation and punishment the EU bankers threw at us.

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But the culture is the thing.
Either way the govt and society would have inflated house prices to the limit of affordability.

Folk are silent because this situation fits with their expectations. They expect property prices to inflate and to swallow up wealth/income. It is madness, but it is a shared madness.

19

But he wasn’t paying those low rates in 2007.

20

“Fasting growing property market in the world”, is it fasting for religious reasons or is it on a diet to show down the growth :-GC