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File photo of Rose of Tralee host Dáithí Ó Sé and contestants in 2017. Sam Boal/RollingNews.ie

Irish Greyhound Board withdraws funding from Rose of Tralee after contestants receive 'malicious threats'

The IGB has been mired in controversy since serious animal welfare issues were uncovered last month.

THE IRISH GREYHOUND Board and the Kingdom Greyhound Stadium have “reluctantly” withdrawn financial support from the 2019 Rose of Tralee Festival.

The IGB has been mired in controversy since serious animal welfare issues in the industry were uncovered by an RTÉ Prime Time Investigates programme.

The decision to withdraw sponsorship comes after festival contestants received threats and abuse online since the programme aired last month.

In a statement, the IGB said the decision was made “following much engagement and consultation with festival organisers”.

“Many festival ambassadors, including the Roses themselves, have been the subject of malicious online threats in recent weeks which the Rose of Tralee Festival and the IGB find totally unacceptable.

“The IGB respects the right to protest but this must be done in a peaceful manner, including in online fora and on social media.”

A report, uncovered by RTÉ, which was completed in 2017 but never published, stated that up to 6,000 greyhounds are being killed each year because they are not fast enough.

During the week, Sports Minister Shane Ross told his ministerial colleagues that the practices uncovered in the programme amount to “subsidised cruelty” – the greyhound industry currently gets annual State funding of €16 million. 

It is understood that Ross wants IGB members to resign, telling his Cabinet colleagues it is unacceptable no one is being held accountable.

The IGB strongly condemned the practice uncovered by the programme and promised to implement reforms.

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    Mute Tommy Sheridan
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    Jun 2nd 2020, 6:39 AM

    I’m not an expert so I could be talking out my arse but I don’t understand how new builds can drop in price . Surely the houses are going to take longer to build with all the social distancing etc meaning they will be more expensive to build and slower to come on market.

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    Mute 8-Bit-Relic
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    Jun 2nd 2020, 6:46 AM

    @Tommy Sheridan: With plenty of people receiving social welfare this year and businesses at stake there will be less people trying to buy a house at the moment. It’s less demand.

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    Mute Dino
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    Jun 2nd 2020, 7:10 AM

    @8-Bit-Relic: less demand will lead to less houses being built not necessarily lower prices. I know one of the biggest developers in the country are planning on opening up only 40% of the sites the rest of this year that they were going to pre covid.
    If all developers build 60% less then approx 8400 units would be built this year underpinning the price of new and existing stock as it is estimated by the central bank that we need to build 34k new units per year for the next 10 years just to meet demand. I doubt all developers will reduce output by this amount but I’d say demand could easily be hit by 30 to 40% which still put huge pressure on the system.

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    Mute oMaraTpe
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    Jun 2nd 2020, 7:29 AM

    @Tommy Sheridan: you are right about cost of building. If developers can’t sell – they will sit on their stock for as long as they can in order to get their money back. House prices in Dublin will go down a bit. First time buyers generally can’t afford Dublin prices hence demand for 300-400k newly built family homes will not go down.

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    Mute 8-Bit-Relic
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    Jun 2nd 2020, 7:38 AM

    @Dino: I agree with everything you have written but if you can’t get mortgage approval as potential buyer you are not on the market.

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    Mute Peter Hughes
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    Jun 2nd 2020, 7:46 AM

    @oMaraTpe: I really don’t think people understand how bad things are, this is the calm before the storm, our debt levels will be enormous in the coming years…..house prices will fall minimum 20 percent and thats been positive….they could fall much further if things go really bad and we struggle to borrow money.

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    Mute John Moylan
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    Jun 2nd 2020, 8:16 AM

    @Peter Hughes: they won’t fall. I’m in the business and existing costs are rising and new costs appearing due to Covid. Coupled with reduced output order books and lead times getting longer, not shorter- no reduction in demand. People still need houses.

