Posted in Bankrupt ireland, Irish property bubble, Irish Society, Irish housing on Oct 20th, 2010 No Comments »
The average house price in Ireland at the end of March 2010 was €226,245.
This is about €23,000 lower than the average house price in 2004, and over €96,000 lower than the highest average yearly price, which was €322,634 in 2007.
We know that from 2005 to 2009 there were around 138,042 mortgages sold to […]
Posted in Bankrupt ireland, Irish property bubble, Irish housing, Irish social history on Oct 18th, 2010 No Comments »
It’s a godsend for the wealthy, a real haven.”
In March 1988 Ray McSharry reintroduced section twenty-three tax relief on rental properties. It was listed under section twenty-seven of the Finance Act but retained its name from 1981, when it was first introduced as a stimulus for investment in construction.
The Irish Times reported that the […]
Posted in Irish property bubble, Irish journalism, Irish social history on Oct 17th, 2010 4 Comments »
There are very few shining lights in Irish journalism, especially when it comes to property and the housing market. Most of them acted as cheerleaders for the boom, with Brendan O’Connor’s “Smart Ballsy Guys” typical of the shameless approach undertaken by the newspapers.
This is not a recent phenomenon by any means. The Irish Times, for […]
Posted in Irish property bubble, Irish journalism on Oct 6th, 2010 4 Comments »
A word of caution is, however, necessary in the case of Ireland, where significant differences between the results of the two methods point to a considerable degree of uncertainty regarding the size and sign of house price misalignments” (p.37)
The full report is available here
This is what Ann Cahill had to say today.
HOUSE prices in Ireland […]
Posted in Bankrupt ireland, Irish property bubble, Irish Society on Oct 5th, 2010 8 Comments »
I’ve written on this before, but in light of the latest Daft report I think it’s worth repeating that house prices have to be linked to income levels in order for there to be a realistic housing market.
Best practise has house prices at around two and a half to three times the average wage. […]
Posted in Bankrupt ireland, Irish property bubble, Irish journalism, Banks on Oct 3rd, 2010 14 Comments »
[Thanks to ec for the story and link to the transcript]
I’m usually criticising David McWilliams, so I don’t get to say this that often, but he plays an absolute blinder here.
He is completely correct.
I think that there’s something very deep going on in the government, which is that the establishment in Ireland, and when […]
Posted in Bankrupt ireland, Irish property bubble, Irish Society, Irish Economy on Oct 1st, 2010 4 Comments »
Today’s announcement brings full clarity to the costs and methods of recapitalising the banks. These costs are fully manageable in the context of the programme of fiscal restraint to which the Government is committed.” (Brian Lenihan, 30 September 2010)
A bank makes money by selling credit. It charges for financial transactions but essentially it makes money […]
Posted in Irish property bubble, Irish Society on Sep 30th, 2010 1 Comment »
Google Street View has just gone live, which means we can get to see all the unfinished estates that our grandchildren will be paying for, thanks to Fianna Fáil.
Posted in Irish property bubble, Irish Economy on Sep 12th, 2010 9 Comments »
This is a quick post, which came out of a conversation I had yesterday after the Desmond Greaves School.
The first graph is the house price index (1987=base year) for the USA, UK, Australia and New Zealand.
The one below shows the house price index (1987=base year) for Ireland.
The pattern is roughly the same because what drove […]
Posted in Irish property bubble on Sep 4th, 2010 No Comments »
The sales process appears to be speeding up, especially in traditional neighbourhoods. In 2008 it was taking an average of 212 days to sell a property, in 2009 it dropped to 174 days. In 2010 it is taking an average of 121 days to sell, according to figures compiled by Sherry FitzGerald.
HOUSE hunters are gradually […]
