House price falls would be excellent for the economy

Jimmy_31

DervProf wrote: »

True. And here's a thought. This "my house is my pension" idea seems to be a relatively recent thing, and seems to be quite a popular "plan". I am wondering how it will work when increasing numbers of people come to retirement and want to "cash in". Will there be enough takers, willing to pay enough to keep all these people in comfortable retirement ?

Now that is a good point, i wont be buying one of their homes from them because i will be quite happy with whatever house i am in when i hit retirement age and probably long before that come to think of it, i really couldnt be bothered going through the buying and selling process at that time of life either. also i really wouldnt want to stake the quality of my retirement on the state of the housing market.

DervProf

HAMISH_MCTAVISH wrote: »

You'll be fighting over our houses.

I doubt I'll be doing that, at least I hope not.

the.ciscokid

HAMISH_MCTAVISH wrote: »

There are currently 120 houses for every 100 households in Ireland.

Population is falling.

Remind me again, what's the purpose of having a third of a million houses sit empty for a decade or two.... perhaps even forever?

Remind me again, what's the alternative and what good would it do?

HAMISH_MCTAVISH wrote: »

No, the exact opposite.

Right now ordinary working people in Ireland have NO CHANCE of buying a house, because the economy has tanked. Thanks to your beloved housing crash.

For that matter, they've got almost NO CHANCE of even getting a job. Thanks to your beloved housing crash taking down the economy. Hence why they're emigrating in numbers not seen since the potato famine.

Which came first, the boom or the crash?

It's not the cause, it is the effect of a very sick economy.