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    Mute Dino
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    Jun 2nd 2020, 8:20 AM

    @Peter Hughes: people just won’t sell houses. This isn’t like the last recession where people had over borrowed and in many cases had 2,3 maybe 4 or more houses when the recession hit and a huge amount of people left the country with a massive overhang of housing stock. Even if we do have emigration again there will not be an overhang of housing stock and the majority of home owners are now nearly halfway through their mortgages so won’t be selling their homes for less than what the feel its true worth is which is probably about 20% below where it was pre covid. To think that they will drop 20% is futile, if anything they will start rising again by the middle of next year if covid is behind us. The debt levels you speak of have minimal impact on the economy and the average joe/Jane who are looking to buy a house to live in. The government is not in a position with a shrinking economy which skews debt to gap levels making it more expensive to borrow so we are not looking at mass austerity again.

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    Mute Peter Hughes
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    Jun 2nd 2020, 10:59 AM

    @John Moylan: haha people still need houses…..ok and how do all these people buy houses?
    1. incomes will be reduced, 2. hundreds of thousands of people will lose their jobs, 3. taxes go through the roof, 4, the banks loan less money. All of the above will happen and will result in large drops in house prices…… I find it a bit disturbing that people need to be told all of this lol….you are either delusional/thick or have skin in the game (and estate agent etc).

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    Mute Peter Hughes
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    Jun 2nd 2020, 11:02 AM

    @Dino: Have you not been reading the news lol???….we are about to hit the worst recession since the great depression…..but yes somehow its all going to be fine by next year the year we will need to borrow 10s of billions just to limit the damage…..sure your right house prices will surely rise next year, God give me strength.

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    Mute The Guru
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    Jun 2nd 2020, 11:16 AM

    @Dino: nobody will “want” to sell their property but many will not have a choice. You’re also completely ignoring the amount of properties owned by investors and large companies. As rents and in turn investment yields fall they will look to offload them. We’ve already seen a load of ex Airbnbs come on to the rental market.

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    Mute Dino
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    Jun 2nd 2020, 11:28 AM

    @The Guru: ah, where do you think people are going to live if they “have” to sell their house? It just puts more pressure on the rental sector driving up rents supported by government handouts to keep people from being homeless. Investors and large companies will be making mega yields so they will buy up any lose housing stock. Only one winner here and thats property owners lucky enough to have a job and keep paying their mortgages and the big investors.

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    Mute The Guru
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    Jun 2nd 2020, 11:42 AM

    @Dino: you seem to be working off the basis that things will recover pretty quickly and get back to normal. That’s fair enough but it couldn’t be further from my base case. I predict a much longer depression and once government supports wind down I expect mass insolvencies, including large property companies who are sitting on piles of assets providing them little to no return at the moment. None of their financial models will have accounted for this so I don’t think they’re sitting on piles of cash waiting to buy more.

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    Mute Dino
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    Jun 2nd 2020, 12:30 PM

    @The Guru: why would there be such a depression? The conditions aren’t there for that? People aren’t over borrowed, companies are flush with cash and governments are borrowing at record lows? Apart from hospitality and tourism sectors most industries are just going to continue on as normal once things start up. Circa 130 people under 65 have died from covid 19 and if it does return we’ll be much better equipped to face it down with better ppe and people understanding the value of social distancing and hand washing. If the government takes a hit of 30bn it won’t change what happens re the economy as they will have to grow their way out of it just like we had been doing since 2012 or so. We haven’t paid down much debt but the debt as a portion of our gdp has been reduced as the economy has been growing, the same is going to happen again over the next number of years imo

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    Mute Peter Hughes
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    Jun 2nd 2020, 12:49 PM

    @Dino: people are not over borrowed hahahhahaah…..our private debt levels are up there with the highest on the plant and our public debt levels will be up their also soon enough….delusional.

