Episode 231. Are House Prices 10% Overvalued?
In this episode I discusses the current state of the Irish housing market, focusing on a recent report by the Economic and Social Research Institute (ESRI) that claims house prices are overvalued by 10%. I explore the implications of this finding, the affordability of mortgages, and the potential risks of a housing bubble reminiscent of the 2008 crash. I hope you find it useful and thought provoking.
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Takeaways
ESRI says House prices in Ireland are currently overvalued by 10%
The ESRI's findings are based on rigorous analysis of economic fundamentals.
Mortgage affordability is a significant concern for many buyers.
There is a risk of a housing bubble if prices continue to rise without corresponding income growth.
The 2008 crash serves as a cautionary tale for current market conditions.
Supply of new housing is not keeping pace with demand, exacerbating the affordability crisis.
Many potential buyers are overextending themselves financially in the current market.
Alternatives like co-living and micro-apartments are being explored but face regulatory challenges.
The risk of homelessness is increasing as housing becomes less affordable.
Future interest rate changes could further impact housing prices and affordability.
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Keywords
Irish housing market, ESRI, property prices, mortgage affordability, housing bubble, 2008 crash, rental market, housing supply, economic trends, investment properties
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#investment #realestateinvesting #propertyinvestment
