House prices....

qwert_yuiop

Oo-er! I've just been told G. Osborne is planning on differential pay rates for public sector workers in the UK regions.

And where will Northern Ireland pay rates be? Will they be at A) Near the bottom or The bottom?

A.L.D.A

qwert_yuiop wrote: »

Oo-er! I've just been told G. Osborne is planning on differential pay rates for public sector workers in the UK regions.

And where will Northern Ireland pay rates be? Will they be at A) Near the bottom or The bottom?

Is there not already. In London they get paid more. Maybe it will encourage more jobs to be located here? Aside from that what we need here is more growth outside the government sector.

qwert_yuiop wrote: »

Yea, I botched it. I'm new to all this.

You're right. Mr Ponzi's name gets bandied about. I just mean Chinese factory workers on a tenner a week or whatever are not going to take up the slack when American consumers stop buying Chinese junk.

I can't see why Branson and ilk get lauded for Bono-style tax avoidance.

Here's another thought - why should gold be any different? Surely, like my late neighbour's house, it's only worth what someone will pay for it?

I agree about gold and if things get really tough food is more valuable than precious metals.

With regards China and India, I think they will weather it as there are so many goods and services needed in their own countries. They do not need us to buy, though it will take a period to adjust. Other countries are like Brazil seem to be moving forward. What we are seeing is the relative decline in the importance of the West and we have no one but ourselves to blame.

We are in this position because of the crazy end of Thatcherism, Reganomics, Consumer lead growth, exporting production, belief that we are superior and can concentrate on high end jobs, economic alchemy where by you can build an economy on charging commissions every time you passed the paecel. etc etc. We need to get back to the more simplistic concept that our wealth is based on what we produce.

We are way off the subject of the thread.

saverbuyer

A.L.D.A wrote: »

And this is NI and not the UK. So question is will the RoI have positive or negative impact on the local economy? I am an optimist so I am hoping increasingly positive. Their economy has taken a hammering. Is it going to contract further? I doubt it. As they recover opportunities will increase.

Some might call this miss placed "optimism" delusion. Anyone who can read a spreadsheet can see we the Republic (unless they exit the euro) are screwed medium-long term.

tara747

http://www.independent.ie/business/personal-finance/property-mortgages/young-couples-told-rent-dont-buy-as-prices-keep-falling-2949450.html

A.L.D.A

tara747 wrote: »

http://www.independent.ie/business/personal-finance/property-mortgages/young-couples-told-rent-dont-buy-as-prices-keep-falling-2949450.html

Thanks, to quote;

The housing analysis finds that, if house prices stabilise next year, potential first-time buyers would be better off going ahead with a purchase.

Dr Duffy said that if house prices decline by another 13pc, then renting would be a better option.

If house prices fall by another 4pc then there will be little difference in the cost to a family between renting and buying.
Dr Duffy believes "there is still significant adjustment to take place in house prices".



This is the South not NI, and the tenor is somewhat unusual as it is pointing towards futher falls and a floor. I believe that it is always more complicated. Various locations and various sectors of the housing market will level out first. It won't be universal. In the south it will be parts of Dublin and Wicklow. Here probably parts of the Belfast commuter belt, and parts of South Belfast. Places people consider desirable. Low end housing here (in areas with high housing demand) may be approaching floor. Others disagree with sound reasons.

Mind you it all depends on just how bad the overall economic climate gets. If Countries start defaulting we are in uncharted waters as banks will fall, and money will lose value. What should (what can) any of us do? If the economy does go into recession this will be to the benefit of no one FTB included, for what use are cheaper houses if you do not have a job or surplus income?

House prices are a bit of a side show what we need is economic growth and a reduction in government spending as a percentage of GDP. Hard decade ahead.

tara747

Sorry, wasn't drawing parallels I just thought that it was significant that a government body, ESRI, is advising FTBs to rent for the foreseeable future and that there is no danger of prices rising for some time.

Mistral001

saverbuyer wrote: »

Some might call this miss placed "optimism" delusion. Anyone who can read a spreadsheet can see we the Republic (unless they exit the euro) are screwed medium-long term.

Maybe this is off-topic, but I think that the Euro Zone countries will all pull together and come out a lot better than many in the UK think. The bigger countries in the Euro Zone will make it their business to continue to bail out the weaker ones despite the huge cost. There is a big incentive for the stronger countries to do this. It means that they will be able to gain much more influence on the world financial stage. They have already done it with Obama spending more time with the Euro zone countries than the European countries outside the Euro Zone. I am not sorry we did not enter the Euro, as we are in a stronger position now as a result, but will we be in 10 years time?

saverbuyer

Mistral001 wrote: »

Maybe this is off-topic, but I think that the Euro Zone countries will all pull together and come out a lot better than many in the UK think. The bigger countries in the Euro Zone will make it their business to continue to bail out the weaker ones despite the huge cost. There is a big incentive for the stronger countries to do this. It means that they will be able to gain much more influence on the world financial stage. They have already done it with Obama spending more time with the Euro zone countries than the European countries outside the Euro Zone. I am not sorry we did not enter the Euro, as we are in a stronger position now as a result, but will we be in 10 years time?

I'm sorry Mistral but Italy is toast, Spain is toast, the Euro as a project is finished. There will be no bail out for the "smaller" countries because Spain and Italy anything but small. There are Political problems also, Merkel won't be able to sell it to the German people too much longer that they have to pay for the rest.

Seriously give it 24 months, the Euro as you, me, Ireland, Spain and Ital knows it is over.

A.L.D.A

saverbuyer wrote: »

I'm sorry Mistral but Italy is toast, Spain is toast, the Euro as a project is finished. There will be no bail out for the "smaller" countries because Spain and Italy anything but small. There are Political problems also, Merkel won't be able to sell it to the German people too much longer that they have to pay for the rest.

Seriously give it 24 months, the Euro as you, me, Ireland, Spain and Ital knows it is over.

You say that with such certainty.

This is a crises that could have been avoided. You mention Germany, but in truth no matter what way this turns Germany has to take a loss. If Italy or Spain default German and French Banks take a hammering and many will fail. If the ECB prints and buys bonds the currency is weakened. If it is direct intervention the German tax payer pays. Several of the aforementioned will increase the cost of German borrowing. If Germany opts out the new mark will rise and they will be in the same position as Switzerland with a currency value that cripples their industry and businesses will increasingly move production. If Italy opts out then the likelihood of getting back loans is low.

Germany does not have many good options. I think they will try significant ECB intervention. Should have done this back when Ireland hit the buffers.

2013 is the next German general election and the current government will lose. Will they try something radical, I very much doubt it.

Mistral001

saverbuyer wrote: »

I'm sorry Mistral but Italy is toast, Spain is toast, the Euro as a project is finished. There will be no bail out for the "smaller" countries because Spain and Italy anything but small. There are Political problems also, Merkel won't be able to sell it to the German people too much longer that they have to pay for the rest.

Seriously give it 24 months, the Euro as you, me, Ireland, Spain and Ital knows it is over.

Apology accepted!!

Pet hate when people say that on this forum.

opinions are welcome as far as I am concerned. Afterall it was only my opinion.