How can someone in their 30s afford a house - PLEASE READ MOD WARNING IN OP

Eric Cartman

This ‘move somewhere else’ ‘you chose to be in dublin’ argument is a bit flawed, how many fund accounting jobs are in cashel ? , how many software companies are in leitrim ? , how many solicitors does borris-in-ossory need ?

The reality is because of poor infrastructure development and allowing rural Ireland to dwindle that all of the professional jobs are in a handful of cities , mostly dublin. Because of the anti car mantra traffic grows ever slower and people are trying to squeeze closer and closer to the city for less of a commute. Thats the reality we’re stuck with for the next decade if not 2-3 decades minimum.

So whatever about anything else, building housing in dublin and within commutable distance of dublin is priority 1 and supply needs to catch up to demand.

Eric Cartman

GreeBo wrote: »

You are an idealist.

No one is saying someone trying to better themselves is defective.
Someone complaining that they cant afford to live in the same place that everyone else wants to live simply has defective ideas.

Why should you be able to afford a median house on twice the median wage?
What makes you think that there should be some close link between these two things?
Adding "median" to both subjects doesnt somehow link the two subjects in any meaningful way.

The median price for a shuttle is mission is $450 Billion dollars.
I'm on a multiple of the median wage but I cant afford to take a trip to space. Should I get onto Nasa to lower the price?

Youre comparing a basic necessity of all human beings to a shuttle mission , well done.

Bigmac1euro

GreeBo wrote: »

You are an idealist.

No one is saying someone trying to better themselves is defective.
Someone complaining that they cant afford to live in the same place that everyone else wants to live simply has defective ideas.

Why should you be able to afford a median house on twice the median wage?
What makes you think that there should be some close link between these two things?
Adding "median" to both subjects doesnt somehow link the two subjects in any meaningful way.

The median price for a shuttle is mission is $450 Billion dollars.
I'm on a multiple of the median wage but I cant afford to take a trip to space. Should I get onto Nasa to lower the price?

Hahahaha that is some comparison it’s actually hilarious.

Also well done on being on a multiple of the median wage. Hold you're head high and piss on everyone else’s backs while telling them it’s raining hahahahaha

Bigmac1euro

wench wrote: »

Suicide was only decriminalised in 1993, so any stats for the 1980s would need to be taken with a pinch of salt.

Ok sorry sir. The suicide rate has gone down.

Geuze

Yurt! wrote: »

Well, given that the average house price in Dublin is 380k or thereabouts, someone on 70k (double the median salary) isn't getting a mortgage for the 'average' dwelling. It kind of suggests we have an affordability problem.

Median earnings are more like 40k, and that's 2014 data.

Median earnings in Dublin would be higher than 40k.

Bigmac1euro

f@steddie wrote: »

Plenty of people are doing just this. Some have cut their cloth to suit their circumstances, others are higher earners.

Some people are doing this.
Only very few I imagine. Most people I know aren’t doing this. And the ones that are most of those are on above average salaries and probably living and working outside of Dublin.

GreeBo

GreeBo wrote: »

You are an idealist.

No one is saying someone trying to better themselves is defective.
Someone complaining that they cant afford to live in the same place that everyone else wants to live simply has defective ideas.

Why should you be able to afford a median house on twice the median wage?
What makes you think that there should be some close link between these two things?
Adding "median" to both subjects doesnt somehow link the two subjects in any meaningful way.

The median price for a shuttle is mission is $450 Billion dollars.
I'm on a multiple of the median wage but I cant afford to take a trip to space. Should I get onto Nasa to lower the price?

wtf...

Bigmac1euro

Cyrus wrote: »

i would argue creches (good ones) are much better for kids than a lot of home situations with little stimulation and no one to play with.

I can accept you agree with this. And that’s fair enough.

But I don’t. From what I know, 8 hours a day in childcare is known to not be very good for a child developing. 4 hours a day I’d say fair enough but most cases this isn’t possible.

Yurt2

Geuze wrote: »

Median earnings are more like 40k, and that's 2014 data.

Median earnings in Dublin would be higher than 40k.

The average (as distinct from the median) is around that. The median is lower (as is to be expected).

upinsmoke

[Deleted User] wrote: »

Anyone I know who managed to get on the property ladder in dublin are paying far less with their mortgage than what I'm paying in rent. I can barely save because my rent is taking up 1/3 of my net pay. I'd be able to save more if I was paying less into a mortgage. I feel like I'm trapped.

I do not understand this to be honest. If 1/3 of your pay is going on rent and is capable of repaying a mortgage then where is the other 2/3rds going?

This sounds like your not managing your finances correctly to be honest.

