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House Price Crash Forum


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About plummeting_prices

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  1. Irish SSIA's are all going to begin maturing in 2006-2007. For those of you unfamiliar with SSIA's, they were a "Special Savings Incentive Scheme" introduced by the Irish government in an attempt to encourage saving. Basically, the way they worked was, members joined up and could lodge a fixed amount each month up to a maximum of 254 euro. This would be invested in either a bank account earning interest or shares. Unfortunately for them, most SSIA holders opted for the bank account option after the 'then recent' stockmarket crash. The beauty of the SSIA schemes was that the Government gives
  2. Irish property prices aren't going to fall. Irish property prices ALWAYS go up.
  3. And what would your reasons for not to use visual basic be??
  4. Has noone else any comments/suggestions on my mortgage calculator then??? I'd like any suggestions to add new features to it if possible!!!
  5. Hi, I've just double checked. My program uses the Charcol method. I decided to use this method because it is what the majority of the online mortgage company calculators seem to use.
  6. Yeah, I fully agree with the comment about Excel. However, doing these calculations in Excel requires a certain level of computer literacy which not everyone has. The calculator I developed aims to simplify the process.
  7. Hey people, Just thought I'd post this now that it's finished. I have learned some programming skills and whacked together some software over the past few months with regards to mortgages. The software will tell you many things. Heres an example of what it does: Calculates Your Monthly Repayment Calculates how much you can borrow - given your monthly repayments, mortgage term and interest rates Calculate how long it'll take to repay the mortgage - given the mortgage amount, monthly repayment and interest rate Calculates how much sooner you'd pay it off with £X extra per week Calculates
  8. The potential problem with the "When the facts change, re-evaluate" is that it suggests buying when the market turns. This, in my opinion will lead to losing out on the huge differences between asking prices and agreed selling prices that are likely to be seen close to that time - probably in excess of 10%. When the market turns, the newspapers will report it and when this happens, you are likely to lose that 10% overnight. Indeed, houses could then start selling at above asking prices, i.e. it will turn from a buyers market to a sellers market again.
  9. I've read in various articles from various sources of prices dropping over the next 1-5 years. The range of the predictions are immense. Indeed, by even looking at the homepage of this site you will see predictions ranging from 0% change to as much as 50%. I've also read through the forums here about people saying that it's best to hold out from buying until buying becomes cheaper than renting again. The only problem is - I don't think the crash will go this far. Indeed, many of my relatives who bought in London in the 70's and 80's have been known to say: "things where tough then... there'
  10. I've just read on one of the Irish property forums about a man asking for advice on where in Dublin is best to buy a BTL property. You'll not believe the response: Now, at the €3/5 million bracket considering the VERY LOW Irish interest rates of 3.4%, you would need to charge €8,500 - €14,100 per month just to cover the interest. Sounds a bit of dodgy advice to me but then again, I suppose that €5,000,000 house is going to be worth €20,000,000 in 3-5 years - Ideal for an FTB on a salary of €5,700,000 per annum. After all, that is only a 3.5 salary multiple
  11. Another interesting thing (if you don't think it's too personal) would be to find out how many of each type of coins you have as well as how you decide to buy more. For example, do you keep gold to a certain percentage of your total investment portfolio or do you buy as many coins as possible with each months salary. Personally, I have just ordered my first 5 and would consider buying 3 per quarter or something similar - depending on how the value rises/declines of course.
  12. Hey everyone. After carefully reading the topics about gold on this forum - regardless of some peoples annoyance at the amount of gold threads, there are some people (like myself) who don't have a clue about investing in gold so the more threads the merrier. Anyway, I've just gone and taken the plunge and bought 5 Krugerrands from goldline.co.uk. I'm worried about two things: The Company not delivering - I've been burned recently by Tiny Computers bankruptcy who failed to deliver my laptop after taking my money The possibility that I have missed the boat - with Gold at it's 17-year high
  13. I'm no economist and am wondering what effect a countries trade surplus/deficit has on its' economy, i.e. Jobs, house prices, etc. I have just noticed the following from the National Statistics Office pink paper for 2005: Trade in goods and services The trade in goods account recorded a net surplus in the years 1980, 1981 and 1982, largely as a result of exports of North Sea oil. Since then, however, the trade in goods account has remained in deficit. The deficit grew significantly in the late 1980s to reach a peak of £24.7 billion in 1989, before improving in the 1990s to a level of a
  14. Former Dublin tool shed finds buyer at $269,100 DUBLIN (Reuters) - A former tool shed built to fill a gap in the middle of a row of Victorian houses in what was once Dublin's poorest district has found a buyer at a startling price of 220,000 euros. At 10 feet (3 metres) wide and with a floor space of 280 square feet (26 square metres), the building was last sold for 500 Irish pounds in the 1970s. The red-brick house has no garden and no downstairs windows. The estate agents selling the property said on Monday a sale had been agreed but declined to comment further. The price tag raised eyeb
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