http://jamesmcinerney.ie/2008/02/25/houses-for-sale/ A blog about, well, science, society and stuff... Tue, 07 Feb 2012 11:40:07 +0000 http://wordpress.org/?v=2.3.1 http://jamesmcinerney.ie/2008/02/25/houses-for-sale/#comment-460 sheepworrier Mon, 25 Feb 2008 15:10:00 +0000 http://jamesmcinerney.ie/2008/02/25/houses-for-sale/#comment-460 A few estate agent friends have said similar things Doc.<br/>I'm buying with the idea of selling it on in a few years and making enough money to buy somewhere I really want. As long as the interest in the mortgage is covered, I shouldn't have a problem, fingers crossed. <br/>The main issue I have is getting a decent enough area that I can rent a spare room if I need to. A few estate agent friends have said similar things Doc.
I’m buying with the idea of selling it on in a few years and making enough money to buy somewhere I really want. As long as the interest in the mortgage is covered, I shouldn’t have a problem, fingers crossed.
The main issue I have is getting a decent enough area that I can rent a spare room if I need to.

]]> http://jamesmcinerney.ie/2008/02/25/houses-for-sale/#comment-459 Dr. James McInerney Mon, 25 Feb 2008 12:31:00 +0000 http://jamesmcinerney.ie/2008/02/25/houses-for-sale/#comment-459 RTE have an article today that says that the ECB people say that the inflation of recent times was due to energy (oil) and food price increases and is likely to be temporary. RTE then say that some economists are predicting a reduction in ECB interest rates by April. RTE have an article today that says that the ECB people say that the inflation of recent times was due to energy (oil) and food price increases and is likely to be temporary. RTE then say that some economists are predicting a reduction in ECB interest rates by April.

]]> http://jamesmcinerney.ie/2008/02/25/houses-for-sale/#comment-457 Dr. James McInerney Mon, 25 Feb 2008 12:16:00 +0000 http://jamesmcinerney.ie/2008/02/25/houses-for-sale/#comment-457 My first mortgage was for 20 years - a bit short, but it was possible to do. now it is impossible for anybody to have anything less than a 35 year mortgage. You then struggle for 10 years, after which, given inflation in wages etc., it becomes easier to pay. However, the later you leave it, the more rent you pay and the more difficult to buy. I think you have to start small. The house prices seem to be linked to some extent on affordability - which is dependent on prices and interest rates. The prices have come back a little, so when the interest rates come down a little, the market might go up again. Interest rates began to go up at the end of 2005, but it might be another year before people have confidence enough to buy. My guess is that the time to buy is soon, but I don't know for sure. My first mortgage was for 20 years - a bit short, but it was possible to do. now it is impossible for anybody to have anything less than a 35 year mortgage. You then struggle for 10 years, after which, given inflation in wages etc., it becomes easier to pay. However, the later you leave it, the more rent you pay and the more difficult to buy. I think you have to start small. The house prices seem to be linked to some extent on affordability - which is dependent on prices and interest rates. The prices have come back a little, so when the interest rates come down a little, the market might go up again. Interest rates began to go up at the end of 2005, but it might be another year before people have confidence enough to buy. My guess is that the time to buy is soon, but I don’t know for sure.

]]> http://jamesmcinerney.ie/2008/02/25/houses-for-sale/#comment-455 sheepworrier Mon, 25 Feb 2008 11:52:00 +0000 http://jamesmcinerney.ie/2008/02/25/houses-for-sale/#comment-455 I'm actually looking to buy my 1st house at the momoent, but Belfast is such an awful place to buy - there's plenty of great developments, and alot of stuff on the market but they're mostly in dodgy areas - certainly not in areas where I'd want to spent the next 5-10 years. <br/>Its a waiting game that I don't like playing - pretty soon the prices will rocket again and I'll be forced to rent for another few years - absolute waste of money. I’m actually looking to buy my 1st house at the momoent, but Belfast is such an awful place to buy - there’s plenty of great developments, and alot of stuff on the market but they’re mostly in dodgy areas - certainly not in areas where I’d want to spent the next 5-10 years.
Its a waiting game that I don’t like playing - pretty soon the prices will rocket again and I’ll be forced to rent for another few years - absolute waste of money.

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