House prices could drop by as much as 12% if housing output increases by 10,000 units a year., which found that increasing output would not necessarily lead to significant wage inflation in the construction sector.
"It's a basic fact I suppose that if you do increase the supply of housing, and keep everything else constant, then house prices will fall - there's no doubt about - but this is over quite a long period of time. A general view of construction work on an affordable housing scheme in Dublin. Picture by: PA Images/Alamy
Source: Real Estate Daily Report (realestatedailyreport.net)
ESRIDublin Seamus Coffey explained this. If we don’t build the extra 10,000 homes per annum prices will be 12% higher than they could be in 8 years
ESRIDublin So they won't be falling then.
ESRIDublin Need to move away from this, housing is an investment mindset. To housing is a home situation. Landlords making the easy money, leaves 100,000s of tenants with no disposable income at the end of month.
ESRIDublin That’ll be a drip in local property tax then?
ESRIDublin *over 8 years* Why did you leave that out?
They would drop even quicker if they were to put the houses that are already built in this country into State Ownership But theirs no profit in that ? Sure I don't know what I'm talking about 🤔 But do I 😳
They could fall twice that if input were to fall.
Cuckoo cuckoo Cuckoo , will come in and save us again...
House prices falling in US, UK due to increased interest rates. mortgages becoming unaffordable. Hence why borrowing rules were relaxed a few weeks ago. House prices will fall in Ireland to find buyers who can afford mortgages.
When were they ever correct
More rubbish. House builds increase - they’re having a laugh….
That's not what the vultures want
Are we still pretending they intend to build more houses?
Bollox, we built 85,000 in 2006 celtic tiger and house prices were crazy, FG has spent over ten years destroying the sector 😡 stop pushing this pro FG pro landlord shite
Good, they need to come down in price making them more affordable.
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House prices could fall 12% if more homes built - ESRIThe Economic and Social Research Institute has found that if housing output was increased by 10,000 units a year, house prices could fall by 12%. No akshually what would happen is that the houses would just be filled with transient tech workers who materialise out of thin air or else greedy vultures would buy them and leave them empty That's what O'Broin, Hearne etc say anyway. What we need is a state builder 🤪🤪 Imagine that 👀 An economic research organisation coming to the conclusion that the law of supply and demand is real Remarkable! But doesn't this mean that 'housing experts' like EOBroin RoryHearneGaffs & Orla_Hegarty are talking complete nonsense Say it ain't so! Great, let's do it.
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