You can live frugally and still enjoy life till the deposit is saved.

klaaaz

Eric Cartman wrote: »

Not even a low single income, the market is distorted as a single earner on a 50-70k income who needs to be in dublin for work is completely priced out of it.

More affordable housing needs to be built.

Perhaps you need to get onto your leader in FG about it, as the government is cheating everyone by keeping the property sale(and rent) prices high. It ain't welfare people cheating or causing the prices to be too high for someone on 70k to be priced out of it.

upinsmoke

klaaaz wrote: »

Perhaps you need to get onto your leader in FG about it, as the government is cheating everyone by keeping the property sale(and rent) prices high. It ain't welfare people cheating or causing the prices to be too high for someone on 70k to be priced out of it.

Move to a commuter town or lower your standards. This whole property crisis is not a quick fix and unlikely to be resolved for a long long time. No point bitching and moaning just get on with it

upinsmoke

upinsmoke wrote: »

I do not understand this to be honest. If 1/3 of your pay is going on rent and is capable of repaying a mortgage then where is the other 2/3rds going?

This sounds like your not managing your finances correctly to be honest.

This has been covered over and over in this thread. There is a cost to living. Food, phone, car, fcuking weddings, the odd night out; take your pick.



I'm saying mortgage payments seem to be less than what I'm paying in rent. My rent is such a chunk that I can barely save. I've been trying to put away 1/5 of salary for a while now but it usually ends up being closer to 1/10.

Geuze

Yurt! wrote: »

The average (as distinct from the median) is around that. The median is lower (as is to be expected).

Mean earnings 2017 are 46,402 for FT workers.

https://www.cso.ie/en/releasesandpublications/er/elca/earningsandlabourcostsannualdata2017/


Median earnings are less.

upinsmoke

[Deleted User] wrote: »

This has been covered over and over in this thread. There is a cost to living. Food, phone, car, fcuking weddings, the odd night out; take your pick.



I'm saying mortgage payments seem to be less than what I'm paying in rent. My rent is such a chunk that I can barely save. I've been trying to put away 1/5 of salary for a while now but it usually ends up being closer to 1/10.

Phone is 20 quid a month for me anyway, the odd night out( how much do you spend here?), Weddings(Do you have a wedding every month or something), Car(How much is your car worth?).

Sorry but sounds like your making excuses or bad money management.

For me my biggest expense was booze, now have a few at home and bring a tenner out with me for two pints at 12 at night and meet with friends once a week. I'm on 39k paying 500 rent and can still manage to save 1200 a month

Yurt2

Geuze wrote: »

Mean earnings 2017 are 46,402 for FT workers.

https://www.cso.ie/en/releasesandpublications/er/elca/earningsandlabourcostsannualdata2017/


Median earnings are less.

Emmm, that's exactly what I said in my original and follow up post. I'm not sure where you're taking this

38k is the mean for all workers in Q4 of 2018.

Ush1

Yurt! wrote: »

Emmm, that's exactly what I said in my original and follow up post. I'm not sure where you're taking this

38k is the mean for all workers in Q4 of 2018.

So what's the median Dublin income per person and the median property price?

On from that, obviously a single person does not need to live in a 3 bed house, so median prices for 1 bed and 2 bed apartments/dwellings.

upinsmoke

upinsmoke wrote: »

Phone is 20 quid a month for me anyway, the odd night out( how much do you spend here?), Weddings(Do you have a wedding every month or something), Car(How much is your car worth?).

Sorry but sounds like your making excuses or bad money management.

For me my biggest expense was booze, now have a few at home and bring a tenner out with me for two pints at 12 at night and meet with friends once a week. I'm on 39k paying 500 rent and can still manage to save 1200 a month

Booze would be a large cost of mine too. I'm not gonna be getting tanked up on booze at home alone and head into the pub at midnight though. Fair play to you for saving that much.

Yurt2

Ush1 wrote: »

So what's the median Dublin income per person and the median property price?

On from that, obviously a single person does not need to live in a 3 bed house, so median prices for 1 bed and 2 bed apartments/dwellings.

CSO (rather unhelpfully) doesn't publish the median, for any part of the country. I read a report last year where I think it was calculated at approx 34-35k nationally.

It would be useful if they did, as 'average income' doesn't tell us a whole lot about the health of the middle class earner.

Same goes for house prices, the CSO have fairly crap data. Which is why we rely on daft.ie rather than an official statistics agency.

Deleted User

Deleted User wrote: »

Anyone I know who managed to get on the property ladder in dublin are paying far less with their mortgage than what I'm paying in rent. I can barely save because my rent is taking up 1/3 of my net pay..............

Deleted User wrote: »

This has been covered over and over in this thread. There is a cost to living. Food, phone, car, fcuking weddings, the odd night out; take your pick.
................ I've been trying to put away 1/5 of salary for a while now but it usually ends up being closer to 1/10.

