Record house prices "linked to more lax lending rules". Intent replaces negligence.

It just goes on, and on. Yet another report confirming that the house price bubble promoters are well and truly running the show in this republic in 2017. Once again house price rise is not just the obviously deliberate lack of supply that is the result of the state refusing to get back into building houses.

A major part of the current bubble is this government -with its solid support from Fianna Fáil and others keeping it in power, in case anybody wants to forget that - undermining Central Bank rules by making it easier for people to borrow more money than is wise and thus, with more money chasing even fewer houses, prices are only going up and the property developers and the like are back on the pig's back. And there's also that minor matter of building standards also being lowered by this government "to encourage builders to start building again". How utterly myopic can government policy become in so many ways? They aren't even looking two years down the road. Utterly astounding. Cowboys and crooks, gombeens and gobshítes, have formed Irish government housing policy. The ineffable shortsightedness of it all.

At this stage, Irish government housing policy is far, far beyond negligence. It is a deliberate policy designed to push house prices up, get heavily indebted builders to pay back their loans and pass new ridiculous levels of debt on to new purchasers who have increasingly very, very little choice but to buy (as the rental market is, again by design at this stage, a bastion of financial and home insecurity for any family). Meanwhile, just as they did in 2006, huge swathes of Dublin voters feel better because their property has gone up much more than they paid for it. So the distorted, stitch-up which qualifies as the property market will continue in this glorious "free market" that rightwingers love to contend exists.

This state will continue to hold future generations of house purchasers to ransom by maintaining, encouraging and Jesus Christ you couldn't invent it but actually giving tax incentives to people who build lower standard homes at higher prices than ever. In 2017. These people in Fine Gael and Fianna Fáil who have designed this malevolent government housing policy need to be outed for the threat to the stability of the Irish state that they, once again, are. No "mistakes" here, no "poor policy". Spare the euphemisms. Nothing but my complete contempt.



Average cost of three-bed semi in Dublin now above €400,000

Allinall

It's the people paying the inflated prices that are to blame.

No one else.

Allinall

Allinall wrote: »

It's the people paying the inflated prices that are to blame.

No one else.

Of course. Because the options for renting substandard homes at inflated prices are absolute fantastic, with great security of tenure for people who have a young family attending local schools...

biko

Limerick €197,000 1.03%
Tipperary €147,250 -5.91%
Galway €190,000 -2.06%

Winterlong

Allinall wrote: »

It's the people paying the inflated prices that are to blame.

No one else.

No no no. You cannot expect people to be responsible when it comes to making the largest purchase of their lives and taking on a life changing debt.
Best of to blame the government and the banks from the outset.

Winterlong

Winterlong wrote: »

No no no. You cannot expect people to be responsible when it comes to making the largest purchase of their lives and taking on a life changing debt.
Best of to blame the government and the banks from the outset.

Stop talking shíte of the most ignorant, immature sort.

andekwarhola

A relatively normal amount of rental opportunities might be a better vantage point from which to preach at home buyers that take the plunge, especially families.

Winterlong

Deleted User wrote: »

Stop talking shíte of the most ignorant, immature sort.

Sorry that my post did not go along with your narrative.

Could you put a warning in the OP that only those who agree with you can post in here?

Your Face

I think its the immaturity in the rental market that's to blame.

Zebra3

People vote for right wing candidates who then enact right wing policies.

I for one am shocked. :rolleyes:

fizzypish

Allinall wrote: »

It's the people paying the inflated prices that are to blame.

No one else.

Harsh harsh harsh outlook. Not in this position in my life yet but would you put your life on hold/limbo for the betterment of the economy? I would wager that people pay these prices due to being stuck between a rock and a hard place.

Your Face

Zebra3 wrote: »

People vote for right wing candidates who then enact right wing policies.

I for one am shocked. :rolleyes:

Well I for one miss Labours years of administering their socialist utopia.

andekwarhola

Winterlong wrote: »

Sorry that my post did not go along with your narrative.

Could you put a warning in the OP that only those who agree with you can post in here?

What would your advice (from the obvious Mt Sinai of your omniscience) be to normal families looking to settle down somewhere?

Put up with punitive upward rents, put their kids in the local school and roots down in an area and pray that their accidental landlord doesn't suddenly decide to sell the property from under them in the next year or so?

Should they go inter-railing or take a gap year or something?

