This post outlines David Begg’s op-ed in the Irish Times today, challenging the ‘Dublin Consensus’ on the necessity of a real devaluation and public expenditure cuts, and some of the principal reactions online so far, including the Irish Economy and thepropertypin.
Rent or buy revisited – what’s most important?
Figures from this blog on the rent-or-buy decision featured in today’s Irish Independent and have started some discussion on the most important factors for current prospective first-time buyers. This post includes a poll asking for your input on the topic, which will inform future posts on the topic.
Is it the right time to rent or buy? Vote now
Five years, six property markets, mixed fortunes
The last four years have been remarkable in the global property market – so remarkable that comparisons with nominal collapses in house prices of 95% (as happened in Georgian Dublin) are being seriously discussed. A quick examination of six different cities around the world since 2005 shows a whole range of experiences from collapse in Detroit to more recent falls in Hong Kong.
Property prices in six cities around the world, Jan 2005-Jan 2009
Where in Ireland has seen the biggest increase in unemployment?
My recent post on negative equity led to some discussions, particularly on irisheconomy.ie, about the financial (i.e. NAMA) and labour market (i.e. dole) implications of negative equity. Here, I use Live Register figures to work out which counties have been affected most by unemployment since the start of the recession. A group of counties from Laois up to Cavan appear worst affected, although all counties have seen unemployment at least double.
Unemployment in Ireland by county, April 2009 compared to 2005/2006
Irish house prices fall 4% since the start of 2009 – latest daft.ie report
Ireland’s property slump marked it second birthday today, with the news from the latest daft.ie report that asking prices for residential property fell 4.2% in the first three months of 2009. This latest drop in prices marks the eight consecutive quarter that prices have fallen.
As the official press release notes, the national average asking price [...]
Hair of the dog: With rents fallings, ECB cuts the only thing likely to drag yields above borrowing cost
The third and final (for 2008 anyway) instalment in the visualizations of Ireland’s property market takes a different look again to my recent posts on trends in prices and stock. Building on the measure of affordability on page 10 of each daft.ie rental report and a suggestion made on thepropertypin.com, it measures the gap between [...]
Ireland’s property overhang: Homeowners in Roscommon, Cavan and Leitrim beware
Last week, I posted a visualization of changes in asking prices for Irish property, since 2006, using the IBM Manyeyes tool. It’s proved very popular, not least with the crowd on thepropertypin.com. I’ve been happy to take suggestions on what’s the most important thing to be mapping and one suggestion – which ties in nicely [...]
