Dublin property prices falling by €4,500 a month

[feargach]

I don't see the need for the state to underwrite the losses of buy-to-let specuvestors any more than they should be underwriting the losses of large developers.

Love that word.

[feargach]

Should I look forward to the PDs introducing a new bill regarding tenant rights, then?

That seems so likely to me, I shall happily hold my breath until it happens.

[Kevin Doyle]

A house in the Tenters Area Behind the old JP factory was put on the market for €800,000 (Edwardian redbricks and where nearly impossible to get last year).

The asking price as of today on Myhome has dropped nearly 9.5% to €725,000 and is still on the market. A house in this area would not have even got onto daft or myhome this time last year and would have sparked a bidding war.

This is proof positive if any was needed that the bubble has burst

I wont give a link. I know a lot of people in the area.
But its not too hard to find.

[Johnny]

A house in the Tenters Area Behind the old JP factory was put on the market for €800,000 (Edwardian redbricks and where nearly impossible to get last year).

The asking price as of today on Myhome has dropped nearly 9.5% to €725,000 and is still on the market. A house in this area would not have even got onto daft or myhome this time last year and would have sparked a bidding war.

This is proof positive if any was needed that the bubble has burst

I wont give a link. I know a lot of people in the area.
But its not too hard to find.

Presumably this is it???

[Kevin Doyle]

Presumably this is it???

Nope, Obviously a North Cider Johnny : )

Lauderdale Terrace isnt behind The JP factory on the SCR. But interesting that the price is the same. Must be coming down equally within the canals, especially given that Lauderdale is closer to town.

[Johnny]

Presumably this is it???

Nope, Obviously a North Cider Johnny : )

*shudder*, no way, man!

Lauderdale Terrace isnt behind The JP factory on the SCR. But interesting that the price is the same. Must be coming down equally within the canals, especially given that Lauderdale is closer to town.

The fact that it's closer to town is even more significant.

[rockofcashel]

This Government will try to buy its way out of the housing crisis by purchasing houses from the developers ..

They are doing it already ..

In Cashel the council have already bought brand new houses for people on the waiting list, and are considering buying more in the near future.

1. Do the Council in Cashel take orders from the government?
I mean, I wouldn't put it past this government to shovel money into the private residential housing market to prop it up, but I don't think that's what's happening when various Councils, off their own bat, decide to buy houses.

2. Do other parties actually oppose the purchase of these houses? And does anyone suggesting some sort of market-timing bar on councils buying houses really think that's politically viable?

Would you think that buying housing at the top of the market is an economically sound practice ?

[Kevin Doyle]

Someone mentioned that a massive job layoff could be the catalyst that triggers a collapse in the Property Market (think it was Skinner...apols if it wasn't)

I wonder could the announcement of Pfizer this morning be the first in the house of cards to crumble.

Not to mention the opposition bawling Ahern and demanding a sit down with the CEO's of all the Multi-Nationals in the country to scope out their short to medium plans.

All the factors that triggered collapses elsewhere are coming into play here.

Honestly I think this whole 'Celtic Tiger' was just running wild all along with FF/PDs hanging onto its tail for dear life.
Just watch as this becomes a crisis, and their crisis management skills (or severe lack of) further expose the cluelessness and utter incompetence of practically every single cabinet minister.

[Sidewinder]

ECB leaves rate at 3.5% as expected, but Trichet says "strong vigilence" required, the monetary stance remains "still accomodative" and interest rates are still "low", liquidity is "more than ample", so inflation risks are significant and inflation is expected to rise in the second half of 07 and into the longer term. Wage pressures seen as significant and he calls for restraint by social partners. M3 "vigorous" growth at 9.7% in December, 10% rise in private-sector credit.

So a 0.25% rise in March is now certain, and pretty certain for further ECB rises from the summer on.

[ryano]

1. Do the Council in Cashel take orders from the government?

If they're anything like any other local authority then yes they do.