Viewing Highly Recommended - The Introductions Thread


#161

Lets not lose the run of ourselves?

Hmmm. It’s a bit late for that.


#162

Name: Jess

Age: 26

House buying status: Just returned to Dublin and going to find somewhere to rent as soon as I can get off my ass and do something about it. Probably try to buy in the two yearsish.

AAM status: Read a bit on it, used to use www.moneysavingexpert.com which is the UK example and far more knowledgable and in depth. No comparison really, though the markets they cater to are very different.

View on the Irish property crash/Timeline: Think we’re getting there, 'nother year or so to run before it totally bottoms out. What happens at the bottom will depend on the economy/jobs situation.

Where would I buy: Depends on how my life is looking in two years. If it was today it would be somewhere in central Dublin, but only at the right price, which is probably a fairly large two bed apartment for under E250K, somewhere that’s not too loud and not in a skangery area.


#163

Name: kc

Age: Old enough to have spent the early 90s in London and learnt from the fallout.

House buying status: Bought a small 100-year old cottage in Portlaoise in 2003, more because of my partner’s need to have reasonable access to the rest of the country than because house prices are so much cheaper. Quite like the town, tbh, and though the commute is long, on the train /luas it’s door to door and stress free.

Have been v. bad with money in the past - sold twice in London and spent the proceeds rather than climbing the property ladder, so I’m watching myself like a hawk now. (Going back to college to do a Masters took care of a lot of it, in my defence). That said when the roof leaks, or I find another damp patch, or run out of wardrobe space, or disappear under an avalanche of kids’ toys, I feel like just saying to hell with it and grabbing a new semi. Then I have a look at a few of them and go back home and count my blessings - small mortgage, very large garden, 5 minute walk to train station, which means a lot as I don’t drive (all those years in London) and work in Dublin. Holding out now for the perfect family house. I’d really like to build my own if I don’t find the right house at the right price and either they open Laois up to blow-ins or I find a nice new job in Cork.

I love my little house really, and would like to keep it long term. It’s a ten-minute walk to the town centre, so I’m told it’s very rentable. I don’t see the point in trying to sell it now and pocketing the equity (ok, what equity?), because I don’t see it flying off the EA’s books in the current climate. I was considering an extension (which is why I haven’t fixed the roof yet), but am coming to the view that it would be a bad investment unless I wanted to live here for the forseeable future. The estate across the road is a bit of a nightmare, so when my two little girls are old enough to want a local social life, we have to be gone from here. There’s a regeneration plan, but that’s gone very quiet lately. I’m conflicted, I guess. Maybe you can help me out.

AAM status: never heard of it before I started coming here. Got rid of all my debt apart from mortgage all on my own (very proud). Savings are another matter entirely, but I’m working on it. Because my partner still has a mortgage with his ex, I’m on my own when it comes to housing the family. Looking on the bright side, that’s another factor that’s kept us out of trouble in the last couple of years. And I have to thank you all for keeping me on the straight and narrow too!

View on the Irish property crash: Bring it on!


#164

Name: blackdog

Age: 34

House buying status: Home owner since 2000. Lucky enough to have been in a position to pay off mortgage this year (bless you IT contracting). Happy to stay in current house but crash might allow upgrading to a D6 area (terenure/rathgar maybe). Have considered buying a holiday house (in ireland) over the last few years (more as a lifestyle/family investment rather than a purely financial one) but am obviously relieved now that I didn’t. May look at it again when a nice one near the coast can be got for less than 100k.

AAM status: occasional browser. Good for the info on current saving products.

View on an Irish property crash: Interested observer. Poor knowledge of economics and how the finance markets work in general so this site makes for great reading although don’t understand some of the technical stuff. At least now my kids may be able to afford to buy a home in 20 years time.

Timeline for crash: No idea.

Where would I buy property: Dublin, coastal area down south


#165

Name: comet

Age: 30

House buying status: Renting. Intending to buy within next 1-3 years, depending on how much prices come down and how much I can save up. I am truly appreciating the flexibility of renting at the moment, can and have shifted around as career and relationship status change, so think I will try not to buy now until properly settled!

AAM status: occasional lurker. Some useful savings info.

View on an Irish property crash: Obviously in my interest, I just hope it doesn’t take the rest of the economy down with it or cause too much pain. Those who bought in the past few years will get burnt, you may say they were silly but there was an awful lot of misinformation being put out there (although I know only one couple for whom I actually have sympathy, other peers bought mostly with parent’s money and will be fine so I’ll not cry too much). The first time I was in any financial position to buy property was early 2005, but even with being offering 100% and seven times salary, there was nothing worth buying. I’m afraid that natural prudence and despair at the prices kept me out rather than informed economic analysis of the bubble but I 've been lurking here a few months and have learnt an awful lot!

Timeline for crash: don’t know. It was findinga Morgan Kelly article on the internet that first got me interested in the economics behind bubbles, so following his logic, perhaps 3-4 years from now to bottom. ECB and credit crunch may speed things up (otherwise with the Irish attitude to property it would be a very long drawn out affair).

Where would I buy property: decent area within 25 minute cycle of O’Connell bridge. In dream world, in a lovely wooded valley beside the sea…


#166

Name: Edenrose03

Age: 30

House buying status: Renting at the moment. Sold Feb 08 had house since 03

AAM status: lurker, more frequent these days .compares the advise from here and from there. Thanks to the pin more able to breakdown there arguments

View on an Irish property crash: If I had never found this site I would still have my head in the clouds about house prices and so many other things. I feel it will be very drawn out, so many people have there heads in the cloud about houses and what they are really worth (Which is the vast majority of people). No one likes to make a loss especially on a house. Its to emotional for most people to think of it as a cold hard financial decision. That if you write it on paper the figures do not lie. I feel that until the media start shouting about house prices and the true cost of homes we will see a very long drawn out crash. Most people do not have the grasp to work it out themselves. Have got more of a education from the pin then all my years in school

Time line for crash: 4-6 years till we hit the bottom we have a very high amount of home ownership in this country and a lot of people will just stay where they are till they get what the house is worth and realise to late they have missed the boat

Where would I buy: The sunny South East


#167

Name: Rimbaud

Age 39

Occupation:Pharma

House buying status:Own a few

AAM Status: Life time ban,what a joke!only sycophants and saddos need post there.

Crash?.priced properly regardless of location,it will sell.

Where would I buy:Clontarf.


#168

Name: Punter.

Age: old enough to know better

House buying status: Current PPR is in the burbs of Dublin, which I bought in early 2006, having sold elsewhere in Dublin for in excess of twice what I paid for it 6 years earlier.

AAM status: Registered user. Good for direct questions but dreadful (sometimes crass) moderation policy. How a financial website in Ireland cannot discuss propert prices is beyond me.

View on Irish Property Crash: After I bought PPR I put all thoughts of house prices out of my mind but as now contemplating (see thread elsewhere in buy/sell/rent) a move to the South East, its very much on the agenda. Can’t get much out of AAM on the subject so have graduated to the (hopefully) great minds on Property Pin.

Where would I buy: Outside of a lotto win it will be the South East.


#169

Name: Penates

Age: 31

House buying status: Renting for the past 5 years…and will continue to do so until property in Ireland drops to an affordable level.

AAM status: Visited it once or twice. Opinion? Interesting to say the least…

View on Irish Property Crash: This site has really validated my own views and opinions on property (and the economy). The fact that people I know STILL feel that property values will turn around in the next 6 months scares me quite frankly (as does the type of crap spouted by the ‘Three Stooges’ Comical, Desparate and Smarty McBallsy himself). Maybe the ESRI report will change some minds on that…

Timeline for crash: Coupled with an economy set to implode I’m guessing 5 years. That will be the time it takes for the country to cop on and develop, as Sidewinder put it so well here and on Politics.ie, a value driven export economy. Knowledge Economy? We’re an Admin Economy at best now…it will take a LOT of effot to transform us to a pure Knowledge Economy…

Where would I buy?: Howth Hill…


#170

Name: Galway Skeptic

Age: 33

House buying status: Renting the same house in Galway since 2003. Getting married in October but I have the future missus onside as regards the housing situation (predicting the current bust has given me a certain credibility in these matters - thanks Pinsters!). Renting in Ireland sucks right enough, so I’m hoping the correction will be short and severe, putting us in a position to buy at a sensible price. Chance would be a fine thing I’d say though.