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    Mute Dino
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    Jun 2nd 2020, 1:06 PM

    @Peter Hughes: Household debt now stands at 126 per cent of disposable income, a level last seen in 2003, having peaked at 212 per cent in 2009. However Ireland’s ratio is still the fourth highest in the EU. Ireland also has the 6th highest level of household debt in the EU on a per capita basis, at €29k per person. Considering where we were in 2009 and where we are now we are in a far far stronger position. Ps you can make a point and stand over it without having to try and ridicule the alternative position. I’m open to reading and listening to other people’s point of view but the way you put your point across does you no favours.

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    Mute The Guru
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    Jun 2nd 2020, 1:59 PM

    @Dino: Ireland’s finances while better than they were are still not great. It doesn’t really matter about Ireland’s finances though as we’re completely exposed to the global economy which is drowning in debt at the highest levels that have ever been seen. We were already at the end of a massive debt cycle and now an unprecedented global pandemic has been thrown into the mix. I can’t see any scenario where this just works itself out.

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    Mute Jeffrey Corrigan
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    Jun 2nd 2020, 8:43 AM

    I love reading about these so called experts predicting price increases in new builds when that will simply not be the case… houses need land to be built on and that price will come down so that’s where the builder will get his margin from.. also the price of oil has collapsed so the cost of transporting raw materials needed for construction has falling considerably as well so that will help the final cost of a new build.. the problem in this country is that there is too many vested interests in the property sector and it’s hard to find the truth of it all.. I live in a small town that relies on a couple of meat/ engineering factories for employment and they have already started laying off many of there current staff so how can the market stay the same if most of the town is out of work?

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    Mute Craic_a_tower
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    Jun 2nd 2020, 8:53 AM

    @Jeffrey Corrigan: why would the people who own the land sell it if they don’t need the money immediately? It is wishful thinking that the landowners would take the hit so building firms can make money. They held on to the land when property prices dropped but you think this time the will sell cheap or possibly at a loss. Don’t see that happening. You are trying to get all suppliers to cut prices when reality is the consumer pays for increased costs or there is no supply

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    Mute Jeffrey Corrigan
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    Jun 2nd 2020, 11:17 AM

    @Craic_a_tower: why did they sell it after the last recession in 2008 then? Your comment defies the laws of economics my friend… if a farmer with land is selling off let’s say 3x 1acres of land for house building for €80k a pop (generally what it is in Offaly) right now well I’m from Offaly and I can tell you that job losses will be severe down here,if you haven’t been reading the news about Bord na Mona I’d suggest you do so. if the farmer wants to sell that land there isn’t a prayer of him getting anywhere near that money for it when a huge percentage of the working age pop in the area is out of work.also the price of oil drives most things in an economy, the cost of getting to sites to work, materials etc so if the builder doesn’t pass on savings to the customer then they won’t sell..

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    Mute Craic_a_tower
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    Jun 2nd 2020, 12:06 PM

    @Jeffrey Corrigan: very few did sell the land after 2008. Some did but most held on to it like in every market. Fewer sell when prices are low. Supply and demand works that way. The same way houses near me weren’t up for sale when prices were low and when prices rose they sold them. So for your scenario the farmer won’t sell and the builder won’t build. The unemployed in the area will have nowhere to rent, buy or live. The builder and farmer don’t lose any sleep and have no plans to subsidise sale prices so people can afford them. You can talk of savings on fuel but it doesn’t matter. This is the laws of economics at play.
    The farmer has to be forced financially to sell his land and if they aren’t they have no need to sell. Supply and demand at the most basic level.

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    Mute Brian
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    Jun 2nd 2020, 7:25 PM

    @Jeffrey Corrigan: you may of course be right but you are making sweeping assumptions about land and oil prices and the impact on housing.

    House prices may drop on a small pool of sales as sellers and buyers wait for uncertainty to clear but I think any drops will be brief as there Was strong demand for housing pre covid and there is now a considerable bottleneck of demand as people wait for uncertainty to clear. More and more people are going back to work weekly and more importantly there’s many people working in large Irish organisations and multinationals that worked from home unimpacted so I just don’t see the drops some people are hoping for.

