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