We need to get beyond worrying about whether it will damage the property market and recognise that it was the property market which damaged our economy in the first place.
No access to capital. Banks have clammed up. Also most people believe houses will continue to fall in price for a while, and there is no point in taking risk at this point in time. Some may be considering leaving the country if they work in areas where their jobs are at risk.Well amazingly enough the people who are currently renting are not buying even though they are no longer priced out of the market. Why do you think that is?
Makes no sense whatsoever
The various think tanks all say there is a shortage of skilled science & technology graduates in the country. Look at any of the multinationals - how many recruits do they have to source from abroad?to my knowledge there has been a steady growth in 3rd level take up
But can these qualification be used to generate exportable products?the construction sector actually requires 3rd level education for many areas.
Huge sums of money that house buyers had to borrow to - which will have to be paid back for the next 20/30 years.What we have seen is tradesmen making huge sums of money which is great for them and they have also pumped alot of it back into the economy through greater spending habits etc.
And what about the possibility that even if they got a mortgage that interest rates rising are making it impossible for them to afford the repayments plus the possibility that rates may go higher and they may lose their jobs.No access to capital. Banks have clammed up. Also most people believe houses will continue to fall in price for a while, and there is no point in taking risk at this point in time. Some may be considering leaving the country if they work in areas where their jobs are at risk.
And what about the possibility that even if they got a mortgage that interest rates rising are making it impossible for them to afford the repayments plus the possibility that rates may go higher and they may lose their jobs.
As everything is so positive one should go out now and buy that dream house and interest rates will probably go down and sure the property is bound to rise in the long term and your salary is going up in any case, and if you don't have the money for the furniture you can buy it on credit, and you can buy that brand new lexus on HP. Would you prefer it this way MrMan, I do believe that's why a lot of people are in a mess right now and with no way out. The negative and the positives should have been pointed out to people not just the positives. A property tax right now would only make things worse.and the sky might fall. Why are all the what ifs so negative?
As everything is so positive one should go out now and buy that dream house and interest rates will probably go down and sure the property is bound to rise in the long term and your salary is going up in any case, and if you don't have the money for the furniture you can buy it on credit, and you can buy that brand new lexus on HP. Would you prefer it this way MrMan, I do believe that's why a lot of people are in a mess right now and with no way out. The negative and the positives should have been pointed out to people not just the positives. A property tax right now would only make things worse.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?