Connect with us

News

Kilcummin pupils say goodbye to primary school

Published

on

0204052_Unknown-2.jpeg

By Michelle Crean

It was the end of primary school life for Sixth Class pupils in Kilcummin NS last week.

GRADUATION: Pupils from Kilcummin NS who graduated from primary school last week.

PJ DAY: Junior Infants pictured in their pyjamas enjoying themselves in Kilcummin NS back garden.

Fr. Jim Lenihan celebrated a beautiful graduation Mass, which was streamed on the Our Lady of Lourdes parish webcam.

Sixth Class pupils provided beautiful music and composed their own prayers for the ceremony.

"We wish the class every happiness and success in the future and we look forward to being reunited with them on September 15, when they will make their Confirmation," Principal Gillian Sheehan told the Killarney Advertiser.

"Our Parents’ Association kindly contributed to the purchase of class hoodies for each Sixth Class pupils. The final touches are being put to a year book for the pupils and they enjoyed cake and an activity filled week to mark their final days at Kilcummin NS."

She added that the Sixth Class group have worked so hard this year and managed to secure a series of awards for the school, including a local history award, the UCC European Citizenship award and Junior Entrepreneur Programme (JEP).

"Pupils from the class also sit on our Students Council, Active Schools Committee and Green Schools Committee. We are all very proud of all of their achievements. They have worked so hard and have taken their responsibilities seriously. The graduation Mass coincided with our school pyjama day! We hope that the morning ran smoothly for parents as they did not have to prepare uniforms!"

Continue Reading
Advertisement

News

Housing Will Never Be The Same

Last week I wrote about the pathetic investment options out there for Irish investors. Despite high ongoing fees (mortgage, maintenance, insurance etc.) and the actual headache of being a landlord, […]

Published

on

0249805_0244120MikeStockscopy_OK.jpg

Last week I wrote about the pathetic investment options out there for Irish investors.

Despite high ongoing fees (mortgage, maintenance, insurance etc.) and the actual headache of being a landlord, it’s easy to see why real estate functioned as the de facto investment portfolio for an entire generation.

Wealth creation was a rinse-and-repeat function where couples put money away until they had enough for the ‘next house’. As a result, we have an economy where 70% of household wealth is tied up in real estate.

Driven by the profits it created, Ireland became obsessed with owning real estate.

But real estate as an investment won’t be nearly as successful for our generation. (If you are able to get a house, that is)

All you have to do is look at the anecdotal evidence all around us to confirm this.

My parents bought the house they currently live in for 30k (pounds) 35 years ago. The house is now worth roughly 450k.

I typically despise these back-of-the-envelope calculations when It comes to property, given the endless variables and ongoing costs involved, but bear with me.

That’s a gross return of 15 times the original value. Now there are upgrades, a change in currency and other adjustments to consider here, so for argument’s sake, let’s call it 10X.

To achieve the same level of growth over the next 35 years, you would be left paying 4,500,000 euros for what is a pretty modest house.

Sure, we will still see property prices increase over time, but the rate of growth won’t be anywhere near as meaningful for one simple reason.

Interest rates.

Artificial Growth

Over the last 30 years, real economic growth has been stagnant, yet Ireland has experienced enviable nominal growth.

How did we manage it?

We created imaginary wealth.

We pushed interest rates lower and lower to stimulate economic growth.

And it worked.

After all, if you make 100k/year you can probably afford a 400k mortgage at 4%. At 2%, with the same 100k/year salary you can now take on 600k in debt.

So, were we getting richer, or was the debt just easier to afford?

Where do we go from here?

We have now squeezed interest rates as low as they can go.

The house price appreciation we have seen was justifiable because the mortgage rates on housing continued to fall in recent decades. This allowed people to take on more debt without severely impacting their ability to repay that debt.

If we go back to my parents, they were paying 14% on their mortgage. Mortgage rates are currently between 2 to 3%.

A relentless drop in interest rates gave way to higher and higher prices for houses, but interest rates are now on the floor.

The juice has been squeezed.

In fact, the trend has started to reverse, with rates expected to rise 1.5% in the first half of 2023

Be mindful that the same credit expansion cannot happen again.

How the next generation thinks about their investment options has to change.

Banks offering 0% returns for the use of your money and a housing ladder you can’t get on are not your only two options.

If you need help creating your own investment portfolio, just reach out to me at mike@theislandinvestor or simply scan the QR code above.

Attachments

Continue Reading

News

Biddies performance celebrates St Brigid

Two local Biddies groups performed at Muckross House as part of St Brigid’s Day celebrations in aid of Kerry Parents and Friends Association. The Killarney Parents and Friends Biddy Group – formerly […]

Published

on

0250189_Beaufort_Biddies_Muckross2.jpg

Two local Biddies groups performed at Muckross House as part of St Brigid’s Day celebrations in aid of Kerry Parents and Friends Association.

The Killarney Parents and Friends Biddy Group – formerly known as the Beaufort Biddy Group – and Kilgobnet Biddies came together for the event.

The tradition of the Biddies is one of the oldest and most colourful customs in Ireland, a blend of pagan and Christian pageantry, held on February 1 each year, heralding the beginning of springtime and honouring St Bríd the patron saint of the farming community.

Master traditional craftsman, Pat Broderick, at Muckross House, was also part of St Brigid’s Day celebrations, making a St Brigid’s Cross as part of the traditions.

 

Continue Reading

LOCAL ADS

Last News

Advertisement

Sport

Trending