House prices (1 Viewer)

Having a large music/dvd collection means that renting (or moreso moving) is absolute hell. One of the reasons why we decided to buy.
this is why i first decided to buy in 2002 (bought in 2003); lots of CDs, and sizable speakers meant i wasn't able to rent a room anywhere. and it became obvious that renting would cost as much as, if not more, than buying.
 
banks lending primarily creates demand, not supply.
yes, banks have to lend to allow someone in negative equity to put their house on the market.

but from all i've heard recently, the demand is outstripping supply by a large margin. and demand is affected a lot more by liquidity than supply is.
 
Yes, there are lots of empty houses, and apartments, even in "prime" locations... but many of them aren't on the market because the owners would apparently prefer to leave them empty than to sell them in the current market. Greed rules the housing market here.
 
Nama controls a lot of houses that won't be on the market til they're worth substantially more than they were bought for as making a profit was one of the ideas behind Nama.
 
Nama controls a lot of houses that won't be on the market til they're worth substantially more than they were bought for as making a profit was one of the ideas behind Nama.

Yes, there is the Nama influence too... and the problem there is that the prices that they're going to be looking for are back at the unreasonably/unsustainably high levels we had in the boom.
 
Yes, there are lots of empty houses, and apartments, even in "prime" locations... but many of them aren't on the market because the owners would apparently prefer to leave them empty than to sell them in the current market. Greed rules the housing market here.

fair enough.

If i sold my house now i'd loose 33% of what i'm paying for it, leaving me paying off the rest for years to come. is that greed, or just not being an idiot?
 
I'm not talking about owner/occupiers or people who bought to "get on the property ladder", I have nothing but sympathy for them. I'm talking about builders, developers and property speculators - the people who created this mess in the first place. They're not willing to sell for small profits, or to break even, so a lot of these properties remain empty, and in many cases unfinished.
 
Nama controls a lot of houses that won't be on the market til they're worth substantially more than they were bought for as making a profit was one of the ideas behind Nama.
i looked at a house in the summer last year, being sold by nama. they were looking for a very reasonable price for it, even in that market. we didn't like the location.
 

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