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by lin_lin 3140 days ago
> It's deja vu all over again.

Except for the lack of readily available credit. For the most part, it seems the people paying the high prices are "able" to afford it. The problem is that home ownership (and the security that brings, particularly in Ireland) is not attainable for most young people and families anymore.
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opportune 3140 days ago
Could this be a result of Ireland being somewhat of a tax haven? If there's a lot of capital just sitting in Ireland waiting to be repatriated, it might make sense to invest that money within Ireland in the interim. That would increase demand for housing in the short term. The main thing to worry about would be that your housing market could experience a crash whenever that money does get repatriated
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T-A 3140 days ago
> Could this be a result of Ireland being somewhat of a tax haven?

In short, no. It's not as if the EU lacks capital markets.

Also: "Is anyone really so naive to imagine that these balances are not already fully available to finance new investments by U.S. companies here? Do they think the global financial system is that unsophisticated? At present interest rate levels, a company needs only to issue debt at favorable rates in the U.S., invest the funds held abroad at floating rates, enter a fixed-floating interest rate swap, and voila, the company has access to the funds exactly as if they had been brought home. Indeed, this is just what many U.S. corporations appear to have done. So cry me some crocodile tears for companies that hold profits abroad." [1]

[1] https://www.hussmanfunds.com/wmc/wmc170821.htm

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lin_lin 3140 days ago
> Could this be a result of Ireland being somewhat of a tax haven?

Not really. The problem is that building all but stopped in the aftermath of the 2007/8 crash. Meanwhile the economy recovered, Dublin in particular is booming now but we're still lacking enough homes to meet demand and building never recovered to the necessary levels. Add in a reluctance for "building up" and a growing population, that gets you higher and higher prices...

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Supernaut 3140 days ago
No, it's nothing to do with Apple's tax arrangements. They're not in the business of buying houses. It's a simple supply and demand issue. There are a lot of young people who want to buy a home, and not enough housing stock to meet their requirements.
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opportune 3140 days ago
Apple isn't the only entity with assets in Ireland
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