Irish Times:6 reasons why the market will be slow to recover

What happens in Europe will be significantly more important than any of the above.

The ECB ultimately determines Irish banks ability to lend, which ultimately is the biggest determinant of Irish house prices.
Maybe in 15 years if people have saved enough in Bank deposits to pay back the ECB things will be different, but for now the ECB needs to be repaid before the banks get all frisky again

Further…Will Ireland stand up to Europe? If it does, will it be successful?
What will Europe/ The EUR etc look like in 12-24 mos time

No-one can know the answers to any of these things. Too many moving parts / seperare self interests etc

Maybe 10 years from now all will be OK, but I suspect there is alot more volatlity/uncertainty to come

another reason not to own a holiday home. … .jsp#ex-q3

ESB will now charge you an extra 9.45 per billing period for low electricity usage.

It costs 60 euro per billing period for a rural home not to use any electricity.

While the writer is an academic & not a media person, he still apparently has difficulty understanding whats happening. This one sentance shows just what is the cause of our slow recovery.

Prices falling is, ‘the correction’, how fucking hard is that to grasp :exclamation: :exclamation: :exclamation: :exclamation:

The last ten years were the problem, when the country collectively chose to believe in money trees. The correction is happening; it’s just taking forever because people still haven’t grasped that the stabilisation prices for houses is about the same salary multiple it was in 1920 & 1940, & 1960.

File this paragraph under “W” for WTF???

Something has to pay the €76000 average salary

I really think people need to hammer down the mailboxes of the papers and at RTE, to counter the bullshit that is written and broadcast. The vested interests with their PR departments have a constant ear and ready outlet at these places.

It’s funny how the Irish Times could have this article on Jan 5th basically saying don’t buy for 24 months minimum, but a whopping four days later another IT reporter produced this beauty … tml?via=mr

which concludes…

It is also funny how, when considering buying, the bright sparks in the Irish Times did not type a few numbers into Excel, such as:

Number of Individual Houses Advertisments Sold Annually 80,000 Average Cost of Advertisment €50 Average Net Profit Margin Percentage 20% Net Profit Margin Per Advertisment €10.00 Annual Profit €800,000 Purchasing Multiple 7 Purchasing Price €5,600,000

to produce some reasonable purchase price scenarios instead of blowing €50 million.

Maybe these two funnies are somehow related.

where did you get those figures?

Haven’t you heard, renters who are waiting for prices to fall so they can afford to purchase a house are not “people” :smiley: