Breathtaking stuff ! For under €300k euro 
E300K will buy you alot of house if you go to the right corners of Ireland.
I wonder how many of these would fit into one of those?
daft.ie/searchsale.daft?id=449539&search=1
https://mediacache-s3eu.daft.ie/YyBIN8nCBHUTSadj8OO7QM4EqbRsxW1dDfK0VDDAfiltPWRhZnQmaD00NTA=.jpg
An American friend of mine moved back to Georgia (Few miles outside Atlanta) 2 years ago. He sold his 4 bedroom house in London and bought a much nicer place twice the size, for just over a quarter of the price. I went over there last summer and I was very very envious. He lives in a gorgeous community (reminded me a bit of desperate h/wives) close to a large lake (jet-ski!), golf course, tennis courts etc all within reasonable walking distance. He has a 30min drive to work which is the only downside, but its all a straight road with no traffic. It was a trip that really put things into perspective!
that house in Atlanta is a cracking deal for someone who has a reason to live there. converts to a little over 300k euros. Bespoke living with garage , hot tub , huge master bedroom , extra large glazing on 13 acres. How did we ever get to the point where a 1 bed 35m2 redbrick sh*thole was worth more. The Yanks have adjusted RAPIDLY . irish con artists PLEASE TAKE NOTE
Answer:Virtual zero interest rates.
THe simple fact is that these prices in America,four five bed mansions for a few hundred tousand dollars won’t last.At the zero interest rates in the US the prices will rise stratospherically,just like they did in Ireland,Spain England etc etc.Pricing anaomalies never last for long.Zeo interest rates caused the European bubble and it is now pausing before entering its next phase.
Nature abhors a vacuum and zero interest rates is a perfect vacuum sucking in money to raise property prices,which will correct the vacuum and restore the balance.
American property was always a good bit more reasonably priced than here. Yeah they had a bubble but no where near ours in my understanding. I don’t think the 0% interest rate is going to have much effect. There has been a shift in mindset, and everyone has had their fingers burned. And the average person is not going to get a mortgage at 0%. And the worst is still to come 
Of course the repayment rate is never the central bank rate,it’s all relative to where interest rates were.Buying a house is going to be made so cheap that anyone with a job no matter how badly paid is going to be a no brainer.If you think that house prices,commodities,equities will fall with zero interest rates OK thats your call,but you will be going against every known law of economics and human nature to boot, good luck!
don’t forget property taxes, it’s the first thing that buyers factor in after the asking price. you don’t hear it mentioned much because over there it’s a given whereas here we have members of government who previous advised people how to avoid any tax. this place is bonkers. it’s like some cult that happens to also be a country.
I know cat bear, but you have to really take into consideration what drives financial markets,and that is always fear and greed.The flight out of cash now is only to be expected,no interest every year for the near future and also the effect of inflation forcing peoplwe with cash to seek out higher returns i.e higher risk or face the inevitable destruction of their savings by inflation if they don’t.
Put quite simply,play the Wall St game or lose your entire stake,if you choose not to play the housing/equity game the people who control the system will punish you to the point of financial extinction.
It really is that simple.Anyone who thinks that the economy/housing market is going to return to normality is living in dreamland.The Greenspan put is still in place.Anyone betting against the Federal Reserve is doomed to failure.Just watch the following documentary,if at the end of it you think the system is going to change,great go for it,but I am really losing the will to keep posting the same stuff here on the pin,in future I am going to restrict my posts to what I consider to be relative or entertaining to other pinsters.There is a point where you really have to ask yourself if there is a point going against the stupidity and the greed of the general populace.
And has that occurred in Japan since their ZIRP? My understanding was that house prices continued to decline. Why do you think it will be different in the US (and, presumably, here)?
Professori, myself, I think that I understand what you’re trying to say. And you may be right. But, also, predicting the future is not an exact science. There are so many variables. Sure, you can focus on the ones that you think are of most influence and importance. But, what often happens is as per chaos theory - the butterfly flaps its wings and causes a storm on the other side of the world… Aside from the fact that there are so many genuinely important variables that may be overlooked or forgotten about, for reasons ranging from their not quite fitting one’s preferred theories, to their having been hidden from people in one way or other… I for one am on the look out for that butterfly to flap its wings before I put my chips down.
Interest rates may be zero, but Mortgage rates are no-where close. In the US, they are about 5% for a standard 30 year fixed. Lets not forget people in the US take out long dated fixed rate mortgages. Even in Ireland banks have increased their margin on new loans just as the ECB cuts
Further, ydays sharp sell-off in 10yr+ Treasurys post the UK AAA warning just shows what a fine line govts are playing.
On the one hand, the US slashes Fed Funds to zero, prints money to buy up Mortgages and Tsys (to try keep 30yr Mortgage rates down), throw a Trillion more at the system etc…On the other hand, you take this too far and it eventually impacts the credibility of their AAA rating and Tsy yields rise, taking back all the effects of QE etc. Coz If Tsy yields rise, mortgage rates will also
Its a bit like any public company. Anyone will tell you that you can increase ROE by increasing your debts…But only up to a point, beyond which leads to disaster
The authroities have probably gone too far already and Geithners comments y’day imply they may have started to wake up.
Its pretty simple. Authorities can influence the shortest interest rate, but they eventually lose control of the “risk premium” if they become reckless. Fed funds, Base rate, ECB can all go to zero, but the spread between that rate and the yield on an asset with any risk just grows. The spread between 30yr Tsys and Fed Funds is close to its 30 year high. Corporate bond yields are still much higher than where they were 2 years ago.
Watch what happens if 30 year Treasury yields break 6.5%. People will really begin to question why they are accepting puny yields on assets that have risk when the can have something risk-free at 6.5%
The argument that the authorities wil just inflate house prices back upwards (Zimbabwe style) despite incomes falling and unemployment skyrocketing is a pipe-dream.