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you should just "GET OVER" ever owning a home says PP boss

  • 17-06-2016 12:36pm
    #1
    Registered Users Posts: 4,151 ✭✭✭ kupus


    http://www.independent.ie/business/personal-finance/property-mortgages/get-over-the-idea-of-buying-a-home-says-paypal-boss-34809212.html

    Hmm, it looks like that thinking is here to stay. Why should somebody own a home. Wouldnt it be better for a hedge fund to own it. you just pay rent for the rest of your natural life. your kid pays for their life and on and on and on.

    why should you have the hassle of trying to get a bank loan, trying to save years for a deposit then paying housing tax on top of that. ANd isnt it great that these funds recirculate the money around. Instead of it just going to the bank for a mortgage.

    I mean it couldnt possibly be in her interest that "probably" her pension fund finances these hedge funds to buy housing blocks.
    Could it?

    So AH what do you think of these people and their fantasy to own their own home


«13456713

Comments

  • Registered Users Posts: 2,492 ✭✭✭ stoplooklisten


    has she declared her own property ownership?


  • Registered Users Posts: 1,077 ✭✭✭ percy212


    I really like renting and did so for many years in the US. Currently I am trying to purchase a home in Ireland because five years of renting has been downright scary re. lack of tenure, and no price controls.


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  • Banned (with Prison Access) Posts: 2,570 ✭✭✭ HensVassal


    I think she is right , too much in the Irish mindset that you need to own your home, it's been drilled into generations of people that they should own a home.

    Do you own a car or rent one?


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  • Registered Users Posts: 4,151 ✭✭✭ kupus


    People was us to be more "european" when it comes to home ownership


    Where's our 1.5% fixed 10/15 year mortgages like our European counterparts are enjoying at the moment?

    Aha, who exactly does this benefit by is being more european?


  • Closed Accounts Posts: 2,681 ✭✭✭ Fleawuss


    kupus wrote: »
    http://www.independent.ie/business/personal-finance/property-mortgages/get-over-the-idea-of-buying-a-home-says-paypal-boss-34809212.html

    Hmm, it looks like that thinking is here to stay. Why should somebody own a home. Wouldnt it be better for a hedge fund to own it. you just pay rent for the rest of your natural life. your kid pays for their life and on and on and on.

    why should you have the hassle of trying to get a bank loan, trying to save years for a deposit then paying housing tax on top of that. ANd isnt it great that these funds recirculate the money around. Instead of it just going to the bank for a mortgage.

    I mean it couldnt possibly be in her interest that "probably" her pension fund finances these hedge funds to buy housing blocks.
    Could it?

    So AH what do you think of these people and their fantasy to own their own home

    There is a serious corporatization of the country going on now: upcoming generations are going to be made into little more than sources of a revenue stream for multi national corporations. There is no society in Thatcher's infamous phrase. To counter the negative "turn back the clock to the 19th century" approach of the corporations, hedge funds and the 1% there needs to be a unified response across Europe from unions, environmentalists and others. Chances of that? I know.:mad:


  • Closed Accounts Posts: 4,882 Saipanne


    1/5 of adults own a property in Switzerland. They must be going through dire times in that country...


  • Registered Users Posts: 22,384 ✭✭✭✭ Conor74


    Saipanne wrote: »
    1/5 of adults own a property in Switzerland. They must be going through dire times in that country...

    Nazi gold...:o


  • Closed Accounts Posts: 4,981 ✭✭✭ KomradeBishop


    It's a good example of how increasing inequality, isn't just about the well off bettering their lot in life by making themselves more wealthy, and making society more 'productive'/better-off (for the better-off in large part...) - a big part of it is about making everybody else less well off, so that the more well off can suck up rents from the rest of society, in order to better secure their own future wealth/power.

    I'm amazed at how complacent people seem to be, in the face of the housing/rental crisis - it doesn't really seem to be affecting peoples view of the big picture politically/economically a whole lot - the people most negatively affected by it still seem to be relatively powerless overall, and not that bothered about being politically active.

    Even the whole narrative surrounding the housing crisis here and elsewhere, still seems to be dominated by those who either stand to gain from (or who just reflexively seek to uphold) the status quo.


  • Registered Users Posts: 24,007 ✭✭✭✭ Timberrrrrrrr


    and why shouldn't they? what's wrong with owning you own home?

    I never said there was anything wrong with it, I said too much pressure has been put on generations of people to do so.


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  • Users Awaiting Email Confirmation Posts: 976 beach_walker


    I think you'd be mad not to be looking at some form of home ownership in this country.
    ...which is examining how Dublin will look in 34 years' time



  • Registered Users Posts: 9,252 ✭✭✭ FTA69


    Saipanne wrote: »
    1/5 of adults own a property in Switzerland. They must be going through dire times in that country...

    The difference being that continental European tenants tend to have excellent tenant rights with secure tenure and decent rent structures instead of the total sh*tshow we have in Ireland and the U.K.


  • Closed Accounts Posts: 20,298 ✭✭✭✭ Jawgap


    HensVassal wrote: »
    Do you own a car or rent one?

    I lease. it makes more sense with a depreciating asset.

    Home ownership is not for everyone, but it seems in this country people are convinced otherwise.


  • Closed Accounts Posts: 2,709 ✭✭✭ Baylor Long Riverside


    I wish we could be more like some continental countries where renting is a very safe and secure alternaive to buying your own property.

    Too many people end up with a millstone around their neck here, paying off a mortgage on a house they don't particularly like, in an area they don't particularly want to live in. They can't take a job in another part of the country because the cost of moving would be too high, they can't move to an area they'd prefer because stamp duty, legal fees etc are prohibitive, they can't take any risks whatsoever with their careers because if they default on their mortgage their credit rating is ruined.

    People who can't get on the ladder are made to feel like 'losers' because they're still renting in their forties or fifties.

    There has to be a better way.


  • Closed Accounts Posts: 3,478 ✭✭✭ eeguy


    The government need to get off it's arse and initialise a housing program. Compulsory purchase the hundreds of acres of unused wasteland in Dublin city and surrounding areas, rezone for high rises and tender for developers.
    Sell the houses for a marginal profit and rinse and repeat.
    Redevelop the hundreds of crumbling "protected" buildings.

    Individuals have neither the capital or the power to do this.
    Developer will only jump through these hoops for a large payout.

    The Government hold the keys to solving this crisis and they should act as soon as possible.


  • Registered Users Posts: 2,492 ✭✭✭ stoplooklisten


    there's loads of empty properties around the place, they;re been held off the market to held inflate it


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  • Registered Users Posts: 7,494 ✭✭✭ BrokenArrows


    Countries who dont have the "must own" mindset have reasonable rent prices and a solid supply of properties to rent.

    Places like Ireland and England who have the "must own" mindset change asmuch as they can possibly charge and they will get it because the supply is low.

    But regardless of how you look at it if you rent for a life time you will spend far more than a mortgage. Probably 4 times more. Due to rent keeping up with inflation, where as a mortgage value remains the same and you just pay the interest and your salary keeps up with inflation usually so you are actually paying less.


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