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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Tue Feb 14, 2017 9:53 pm 
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Private Tenant

Joined: Jun 22, 2016
Posts: 26
wii4miinow wrote:
My feeling is that we are on the verge now of Bubble Popping time.
In about 6 months, at the end of summer......We are peaking. Getting very close now to the top.


I used to be bearish but the reality of house hunting in Dublin over the last year has just smothered the bearish principles I used to have.
Judging from pre and post-Christmas viewings/bids around Killester/Raheny, I don't see any steam escaping any time soon.
If anything, I believe things are ramping up owing to:
- folk who've lost out in one bidding war, going into the next one with more gusto.
- that lovely bit of goal-post moving in regard to deposits required for FTBs.
- supply not not improving.

I check the property price register every week...recently some weeks results have made grim reading :(


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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Wed Feb 15, 2017 5:28 pm 
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Of Systemic Importance

Joined: Nov 4, 2011
Posts: 6049
Location: SthDub
No bubble says 'Industry leader'...and printed in the Irish Times no less. So thats that...time to sell up now !!!
The opening paragraphs are powerful and contain some bold statements/terminology which may make your blood boil!

A new property bubble will not happen, says industry leader
Opinion: Government policy cost first-time buyers while vulture funds profited
Pat Davitt, chief executive of IPAV, the Institute of Professional Auctioneers & Valuers
http://www.irishtimes.com/life-and-styl ... -1.2966534
Quote:
Fears of another property bubble are unfounded and misleading. Lately one senior academic stated in the media: “when you have a return to very generous credit, it effectively pushes prices significantly higher.”
But where is the evidence of a return to “very generous credit”? Figures compiled by the Banking & Payments Federation Ireland show that €3.9 billion in new mortgage lending was issued in 2014, less than half of what could be considered normal and a mere 10 per cent of that issued in 2006.
Lending in 2014 was on an upward trajectory because property prices had finally lifted off the floor and a seven-year Capital Gains Tax incentive, designed to encourage people to buy properties, was about to run out in December of that year.
Property prices fell, on average, by 54.9 per cent from 2007 to 2012. To reach 2006 levels again, not that anyone would want that, prices would have to increase by an average of 110 per cent, not the 8-20 per cent levels that now prompt headlines of “soaring”, “surging” or “bubble” property prices.
At a time when property prices were beginning to recover, having sank to 1980s levels, the Central Bank panicked and moved rapidly to restrict lending making it virtually impossible for first-time buyers and those wishing to move house – many who had bought at the height of the market – to buy when interest rates were and are at historical lows. Property prices are now well past the low point and thousands have missed the best values.
The rules stymied a market in recovery, robbed entrepreneurial confidence and spun the wheel of fortune in favour of cash buyers and investment funds.
Had it been otherwise we would now have a healthy cohort of young first-time buyers with valuable homes, contributing to their personal wealth over the longer term. Instead they are consigned largely to renting, and incredibly, at prices greater than the cost of servicing a mortgage. With such great value in the market these people should have been facilitated with a zero deposit requirement, once they had affordability over the medium- to long-term....


Bravo!


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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Mon Apr 03, 2017 2:46 pm 
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Too Big to Fail

Joined: Aug 8, 2008
Posts: 3637
Location: Cathair na dTreabh
Loads of property related stories in today's Indo including an opinion piece from Simon Coveney. Something stirring?
This is the editorial - property prices rising is good news.
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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Fri May 05, 2017 10:20 am 
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Too Big to Fail

Joined: Aug 8, 2008
Posts: 3637
Location: Cathair na dTreabh
The front page of The Corkman stirs
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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Wed May 17, 2017 2:30 pm 
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Under CAB Investigation

Joined: Jun 16, 2007
Posts: 2994
Location: Oighearland
from one of the biggest cheerleaders of the bubble, thought she had bought a house in 2007/2008?

D'arcy's sidekick

http://www.independent.ie/style/celebri ... 23829.html

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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Thu Jun 08, 2017 9:51 am 
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Too Big to Fail

Joined: Aug 8, 2008
Posts: 3637
Location: Cathair na dTreabh
Daily Mail screams
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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Thu Jun 08, 2017 10:20 am 
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Under CAB Investigation

Joined: May 2, 2008
Posts: 1613
Location: Ireland
temene wrote:
Daily Mail screams
Image


I wonder who these 'experts' are?


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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Thu Jun 08, 2017 10:25 am 
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Too Big to Fail
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Joined: Mar 7, 2012
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Location: Lovely Leitrim
greentree wrote:
I wonder who these 'experts' are?


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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Thu Jun 08, 2017 10:27 am 
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Too Big to Fail

Joined: Aug 8, 2008
Posts: 3637
Location: Cathair na dTreabh
You'll have to buy the paper to find out :)
Front page mentions
Dr John McCartney is Director of Savills Ireland Research. Having previously worked as a Statistician for the CSO and as Head of Research for Lisney, he has a wealth of experience in both commercial and residential markets. http://www.savills.ie/blog/author/168690/John-McCartney


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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Thu Jun 08, 2017 11:23 am 
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Nationalised

Joined: Oct 29, 2007
Posts: 11790
Location: Multiverse
If 10,000 new units were built in the city centre, you'd see prices & rents shoot down.
20,000 would probably collapse the market.

The rise in prices is due to supply being at an all-time low, not demand at an all-time high.
I think it would surprise people to see how quickly this demand could be satisfied.


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