The prospect of further falls in house prices does not unduly worry Brian McGhee.
The Dubliner is about to take the plunge and buy his first house.
He has mortgage approval and is anxious to strike out on his own as he lives in his sister's house at the moment.
"I don't think prices will drop much more in the next while," he said.
But Mr McGhee, a motor engineer who is an assessor with Quinn Direct insurance company, is worried about income-tax changes and the prospect of further pay cuts.
Mr McGhee is from Crumlin in Dublin city and is looking for a second-hand house he can refurbish in the Kimmage area.
He already has a deposit and has mortgage approval from a number of banks after using the services of Irish Mortgage Brokers.
"I am nervous about the idea of buying a house because of the fear of further wage cuts and because of the impact of income-tax changes. But I have no choice as I can't continue to sponge off my sister for the rest of my life," he jokes.
He is hopeful that he will have signed on the dotted line for his own home by the summer.