Current public sentiment towards the housing market?

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CapitalCCC said:
Stop being personal.
I questioned a property bear going from calling a 40% property price fall by end of this year (I am a bear too but that statement stunned me), to calling a crash occuring in August 2007.

My question remains.
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yes , your question remains, maybe if you directed at the person that quoted it you might get an answer instead of using my posts out of context to say what exactly?

good day to you.
that concludes my posts today.
 
Ok, my 2 cent worth. I believe the property market cannot and will not sustain itself over next couple of years. I think the ecomony is a basket case, totally dependant on construction and it's offshoots. It is concievable that it could all fall down like a deck of cards.

As one of many who have an investment property in this country (I am sure David Mcwilliams has a name for me) I have started to think that if the banks are selling all their property then it's time to get out too. I like the saying that you only make a profit once it's banked so thats what I will do.
I believe there is still gains to be made in the market for another few months but I dont plan on trying to time the market any more than I am doing now.
Once the house goes on the market I will be sure to give you folks the definitive answer to what the Current public sentiment towards the housing market is!! Hopefully it will be positive for at least another month!!
 
The Punter said:
Once the house goes on the market I will be sure to give you folks the definitive answer to what the Current public sentiment towards the housing market is!! Hopefully it will be positive for at least another month!!
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Best of luck, there will still be a few saps who will keep purchasing for a while yet. Make sure you keep the forum updated with developments.
 
The Punter said:
Once the house goes on the market I will be sure to give you folks the definitive answer to what the Current public sentiment towards the housing market is!! Hopefully it will be positive for at least another month!!
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I believe you should get an early impression of the market when your EA views your property.
 
Just to add my 2 cent's worth.I was driving up to UCC in Cork a couple of days ago & there were tens of houses for sale in the traditional student areas,it was incredible.For me this implied,it is becoming a buyer's market & I think the worm is turning!
 
Does anybody else think that a certain "new homes agent" have too much power in the new homes market?

I wonder - does the Competition Authority take an interest in the property market?
 
Pat McArdle made an interesting statement in an sbpost article yesterday:

"The trick will be to manage supply so that an overhang of unsold houses does not materialise and generate a negative price spiral"

[broken link removed]

How exactly will supply be "managed" so that prices don't drop? I wonder what is the "trick"? This sounds like a very unusual statement coming from the chief economist at a lending institution. Is there a way to legally control supply in a market in order to keep prices high?

From the Competition Authority website homepage:

When does the Competition Authority take action?
"Anti-competitive behaviour occurs when firms agree to fix prices, limit output, divide business between them or abuse their market power, with no benefits to consumers"
http://www.tca.ie/
 
The Punter said:
EA's are still biggin' up the market which is expected.
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Agreed, however if you ask the right questions you can ascertain their views on the current market. (if they scratch their nose they are hiding something :) ) Have you made sufficient gains that you can offer a 'discount' (below asking price) to make a quick sale.

whathome said:
:

"The trick will be to manage supply so that an overhang of unsold houses does not materialise and generate a negative price spiral"
How exactly will supply be "managed" so that prices don't drop? I wonder what is the "trick"?
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He is merely refering to basic economics of supply and demand. However its as much use as closing the door after the horse has bolted. Supply cannot be restricted in the short term - unless i am missing something.
 
phoenix_n said:
Have you made sufficient gains that you can offer a 'discount' (below asking price) to make a quick sale.
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Presumably he will only consider such an action if the offers aren't coming in. Why would you tell the REA that you will accept a low offer? Does he need a quick sale? If you tell the REA that you'll accept a low price, then you will get a low price. They care more about quick turnaround than getting an extra €10k over the market value and will happily sell at a discount if they can do so quickly.

Despite much of the talk on this thread the market is not crashing. Its long term prospects are nothing short of dire but I wouldn't fool myself that there is anything other than an upward trend occuring at the moment.
 
whathome said:
Pat McArdle made an interesting statement in an sbpost article yesterday:

"The trick will be to manage supply so that an overhang of unsold houses does not materialise and generate a negative price spiral"

[broken link removed]

How exactly will supply be "managed" so that prices don't drop? I wonder what is the "trick"? This sounds like a very unusual statement coming from the chief economist at a lending institution. Is there a way to legally control supply in a market in order to keep prices high?
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I wanted to make that very same quote yesterday, but for some reason the sbpost site wasn't updated.

House price management me This post will be deleted if not edited to remove bad language! Last time I checked this was a free market economy.

The affordable housing scheme is the only card FF/PDs have left to get themselves out of this mess. And it's a low-ranking off-suit card at that
 
JohnnyBoy said:
Just to add my 2 cent's worth.I was driving up to UCC in Cork a couple of days ago & there were tens of houses for sale in the traditional student areas,it was incredible.For me this implied,it is becoming a buyer's market & I think the worm is turning!
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Did you get any pictures? I'd love to see some pictures of loads of apartments up for sale at the same time.
 
The Punter said:
Depends on what you classify as sufficient. :p :D
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room305 said:
Presumably he will only consider such an action if the offers aren't coming in. Why would you tell the REA that you will accept a low offer? Does he need a quick sale? If you tell the REA that you'll accept a low price, then you will get a low price. They care more about quick turnaround than getting an extra €10k over the market value and will happily sell at a discount if they can do so quickly..
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I believe that by his response that Punter may have made a sufficient gain that he may be willing to 'lose' 10K to realise that gain. But it depends on how you read the market. But you would want to be a very lucky investor indeed to time the market exactly right.
 
Hi Guys, just wondering if anyone has a link on the web to a 'Build calculator' for new houses. I don't mean 'rebuild' calculators as these tend to give estimates (via banks) for insurance purposes, therefore they're over inflated and aimed at contractor builds rather than sourcing the individual contractors yourself or via a project manager.

Any one take my meaning?

Cheers.
 
phoenix_n said:
I believe that by his response that Punter may have made a sufficient gain that he may be willing to 'lose' 10K to realise that gain. But it depends on how you read the market. But you would want to be a very lucky investor indeed to time the market exactly right.
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I would say there are very few people who haven't made sufficient gains in the last 4-5 years in property in Ireland. i agree with the guy who said that the market is still rising so I dont envisage having to sell at any kind of discount. obviously, if i dont get any takers I can afford to take a reduced price. My sentiment is that in the coming years this will be more likely to happen but not just yet.
 
The Punter said:
I would say there are very few people who haven't made sufficient gains in the last 4-5 years in property in Ireland. i agree with the guy who said that the market is still rising so I dont envisage having to sell at any kind of discount. obviously, if i dont get any takers I can afford to take a reduced price. My sentiment is that in the coming years this will be more likely to happen but not just yet.
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Not so sure if it still rising as the cost of debt has increased but won't know till autumn. But it may be interesting for others to read that above explains how prices can fall (slightly) as Punter has made gains of say 200-400 (guessing :)) and can i suppose take a hit of 10-50 without it having any effect. Lucky bugger. :)
 
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