House Prices

M

Mary

Guest
In the building industry, why shouldn't Ukrainians, Latvians etc be allowed to set up their own businesses or work as self employed persons so they can bring much welcome competition to the building industry.

They work for a third of the cost of a paddy Irish man. Let them out there and let them undercut the greedy Irish.

At the moment these poor unfortunates are working on sites for developers and contractors who are simply making huge profits at their and our expense.

Houses are just not worth their asking price. Tot it up for yourself.

Next time you visit a showhouse try and calculate the true profit these contractors and developers are making.

They are not putting any of these profits back into the community. No money back for infrastructure. Bord Pleanala how are you?

Money that they flaunt by driving around in even bigger now becoming quite vulgar 03, 4x4's that can barely fit on the width of the road not to mention in a parking space with fog lights illuminated at all corners making them look more like a christmas tree.

Can't anyone see this simple fact. When it comes to property are we all gone stark raving mad in this country? We are just accepting it. The prices will never fall because those whose livelihood depends on it says so.

I say let the government introduce much needed competition in this field. Bring in the Latvians, the Ukranians, the N Irish....
 
Mary

Not sure what your issue is. What is stopping latvians, Ukranians and indeed anyone from setting themselves up as a builder, buying some land, seeking planning permission and building houses on that land?

C
 
The law. Immigrant workers or non-refugee status asylum seekers are generally prohibited from becoming self-employed or operating businesses on their own account
 
it's great isn't it. we don't want any enterprising immigrants
coming to the country.
 
If most first time buyers stopped and actually thought about the level of debt they were undertaking and factored in interest rate rises most would actually think twice about buying, the problem is there is an artificial stigma of "buy now or you will never be able to buy" the banks and builders have advertising campains running in local papers trying to pull the wool over the poor first time buyer and thus creating the first time buyer to panic buy, this keeps prices increasing :\
 
"we don't want any enterprising immigrants
coming to the country."
Enterprising or not, I would like to know where they are all coming from. The country is awash with non nationals.
Every town and village has changed drastically,( maybe for the best) but I am worried about the numbers. Are there any controls in place??
Red
 
Enterprising Immigrants

Personally I've no problem with immigration so long as it's properly handled and we're not just seen as a soft touch for dole, council housing (or BnBs) etc.

Having said that I think we'd have to be careful that criminal money (foreign money that is) wasn't being to fund such enterprises.

My 2C,

CGAN.
 
Building

I bet if you used legitimite non national labour when building your house you could save at least 40% on construction costs.
 
Great to see we are not all mad

For my brother and his partners sake I hope the great crash happens soon so they can afford a home of their own and get out of renting.

Thank you reality for that reality check.
 
Bang, bang ..

Its gonna happen this time, the property boom is just a slow motion dot-com boom, only the hangover last 30 years... luckily I'm not hampered with a mortgage, and I can have a (good) life, and lots of fun ! Rents are creep down and the smart ones rent, its too late to get into brick and debt now.
 
.

Well my mortgage is now much cheaper than what my rent was. Plus I get to keep the house at the end of it.

I can also have a good life.
 
So you want to see the entire country in ruins so your relations can get a cheap house? HMMM making alot of sense. A colapse invisaged by peter and reality will affect everyone in the country, because I think unemployment will be the ultimate cause of such a crash. So peter if your relations are unemployed then they won't get a house either. I too am substantialy better off with a mortgage in place of rent, if interest rates go up then I can handle it, if my property value goes down I wont care because its my familly home but if I loose my job I'm in trouble because I can't repay my mortgage (well after a year, but I'd work at anything to pay the bills). The smart people don't buy property now with a view to making quick, large profit, they buy because it suits them and they are well advised as to the risks. We are adults after all. You should not be wasting your time wishing for house crashes and subsequently a national crisis, you should be wishing for house prices to stay the same, interest rates to stay the same, inflation to drop and for job prospescts to improve (well miracles do happen).
 
So how much is a new house presently selling for €265000 really worth. You tell me.
 
ask and thy shall recieve

So it appears miracles do happen, well in installments anyway. The amount of people on the dole has dropped by 15,000. Its largest drop in 3 years.

That aside, peter what your brother needs to do is approach a broker or lending institute and ask them what is needed from him to get a mortgage. In my experience mortgage advisors or bank managers are only to happy to help, after all its how they earn their bread and water ;) . If a deposit is the problem then they need to look at a way of saving, again the lending broker or manager will give advice (I know of plenty of friends and colleagues who lived on one wage and saved the other, hard yes, but how badly do they want to buy a house?).

I have only just moved into a house and it was a long, tedious, nerve racking experience from the initial 2k deposit to the switching on of electricity (more exciting than getting keys in my opinion :) ). Only the very few fortunate people find it easy to buy a house (presuming your brother wants to buy a home and not an investment) and that goes back to our parents and our grandparents (most of grandparents never owned their own homes). Moving/buying a house is not known as the most stressful of times in a persons life for noting.

Owning a home sadly is not a right. Should it be? Well only putting pressure on your local TD can change that. Is it good value to spend so much on a house? This is a very personal issue. What are you paying in rent? Do you have a family? And finaly, location, location, location. Where do you want to live? Would you sacrafice on standard of home or location of home?
 
Re: ask and thy shall recieve

So how much is a new house presently selling for €265000 really worth. You tell me.
Click to expand...
Hi Peter- It is worth as much as a buyer is prepared to pay for it!
 
Re: ask and thy shall recieve

Thank you SUE for a very informative piece.

Rainyday, I thought the buyer doesn't actually own the property until they have paid back their loan in full? But we all know its not the lender who is taking the risk.

I dont believe lenders can successfully stress test a persons ability to maintain comfortable repayments when they cant accurately predict whats going to happen next week let alone the 25, 30 or even 40 year term of the loan.

Madam Zing clairvoyant down at Bray amusements concurs with this stress test and predicts that over the next 40 years the interest rates are going to remain as low as they are now. She also said over the next 25 years the tec employment bubble by which this country is held by the short and curlies wont burst, there will be no stock market crashes, the EU certainly wont fall out with the US on any issues ensuring continued employment. She predicted house prices will continue to rise. A drunk on the street later told me Madam Zing's husband is a bank manager. I went back for a refund but she was closed due to unforseen circumstances.

Are we all this blind or have some of us woken up.

The developers are making huge profits fueled by fear from unfortunates who think they will never get on the ladder unless they move quickly.

I think I'll go with the doom mongering Economist side of the argument. Its more plausible.
 
Re: ask and thy shall recieve

But we all know its not the lender who is taking the risk.
Click to expand...
Actually, no - they don't. Why do you think the banks limit themselves to 90% or 92% of the loan? So that they have a nice comfortable margin of error that protects themselves.
 
Re: ask and thy shall recieve

Quote "And finaly,
location, location, location. Where do you want to live? Would you sacrafice on standard of home or location of home? "

My 2c on this. We moved into a bigger house a few years ago for the same money we had a small house for in Dublin, we needed the bigger house and moved 20 miles outside the M50 belt. All very well when the mortgage is small and you have what you need, but do take it in the longer term context of things, the commute is a pain and does grind people down, into a decision to move back and trade up in mortgage and well as down in house size. If we had stayed where we were the mortgage would have paid nearly 2 years ago and started to save for that all important music room (not allowed into the living room, ball'n'chain rules)

I do appreciaite that a FTB has no option but to go further out (than even we did), but as long as they realise this and make it a 2 or 3 year plan. Some of us just done settle well....

Stobear
 
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