Rents schments

You are entirely correct my good man and such is the beast that the property bubble has wrought… Most people won’t consider the whole schematicen when renting, much as anything else, the headline price for anything catches the attention as opposed to the ancillaries…

You can draw a parallel with the used car market I think: it is absolutely flooded with 2nd hand cars: thousands upon thousands upon thousands of them - look at or any garage forecourt crammed with used vehicles: normal economic theory suggests prices should have dropped like a stone but they haven’t: cars that should be worth no more than a couple hundred are still being advertised for thousands. The reason is that people would rather hang onto the car and let it rust into the ground rather than sell it below what they think it’s worth; not sure if this is an Irish trait.

Same with property - there are 000’s of similar rental properties but if they all keep their rents high because they all need a minimum to cover the mortgage then that is where rents remain. Eventually of course, the more desperate ones will start dropping and if enough do so then you’ll see a gradual decline. But I wouldn’t hold my breath! Like you said, each landlord keeps a keen eye on and adjust to what others are advertising, just like what your did. Perhaps is being used an informal (albeit illegal?) means of price/rent control.

I’m going to have to put that to the test! I’m moving to a country with public transport so I’ve no use for a car anymore. Have priced €500-€1000 below the ‘market’ value and I’m getting a bit of interest. I’d say if I didn’t shave money off the price nobody would be interested.

i see the price of public transport is going up too

this kind of thing is a boost to LL owning gaffs in well located areas.
in fact the governments tragic mismanagement of public transport is a blessing for such LLs. maybe i should start voting for FF.

Let us know how it goes. My theories are always being savaged on the PIN…poor little crashandburn :cry:

There’s never been a beter time to buy a car! Bus tickets are dead money :slight_smile:

On a slightly related note, did anyone hear the VI on Q&A who asked the property question, say 'you only have to look at the number of ‘08 cars on the road’ in an attempt to talk up the economy. I haven’t seen one! Surely it’s a little early in the year for that particular platatude.

Actually, that’s true…

I haven’t seen one either!!! That must be record…

I should write into the IT…

Dear Madam,

The first swallow of the season, etc… But no fucking 08s…

I’ve seen a few around, but not many so far. Perhaps there is less disposable cash around or perhaps it’s something to do with this…

Your letter might get ‘edited for clarity’ :slight_smile:

However I did see one on Jan 2nd, and its number was in the 500s. (Don’t know if that strictly means that the others were on the road yet)

My next door neighbour has one. Then again they appear to work for a car dealer and change their car multiple times a year :slight_smile:

Saw one in the 4000’s


Just never asked him what he does!