It depends on how you view the “uptick”, I liken it analogously to a sign such as “high pressure/high blood pressure”, and this is not good indicator of overall health. Society is not another matter. You can not simply ignore it when it is the thing. If you think it’s good to rev the engine until the thing explodes, then I’m afraid that’s not a recovery, it’s a car crash in progress. So by ignoring it you fail to make a clear diagnosis of the current state.
It’s a choice you have. We all have a choice, many of them along the way. From my many points of view I see choices being made, big larger oversized institutional choices both in private and in public sphere of responsibility made whose bases spawned from a deep setae multi generational politically derived culture to always have housing at a “crisis point”, it was a crisis on the way up and it’s a crisis on the way down. It’s a choice and others choose to put up with it as opposed to not put up with it.
The dictates of “Do as I say” economics is ruinous to all. Yet since all of this is merely a hologram does it even matter? That is the only question you should ask yourself. You might be surprised at the answer you find.
The whole story doesn’t add up one jot- when has an apartment ever had viewing available within HOURS of it going on daft? Does anyone know how to get the listing for it?
Lets here from some of the 40 disappointed potential renters and why they turned there noses up at all the other 1 and 2 bed apartments for rent all around that area? They are phantoms and that estate agent (not one I have ever heard of) gets some free publicity.
I wish I were a journalist and I’d dig deeper into this story as I think it would be pretty easy to uncover it’s a fake.
With the exception of death and taxes, I’d like to know which parts of the future you think we can know.
Pinsters hate London/UK comparisons, but I have missed significant upward movements in UK house prices on several occasions. Each time I though the market had topped, but each time it proved to be a bear trap. Who knew? So I never bought, and at this stage I’m permanently out of the market, much as I’d quite like to live there.
There is a significant possibility that Dublin property prices could continue on upwards, or correct downwards. Anyone who denies the possibility of either happening is a fool.
We have to try to separate the things we would like to happen from the things which may happen from the things which are likely to happen.
The question is what to do with the knowledge of those possibilities, these known unknowns. You can either make choices that maximize outcomes on average (across all future possibilities), or make choices that maximize individual outcomes (in specific future possibilities) at the expense of others.
It is possible to correctly guess some of the future or possible futures sometimes. Like in a casino, sometimes you can correctly guess that the roulette ball will land on black. That’s a very long way from knowing the future.
Sherrard Street is simply not somewhere where anyone would pay that sort of money to rent a 1 bed. It is not part of the “Silicon Docks” or anything similar.
Still, it’s a great piece of publicity for a recently acquired block of apartments which are for rent. Strange that you’d have 40 people looking to rent 1 apt and not give them the opportunity to rent one of the dozen or so others available.
I’m not predicting future London house prices, but any drop which would make a nice house there affordable (maybe -75%) would be accompanied by such a massive economic shock that I wouldn’t want to live there anyway.
As far as Dublin prices are concerned, both renting and buying, I have absolutely no clue. I’m simply making the point that (and giving an example of where) “stupid” prices can be followed by “stupider” prices which are not immediately followed by a crash as happened here.
Great point. That most Londoners below 35 are completely priced out of their city is not resulting in property prices falling, but the opposite. The scale of the reduction necessary to make it affordable would be absolutely enormous.
Dublin is not london of course, but a similar pattern could easily emerge here, i.e. the capital-owning classes aquire more capital and the rest can head off to the (very) distant suburbs and commuter towns.