Will the Dublin property market crash ??

Ahh...I see. Fair enough so.

For what it's worth I was a ftb last year and my house cost €325k. I was willing to go the extra mile because I thought the property was worth it...but perhaps I'm the exception and not the rule.
 
Dublin Property crash

onekeano - Roy the link is on Property Investment under the heading of The Great House Price Crash 2005? (TV Programme)
 
Re: Yes

The irish property market is most definitely in bubble territory and will burst. actually, there is a global bubble in property prices and a sharp correction will take place in the next 1 - 3 years.
I lived thru and witnessed first hand the UK property crash. It was also a bubble and it was amazing how fast prices turned south once the bubble was burst.
Fundamentally you have the supply/demand balance being corrected over time with the massive building of houses and apartments over the last number of years. all you have to do is drive around dublin and look at the apartments being constructed. they are popping up everywhere. who is going to buy them all ?? interest rates are rising and will rise further. there are a notable increase in the for sale signs showing up all over the city. in my own estate there 6 houses have been put on the market in the last 4 weeks. rents are falling. as a multiple of average earnings houses are now at there most expensive ever in ireland and are also the most expensive in the world using this metric. the banks, solicitors and estate agents are all biased. be a skeptic and form your own opinion. caveat emptor....
 
Re: Yes

I heard Dan McLoughlin on the radio saying that price rises will now only be about 6% a year. When pressed about the possibility of a crash he said that house prices would only fall if unemployment were to rise significantly, in this I think he is correct. However I also think a rise in unemployment is very likely now due to rising oil prices. The more oil prices rise the more companies will be forced to cut costs in other areas. The fate of the housing market will be determined by what happens oil.
 
re

From reading all the bible bursting posts on AAM over time there always appears to be one particular facet that people believe will cause the bubble to burst. Oh it'll be because of this...oh it'll be oil etc...etc...

And then there's the infamous it'll happen in the next year, two years, three years predictions! It's a wonder these predictors don't look back over the last ten or so years at all the people who said exactly the same thing!!

If I'm still floating around here in ten years I wonder will there be new people saying the same thing?
 
dan 'rose tinted glasses/perma bull' mc laughlin

d mc g has to be the most bank biased economist i have ever come accross. i have NEVER EVER read a negative article by him. A negative economic report comes out from another source, d mc g slates the report and takes the opposite opinion (always bullish). it is very obvious he is a bank employee/economist and I would not pay too much attention to his bull waffle. be a sceptic and form your own opinions !
 
Re: Will the market crash ??

I don't wish to sound patronising and I feel sorry for first time buyers who only wish to buy a house to live in. The problem with the housing market for the last while is that so many people have got into it ,not for a house to live in, but as a sure fire way of making money. I think this is the first time this has happened property on this scale. Traditionally property was regarded as a slow stable investment but not one that you were going to double your investment in a couple of years. So the property market is now acting like the stock market but people are not put out because of its traditional reputation as being a slow steady investment. The real culprits in this sorry saga are the banks, in the past they would never have allowed this to occur. Their greed has blinded them to the consequences not just for their customers but also for themselves. I believe if this bubble bursts some banks will go under.
 
..banks will go under.

Sure about that.Especially when the home buying mass finds out that their homes are NOT build according to the building regulations,therefore they have no retail/mortgage value!
Read the "Construct Ireland" magazine .The latest issue no.8 page 40-60.It details that the houses build in the last couple of years do not comply with building regulations part L and are therefore-that is my opinion-erected illegally.
Is any informed person from the legal profession out here who could give us a hint:Is a house that had been build as a "home" erected illegally when it is obvious that the builder did not fulfill the planning permission ? Explicit to comply with the building regulations?
 
Re: dan 'rose tinted glasses/perma bull' mc laughlin

>be a sceptic and form your own opinions

This sounds an awful lot like, believe what I believe or you're not thinking for yourself, to be honest.
 
banks

On the BBC news it said that BoI will be letting go 2,000 jobs.
 
BoI see the light !

Employment growth may be on the up, according to BoI chief economist Dan Mc Guffingagin

Why Dan Mc Guffingagin cannot see a shrinkage of 20% in his own enterprise , or explain the reason why, is beyond me :(

Would it be because the pipeline for high spread mortgages has tightened and narrowed dramatically in past months and with it turnover growth prospects Dan ?
 
Just heard an AIB economist on RTE radio talking about housing market having a "slow landing" with price increases going down to 5% this year and 3% per annum over the next 18 months.
 
David Smith has said pretty much the same thing (in the Sunday Times and in the BBC article above) about the UK property market. Saying that the Irish property market will 'definitely' crash is IMHO an unfounded opinion, it would be better to talk in terms of likely outcomes instead of definite outcomes.
 
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