Viewing Highly Recommended - The Introductions Thread


#201

Greetings to you

Name: i’m not mr. campbell

Age: 27, no spawn

Location: Dubliner on tour in the west

Occupation: one of harney’s bottom feeders

House buying status: negative. renting at a small profit.

View on irish property: probably the same as the majority of you - overpriced but will inevitably correct. prices to drop to average price of 186,000 europeans by july 2011 then slowly increase.


#202

My GF reckons I’m going to need some form of support service when I finally do buy a house to help me come off the pin. Don’t worry though the Central Bank thread will still provide a hit every now and then.


#203

Name: Digout

age : 33

Location : Grublin

status : renting and happy with it


#204

Name: Onestepbehind

Status: See name

Age: At the age where I start lying so it doesn’t matter

Occupation: Civil Servant

Housing status: Renting

Children: Yes, I used to call them my “other mortgage” but now that I’m renting it wouldn’t be fair on my little boy.

AAM status - my first post earned me a warning!! Have not been on since.

Views on the property crash: It’s not a crash it’s an adjustment.


#205

Name: Libero.

Age: around 30.

House buying status: renting for the last few years.

AAM Status: never thought much of the place; long-time Politics.ie poster, now don’t think much of it either! Long-time lurker here.

View on Irish property crash: veteran vocal bear.

Timeline for crash: final capitulation in H1 2010.

Where I would buy property: Ireland 1992; Shanghai not Dubai.

And not to blow my own trumpet too loundly but here was me in April 2005… (politics.ie/current-affairs/877-house-prices-ireland.html)
*My own prediction is for a 40% fall in median house prices and lesser falls in commercial property. Not that I have a clue when this will happen. If the Euro comes under pressure from a breakdown in the Stability Pact, then interest rates can’t stay so low, so that’s one possibility - although as I just pointed out the correction might come largely out of the blue, as in Japan.

Lastly, hardly anyone in Irish politics has an understanding of how such a fall would devastate our banking system. The big Irish banks have balance sheets full of property debt. If this collateral were to significantly drop in value just as loans turn bad, then we are looking at serious risks to their ability to lend (which would further exacerbate any price falls).
Working capital funds for business would dry up pretty quickly and small and medium enterprise business lending would go ker-plunk.

All in all, we could see negative GNP growth for a couple of years and Sinn Féin at 30%+ in the polls.*

Well, I probably got the Sinn Féin thing wrong but it’s an interesting thread to check out - like stepping back in time…

September 2004…(politics.ie/current-affairs/52-never-own-home-your-own-thanks-fianna-fail-4.html)
For what it’s worth, I think that in five years time we will look back to the last five-ten years as an insane financial bubble, of the same type as the South Sea bubble, the Dutch tulip craze, Japanese 1980s property or the 1990s tech bubble.
The market is propelled by froth and the maximum extension of credit with little attention paid to fundamentals.
It could fall by 40% with consequent destruction of banks’ and building societies’ balance sheets. I’m no doom-mongerer but forget about negative equity: it will be the country’s financial system and economic growth that will be neutered when we wake up from this obsession.


#206

Name: Oops
Age: 35
House buying status: Sold in Dublin, early 2007, thanks to good advice from the Pin and my Stockbroker. Moved to the sunny (not) South East where I’m renting a fabulous house for 30% of what I’d pay in mortgage if I bought it.
AAM status: Found the Pin through it.
View on an Irish property crash: Prices will decline by 50%+ in total
Timeline for crash: Started already and will take another 3-5 years to find the floor.
Where would I buy property: I’ll be unemployed as of January next (the South East is getting hammered by job cuts) so am trying to get my head around the fact I’ll probably have to move back to Dublin. Will buy PPR as close to work and schools as possible. I HATE commuting.


#207

Name: Polite Engineer

Age: 26

Job: Civil Engineer

House buying status: Renting (€400 p.m. for a big double room is ridiculously good value for now) and looking to buy with the lady in my life, sometime in the future.

View on an Irish property crash: Prices will decline by 53.455% in total and probably will take another 2 years to hit the bottom. Would like to buy before then, basicly whenever I can afford a 20 - 25 year mortgage…not that worried about equity. I intend to pick the right place as I like my job.

