What does Quarantine’s End Mean for Property Prices?

Dublin property agents predict that local property prices can see as large as a 5% increase as the lockdown regulations are lifted in the upcoming months. Many agencies have reported a large influx of registered potential buyers, some firms even registering nearly tripe the number as the same period in past years. This rush of buyers is largely due to the pandemic putting stops to many families’ plans of setting and signing mortgages. For others, it may be the desire to invest in a discounted property before prices skyrocket. Regardless, the sudden increase in demand for properties is sure to cause discrepancies within the real estate market.

Several factors driving demand include the strength of new mortgage approvals in the last quarter of 2020, and the growing availability and willingness of mortgage-lending rule exemptions of banks to offer to potential borrowers in 2021. There has also been a large group of potential buyers who have recently obtained loan approvals and are potential targets for these mortgage-lending rule exemptions in the past 6 months.

As for the number of properties in …

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What Does the Biden Administration bring to Ireland?

With the inauguration of Joe Biden, an ending of the four years of the highly debated Trump Administration begins. Many people are overjoyed with the change in power, but there is also some doubt. The main focus of Biden, as stated in his inauguration speech is to “restore the soul of America”, but what does that mean and entail for Ireland and our relationship with the US?

The effects of US government policies have long-lasting effects on the Ireland economy. Especially changes in corporate tax code on the US international companies that operate within our borders, employing nearly 160,000 people. These businesses are the case of nearly a €7 billion unforeseen fall of Irish corporation tax receipts over the last half-decade. The Trump administration was a strong advocate for tax reforms aimed to bring said organizations’ operations closer to home in the US. This included nearly a 10.5% charge on global low-taxed income, or otherwise known as the Gilti tax. The Gilti profits tax has been set far too low, and therefore did not discourage US companies to shift their …

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Stop Overspending

Everyone is open to a great deal. If you know an item is really high quality and something you will use often there is no issue making room for that in your budget. Tracking how much you spend is something an individual should not overlook. Tracking helps people create alertness for some areas to cut back especially in the areas where you wouldn’t notice the difference.

Here some items people overpay for and how to correct them.

1: Monthly metro card.

For those who live in the city, many workers and students find it easier to buy an unlimited card rather than buying one for each trip. It may be convenient but is it really worth it? Most individuals before the pandemic would ride about 8 trips each week on the subway. Metro transportation companies know that. That is where they trick their riders. The typical individual would not calculate the ride each month and how much they could actually save if they bought individual tickets instead.

2: Dry cleaning.

All of us have special clothing we need to keep …

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An Upcoming Change in Technology

One industry that is expected to see much change as the administration in the US White House changes out is technology. As not only an industry sector but also as a tool for the public and a policy. The relationship between the government and social media, communication apps, and surveillance technologies in the world have changed vastly during the Trump administration. The sudden increase in the role of live-streaming events, whether they be violent riots and protests, or current events can’t be ignored anymore as we have the power as a society to access information from any time, anywhere just by pulling out our smartphones.

The role of technology during the Trump administration has certainly been darkened and undermined. Technologies and techniques that were meant to publicize and open doors for democracy were equally used for spreading falsehood, fake news, discrediting valid sources, and promoting hatred, violence, and racism. These actions have shown how technology itself isn’t rather bad, but it depends on the wielder. And all-in-all the wider implications of using technology have not been seen. With proper attention …

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Economic Results of the New US President

The swearing-in of the new US President; Joe Biden, has caused many discrepancies in the world stock market and the value of the dollar this past Thursday. Stock prices are skyrocketed, and the dollar fell as investors began to bet major stimulus. Surprisingly, Asian stocks have reached all-time highs overnight and are predicted to keep rising. MSCI’s global index shows that nearly 50 countries added 0.3% to the 76% rally since the market crash due to COVID last March.

It has been reported that Republicans in the US Congress have stated they will cooperate with the Biden administration in the US’s top priority $1.9 trillion fiscal-stimulus plan to get the economy up and running. There are still some oppositions against the plan, but the final amount is expected to fall at least 5% of the US gross domestic product. Chief economist at BNY Mellon investment management; Shamik Dhar states that the benefit of a larger stimulus is viewed as outweighing the negative impacts of regulation and taxes. He supports this fiscal-stimulus plan and expects the monetary policy to remain largely …

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Higher Loan Growth Expected as the Pandemic Lifts

Spain’s large lender company: Bankinter, which currently owns Avant Money, has published new research results. These results predict the outcome of loan growth and higher lending income across its citizens and markets as lower provisions led to its 4th-quarter profits to fall less than in previous quarters.

