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Debate House Prices
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Major Irish Property Auction - will true value of property there be established?
Comments
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€20,000/€30,000, Hrm, it's going to cost somewhere around that if not more to get an extension put on my house, maybe I should buy one of these and invent a teleporter instead.0
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worldtraveller wrote: »You can check out some current listings HERE.
daft.ie ? There must be some irony there.0 -
HAMISH_MCTAVISH wrote: »Granted, undersupply causes it's own set of problems, but given the choice between the two evils, it's better by far than oversupply.
Oversupply would have been great for the Irish if they hadn't been pumped full of cheap credit. I don't know for sure, but was some or all of the oversupply created from cheap credit ?
Anyway, in my opinion, oversupply (obviously not masive oversupply) is better than undersupply.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Oversupply would have been great for the Irish if they hadn't been pumped full of cheap credit.
Why? Supply and demand are what determines house prices in the long run. As the Irish have just discovered in no uncertain terms.
The timing of events may have been different for Ireland without as much credit, but if they built 17% more houses than they had the people to fill them, the end result would have been the same.
Destruction of their banks, economy, and the prospects of a generation.I don't know for sure, but was some or all of the oversupply created from cheap credit ?
We were also "pumped full of cheap credit". Yet we have a massive housing shortage and had a tiny crash by comparison... so credit obviously isn't the main issue.Anyway, in my opinion, oversupply (obviously not massive oversupply) is better than undersupply.
Well, Ireland's oversupply has devastated their economy. Glad we don't have that here.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Poster who wants house prices to fall prefers oversupply. Poster who wants house prices to rise prefers undersupply.
I've heard elsewhere that the pope is catholic and animals of the family Ursidae prefer toilet facilities in woodland areas.0 -
This was just reported on sky news. The headline summary was that "the extent of the credit crisis is so severe that some property is predicted to reach on 1/4 of it's market value at auction".
Ermmm....no. It will reach 100% of its market value methinks.0 -
Presumably there is demand in Ireland for second homes? Or holiday homes for us Brits?0
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Radiantsoul wrote: »Presumably there is demand in Ireland for second homes? Or holiday homes for us Brits?
Apparently not enough to fill a third of a million houses.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
The Problem
The Solution
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Can we send them our jobless people who want social housing .... might as well pay to have them sitting there as here.0
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