You must be spending far too much on things that could be curtailed
Seriously, if I was you I'd consider that a positive and get looking at where to cut expenditure, even for 12/24 months.

Like, if you reckon mortgages on Dublin purchases are far less then you're rent then I'd have to assume you're rent is at least €1400.

If rent is a 1/3 of your net pay then you're on €4600 net/month.

If those figures aren't close to accurate then I dunno what sort of Dublin properties are mortgaged with repayments being "far less" then €1400/month

upinsmoke

[Deleted User] wrote: »

Booze would be a large cost of mine too. I'm not gonna be getting tanked up on booze at home alone and head into the pub at midnight though. Fair play to you for saving that much.

Only point I'm trying to get across is that nearly everyone suffers saving for a mortgage and it's not easy.
Maybe two years of living somewhat frugal e.g going out once a month on the beer instead of every weekend. Basically social life, non essentials need to be sacrificed somewhat to get your deposit together.

Amirani

Yurt! wrote: »

Call me an idealist, but I think that a person earning double the median wage should be able to afford a mortgage within the m50. Perhaps it's 'the market' that's defective, and not the individuals working to better themselves (as is being implied by many on the thread).

Again - they can afford a mortgage. They can afford a mortgage for a 1 or 2 bedroom dwelling, not for a 4 person dwelling; which they don't need.

Why people persist with this notion that single income earners need to be able to afford a house in Dublin that's designed to accommodate 4 or more people I have no idea.

Yurt2

Perhaps. But the current lending rules mean that a 70k earner (far above average never mind the median) isn't (or at least shouldn't according to the rules) get a 380k mortgage with a 10 or 20 percent deposit.

martingriff

Deleted User wrote: »

This has been covered over and over in this thread. There is a cost to living. Food, phone, car, fcuking weddings, the odd night out; take your pick.



I'm saying mortgage payments seem to be less than what I'm paying in rent. My rent is such a chunk that I can barely save. I've been trying to put away 1/5 of salary for a while now but it usually ends up being closer to 1/10.

Food: eat in, bring your lunch to work, shop around for your groceries
Car: depending on circumstances get cheaper car, walk, bus
Weddings: wear the same outfit twice give what you can as a gift. Sometimes say no or say only can go to x part
Odd night odd: have less, invite people around.

Know this will be harsh but loads had to do it but when saving you have to say no and cut to the bone.

Mortgage rules are there for a reason. It will be the biggest debt you will have and for a lot of years. Yes it's cheap now but what happens if interest rates go up, you lose your job or the worst you get I'll.

People are struggling now with houses they bought with repayment on or over what your paying in rent because these rules were not there. Unlike a renter they can't just looks for something cheaper

GreeBo

Eric Cartman wrote: »

Youre comparing a basic necessity of all human beings to a shuttle mission , well done.

And there is the problem laid bare for all to see.

Living in Dublin is not a necessity its a choice.

f@steddie

Yurt! wrote: »

Perhaps. But the current lending rules mean that a 70k earner (far above average never mind the median) isn't (or at least shouldn't according to the rules) get a 380k mortgage with a 10 or 20 percent deposit.

They could with a larger deposit.

GreeBo

klaaaz wrote: »

Perhaps you need to get onto your leader in FG about it, as the government is cheating everyone by keeping the property sale(and rent) prices high. It ain't welfare people cheating or causing the prices to be too high for someone on 70k to be priced out of it.

No, its demand.
You lower prices by lowering demand.

GreeBo

Bigmac1euro wrote: »

Hahahaha that is some comparison it’s actually hilarious.

Also well done on being on a multiple of the median wage. Hold you're head high and piss on everyone else’s backs while telling them it’s raining hahahahaha

Any chance of an answer on why you think you can link two unrelated subjects by simply adding they wood median?

You think it's hilarious when i do it with a shuttle but somehow logical when it's done with a house in Dublin?

Sleepy

It seems like those wanting to buy in their 30s have two options:

1) Be somewhat sensible throughout your 20's and save a percentage of your wages while living an ordinary life

or

2) Work your arse off and live like a pauper for a couple of years to scrape together the mortgage.

I took the latter option and it's not much craic tbh. Looking back, I could easily have put away 10% of every pay-cheque I've ever received without much hardship. Going out on the piss one night a week instead of 2 to 4 times would have more than covered the savings imo.

Cyrus

Yurt! wrote: »

Or the implication that our capital city should be reserved for those who can afford the runaway house and apartment prices / rents. Evreyone else can feck off to the commuter belt. There are unbeleivable social and economic implications to this kind of attitude, and quite frankly, I find it childish.

the implication that there should be houses for all in the most desirable part of the country is childish