The lender identified possible success within its Irish market business. Especially for the reason of offering credit card, home, and mortgage loans. After releasing these research results, we saw Banklinter’s shares rise by more than 7% this past Thursday after it stated that is their net interest income would be growing in 2021 despite the negative interest rates in the first half. Net Interest Income (NII) is defined by the difference between the company’s’ earnings on loans and the costs.

Bankinter’s chief financial officer, Mr. Diaz, has spoken up and told analysts that the company is expected to show strong actives of loan growth in both mortgage and consumer lending in Ireland, Spain, and Portugal. This is shown by Net profit at the bank falling to 8.7% to €97 million compared to €115 …

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Healthy Relationships with Money and your SO

Lots of people say money complicates things. Well, it may be true in some situations but being transparent about your significant other and money is important. Over the years you will attract what you are worth and what you put out there. How you act to others is a direct effect of how others will view you, this is not only for significant others but friends, family, etc. You worried you are with the wrong person or attracting the wrong people you might need to start reevaluating yourself.

Speak to your partners. Do you like saving money? Do you like investing? Do you like getting good deals? Communication is key. Being on the same page with each other is important to know each other’s values. By doing so, as partners you can start compromising to avoid unsaid annoyances. Letting each other know right from the beginning shows exactly who you are and who they are. It makes it easy to find someone like you or believes in the same things as you.

Money may be a taboo topic. Having conversations …

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The Rising Demand for Work Permits

During 2020, slightly over 16,000 employment work permits were issued to workers from outside the European Economic Area (EEA), despite the limited travel limitations and job opportunities due to the COVID pandemic. This has been the largest amount of work permits issued out since the beginning of issuing said permits in 2009.

Many of the companies that are searching for employees are those int eh social media, meat, or healthcare industry. Healthcare workers took up nearly a third of all work permits issued and received last year at over 5000 workers recruited from outside the EEA. The second-largest sector is the IT sector following up with around 4700 permits. Interestingly, over a third of last year’s total was issued to workers that came from India, totaling nearly 5800 permits. Following that, 1800 permits came from Brazilians and over 1000 came from Palestinian workers.

Some of the largest companies to make use of these work permits included Amazon, Accenture, Facebook, Google, and Dawn Meats which is one of Ireland’s largest meat processing companies. Despite the pandemic occurring and even at the …

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What Led to the Global Crisis?

Everyone has been affected in some way by the Global Financial Crisis of 2008, whether they realize it or not. And what led up to this bubble and crash was in large part due to Mortgage-backed securities. These securities were very attractive to the public, with higher interest rates and highly rated by credible credit rating agencies like Standard and Poor. And with the sudden market demand in the housing and real estate industry, many of these mortgage-backed securities had funding that was put into the market, which eventually built up a self-made cycle. People wanted to buy houses and so the mortgage was sold to banks by mortgage companies. This led to banks packaging the mortgage with other investments and the mortgage-back securities were sold to investors. The investors’ money was then used to create more money for mortgage lenders to therefore offer. Due to the contributing funds, the public that had lower credit scores started to skip on their mortgage payments. Many companies were sunk due to poor mortgage lending decisions.

But while inadequate mortgage and mortgage-back securities …

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First-Time Mortgage Buyers

The COVID Pandemic may have been a financial detriment to many, but there are also families that have been saving due to the lack of activities to participate in. After the lift of quarantine, there is expected to be a rise in the real estate industry. With so many individuals looking to find a mortgage plan, we have comprised a couple of tips on how to use your money more efficiently.

The first major actions to take are opportunities to boost your credit file. If you look online, there are thousands of articles on how to do so. But for an official site, there is none better than the Money Advice Service list. Here are just a couple of ways to improve your credit score:

1: Pay your bills on time. This may sound obvious, but many people overlook this. With being able to pay all your bills on time, there will be no more drops in your credit score, and it can only go up from there.

2: Register yourself on the electoral roll. This is such a quick …

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