Where would I buy property: Within 20 mins cycle to work in South Dublin if possible…and if I have a job of course :slight_smile:


#208

Name: HouseOfCards

Age: Old enough to know better (mid thirties)

Occupation: Engineering - luckily I’m busy but its grim in the industry

Housing status: Renting. Usualy smile when people ask and I tell them that its cheaper than buying

**AAM status: **Found the Pin there but the ‘user banned’, ‘thread locked’, ‘the crisis is over’ mod approach is a joke. Feel for the poor people that aren’t allowed to be alerted to the VI’s and take advice.

**Views on the property crash: **Its a shame that people thought we were all going to get rich buying and selling over-priced houses to each other using other peoples money. (see also - username)

**Timeline for the crash: **x amount of years. I just don’t trust the house buying public to kick start the lemming style approach and start blind panic jumping again as soon as the meeja manage to convince them things are ‘good value’

Smug factor: High - Sold in Feb 07 and stuck the money in the bank

.


#209

Name: Pollydolly

**Age: **Definitely old enough to know better

**Occupation: ** Backseat driver

Housing status: Long convoluted story - short version is renting in Ireland and own a house in Andalucia, Spain

AAM status: Found out about it through the Pin, rarely visit it, though it can be useful for odd bits and pieces of information I suppose.

Views on the property crash: I’ve been expecting it since 2003 really, but I have to say its all much, much worse than I could have imagined back then…the fall-out will be pretty horrible, we’ve seen nothing yet!
**
Timeline for the crash:** who knows? This country is an economic and social basketcase…it’s going to get as bad if not worse than the 80’s. I’ll throw a wild figure out there…2014?

Smug factor: What’s to be smug about? I’m ok financially but this economic disaster doesn’t benefit anyone in the long run. Anyone who thinks they are immune from this is deluding themselves.
**
Where would I buy property? ** Brighton, Valencia or Santander


#210

Name: Fraggle

Age: Mid 30s female

Family status: Live with partner, baby & dogs

Occupation: Engineering

Housing status: Renting a house

AAM status: Read there sometimes…

Views on the property crash: I moved here in 2006 and was shocked about the property prices! Rented an old damp cottage in the middle of nowhere - with extremly “sloping” floorboards and LL wanted to sell that gaff for 200+k (but you’d get the respiratory problem for free of course - not kidding!) :imp: - GOOD LUCK! I thought prices will come down in 2010 but obviously the bubble burst sooner!

Timeline for the crash: I guess prices will decrease for the next 2 years followed by a price stagnation for a few years. Only guessing - I am no expert!

Smug factor: I am not smug really. Just can’t stand people who are too greedy on the cost of other people. What goes around comes around!

Where would I buy property? If I could have it my way: somewhere warm & sunny. In Ireland only if prices are finally affordable!


#211

Name: Cosmia

Age: 25

Housing status: Finished college and moved out of parents’ house last May, currently renting a ridiculously overpriced apartment that seemed to be fabulous value 7 months ago. :blush:

Views on the property crash: It has made me hopeful that one day I might be able to afford to buy which I certainly never thought a couple of years ago.

Timeline for the crash: I don’t know, just looking forward to finishing this lease and moving into a decent place for lower rent.


#212

Name: Johnny_Trotter

Age: 25 year old buachaill
**
Family status:** Married 7 months ago

Occupation: Customer Support - interesting* fact, my company was highlighted on TV3’s ‘How safe is your Job?’ special a few weeks ago :nin

  • May not be actually interesting

Housing status: Renting an apartment slap-bang in the city centre of Dublin, FTB buyer status safe in hand. The wife was pushing to buy about a year ago, but I pushed back, using the Pin as backup 8DD . Building up savings nicely now, the majority of which will probably go to a deposit.

AAM status: Brendan who? I’ve only gone then as a click-through from some links posted here. The place annoys me for a few reasons. The moderation is a bit ludicrous. I’ve also seen some of the horror stories and head-in-the-sand moments and it’s opened my eyes to the fact that I was one of the those ostriches until not so long ago.

Views on the property crash: Not sure what to make of it to be honest - along with the ol’ credit crunch. Part of me wants to revel in the glee of it, but part of me wonders, ‘where will it all end’?

Timeline for the crash: No eyed deer.

Smug factor: Ambivalent at the moment - sometimes I take some glee from reports of specuvestors falling on their faces - sometimes the tear-jerk stories pull at the heart-strings. I’m probably a bit young to think I’ve missed out on the boom, so i’m not all that smug in the bust.

