Korean Job Discussion Forums

[tfunk]

In theory, if things were to go belly-up for the Irish economy in a few years time what would be smartest way to prepare NOW?

If I save money in the bank then that doesn't make much sence if the Euro loses value in coming years. Should I stock up on baked beans, potatoes and Guinness?

[DrunkenMaster]

What is an "Irish economy"?

Is this some kind of racial slur?

[tfunk]

[JMO]

Property. Irish people are obsessed with it. My Dad has land, and I'm praying that Derry City spills out over the border in the next 20 years or so cos it could be worth a tidy sum.

[JMO]

[tfunk]

If the Irish economy goes belly-up, then what's the point in having property when nobody can afford to buy it?

You're definately right, in the present day, property is where the money can be made. I can't afford property right now, can't even afford a shoebox. Things are slowing down though. I guess I'm just panicking, I came back from Korea last September and got sweet FA for the Won. I'd hate to be there now..

[cj1976]

Just do what the Irish do best - have a drink and blame the English.

[it's full of stars]

Become an landlord. It doesn't matter if the economy crashes, people still need a place to live. If you provide low-medium cost housing you will never be short of a few quid.

You won't make a lot of money if the economy goes bad, but hold on to it and when the economy goes up again you're a winner. Just have enough to sort yourself out and see the property as a sleeping investment.

(Edit* added) Perhaps buy a property when the economy slows down and prices drop. Prices have dropped already but not enough.