Winterlong

andekwarhola wrote: »

What would your advice (from the obvious Mt Sinai of your omniscience) be to normal families looking to settle down somewhere?

Put up with punitive upward rents, put their kids in the local school and roots down in an area and pray that their accidental landlord doesn't suddenly decide to sell the property from under them in the next year or so?

Should they go inter-railing or take a gap year or something?

Is it unreasonable that I say people should be responsible for making their own financial decisions, especially when it comes to a massive one like buying a house?

stimpson

The government gave been fiddling with the market for years like the boy with his thumb in the dyke. The only thing they haven't tried is the one thing that will moderate prices: get more houses built.

There is 10 years of pent up demand. An entire generation that have been patiently waiting to buy a home. Without a corresponding increase in supply prices are only going one way. This is first year economics stuff.

andekwarhola

Winterlong wrote: »

Is it unreasonable that I say people should be responsible for making their own financial decisions, especially when it comes to a massive one like buying a house?

It being AH, people simply look at their own particular situation, add a dollop of moralizing and serve it up as an absolute position.

I'm sure a lot of people that buy houses at a certain price point do so highly reluctantly because they have ties to an area, like schools or whatever, and the rental market is just too flaky and insecure for long-term stable tenancy.

I doubt they're laughing and offering the vendor an extra 50k for the sake of conspicuous consumption.

We rent out a house to a family and we could basically decide to sell it, turning their life upside down. Not that we will, but you get my point.

Vic_08

Winterlong wrote: »

Is it unreasonable that I say people should be responsible for making their own financial decisions, especially when it comes to a massive one like buying a house?

It is unreasonable to ignore the circumstances that people are in where their only choices are between equally poor buying or renting options.

osarusan

Allinall wrote: »

It's the people paying the inflated prices that are to blame.

No one else.

That's just as simplistic as the opening post.

Allinall

osarusan wrote: »

That's just as simplistic as the opening post.

Sometimes the obvious is just that- obvious.

Yourself isit

Winterlong wrote: »

No no no. You cannot expect people to be responsible when it comes to making the largest purchase of their lives and taking on a life changing debt.
Best of to blame the government and the banks from the outset.

If property stays high and you stay out eventually you are too old for a mortgage. Nobody wants to over spend.

Yourself isit

One of my siblings stayed out of the madness in 2006 although he lost his job later in 2010. He's now back at work, past 40, and his family is in insecure rental housing. What's his option. Wait until he is fifty? He would prefer if housing were cheaper but it isn't.

It's always government policy.

Wheeliebin30

The goverment is building 50,000 houses by 2020 costing 3 billion,

Remember 5 years ago we had people laughing at the thought of a housing shortage.

The rental market was dead and the house buying market.

It will catch up with itself soon enough.

Remember the country is just getting out of the worst financial crisis ever. Borrowing day to day just to keep it afloat.

Short memories.

KERSPLAT!

Just remembered I've to put the wheelie bin out tonight.

Wheeliebin30

KERSPLAT! wrote: »

Just remembered I've to put the wheelie bin out tonight.

Seriously?

No seriously?

Sigh.

KERSPLAT!

I never joke about wheelie bins.

whoopsadoodles

Wheeliebin30 wrote: »

Seriously?

No seriously?

Sigh.

Yes, wheelie.

steddyeddy

Winterlong wrote: »

Sorry that my post did not go along with your narrative.

Could you put a warning in the OP that only those who agree with you can post in here?

Well it was nonsensical to be fair. Lending practices played a large part in the first recession.

whoopsadoodles

Winterlong wrote: »

Is it unreasonable that I say people should be responsible for making their own financial decisions, especially when it comes to a massive one like buying a house?

What do you suggest for families unable to find rental accommodation anywhere near where the parents work and the children attend school?

What would be their best option do you think?

steddyeddy

whoopsadoodles wrote: »

What do you suggest for families unable to find rental accommodation anywhere near where the parents work and the children attend school?

What would be their best option do you think?

It all comes down to choice apparantly......

Allinall

steddyeddy wrote: »

Well it was nonsensical to be fair. Lending practices played a large part in the first recession.

What about borrowing practices?

Allinall

whoopsadoodles wrote: »

What do you suggest for families unable to find rental accommodation anywhere near where the parents work and the children attend school?

What would be their best option do you think?

Where are they living now?

And how many families are you talking about?