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Joey Buttafueco Jr

Ireland Property

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Never having paid much attention to the state of the housing market over there, I knew that it was bad, but not this bad

http://www.independent.ie/national-news/co...ts-1846004.html

http://www.independent.ie/business/irish/v...ed-1844649.html

http://www.independent.ie/business/irish/b...bt-1843595.html

http://www.independent.ie/business/irish/d...fe-1842123.html

It seems that 1 in 10 headlines is related to property struggles of some sort

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Never having paid much attention to the state of the housing market over there, I knew that it was bad, but not this bad

http://www.independent.ie/national-news/co...ts-1846004.html

http://www.independent.ie/business/irish/v...ed-1844649.html

http://www.independent.ie/business/irish/b...bt-1843595.html

http://www.independent.ie/business/irish/d...fe-1842123.html

It seems that 1 in 10 headlines is related to property struggles of some sort

I talked to an Irish acquaintance of mine the other day

Apparently house prices are down 25-50% there, with expectations of worse to come as wages and jobs are cut

In the last article - about Liam Caroll - he really is one of Irelands biggest property developers

If his property empire goes into liquidation it would be a bit like one of the Tchenguiz brothers going bankrupt here

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Never having paid much attention to the state of the housing market over there, I knew that it was bad, but not this bad

http://www.independent.ie/national-news/co...ts-1846004.html

http://www.independent.ie/business/irish/v...ed-1844649.html

http://www.independent.ie/business/irish/b...bt-1843595.html

http://www.independent.ie/business/irish/d...fe-1842123.html

It seems that 1 in 10 headlines is related to property struggles of some sort

Of course, check the Ireland hpc site: http://www.thepropertypin.com/

Ireland led the mad boom, and are leading the bust - repossed from builders sold at 50%

http://www.thepropertypin.com/viewtopic.php?f=4&t=23816

http://www.irishexaminer.com/ireland/three...heme-97647.html

"For comedy value, here are the EAs comments from Dec 2008

http://www.anglocelt.ie/articles/1/34148

The five bedroom dormer home, measuring a very roomy 2,217 square feet, can now be purchased for just €229,000 although it originally had a price-tag of €350,000. the four bedroom semi-detached house is down to €165,000 from €245,000. The three bedroom semi-detached home is down to €160,000 from €235,000 and the three bedroom townhouse is down to €140,000 from €225,000. The selling agent admitted that this is an unprecedented drop in prices which he has never before seen. However, he believes that the only way is up and there was never a better time to buy.

'There is exceptional value to be had out there at the moment. It"s definitely a buyers market,' said Mr. Reilly. I believe prices seem to have "bottomed out" at this stage. With falling interest rates and, hopefully, the freeing of money from banks in the new year, I am very optimistic about the market from 2009 onwards.'

and don't forget the awesome Ghost Estates site:

http://ghostestates.com/main.php?g2_view=map.ShowMap

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"We will know the outcome of this at the end of the day and the end of the day may be a decade away."

Yep, a stroke of political genius, initiated in Germany by Angie M.

Gordo isn't the only politician in Europe trying top sweep problems under the carpet in a bid to get re-elected.

Don't you just looove the Eurozone :rolleyes:

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Of course, check the Ireland hpc site: http://www.thepropertypin.com/

Ireland led the mad boom, and are leading the bust - repossed from builders sold at 50%

http://www.thepropertypin.com/viewtopic.php?f=4&t=23816

http://www.irishexaminer.com/ireland/three...heme-97647.html

"For comedy value, here are the EAs comments from Dec 2008

http://www.anglocelt.ie/articles/1/34148

The five bedroom dormer home, measuring a very roomy 2,217 square feet, can now be purchased for just €229,000 although it originally had a price-tag of €350,000. the four bedroom semi-detached house is down to €165,000 from €245,000. The three bedroom semi-detached home is down to €160,000 from €235,000 and the three bedroom townhouse is down to €140,000 from €225,000. The selling agent admitted that this is an unprecedented drop in prices which he has never before seen. However, he believes that the only way is up and there was never a better time to buy.

'There is exceptional value to be had out there at the moment. It"s definitely a buyers market,' said Mr. Reilly. I believe prices seem to have "bottomed out" at this stage. With falling interest rates and, hopefully, the freeing of money from banks in the new year, I am very optimistic about the market from 2009 onwards.'

and don't forget the awesome Ghost Estates site:

http://ghostestates.com/main.php?g2_view=map.ShowMap

So it would seem that Ireland is similar to parts of the US where a dramatic building spree has lead to mass oversupply? The next question is, can England avoid a bust because we didn't have the same level of building? But then we have the example of Japan......

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So it would seem that Ireland is similar to parts of the US where a dramatic building spree has lead to mass oversupply? The next question is, can England avoid a bust because we didn't have the same level of building? But then we have the example of Japan......

I suppose the UK equivalent would be empty city-centre blocks of flats. I dont think we've had the same ghost estates as ireland - they're less crowded in Ireland and it's easier to build in the countryside, especially if you have a brown paper bag full of Euros <_<

I enjoyed your link http://www.independent.ie/national-news/co...ts-1846004.html

This is Robopaddy par execellance - leveraging fake profits from Ireland bu buy estates in Croatia!

(Robopaddy; http://archives.tcm.ie/businesspost/2008/0.../story29547.asp )

EDIT, link/spelling

Edited by dryrot

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It would appear that it is. Do you disagree?

I do, I just don't go for the whole UK supply of houses argument.

Well, unless everyone wants their own house. Or to own four or something. It's all about credit for me, always was always will be. I know that sounds simplistic but lets face it, we're not really that short of property are we?

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I do, I just don't go for the whole UK supply of houses argument.

Well, unless everyone wants their own house. Or to own four or something. It's all about credit for me, always was always will be. I know that sounds simplistic but lets face it, we're not really that short of property are we?

I used to be uber bear, but now am wavering, especially in the short term (over next year). I wrote a few weeks back about my place (Weybridge in Elmbridge) and how population had increased ~40% since early 90s. I am finding it very difficult to persuade myself not to buy somewhere bigger here (but another thing tells me to sell our current place now while times are good).

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