AAM status: Lurked a bit in the early days, the now infamous “future direction of Irish property” thread validated a lot of things which I’d figured out myself anyway (unlike some on here I don’t have a deep knowledge of economics, but you don’t need to to realise that people sleeping for a week in their cars to buy a shoebox off plan in the middle of nowhere is completely insane). Migrated onto the Pin pretty some time after that thread ended and haven’t been back to AAM since.

View on an Irish property crash: As I said, I don’t know that much about economics so much of the stuff on here has been revelatory. I’m currently oscillating between despair at Ireland ever sorting itself out and anger at the outrageous lies continually peddled by those in positions to influence public thinking on the crash and the fact that the banks and developers have sold a generation down the river to add a few more zeros to their balance sheet. Don’t know how Parlon, McLaughlin et al sleep at night to be honest.

Timeline for crash: No idea.

Where would I buy property: Galway. Urban or rural, we’re not sure yet.


#171

Name: Mercantilist

Sex: Male

House buying status: Renting. Even though renting is much cheaper than buying, Irish rents are still too high by international standards.

View on an Irish property crash: It didnt have to be this way. Specuvestors bid up the prices and ruined it for everyone. Fianna Fail let it happen.

Timeline for crash: Prices to continue falling through 2008. Major discounts on new developments this autumn 2008. Price stagnation from 2009 to 2012.


#172

Name: laverlescanards

Sex: Male

House buying status: Renting. Quite content for the moment until savings are adequate and prices are reasonable: as in you get what you are paying for!

AAM status: only came across it on this site. seems like a good place to go for advice but as ever never a substitute for gettin off you behind and doing some proper research.

View on an Irish property crash: Quite inevitable that is has come to this. Personally there is only one set of people responsible: you can blame the VIs, the devlopers, EAs, the foolishness and the greed of the individuals who bought into these pyramid schemes (not sure who i robbed this very adequate analogy from), but in the end its the BANKS. They have the power, they have abused it to an incredible degree and now ordinary people will pay the price. It makes me sick to think that this could all have been avoided had the banks behaved rationally and morally. Sure you can blame the government for not stamping their foot down but in the end, its the multi-million salaried individuals who run the banks that are repsonsible for ensuring that things dont get out of hand, that loans are not given to people who can pay them back, and that speculation is not allowed to be the dominant factor in what price i pay for a roof over my head. If an engineer says this building is safe, strong enough for its purpose etc, then he has to stand by this legally. Its no different with banks. They are the dodgy engineers who should face prosecution for allowing it to come to this.

Timeline for crash: Already in process; speed depends on whether goevenment try to stick their noses in or not. Otherwise can see people dipping their toes back into property in 3-4 years time. Saying that there are many many naive people out there who refuse to do basic research before tying themselves to massive loans, to the market could even tick along nicely for another year or two. Eventually it will stagnate…


#173

Name: Demurph

Age: 37

Sex: Male

House Buying Status: Renting and intend to continue doing so for next 2 - 3 years at least. Looking forward to rent review in october but already paying 700 less a month than a mortgage for the same place (sale agreed fell through last september) would have cost us.

View on Irish Property Crash: Not quite in the middle of it yet - expect a settling of around 50% down from the peak prices although an overshoot (undershoot?) of 10% is probable. As to who is to blame - FF, they sold any soul the had in the Galway Tent. Thats not dismissing individual responsibliity either though!

Timeline for Crash: Panic to Capitulation over the course of 2009 - Bottom of the market in 2010 followed by an unknown number of years of stagnation.

Where Would I Buy? Nside Dublin Coastline - Fairview through to Sutton.

AAM Status: Occasionally follow a link from the Pin


#174

Name: nobody

Age: 40

Occupation: Getting from the cradle to the grave.

House buying status: Spent the 90s in a wonderful hedonistic blur of bacchian wonder (drinking still do, its underrated.) sobered up for a spell in 2000 said WTF is going on the country is obsessed with genus panthera tigris and curtains! The economy had no driver at the wheel and the country was being run by the same old crooks. It was crass,disgusting, vacuous and I knew it would all end in tears. So I bought a few acres in 2000 that I use for veg and a cottage in 2001 with no heating or indoor plumbing and battened down the hatches to await the inevitable. Currently re-surfacing, even got running water indoor last year (only took 6 years). I do miss having to piss on the outside tap to thaw it out during the frosty snaps. Am considering fixing the place up (what are my chances of finding a contractor these days), although I have grown fond of the mice.