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    Mute John Staunton
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    Jun 2nd 2020, 7:01 AM

    It is hard to see house prices falling by 10% or greater when there is such a lack of supply of housing stock in the Country. Add to the mix, the new Covid rules for the construction sector which will put an additional 15% onto the cost of building or renovating and slow down supply even more.
    Construction Industry Federation says there is zero profit margin on house building at the moment so builders will not start new projects.
    Just wondering what if any evidence exists that such a fall in prices is about to happen or is it just wishful thinking?

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    Mute Eoin Scanlon
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    Jun 2nd 2020, 7:20 AM

    @John Staunton: if there was zero profit margin on building houses nobody would build them. Builders and developers are not charities. CIF have reason to play the poor mouth

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    Mute John Staunton
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    Jun 2nd 2020, 7:41 AM

    @Eoin Scanlon: That is my point exactly. With little or no profit margin, builders and developers will not get the finance to construct.
    The cuckoo’s have flown also which means their forward selling cushion, which they relied heavily upon for Banking purposes has disappeared.

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    Mute Peter Hughes
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    Jun 2nd 2020, 7:48 AM

    @John Staunton: And who can buy these homes?, its all about supply and demand…..if there is no demand because people cannot afford to buy at the present prices they will fall to levels where people can buy.
    Land prices collapse and building ones fall also because people lose their jobs on mass, it happens after a bubble.

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    Mute Dino
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    Jun 2nd 2020, 8:35 AM

    @Peter Hughes: it does happen after a bubble but we weren’t in a bubble so your point is moot. A bubble happens when people are over borrowed and there is too much housing stock. The last time this happened we were building circa 90k houses per year with an average yearly demand of circa 25k whereas we are currently building circa 21k with a demand of 34k per year for the next 10 years (higher than the average demand of 25k due to the building deficit of the last 12 years). Another reason for no bubble this time is the central bank loan restrictions which make it harder for people to save deposits and this in turn is creating a rental bubble but that is a seperate issue.

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    Mute Craic_a_tower
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    Jun 2nd 2020, 8:38 AM

    @Peter Hughes: you are missing the supply part of supply and demand. If there is no profit they don’t get built or put on the market. Demand will still be there but unless demand pays and the price of supply there won’t be anything so prices go up. You can be sure of one thing it means a worsening housing crisis

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    Mute John Moylan
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    Jun 2nd 2020, 8:43 AM

    @Peter Hughes: thats nonsense: you can’t adjust costs to below what they are, irrespective of (your) ability to pay. If it gets that bad, building just stops. No one can build at a loss.

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    Mute John Moylan
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    Jun 2nd 2020, 8:47 AM

    @Peter Hughes: some pretty basic maths fails there. Land prices won’t drop. It’ll get mothballed if its not economic to build on (I.e. recoup the cost of it + margin). Building materials continue to increase and new Regs from January 2021 sees even more costs added, not less.

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    Mute Marcas Ivarsonn
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    Jun 2nd 2020, 9:17 AM

    @John Moylan: people will lose their jobs and will be unable to buy or on the other side lose their house. Most people forced out of the market. There was already a downturn in the overpriced Dublin housing market with things starting to slow. If you want to leave your house on the market indefinitely leave it priced at it is. If you want to make a sale start with taking 10% off. People who lose their jobs are thinking less about profit and more about clearing their debts and massive mortgage repayment. I think people in Dublin need a reality check about the actual value of their houses and it’s coming.

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    Mute Dino
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    Jun 2nd 2020, 9:26 AM

    @Marcas Ivarsonn: people who don’t own property need a massive reality check re the value of property, you simply can’t build new houses for what the second houses were on the market for pre covid. People need to realise that this is the nee reality due to building regs and a huge portion will now likely never be able to buy at these levels and will be renters for life. House prices are not going to fall by anywhere near that much unless demand is met and demand can’t be met if the buyers aren’t there.

