Ding Dong, the Witch is dead...

[rynnor]

That's all I needed to know

Inflation, and interest, are artificial products of the monetary system we live under. They are neither necessary nor an imperative of a system.

Thats the opposite of what I said - even under Communism with fixed prices there was inflation, even the Romans had inflation.

No matter what the system human activity generally produces an excess, this leads to valuable assets in limited supply gaining value.

 

[DaGaffer]

Dont buy assets during a bubble - not always easy I know but for instance I wouldnt buy Gold currently but I might buy Spanish property.

Unfortunately with property one may have little choice, especially if there's an overheated and undersupplied rental market, as there was in Ireland until recently.

I haven't bought here yet for the reasons you describe, but you'd be amazed at how complicit government was here in geting people to buy second or even third homes as investments, but then allowed housing stock to run vastly ahead of demand, something a lot of buyers were only dimly aware of until it was too late. It didn't help that this was an...unsophisticated...house-buying audience, seduced by a bubble they'd never experienced before.

 

[Calaen]

Unfortunately with property one may have little choice, especially if there's an overheated and undersupplied rental market, as there was in Ireland until recently.

I haven't bought here yet for the reasons you describe, but you'd be amazed at how complicit government was here in geting people to buy second or even third homes as investments, but then allowed housing stock to run vastly ahead of demand, something a lot of buyers were only dimly aware of until it was too late. It didn't help that this was an...unsophisticated...house-buying audience, seduced by a bubble they'd never experienced before.

Yup I have a buddy that put all of his cash into housing before it went pop, not looking good to see his cash at all

Me and the wife constantly look at moving to Cork to be closer to her family, but I just can't justify spending 350 thousand euro on a 3 bedroom house with a garden and a garage, especially as I want another child so add another 50k for the 4th bedroom. It's just mad over there.

 

[DaGaffer]

Yup I have a buddy that put all of his cash into housing before it went pop, not looking good to see his cash at all

Me and the wife constantly look at moving to Cork to be closer to her family, but I just can't justify spending 350 thousand euro on a 3 bedroom house with a garden and a garage, especially as I want another child so add another 50k for the 4th bedroom. It's just mad over there.

I know a lot of people in that situation. Its getting more managable if you're a new buyer - the house we rent is valued at 390K, 3 years ago our neighbours bought theirs (same design, 3 bed semi) for...750K! , and our rent has also nearly halved in the 18 months I've been here, whereas the rent I get for my flat in London has increased...

If you're coming from the UK it looks even worse though because the pound is in the toilet.

 

[Calaen]

Aye the pound/euro don't do me any favours, alot of Marguerites friends have left Cork for Canada and Australia due to the down turn in jobs, the husbands of her friends had all be made redundant or threatened with it so they sold up and left.

Guess it's just a case of waiting until it gets good for us to move.