As another poster in another thread said...The trick is wait until the Irish market spends 10 years falling and then buy, hoping to catch the exponential growth.
Timing the market is a M_ _ S G _ M _.
Now I'm not stupid, I know Irish house prices are (were) higher than 10, 20, 30 years ago but I can't find any statistics to proove that they beat inflation. Do you have access to a house price index which charts Irish house prices over the last, 50 years, say? Here's the [broken link removed]statistics.
To my uneducated eyes I would suspect that Irish property prices didn't beat inflation in the 20 year period between 1971 and 1991. I'd certainly put my hands up and say I'm wrong if you could just point me in the direction those house prices stats.
1971 average price for 3 bed semi in Ireland c.4,500 punt 1991 45,000 punt,(may not be 100% correct,but close to the mark)
In past years I don't think that investors could write off (all or any of?) the mortgage interest against rental income
Do you have a source?1971 average price for 3 bed semi in Ireland c.4,500 punt 1991 45,000 punt,(may not be 100% correct,but close to the mark)
1971 average price for 3 bed semi in Ireland c.4,500 punt 1991 45,000 punt,(may not be 100% correct,but close to the mark)
Ah - OK. My mistake.This isn't correct, apart from the 1998-2001 period following the 1998 Bacon report.
no source sorry,but the example is realDo you have a source?
is it possible that 1971-1991 was a better time to own investment property?
Banks were notoriously reluctant to give credit to anyone to buy property, even their own home - not exactly a great sign that there was money to be made in the sector.
One example can't really be used as the basis for a rational argument. Property prices didn't beat inflation between 1971 and 1991, the price of one property did. That's a poor argument for saying that property always beats inflation.no source sorry,but the example is real
property prices have a long history of beating inflation over any 5-10 year period
Um, you did say any 5-10 year period did you not?check your charts again and you will find exponential growth the following years thus property stays ahead of inflation,always remember that property is a long term investment
Um, you did say any 5-10 year period did you not?
I gave you the benefit of the doubt and picked a 10 year period.
Your statement is demonstrably false. Please withdraw or qualify it.
It's not actually based on fact though is it? It would be more accurate to call it misinformation.Its usefull information as a guide,you are spliting hairs
Irish house prices 1971 to 2005 adjusted for inflation.
http://www.flickr.com/photos/rosscads/455270545/
I'm still waiting to hear why Ireland is different
It's not actually based on fact though is it? It would be more accurate to call it misinformation.
...the kind of misinformation that fooled a lot of amateur property investors into thinking they were tycoons, which brings us neatly back to the "surprising" nightmare scenario outlined by the OP...
No he said that house prices always beat inflation in any 5-10 year period.Did he not say it was a 'real' example?
We are not debating inflation and statistics, we are assessing the effects of inflation on an investment sum and whether property in any given period of 5-10 years will preserve that investment sum against inflation. Please read previous posts before replying.While I'm not going to stray into debating inflation and statistics the above quote is quite a regular occurence albeit generally in differnet words, but having the same meaning.
That's an insulting remark to aim at those who are trying to prevent further misinformation being spread about the risk/reward evaluation of property as an investment.Are some people just upset that they didn't jump on board the bandwagon at the time and make some easy money or do they really believe that those that invested in property were 'amateurs' pretty much fools for some reason.
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