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    Mute Craic_a_tower
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    Jun 2nd 2020, 9:32 AM

    @Marcas Ivarsonn: or you just take it off the market and wait and change your plans. That is what has happened in the past when property prices drop. Higher price encourage people to sell. Not everyone has lost their job or will. The job losses will also be disproportionately distributed with low paid workers more likely to lose their jobs. There is already a huge increase in people seeking rent allowance payments. This is going to increase the demand for rental property. Some factors will change as some people will leave Ireland to return to home countries but less Irish will emigrate as there will be nowhere to go. Nobody can say for sure but there are more factors than you are considering

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    Mute Jeffrey Corrigan
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    Jun 2nd 2020, 11:39 AM

    @Craic_a_tower: ‘with low paid workers more likely to lose there jobs’ an absolutely disgraceful comment… who’s been working in the fast food, petrol stations etc during this crisis??? Those jobs are very secure seeing as they were still going during the crisis, it’s the higher paid jobs that have been on covid payments that are in most danger as employers will find it very hard to pay those salary’s in this economic climate once those payments stop, this country atm is being artificially held up by the government Covid Payments and the bank giving payment breaks on mortgages, loans etc and this will get very real for people when they stop (banks have already said they are) and once again this will drop demand for houses particularly in the capital

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    Mute Peter Hughes
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    Jun 2nd 2020, 11:50 AM

    @Dino: Ye are all absolutely delusional…..if we escape with just been able to borrow 10s of billions at a low rate that will be the best case scenario…..you are in for a rude awakening in the coming years all the money we are borrowing will have to be paid back…..more taxes, more jobless, more bankruptcies equals lower house prices, much lower house prices and much lower rents also.

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    Mute Dino
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    Jun 2nd 2020, 12:40 PM

    @Peter Hughes: I don’t think you understand economics, did we pay back all the money we borrowed for the last crisis? We will likely have to borrow 20 to 30bn (I’d estimate closer to 30bn) and the whole European and American economies will then look to grow their way out of the debt burden. If I earn 100k per year and owe 50k then my debt is 50% or my earnings, if I grow my earnings (economy) by 4% a year then after 10 years my earnings are 149k and my debt is now only 34% of my earnings. I haven’t paid any back but what I owe is a lot less than when I borrowed it 10 years previously. This is what countries have been doing for years

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    Mute Peter Hughes
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    Jun 2nd 2020, 12:55 PM

    @Dino: listen when a major recession hits prices do not stay the same or even raise as some had said on here…..once the covid payments dry up the reality of this situation will hit home fast…..its in the post. Banks will drastically cut back lending money like they did last time and house prices will drop like a stone…..they have already cut out the exemptions which let people borrow nearly 20 percent more than the 3.5 time wage cap for mortgages, this and the fact that they will cut back on loans given out will equal wakeup call…..when you wake up and you will remember you were told here.

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    Mute Dino
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    Jun 2nd 2020, 1:12 PM

    @Peter Hughes: I dont think we are going to have a “major” recession. The European central Bank is paying banks to take money and lend it to support the economy in Europe so I don’t see why lending should tighten up. This is not 2008 again the banks are not overstretched, they have huge capital buffers almost three times what they were required to have when we hit the recession the last time. People will be much more reluctant to walk away from their debts this time also as they had to out a huge deposit together to buy their houses so more skin in the game.

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    Mute Gary O CONNOR
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    Jun 2nd 2020, 6:59 AM

    A sweep by new vultures invited in again to clear all by FFG soon.
    Greens pay at election.
    Not rocket science at this stage…

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    Mute Marcas Ivarsonn
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    Jun 2nd 2020, 9:19 AM

    @Gary O CONNOR: greens will pay at the ballot box when people realise their policies will increase the price of everything and encourage more personal debt in the oncoming recession

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    Mute cybersecsteve
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    Jun 2nd 2020, 7:42 AM

    As long as people have money to buy the prices will not plummet. Something is only worth what you can persuade someone to pay. If people have money, and you want something but not at that price, you will be told to move aside for someone who does. While I don’t necessarily see prices go up, I do think they will stay pretty much the same.

