Headline article in tonights Herald. Some estate in Delgany, Dublin where the price of the new phase is 595K compared to the 700K which new buyers had paid weeks earlier.
Quote from Eddie Hobbs was that “this is a hard soft landing”.
was???
Caveat emptor indeed.
This is a very significant story.
I’d love to see a scan of this if anyone has a copy…
This isn’t intended as glee in any way but don’t you just love the sense of entitlement among the residents? They’re “livid” because the market seems to have fallen so far in just two weeks. I do appreciate that it must be a scary feeling for them to be sitting on a property that is dropping like a stone but we can’t forget that no-one was complaining when prices were rising in the 10,000s per week. 
Anyone know which development this happened with?
needs more Miami
Anyone who buys this year is knowingly buying into a fallin market all the facts point to this. What do they expect to happen ?
Do they expect the market will just stop falling the day they buy?
Willow Park, on the Churchfields development.
We’ve had all these comments in the newspapers that developers aren’t worried because they’ve made so much money and they can afford to just sit tight and wait for the buyers to come back. But all developers are leveraged businesses, and loans need servicing which requires cashflows.
myhome.ie/search/property.as … earchlist=
Willow Park, Churchfields in Delgany according to the article.
The developers are Elm bawn
This is the tipping point for public sentiment folks.
Here ya go!..Don’t think the sheikhs would buy either 
EDIT OW: I’ve cropped the images, improved contrast & compressed them even more. Please take note if using an image try to keep them as lean as possible I managed to reduce the file size for both these images orignally from 853K to 233K think of the dial ups people
If anyone has any quesiton about how to make good net friendly images pm and I’ll advise
Eddie recycling the myth that an owner occupier has “lost” in a falling market.
No Eddie, they made a price/value judgement and borrowed to finance. They still have to pay back the same loan now as they did before.
Let’s be honest people. We are witnessing regret, nothing more.
Agreed especially for the Dublin area . I wonder will the national papers pick up on this story for the weekend
Only if it can get out of the Herald and into the broadsheets!
But it’ll look interesting around Dublin this evening with that plastered on the side of all the newspaper vendors… 
I’m not sure that’s entirely fair. If nothing else, now that they are deep in negative equity they’ve lost the freedom to move that they would otherwise have had.
It may be that none sold for MONTHS at the higher price so strictly speaking it may not be weeks or days but MONTHS
This is the problem when people don’t know the value of something. If I go to buy a car I have a rough idea of how much I’m willing to pay and how much something is worth. House purchasers today know how much they are willing to pay and that’s it.
I know based on rental yields how much I think a property is worth and they are all overpriced right now, so I don’t buy. Complaining when you’ve got your sums wrong is a bit rich.
Really?