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Thread: Living costs

  1. #1
    Politics.ie Member
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    Default Living costs

    With everything going down the tubes in this country, do you think we'll see a big reduction in living costs? I know prices have come down to a certain extent, but still seems to be more expensive than the UK and pretty much any other country I've been to in the EU lately. If or when PS/CS wages and welfare are cut in the next budget or if there are big income tax hikes and other hikes, people will have less money to spend, will this bring about changes in the cost of living?
    Can ESB and Bord Gas prices come down with their employees earning so much money? Will the cost of doing business come down, i.e. insurance and overheads, to make it easier for restaurants etc to function? Was Ireland a cheap country for visitors before the boom? I'm too young to remember! Opinions welcome!
    Last edited by gayguy2000; 1st October 2010 at 12:06 PM.

  2. #2

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    The stuff that we do need, food, water, energy, rent, mortgage interest rates etc will go up in price substantially.

    The stuff we don't need, durable goods and some services will keep going down in price substantially until the inventory cycle is complete.

    This will skew the inflation rate and make thinks look a-ok.
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

  3. #3
    Politics.ie Member firefly123's Avatar
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    I doubt you will see much until people are forced to lower their costs. That will result in a lag between what people earn and the price of everything. It will take time for the market to adjust. Remember also that a lot of people are still pulling in big wages under the radar. Either by nixering or by being in private sector and public sector management. I know of many honorable exceptions in the private sector who will take their wage down to nothing to keep lads they employ working but others in finance and accounting are still creaming it.
    Prices have come down in lots of places with restuarants offering early birds all night etc and that is welcome but my weekly shop (unless in lidl or aldi) is still too high.
    Finally and unfortunatly no matter how much people drop their prices many of us bought our houses at the wrong time. We did not have the magnificent foresight that some people on here claim to have. We just had young families. Now I am happy with where I live thank god and dont plan on moving but I still have to pay a mortgage and it is only ever going to go up in cost when the ECB are told to do it by Germany.

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    Politics.ie Member Interista's Avatar
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    Was Ireland a cheap country for visitors before the boom? I'm too young to remember! Opinions welcome
    Ireland has never been a cheap country, not in my lifetime at any rate. The 'boom' and the advent of the Euro made Ireland even more expensive in the last decade or so, but it has never been cheap. When I interrailed around Europe in the early 90s, it struck me that just about everywhere I went was less expensive than Ireland.

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