New Property Boom - Don't let it happen!

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Savvy Row

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There's a golden rule! When banks make funds available to buyers, the people who actually profit, are the developers. The banks are about to issue "negative equity loans" so even people in negative equity can get their hands on money. Once this happens, the developers will up the price of houses so as to soak up every cent of that loan.

But (they tell us) it will be heavily regulated! (Where have I heard that before?)

If you think Ireland is in a bad state now, just wait 'till "Boom 2" kicks in.

It'll make the current crisis look like a teddy bears' picnic!
 
Markets boom , markets bust.

It's a never ending cycle that you can do nothing about.

For wall street it was only 7/8 years between the Dot-com crash and the current crash.
 
Do housing bubbles coincide with baby boomers coming to house buying average age?
 
Why should people in negative equity not be allowed to borrow? If they can make the repayments, why not?

Its been 4 years since the crash started, there are loads of families waiting to buy their home since then. Property will start selling again, but at what price?
 
Of course people in negative equity are entitled to Neg. Eq. loans if they can afford it. But that is a big if! And the real danger is that many people will be given these loans who can't afford them. The result? These people will be in even worse debt and the money floating around will push up house prices yet again.

The house prices are already too high - even with recent drops! Average house price in Dublin is still ten times the average annual wage and that is disgraceful. At the boom, buyers thought nothing of paying 20 times their annual wages - or even more.

Banks giving loans where they should not be given will start this whole stupid spiral start all over again.
 
the negative equity loans issue is discussed elsewhere.

The other issue is likely to conflict with our policy of not discussing house prices.
 
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