House prices are continuing to fall according to the latest Permanent TSB/ESRI house index.
The survey has shown prices were down by just under half a percent across the country in July.
The cost of buying a home has now fallen by 3% since the start of the year.
More at Ireland.com
Is it a Bad time for the construction industry, or a terrible time?
I believe it is about to become terrible after 10 years of construction nirvana.
By 2020, 12.75Lts of petrol will cost you just under €30, today it will cost you €16.42 exactly.
i think its great - FF's chickens coming home to roost...
Build your economy on sand - then you'll sink..
Haben't you heard the boom is getting boomier.
"I'm not a member of the establishment" B Lenihan BL, T.D., Min for Fin, Son of Fmr Tanaiste Nephew of a fmr Dep leader of FF and min and brother of a Jun Min. Bertie made the Sheeple happy.
It's never been a better time to buy!!! (according to every vested interest economist who have been swarming the airwaves)
Actual morality is doing what is right regardless of what you're told. Religious morality is doing what you're told, regardless of if it's right.
I still can't see a crash happening though.
Would hold off a few more months if I was buying though.
Mortgages are down by a quarter, house prices are down 3% in the first 7 months of the year.
The 'traditional summer lull' is over now and optimistic sellers are going to start panicking when they're houses refuse to shift without significant price or added value concessions.
It's about to get interesting
Actual morality is doing what is right regardless of what you're told. Religious morality is doing what you're told, regardless of if it's right.
Which is exactly what turns a fall into a crash...Originally Posted by bobbysands81
Never let the best be the enemy of the good.
Hopefully this crash will happen in the next year then maybe my family and I can live in the city I was born and raised in! Houses in Dublin are still about 100k too expensive.
IF YOU'RE LOOKING FOR A FIGHT, YOU'VE COME TO THE RIGHT SITE = P.ie - Brings out the worst in people!
The key is to shake the nvestors out of the market, alas, cant see how it'll happen without effecting the rest. 2 bed appts are going to suffer most...
Its not a big problem unless you are an investor, as long as you can afford the financial commitments you have tied yourself into.
First timer buyers home will get cheaper,
People, like me, who have a place but need to move to a bigger home will see the value or oour house shrink, but so too the price of the one we want to buy,
The real losers are people who bought recently who want to leave Ireland, those who have committed to buying a house but not managed to sell theirs yet, overstretched investors and maybe tenants who may see rents rise further as investors try to cover costs.
It'll only be a real (as opposed to political) crises if interest rates keep going up and people can't afford their current loans. Definitely a vicious cycle though, you'd be mad to buy at this point in time, but no buyers will only excacerbate issues... fun times indeed.
I suppose we'll have all the vested interests on the media this evening talking about soft landings, alot of people i knew bought houses for resale in the short term 2-5 years, what if prices stagnate over the next few years.
We should stop listening to auctioneers and our 'developer' FF government
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