I know, it’s crazy. Sit tight, the next crash is on the way.Yes, for sure! I'm from Dublin's southside myself so know all about itStill technically live on the southside (my bf owns the property, it's not mine, I just pay my keep toward the mortgage
), but I'd have to lop off a limb or sell an organ to get a studio apartment where I'm originally from and my parents still live in the current climate. Will just keep saving, waiting for the lotto win and maybe in 15 years
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Crookstown or Onslow Gardens heheAren’t all the Cork ‘Huns moving to Crookstown?
yeah but inflations at 10% and there's supply issues. There's probably a recession coming, but houses don't really get repossessed here (why we've the highest mortgage rates in the EU) so I can't see prices dropping all that much.
good on her for moving, must have taken a whole pile of time getting all that done. big decision to move out, well done doireann
According to the bank valuers and the surveyors people are paying more for property that the property is actually worth. That’s not a good place to be if you are a buyer. Its a great place to be if you are a seller
no but, the thing is, they can talk all they like about what a property is actually worth. it doesn't matter a damn what anyone thinks its worth. What somehting is worth is what someone puts on the table to pay for it. My IWC isn't "worth" 10k, doesn't even have GPS. My Wifes engagement ring isn't "worth" 32k, it's purely ornamental. and a show of my undying love.According to the bank valuers and the surveyors people are paying more for property that the property is actually worth. That’s not a good place to be if you are a buyer. Its a great place to be if you are a seller
Valuers and surveyors can talk all they like, i couldn't give a tit if my properties are over or undervalued. I care about the 580k that i put into my bank accuont and will get working for me next week
It's not a great time to be a buyer, but with inflation at 10%, you're losing money in the bank and if you borrow, the bank is eating your debt
God the house is so boring. Typical “Instagram” though. Lifeless and greige as someone mentioned earlier. Very meh.
Explain this please?
Hope she’s ok. Genuinely.
Does she not get on with her family. Her brother is an auctioneer and she is using a different company Sad if she doesn’t get on with them
how sad is it that Doireann who’s knocking on death’s door because of her disorders is posting videos of her running and walking.
I’m all for health and fitness and train multiple times per week myself but this wan is literally on the verge of being fed intravenously.
Its a bad look for a GP
She definitely not ok.
Thank you! I thought the same.
It’s sterile, a bit like her. I get uncanny valley vibes https://www.verywellmind.com/what-is-the-uncanny-valley-4846247
So, if you've borrowed (say) 400k and inflation is (say) 10%, and you work in any sector really, the likelihood is that you'll have a wage increase to some extent. The real value of your money won't change as you'll be paid more in, but spending more, so your real income doesn't increase. On the other hand, the 400k that you borrowed is static (it's not quite that simple cos you're paying interest on it). So whilst you're earning more money (but in real terms not earning any more) then the bank is not really making anything on the mortgage as whilst the real value of money has decreased, the value of the mortgage has gone with it.
so if you were earning 50k and for some reason your employer was a normal person and increased your wages in line with inflation, then you're on 55k. The bank can just increase the money they've lent you to 440k, so in essence the bank (or the state if you want to think in that way) is taking the hit on inflation. With interest rates recently at all time lows, you would have been best to buy a house around 2010-2014 but I suppose that sage advice probably isn't an awful lot of use right now.
Hopefully that makes sense.
I think you might have overlooked the major role of compound interest/cost of credit, no?
Buy low, sell high.
Why are the curtains (pretty sure it was an ad back then) too long, is that a thing?
yes it’s a thing… I love the look of it but couldn’t have it in my house…couldn’t cope with the dust
Well, I'm more than happy to go into that... But it's not really germane to the point I was making. If inflation is on the rise, the real value of the money you earn is reduced but also the real value of the debt you carry is reduced.
Now, usually, you can do something about the money you earn, ask your boss for a raise, raise rents for your tenants, increase the prices you charge for #collabs etc. This still means the value of your debt is receding.
Now obviously there are bulwarks against this... Interest rate rises etc and as you rightly point out, compounding of interest obviously increases the cost of borrowing. But, that's not really the point I was making. We can go into it a bit more on my podcast in collaboration with several payday money lenders (I've about as much dignity as some insta shills - although, in fairness, I think Doireann is a hit of an exception, she mostly promotes stuff outside the field of medicine)
Guys please, is this really what people want to be reading on this thread??!!
Noting specail the house i was expecting it to be more insta on the outside!!!!
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