Posted by Ronan on Aug 23, 2007 in Uncategorized | 0 comments
A lot of people are talking about houses, the prices of them and whether the market is going to collapse.
It’s funny, I found this.. from 2001
For those who are lazy and want a quick synopsis it reads:
..The US economic slowdown has fueled much speculation about the future of the Irish property market. Plummeting share prices, profit warnings and redundancies are already a regular occurrence across the Atlantic and fears were further compounded when the European Central Bank announced that Ireland stands to be hit hardest should the US suffer a full-blown recession…
Things haven’t changed so..
…Although investors have begun to creep back into the market, tenants continue to be hit hardest by the current property trends. A decrease in supply has seen rents rise quite substantially over the past year…
This is still true today.. prices in Dublin for accommodation are crazy!
…Although investors aren’t snapping up property in the frenetic manner of a few years ago, industry insiders reject claims that prices will actually drop…
Where have we heard that before ??
We know they actually did ..but then the prices exploded and only went up.. until now perhaps? I wonder have we reached the point again in the housing market cycle where this article was in 2001? Will we see the market slip a little bit and then go up again like a rocket? I’m not sure, but I don’t think so. The performance indicators are different this time, the Irish mentality of now is different, we are all financially better off than we were in 2001 – for heavens sake a lot of the first year students coming to college next year will have a car and pay 4 euros for the carpark .. oh-oh I may have opened a can of worms ..