AAM status: To my detriment I never went there, sadly if I had I may have found my way here. Although they don’t sound as nice on AAM as The Pins mods… (does that get me one free glee )

View on an/the Irish property crash:
There may not be enough superlatives to cover it , avarice, inevitablility , criminality, irresponsibility, stupidity, dumb luck, misfortune,etc. Don’t worry people life goes on, your problems are overrated, its really only money.
Genuinely feel sorry for some people’s situation, I refused to take out an SSIA as a point of principle. I felt it was immoral to take a handout from the State given its underlying fundamentals were so unsound and so badly managed. Could never marry taking 1 in 5 euro from people who left others sleeping on a hospital trolley.
Genuine disgust and hatred to the pit of my soul for the VIs and also the other parties who should have known better but accommodated and facilitated this travesty.

Timeline for crash: Obviously in the midst of it all, Id have expected it earlier, guess there was no accounting for the vices that drove it. The hard landing crash will continue until 2010, and there will be no taking off again of this baby until at least 2022.

Where would I buy property: What an odd question for a site that’s a proponent of the pitfalls of this very thing. In any place whether village, town, city, country that supports the community and realizes that the economy is there to service society and not the other way around, society serving the economy which is the way things have run here in recent years. Now where’s that bottle of Wild Turkey.


#175

Name: Daze

Age: 34

House Buying Status: “Own” 3 bed in leafy South Dublin. Big mortgage.

View on Irish Property Crash: I blame de medja… and pushy parents.

Timeline for Crash: Denial (2007 - 2008) followed by Panic (2009 - 2010) followed by Humiliation and Distrust (2010 onwards)

Where Would I Buy? Nowhere right now.

AAM Status: No baggage on this one.


#176

Now that I have 100 posts to my name I think that I will add my info.

Name: ray, I should probably re-register with a new handle, it is amazing how popular the pin has become in circles that I travel and I’m a bit wary of posting some stuff as I might be recognised

Age: 30

House Buying Status: Renting at the moment. I’m single and feel no pressure to buy but once I think it makes sense I might take the plunge…

View on the crash: what crash, it’s ok I’m a long term investor, ireland is different, the fundamentls are sound, the knowledge economy will save us, doom mongers - the lot of ye. Seriously, it’s here and as far as I am concerned it is going to get a lot worse.

Timeline: Prices continue to fall up to end of 2009 and and then many years of price stagnation

Where would I buy: Dublin, I quite fancy someplace in D3.

**AAM status: **I don’t post but I visit sometimes. It was through AAM that I found the pin. The attempt to stifle debate about house prices falling was one of the most ludicrous efforts I have come across.


#177

House Buying Status: Bought a 4 bedroom detached house in Greystones in 1995, paid the mortgage off in 2001. We’re very happy where we are, and we’re not going anywhere. Fundamentally I don’t care what happens the Irish property market, hence I can afford to take a dispassionate,rational view. And I don’t, personally,care what happens mortgage interest rates.

View on the crash: I might buy a couple of properties at the trough. I suspect the trough will be 2010.

Timeline: Prices continue to fall up to end of 2010 and and then many years of price stagnation

Where would I buy: Nowhere in Ireland, at the moment.

AAM status: Read it, never registered.


#178

House Buying Status: Bought a 2 bedroom apartment in Tallaght in February 2007 throught the Affordable Housing Initiative.

View on the crash: Nervous about the effect on the economy. A lot of suffering on the way I think.

Timeline: Prices continue to fall up to end of 2010. Later if world goes into prolonged recession.

Where would I buy: Dublin on the Red LUAS Line.

AAM status: Read it, never registered.


#179

Name: CunningStunts

Age: 21

House Buying Status: Nowhere near that stage yet. Been lurking the Pin for about 4 months now. Offered €50 less per month than the asking price for a box room in an IFSC apartment today and got rebuffed so I’ve been inspired to sign up to vent my frustration. Gonna find somewhere decent and start saving like a lunatic.

View on the crash: Well under way.

Timeline: Probably drop between 20-25% nominal between now and 2010 with a long period of zero growth thereafter.

Where would I buy: Wouldn’t mind an IFSC penthouse for 350K. Unlikely mind. :laughing:

AAM status: Infrequent Browser


#180

Yeah… you’d be mad not to wait til it goes down to 200k :wink: