John Ó'Ríordáns Blog

I am glad I held off on buying a house when everyone was putting pressure on me to do so. I was telling everyone that there was no way prices could stay that high. If you looked at other countries houses prices were not as high as ours compared to GDP. Well today in the Independent I saw an article saying they are €100,000 less on average than 2007. I hear they are back to early 2000 levels now.

I’ll have to figure out how much money I’ve paid on rent since 2000 and now and see if it equals €100,000. I’m sure it would.

Lets see, lets assume I paid around €400 a month, I paid less in early 2000 but let’s go with that. So in 10 years x 12 months I would have paid rent for 120 months. That’s 120×400 = 48,000. So if I bought a house now I would have saved €52,000 over someone who bought one in early 2000. Cool!