A quick scan and wht is this, are Irish House prices are failing and that’s normal because it means the market is working… right?
normalize = soft landing
The report, conducted in association with Davy, shows a 1.3 per cent decline on the previous quarter nationally, with asking prices also down 1.1 per cent in Dublin and 1 per cent across the country excluding Dublin over the same period.
Predicting growth.
"Looking forward, we expect that Irish house asking prices will grow by 6 per cent through 2022 and by 3 per cent in 2023.
“There are of course many risks to this view. Ireland potentially faces an energy crisis this winter amid fears of a full-blown European recession brought on by events in Ukraine and surging natural gas prices,” he added.
Ah. All those pesky things. Thank goodness no one is talking down the market.
The non physical banks won’t survive with these rate increases, as they rely on borrowing from the markets at a cheaper rate than they lend at. They also don’t have customer deposits they can use.
Overvalued, that’s alright… not a crash, it’s a slooowdown, a normaldown picking up pace safely and effectively.
Living with Normaldown.
Living standards
Prof McQuinn warned that most people will experience a decline in their living standards this year because of rising inflation.
It was clear that wages were not keeping pace with the cost of living which is predicted to rise by 7 per cent over 2022 and 2023, he told RTÉ’s Morning Ireland.