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    Mute Marcas Ivarsonn
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    Jun 2nd 2020, 9:22 AM

    @cybersecsteve: most people won’t have access to money when they lose their jobs or take pay cuts to keep their job. House prices were already falling or peaking. Sales were starting to slow in an already overpriced market. Held to ransom by speculators and estate agents

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    Mute Dino
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    Jun 2nd 2020, 9:29 AM

    @Marcas Ivarsonn: They will still need somewhere to live so the government will be taking up the slack with rental subsidies. The prices aren’t dropping like in the last recession due to the lack of available properties to rent/live in. Its simple economics supply is not meeting demand.

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    Mute Craic_a_tower
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    Jun 2nd 2020, 7:43 AM

    Demand for housing is likely to increase as it was already and no reason to drop as we weren’t matching demand already. With people presumably having lost jobs a portion of the population will have no chance to buy while those who kept their jobs will. Banks may or may not be giving out loans to developers and customers. The only thing we can be sure of is a bigger housing crisis.

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    Mute Dino
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    Jun 2nd 2020, 8:39 AM

    @Craic_a_tower: 100% nail on the head there. The central bank loan restrictions are condemning a certain portion of the country to be tennants for their whole lives or at least a much more extended portion than previous generations. Its now much harder for people to buy houses to rent to these people too due to these rules so the lack of availability of rental units is causing huge upward pressure on rents. The whole thing is dysfunctional but its there is definitely no housing bubble.

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    Mute Kevin Thompson
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    Jun 2nd 2020, 11:08 AM

    Prices will ultimately go down for following reasons
    The Government will build affordable houses for people to buy, these will be built on public land and the buyer through the bank will pay for the cost of the property build.this will only need a short term initial borrowing to build the houses.
    Although there are is still the same demand for houses, the air bnb houses will come back on the rental market or be sold. People will either lose jobs or get a pay reduction and banks, regardless of allowing 3.5 times your salary may not qualify you for a mortgage if you job is deemed high risk. Already banks are telling people to renegotiate the price downwards by up to 5%. There will also be a mass exodus of foreign workers when they are asked to pay their high rents and they are unemployed. There will be immigration due to jobs. There will be a lot of old people who live alone or in nursing homes that will unfortunately die due to Covid .Cost of land is nearly the biggest cost of building a home, this will reduce as vacant land tax is properly enforced.rents will have to decrease as HAP schemes will become a thing of the past as there will be no money as a lot of people are unemployed and little tax coming into the economy . The low rent yields will frighten off investors.

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    Mute Dino
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    Jun 2nd 2020, 11:46 AM

    @Kevin Thompson: where do
    I start with this? In “my” opinion your logic is off on so many levels.

    1 government will build affordable homes, after I had a little chuckle I realised they will build affordable homes but they will only build a limited amount and will not be anywhere near the demand that’s required.

    2 air bnb is a much more limited stock than people realise and will temporarily be put back into the mainstream rental stock where there is huge demand (witness ever increasing rents)

    3 people will lose their jobs – the people who are most directly hit with covid are the hospitality and tourism sectors, these are generally renters not buyers so not a huge hit to buying demand. Even if they lose their job the government will have to pay rental assistance or see the homeless numbers rise even more than the 10k it currently is (not including the hidden homeless who can’t afford to move out of their parents homes).

    4 immigration due to jobs – there won’t be emigration as the whole world is in the same boat apart from Australia who aren’t taking in foreigners.

    5 homes freed up due to covid deaths – there has only been circa 600 deaths outside the nursing and only a small portion of those would have been living alone thereby freeing up a home to be sold.

    6 vacant property tax – simply isn’t working and people won’t build house below cost regardless of tax.

    7 hap schemes and the like are here to stay while homeless crises is as bad as it is. Of anything there will be more schemes as no government is going to watch the homeless numbers keep rising and rising

    8 with all the hap schemes and people not able to afford new homes the pressure in the rental sector us about to get mental therefore yields are going to keep going up and up.

