Indeed, we owe a hundred billion pints to the other people at the bar.
Information and Communications Technology.
Intune Technologies would be a good example of an Irish company doing well in that sector at the moment.
I’m all for seeing positivity where there genuinely is positivity but tourism in Ireland is in trouble. Visitor numbers have been down year on year since 2007. There was a 2.5-3% drop from 2007 to 2008, a 11.6% drop from 2008 to 2009 and a 12.9% drop from 2009 to 2010 there is very little positive about that.
I’m all for positivity and when I see some, I’ll let you know
As above “Information & Communications Technology”
It’s the new word for IT (Information Technology) and Telecommunications combined.
The world is converging.
The recovery has been well under way for 2-3 years now. House prices have been recovering back to more sustainable levels (although they still have a bit more recovering to do). Over-investment in property has been cut way back. Ireland has been regained a lot of the competitiveness it lost during the bad 2000 to 2007 years. People have been moving out of the unsustainable building industry, and have started to retrain or move to other industries that have a future. School leavers are training for careers with a future. We are slowly moving towards an economy where things like skills, hard work and good ideas are rewarded, and away from the previous regime where wealth came primarily from ownership of property and political connections.
The recovery still has quite some way to go. The property bubble is still doing lots of damage to the economy. There are still far, far too many people unemployed. And the Fianna Fail government inflicted massive damage on the economy with their September 2008 “double or quits” bet on the property bubble.
But it is absolutely the case that Ireland is moving in the right direction, and that the country will be a much better place to live as the result of Ireland’s economic focus moving away from property speculation, and towards making goods and services that people want to buy. The recovery is already well underway.
Maybe the context was lost, as my original post was lifted from a different thread when being quoted here, but I wasn’t describing that as a problem or suggesting that it is evidence of buoyancy in the market that was going to forestall further falls in value. I was just presenting it as an example when making the point that the expat players might make up a more significant portion of the small market that still exists than had been suggested in the post to which I was responding; nothing more.
I’m buying in a small semi-rural location and the only other serious buyers with whom I seem to be competing are also returning emigrants with close ties to that area. I am under no illusion that we have hit the bottom and I fully expect the value of the property I buy to continue to fall. But I have placed a monetary value on what it is worth to me to re-establish my family in that community now by buying the house currently on offer, rather than waiting for prices to fall further and hoping that another house might come on the market at that stage that would be as suitable as the one we are closing on now. And I have calculated that the potential opportunity cost I will incur in terms of falling value is less than the value I have ascribed to being able to buy now and settle down in what will be a home for the rest of our lives. Maybe my assumptions about the rate at which values will fall, and how liquid the market will be when they do, are wrong but you’ve got to base your decisions on the best available information as you see it.
How is a case of gazumping positive news?
I suspect that the OP did not consider gazumping to be positive news but rather the fact that there are still people out there who view Ireland positively enough to want to move back and raise a family here. The gazumping part was just an inconsequential aspect of the story.
“Some had considered coming back previously but at the height of the Celtic Tiger weren’t prepared to move for a similar, or inferior property, which could cost them twice as much, says Simon Ensor, a director with Sherry FitzGerald, who notes that this section of the market is now one of the busiest.
“Of our top four sales in the last 12 months, two would have been to expats,” he says, adding that such buyers have “significant cash deposits” and are generally buying in the €2 million bracket.
The international community is surprisingly active in the residential market for a variety of reasons, according to Sherry FitzGerald managing director Michael Grehan. “Since January of this year we have had visitors to our website from 134 different countries. It says a lot for the Irish diaspora and the potential for returning migrants to buy in a depressed Irish property market .”
The top five visiting countries, he says, are the UK, US, Germany, Australia and France. Overseas browsers now account for 15 per cent of traffic on the agency’s website.
In the country homes market, Harriet Grant of Knight Frank, says that “nearly every second call is coming from someone abroad”, with interest coming from all over, but largely from the UK and Far East. Again, the Irish overseas, who are looking to buy property now with a view to moving back over the next few years, are key players.
“Irish expats were priced out of the market during the boom,” says Grant, adding that they couldn’t afford to go up against property developers for houses with large tracts of land. Now however, they are quick to buy, she says, noting that interest is around the €1 million mark for expats looking to buy property close to where they grew up.
Pat O’Hagan of the country department at Savills, is seeing interest from UK-based Irish expats looking for a house within an hour of Dublin airport in the €500-€700k region, or for a country house estate on 20 acres at €1 million-plus.
take from the article what you will, but I seriously doubt there is a flood of expat’s in the 1-2 million bracket and looks like a treasonous article, you know the kind that was used to bankrupt Ireland then extort money from the taxpayer through fraudulent misrepresentations by the banks to the Gov. I thought we were over this, but maybe “we” need to see dirty starving kids before “we” get the message
Optimism is great. Just give me a good news story and I will tell you how good the news is.
But why do we have to have this baseless optimism to balance what is perceived to be negativity but is simply a realistic view given the dire circumstances? I’m kinda sick of being told that I have to be a cheery little elf looking forward with starry eyes to the bright future ahead of us. Is there not room for debate that is not based on any particular slant or viewpoint one way or the other? And if the news happens to be all bad, then be negative, but don’t lets ignore all the bad news so that we can enjoy the bliss of ignorance.
Besides, there is already the signs of impending recovery thread, why not resurrect that thread?
I feel a lot more positive now that FF are out of office, but the legacy of their utter incompetence and corruption still needs to be paid for. That is our reality and to ignore it would be nice, but pointless.
+1 and like johnnyskeleton says, being positivicious for positivity’s sake is pointless. There are a lot of negative factors still at play for the Irish economy. Until they are addressed, they will remain as negative factors. ‘So far’ ™, fuck all has been done about most of them, bar a bit of the auld spin.
Its had been said before on the pin but what lots of people sill want are old days back … shopping trips, selling houses to each other etc. They actually believed that this was all somehow here to stay and now still believe this can return.
Not anywhere near enough self examination on just how pooorly we rate in the basics of health, education and transport. Still a toleration of mediocrity.
Anne Enright in the Economist: “Ireland is a series of stories it tells itself. None of them are true.” econ.st/hXnYGm
I am out of the country awhile - but there is now a top notch motorway network. Education could be better. We rely on families too much to “top up”. Cost in the UK are eye watering.
The country is far from mending itself. We still vote in the likes of Lowry and Healy Rae…but the self examination IS starting.
Anyhow back to the job in hand. This is a property site. The bottom will be seriously painful (and is two years away). However, I am encouraged with the steps we are making - just need to burn a few more VIs at the stake.
Primarily a property site… there are other forums, e.g. the Central Bank, that cover other economic stuff…
And don’t forget the Socio-Political dimension. Lots of good political discussion, particularly by me.
Noted. I should add it is the only website in Ireland I follow on a regular basis (low bullshit quotient) - I’ll shout a few pints at my housewarming
Sometimes the greatest challenge is to things as they really are rather than as we’d like them to be. Things don’t look good. Denial went on for a lot longer than it should have. While there as been a big visible change in the political landscape, I’m not convinced that there has been a similar change in mindset. It’s almost as if Fianna Fail were tossed into the angry volcano to make the bad shit stop. The bad shit won’t stop.