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 Post subject: Re: Is it 2006 again?
PostPosted: Tue Jul 18, 2017 11:22 am 
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FreeFallin wrote:
Ronan Lyons this morning said we'll be back at 2007 prices in 3 to 4 years in Dublin at current growth rates...party on


Is there any reason to think that current growth rates will continue?

My own view is that Brexit poses a huge risk but probably won't happen. However, none of that risk appears to be factored into the housing market.

The banks appear to be desperate to lend and to make a bit of money with interest rate rises now on the horizon. Is this going to continue?

One thing is for sure, the CBI rules are very much needed.


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 Post subject: Re: Is it 2006 again?
PostPosted: Tue Jul 18, 2017 11:28 am 
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Of Systemic Importance

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Can't see the current growth rates slowing down greatly in at least the next 12 to 24 months


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 Post subject: Re: Is it 2006 again?
PostPosted: Tue Jul 18, 2017 12:38 pm 
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Joined: Nov 6, 2006
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Remember how we complained about apartments, duplexes and townhouses being too small and the lack of anything bigger than a 3 bed semi (excluding one off rural dwellings - no wonder people do it)


We dont do that anymore, so thats different to 2006


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 Post subject: Re: Is it 2006 again?
PostPosted: Tue Jul 18, 2017 2:09 pm 
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Too Big to Fail
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Negative Covenant wrote:

My own view is that Brexit poses a huge risk but probably won't happen. However, none of that risk appears to be factored into the housing market.

The banks appear to be desperate to lend and to make a bit of money with interest rate rises now on the horizon. Is this going to continue?



Is there a discussion on that on another thread somewhere? I'd have thought another 2-3 years away at least.

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The real damage is done by those millions who want to 'get by'. The ordinary men who just want to be left in peace. Those who don’t want their lives disturbed by anything bigger than themselves. Those with no sides and no causes. Those who won’t take measure of their own strength, for fear of antagonizing their own weakness. Those people who roll up their spirits into tiny little balls so as to be safe. Safe?! From what?
Sophie Scholl


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 Post subject: Re: Is it 2006 again?
PostPosted: Tue Jul 18, 2017 4:01 pm 
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FreeFallin wrote:
Ronan Lyons this morning said we'll be back at 2007 prices in 3 to 4 years in Dublin at current growth rates...party on


Healthy growth

We're recovering nicely

Image

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Borrowers seeking mortgages have had to resort to saving deposits, forcing many to sit by and watch house prices tumble without being able to do anything about it. Sunday Independent - June 1 2008

I know a lot of them, like [Jimmy] Flynn, [Noel] O’Flaherty and the Baileys. You meet the Baileys at Croke Park every time you go there. You can’t avoid getting a slap on the back going in from them. Most of these guys lost their shirt. I feel sorry for them - Bertie Ahern


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 Post subject: Re: Is it 2006 again?
PostPosted: Tue Jul 18, 2017 4:09 pm 
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Too Big to Fail
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Location: Mesopotatia
Does cancer display "healthy growth"?

On my other question
https://www.thetimes.co.uk/edition/irel ... -pqsvc77pp

Quote:
On July 25 Ulster Bank will launch a four-year fixed-rate mortgage that charges 2.6 per cent, about ten percentage points lower than its cheapest fixed-rate mortgage product, which stands at 2.9 per cent.

_________________
The real damage is done by those millions who want to 'get by'. The ordinary men who just want to be left in peace. Those who don’t want their lives disturbed by anything bigger than themselves. Those with no sides and no causes. Those who won’t take measure of their own strength, for fear of antagonizing their own weakness. Those people who roll up their spirits into tiny little balls so as to be safe. Safe?! From what?
Sophie Scholl


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 Post subject: Re: Is it 2006 again?
PostPosted: Tue Jul 18, 2017 4:37 pm 
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Of Systemic Importance
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Dubhgeannain wrote:
Does cancer display "healthy growth"?

On my other question
https://www.thetimes.co.uk/edition/irel ... -pqsvc77pp

Quote:
On July 25 Ulster Bank will launch a four-year fixed-rate mortgage that charges 2.6 per cent, about ten percentage points lower than its cheapest fixed-rate mortgage product, which stands at 2.9 per cent.


I saw that. Wonder if their variables will also drop


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 Post subject: Re: Is it 2006 again?
PostPosted: Tue Jul 18, 2017 4:41 pm 
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Property Magnate

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The population of the country grew by 434,000 between 2006 and 2016.


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 Post subject: Re: Is it 2006 again?
PostPosted: Wed Jul 19, 2017 5:55 pm 
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Single Home Owner

Joined: Jan 6, 2012
Posts: 127
Inflation in Ireland has been as close to zero as makes no difference since 2008!

Property prices are still some way off 2006 levels of crazy but unfortunately, as others have said, we could be back there again in a few years. The fact that banks are much more restrained (and constrained) in lending this time around is the only saving grace I see at the moment. New supply is painfully slow to come on the market.


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 Post subject: Re: Is it 2006 again?
PostPosted: Wed Jul 19, 2017 8:58 pm 
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Planning Tribunal Attendee

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Posts: 1471
At some point, the lending rules will put a brake on it. Mind you, I was saying this two years ago, and it hasn't happened yet, do...


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 Post subject: Re: Is it 2006 again?
PostPosted: Wed Jul 19, 2017 10:25 pm 
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Worstpigeon wrote:
At some point, the lending rules will put a brake on it. Mind you, I was saying this two years ago, and it hasn't happened yet, do...

I'm pretty sure that the lending rules 'have' had a significant impact on putting a break on prices. Imagine where we would be if the rules weren't there!

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"Perfect is the enemy of the good"
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 Post subject: Re: Is it 2006 again?
PostPosted: Thu Jul 20, 2017 6:12 am 
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Dubhgeannain wrote:
Quote:
On July 25 Ulster Bank will launch a four-year fixed-rate mortgage that charges 2.6 per cent, about ten percentage points lower than its cheapest fixed-rate mortgage product, which stands at 2.9 per cent.


This is much under-remarked upon.

Over the last four years the canny mortgage borrower has been able to reduce her borrowing costs by about a hundred basis points.

This has all happened despite policy rates staying where they were, on the floor.

It's happened because banks are more profitable and some competitive forces are at work.

All else equal lower mortgage rates pushes up house prices.

All else is not equal of course, with 10 people at work in the economy today for every 9 at work in 2012.


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 Post subject: Re: Is it 2006 again?
PostPosted: Wed Sep 06, 2017 10:21 am 
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Things seem to have calmed down a bit for trader uppers over the summer. Has anyone else noticed this softening?


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 Post subject: Re: Is it 2006 again?
PostPosted: Wed Sep 06, 2017 11:09 am 
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Property Magnate

Joined: Mar 30, 2016
Posts: 621
Negative Covenant wrote:
Things seem to have calmed down a bit for trader uppers over the summer. Has anyone else noticed this softening?


doesnt everything always slow down over the summer, the number of listings etc

it seems to be hotting up again 8DD


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 Post subject: Re: Is it 2006 again?
PostPosted: Wed Sep 06, 2017 11:25 am 
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Too Big to Fail

Joined: Aug 8, 2008
Posts: 3426
Location: Cathair na dTreabh
Rental prices are higher than 2006 but where are the decking merchants and buy a house in CapeVerde or SunnyBeach merchants?

"The Taoiseach has said he does not see a great problem with the levels of borrowing to buy property. Mr Ahern said there had been predictions of a huge downturn in 2005. He added the bad advice given by so many resulted in some people making mistakes when they should have bought property last year. " 10/04/2006


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