    QED

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    Mute Kevin Thompson
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    Jun 2nd 2020, 12:29 PM

    @Dino: the amount of people in working in tourists are not irish or are students living at home. They will go back to their countries of origin. the government has already spend our budget for the whole year and beyond. they will not be able to pay the covid payment for too long, Mortgages and rent breaks will end soon. There number of old people dying to Covid will increase due to the amount of movement of people. there will be hardly any money for normal unemployment benefit, never mind HAP schemes and the like.the majority of Students will be taught online for the next year and will not require rental accommodation.We are currently in a recession and if things last more than another year we will head for a depression

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    Mute Dino
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    Jun 2nd 2020, 12:41 PM

    @Kevin Thompson: you are failing to convince me sorry, still too many holes in your thesis.

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    Mute Craic_a_tower
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    Jun 2nd 2020, 2:39 PM

    @Kevin Thompson: the ring of Kerry has been a tourist attraction from Victorian times. Are you trying to tell us the only people who will be effected by the lack of tourists are only foreigners or college students? It beggars belief that somebody would be so blind to not understand that people working at the front of the shop dealing with customers are the only ones going to be affected. That Irish college student may now now have unemployed parents who supply to the people providing services for tourists. All those farmers who also run B&Bs don’t exist either. You are wishing for a narrative that doesn’t exist

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    Mute Kevin Thompson
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    Jun 2nd 2020, 3:09 PM

    @Craic_a_tower: I was commenting more on Dublin, where the cost of houses are at the highest, In Temple bar, you would be unlikely to see too many Irish people working behind bars and in hotels, this might be different in more rural areas

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    Mute Craic_a_tower
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    Jun 2nd 2020, 3:49 PM

    @Kevin Thompson: there is still a huge amount of Irish staff behind the bars in Dublin City centre. What you are saying doesn’t make any sense. While there are more foreign nationals working in the tourism trade than other areas it is still strongly Irish. I still wouldn’t think foreign nationals outnumber Irish bar staff in Dublin City centre. There are plenty of foreign waiting staff but not in higher end restaurants and usually fast food places. It was always like this and was when I was a barman in Temple Bar 20 years ago. Dublin still only has 20% foreign nationals living here and they don’t all work in service trades with a huge amount in IT. I would say I work with 60% non Irish IT people.

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    Mute Gerard Lord
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    Jun 2nd 2020, 9:31 AM

    After Brexit and this .

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    Mute Val Ruscheniko
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    Jun 3rd 2020, 9:59 AM

    I’d like to know who the fortune teller was on this occasion. All these leprechaun doom and gloom artists seem to have proliferated of late (as have their “forecasts”). Too many idle hands around spreading shite and despondency, that would actually be better put to use assembling Xmas crackers or fortune cookies.

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    Mute Stephen Maher
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    Jun 2nd 2020, 7:12 PM

    Well there are no virtually no Dubs left working in Dublin city that’s for sure.
    Why are People waiting for a 10% drop in purchase price while interest rates are expected to rise? Crazy.
    Hurry up and get yer 10 year fix I say.
    And dont forget that a mortgage on an Average house , after interest and income tax are applied to earnings will cost between €750k to €1mil .
    The purchase price is a smoke screen.

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    Mute Dino
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    Jun 2nd 2020, 10:43 PM

    @Stephen Maher: 375k over 30 years is just 683k on 2% interest and on 4% is 1.24m which is far above anything we’ve seen for the past 15 years. If interest rates are at 4% the chances are we are in a high inflation cycle where interest rates are increased to reduce inflation to circa 2%. While you might end up paying back a multiple of the sale price the reality is with inflation you don’t really pay back anywhere near as much as it looks like.

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    Mute Stephen Maher
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    Jun 3rd 2020, 10:23 AM

    @Dino: Agreed, however, assuming you need to earn all of the money to repay the debt, all of these debt payments are After income tax.
    So a person would need to earn at least 20% above your stated figures. Give or take. The average house in Ireland actually costs 3 times the average. This fact Rarely mentioned

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