Where would I buy property? I’d like to think that the North Dublin city coastline will fall in my price range in the coming months/years - Clontarf, Killester, Raheny, Sutton, and so on along the transport routes.


#213

Name: Valkstar

Age: 33

Family status: Married 3 months ago

Occupation: Assistant Accountant

Housing status: Living in a house owned by family for a small rent each month…saving hard to buy a house at a proper price in a year or two.

AAM status: Can’t stand the place. Had a look for info a long time ago and couldn’t believe some of the opinions on there. As for the mods :unamused:

Views on the property crash: All seems to going soooo quickly, but I’ve been telling people for the last couple of years not to buy. Thank God I took my own advice.

Timeline for the crash: Haven’t a notion.

Smug factor: Not really smug…more relieved that I stuck to my guns and didn’t buy when I was being pressured to by friends. One of these bought a house a year ago and must be in negative equity by now, but has her head in the sand.

Where would I buy property? Dublin…not more specific than that because I’m keeping an eye on the prices.


#214

Name: thebutcher

Age: early 20s

Occupation: IT

Housing status: With the parents

AAM status: Rarely ever there due to the “temporary” banning of house price speculation, known about the pin for ages, just never registered.

Views on the property crash: Brother informed me since 2005 but knew that house prices were insane and thought people were crazy to buy sheds for 300,000+ :open_mouth:

Timeline for the crash: On-going since mid 2006 and has picked up a good bit since late 2007. 2009+ will show more and more steady drops. 2014 (heres hoping) that it will be at a somewhat normal level.

Smug factor: I wish I could jump with glee if the bankers/builders/investors were seriously screwed and destroyed for what they have done to this country. And for the government = cancer which has ruined my generations chances.

Where would I buy property? …not sure yet, depends where I want to be in 6+ years time (and what state the country will be in)


#215

Cash King -

Age 36

Profession - Accountant

Status - sold apartment in late 07, did well…just in time it seems.

Am renting and very wary. Split savings between 4 banks back in Jan 08 once I realised there was only a 20K ECB guarantee. Not sure if the govt guarantee is worth anything…where WILL they get 400Bn Eur if hardy comes to hardy?


#216

Name:foodie

Age: 35

Occupation:Accountant

Housing Status: Renting, may buy in 2009 for the right price.

Views on the property crash: Sold my house in mid 2007 and stuck the cash in a number of banks. Could buy a similar house today for €100,000 cheaper than I sold for!!! Total house price falls from 2006 peak to be a minimum of 50%. I expect a japanese style long slow crash.

Smug factor: Happy to have made the right call, glad I don’t have a large mortgage to worry about.


#217

new guy just saying hi…


#218

I just noticed I passed the 500 mark. Its hard work .


#219

Name: snaglist

Age: 36

Occupation: Civil Servant–yes, I’m lucky enough to be one of those who is responsible for all the “current climate”
:stuck_out_tongue:
Location: North Dublin City

House buying status: Own two properties: one which I share with flatmates and one with my ex and our children. Yes, it is difficult and no I don’t know how much longer I can do it but it’s my problem and not for anyone else.

AAM status: Rarely read it anymore.

Timeline for crash: In the midst of it. It will go on for another 3-5 years minimum and then the economy will return with reasonable house prices (3-4 times salaries). For those of us who bought near the height but have no intention to move up any further on the property ladder, we’ll be fine but if you bought during the height of the bubble, it will probably be much more difficult with people not being able to move as opposed to choosing not to move.

Where to buy? I bought close to city centre since I don’t have a car but I’d avoid the commuter ring, shoeboxes, and any place that requires a mortgage of 6 times your income. Fortunately, those mortgage days are gone!


#220

Name: Stooge

Status: No Gaff, never thought of buying one because they cost a fortune. Now there’s empty ones everywhere around where I am down the sticks!

Kind of a doomer for last 10 years. Into the anti-globalisation protests back in the day when what’s happening here was happening in developing world and Argentina.

Lurked here for a long long time.

Many bearish members of the European community hang out at The European Tribune - I lurk and post ocassionally there about Ireland when I think something is of interest. They’re all talking about Ireland today and the Pinsters might have some insights to pass on to them.

eurotrib.com/?op=displaystor … 113437/798