Houses going for a song

Tomas Mor

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In a scene reminiscent of Bertie,Biffo, Seanie Ireland,people camped out for 2 nights in Drumshambo , Co.Leitrim to buy houses this weekend (RTE news) . Believe it or not. Only this time beautiful detached houses which sold for 350,000. 00 a few years ago were being sold off by banks for 140, 000.The last remaining batch were snapped up by buyers looking for as bargain and who wanted a house. Only problem is what do the unfortunates who paid the original price of 350 grand feel now, seeing the same houses being sold off 140 grand. This is the legacy of Bertie/Biffo/Seanie Ireland to them. Continue singing Biffo.
 


Tommythecommy

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At one time you could get a merc thrown in with a new house

At one time you could get a merc thrown in with a new house.

Soon you will get a house thrown in with a new merc.
 

ballot stuffer

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You think 140k is cheap? You ain't seen nothing yet.
 
D

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You think 140k is cheap? You ain't seen nothing yet.
There is a new greed abroad - every bit as bad as the greed that characterised the boom - it is a greed to find the bottom of the property market. Keep looking hard enough and you'll not notice the price passing you by on the way back up.
 

Tommythecommy

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Is that you Donnie?

There is a new greed abroad - every bit as bad as the greed that characterised the boom - it is a greed to find the bottom of the property market. Keep looking hard enough and you'll not notice the price passing you by on the way back up.

Is that you Donnie? or Frankie forty gaffs?
 

captainwillard

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There is a new greed abroad - every bit as bad as the greed that characterised the boom - it is a greed to find the bottom of the property market. Keep looking hard enough and you'll not notice the price passing you by on the way back up.
What a bizarre comment. Those house are overpriced compared to where they will be next year. I reckon the floor will be somewhere around 60-70k myself.

As for missing the bottom, it will be a long long slow fall. No sharp spike coming this time.
 

Vincent Browne's tie

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There is a new greed abroad - every bit as bad as the greed that characterised the boom - it is a greed to find the bottom of the property market. Keep looking hard enough and you'll not notice the price passing you by on the way back up.
Waiting for value for money?

Some call it prudence, but we know an awful lot about that here don't we? :rolleyes:
 

MrBananagrabber

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There is a new greed abroad - every bit as bad as the greed that characterised the boom - it is a greed to find the bottom of the property market. Keep looking hard enough and you'll not notice the price passing you by on the way back up.
I have no personal interest in the property market one way or the other, but with the deficit in the public finances, personal debt, huge unemployment, the property being held back by NAMA, and no sign of the proverbial corner being turned, I'm curious to know how and when you think the average house price will start to rise? I just can't see how it can happen in the near future...

I'm not trolling you here, I'm just interested to hear where you're coming from...
 

captainwillard

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No problem with prudence - but talking down property prices to downright delusional levels is just a tad silly.
Falling house price expectations are relentless. Psychology is no matter how good a deal you get this year, you can get a better deal next year. I can see how some would want to buy those houses. But wait till they want to sell. The bottom will be 60-70k.
 

Vincent Browne's tie

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No problem with prudence - but talking down property prices to downright delusional levels is just a tad silly.
This website has been known to over react, but house prices are definitely going to fall further, it would be silly to buy now unless they are going at a cut price.
 

Pabilito

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140K for a house in Drumshambo!.. 80K topps with a merc thrown in.
 
D

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Falling house price expectations are relentless. Psychology is no matter how good a deal you get this year, you can get a better deal next year. I can see how some would want to buy those houses. But wait till they want to sell. The bottom will be 60-70k.
Can you explain how you are arriving at this precise figure for these particular houses?
 

Cassandra Syndrome

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No problem with prudence - but talking down property prices to downright delusional levels is just a tad silly.
Deal with it

 
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No problem with prudence - but talking down property prices to downright delusional levels is just a tad silly.

I'm not trying to be insulting here Sailor but house prices do seem to in the past have been talked up to downright delusional levels so it is a possiblity that the opposite could occur. If it does overshoot though it will be for a very limited number of properties before buyers come back in and drive it up again to a rational level. Having said all that, what do I know? :D
 

Tomas Mor

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Or even for a three-bed semi? Anywhere?

I dont think you can build any house for 60-70K anywhere, even if you were a builder and had your own site. Planning, ESB, water,sewage connections cost about 10 grand minimum alone.
 


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