Dublin property prices falling by €4,500 a month

[EvotingMachine0197]

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The argument for a 'soft landing' is a tissue of lies. All this ************************e of 'talking ourselves into a crash' is a desperate attempt to shift the blame for the disaster that is the Irish Property Market.

Yep. Strong confidence remains for a while after the market has being undermined / damaged beyond repair.
I think someone compared it to the roadrunner effect - the psyche remains confident after the ground disappears, a sort of latent confidence.

Enter the external signals: ECB, Dollar, Oil, Inflation, etc. and confidence springs leaks, then floods.
Chattering negatively about the market at this stage is really just the fat lady singing. The show is already over, and the show-meisters have gone to ground.

At this stage, I think it is completely ignorant and irresponsible of anybody who is paid to be an economist/ mortgage dealer, to try and tell us everything is grand and that the nay-sayers will destroy the status quo.

They should go and sell rope to someone on death row.

[kerrynorth]

I have heard at least twice in the last few days from the vested interest commentators on the property market that everything will be OK if people would just "hold their nerve"!

I would really love someone to explain to me what part 'holding your nerve' has to play in the economic fundamentals are strong argument trumpted by the vested interests. Can you measure 'holding your nerve' as a proportion of the fundamentals underlining the strength of the property market? Of course not. The holes are well and truly showing in the arguments of the vested interests!

Also Joe Duffy had people on this afternoon with their tale of woes. People with 2 mortgages because they cannot shift their old house prior to completing the sale of the new one etc. Also about unemployment in the construction industry taking off as sites are closing down etc, 1 site of 500 proposed dwellings in Balbriggan in particular was mentioned. A bricklayer started on a Wednesday and laid off on the Thursday afternoon!

[Johnny]

Myhome Report #5 has just gone online, showing 773 further pricedrops.

Tá an nasc anseo

[Kevin Doyle]

For sale signs on Donore Avenue have been there for months. Price dropped from €420,000 to €385,000. 2 Signs on Herberton road have been there since well before Christmas.

House on St Albans Road has dropped its asking price from $1.2 M to €950,000.

Nobody is buying.

[galileo]

Nobody is buying.

Why would they when motormouth is promising no stamp duty by the start of the summer?

[Akrasia]

Nobody is buying.

Why would they when motormouth is promising no stamp duty by the start of the summer?

Stamp duty has no effect on the selling cost of a house (that's decided by market forces and supply and demand). It does, however, have an effect on the profit margin of the sellers (and it removes any advantage that first time buyers would have had in the marketplace)

[Carrigaline]

1 site of 500 proposed dwellings in Balbriggan in particular was mentioned. A bricklayer started on a Wednesday and laid off on the Thursday afternoon!

Balbriggan is hugely over supplied at the moment. I can see the developer there running into problems selling those kips.

[Kevin Doyle]

Well The Government have just announced they are going to spend €1.2 Billion on affordable housing which of course is code for bailing out developers such as these buy buying up these developements at present market value and using them as social housing.

Gombeenism in all its glory

[libertarian-right]

Well The Government have just announced they are going to spend €1.2 Billion on affordable housing which of course is code for bailing out developers such as these buy buying up these developements at present market value and using them as social housing.

Gombeenism in all its glory

surely the government cant keep this up in the long term. the government should improve other areas (transport, road network) instead of trying to keep the construction sector going

[MontgomeryClift]

1 o'clock news today on RTÉ: AIB predict 3.7% growth. "Slowdown" in construction will take 1% off economic growth. The reporter took it upon himself to say that there would be no crash. House prices falling in some parts of the country. Irish economy holding up well, he added.