Saturday 16 December 2017

My friend bought a house at peak of the market, but look who's laughing now

'Today, city rents have risen by up to 10pc in the last year and are expected to hike again in the argy bargy and price jostling before a two-year lockdown under Minister Alan Kelly's 'rent certainty' measures kick in'
'Today, city rents have risen by up to 10pc in the last year and are expected to hike again in the argy bargy and price jostling before a two-year lockdown under Minister Alan Kelly's 'rent certainty' measures kick in'
Mark Keenan

Mark Keenan

Back in 2011 a homeowner who had stretched to €400,000 to buy a property with a friend was loudly bemoaning her decision to purchase in 2005.

She had bought almost at the top of the market and her Dublin home was now worth less than half of what she had paid for it. Had she waited until the crash kicked in, she could have picked up a property for a song, she moaned.

But I promised our 2005 buyer that, within five years, she would be glad of her decision to buy.

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