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About LinkBacksNot a record for sure. But it will put extra pressure on the disposal incomes of the hundred's of thousands who commute to work daily and have no option but to pay i.e. not good news for the economy.Originally Posted by hiding behind a poster
Not a record for sure. But it will put extra pressure on the disposal incomes of the hundred's of thousands who commute to work daily and have no option but to pay i.e. not good news for the economy.
just ignore mary, she has one of the worst cases of verbal diaorroea ever seen,
I never said it wouldn't.
"Elite - a small superior group; esp one that has a power out of proportion to its size." (Oxford English Dictionary)
The majority cannot therefore be the elite.
They do form a large chunk, I have no hard figures but it must certainly be 50,000 and maybe as much as 100,000 units + all the derelict homes are included in the 340,000 figure, again there must be at least 25,000 of those, given we have 100,000 farms, not to mention whatever is in the cities. In a normal market with no over supply we would have about 130,000 vacant units for sale, that figure + holiday homes + derelict houses comes to somewhere between 200 to 250,000 units, leaving us with 90 to 140,000 units over supply.
no pasaran!
No revival yet, or anything like it.
But the sky has not, despite all of the ranting on this site, fallen in and the further away we move from 2008 the less likely that is to happen.
It seems as if people want to exclude holiday homes from the over supply of property calculations. I dont believe they all should. Fair enough some of them are vacant and have been owned for years with relatively low mortgages or no mortgages at all.
The problem is a lot of Dublin people remortgaged their Dublin property to free up equity to invest in property in Wexford etc.
These holiday homes were fine when house prices were increasing 10% pa, easy enough to justify the payment of the mortgage. Now this mortgage needs to be financed out of disposable income + a few weeks rent in the Summer.
These properties are in fact available for sale. Unfortunately there are NO BUYERS in the market for holiday homes or first time buyers looking to live in Arklow, Gorey, Rosslare etc............
Absolutely unless you are one of those that lost a high paid job and are now making ends meet on the social welfare.
You have to consider that 250,000 people have lost their jobs. A lot of these people were never redundant previously.
That's the point. One thing feeds into another. You don't get negative equity until unemployment reaches ten per cent or so. That's what happened in England. (BTW - just when you thought things couldn't get any worse - I've a eerie sense George Lee will shortly inflict another book).
You should listen to my bias, not the other side’s bias.
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