What Will happen when Generation Rent Retire?

Xidu

Do u know in HongKong 90% people live in 60sq m apartment and I am talking about 2 generation living together

if u go on tiktok or Instagram you might see people showing 10sq meter apartments for single persons

basically have to use up every inch space and even wall space for living.

be grateful of what Ireland has.

I have traveled and lived in different countries and I can say Ireland is in a way better situation than most of the other countries.

maestroamado

https://www.boards.ie/discussion/comment/119072003#Comment_119072003

I wonder if i can lodge an objection as surely these houses are too nice for common folk... this is surely a mistake...

Fallout2022

What Will happen when Generation Rent Retire?

Well it would help if they at least stepped it over a six month period.

All going the same day is making things awkward.

monkeybutter

https://www.boards.ie/discussion/comment/119072003#Comment_119072003

You would end up dying before you'd get off the list

riclad

Maybe they'll live in rural areas where rent is lower, I don't think any politican thinks about plans 10 to 20 years from now. in many American city's many people don't retire, they just work at Walmart,drive a bus. they simply can't afford to retire. Our Politicans will all have large pensions why should they worry? Some young people will simply move into the family home, I don't want to think about what rents will be in 10 years time. There has to be x per cent of young people working to pay taxs so that old people can get hap rent allowance.

oceanman

https://www.boards.ie/discussion/comment/119069448#Comment_119069448

35,000 by 2024 is not going to come near solving the problem.

Jim2007

https://www.boards.ie/discussion/comment/119073466#Comment_119073466

When everyone’s expectations is to own a house and they are willing to take huge amounts of debt to do so, the problem is unsolvable.

hayse

Free accommodation to over 55s who are on low income. The government need to intervene and tackle this head on.

is_that_so

https://www.boards.ie/discussion/comment/119073466#Comment_119073466

I didn't suggest it would but it is the required annual target and a more useful base to kick off from. There is absolutely no easy fix to it no matter what some quarters claim but we should see a better housing situation into the second half of the decade.

ancapailldorcha

https://www.boards.ie/discussion/comment/119073643#Comment_119073643

What is the basis for this? A broken property market immensely suits those already on the ladder. No government is going to tell homeowners that their assets are going to drop in value.

is_that_so

https://www.boards.ie/discussion/comment/119073732#Comment_119073732

If you're into CT this is true. Can't say I know many who are continually obsessed with the asset value of their homes. Once people settle on an "ideal home" they tend to stay there. A broken market suits absolutely nobody especially the incumbents when a promised SF magic wand version could propel them to power. That and the social responsibility to fix it is what will push them forward on it. They will probably get some things wrong and we may well still be in an imperfect situation at the end of the decade but inaction or seeking out a perfect solution is not the way to go.

https://www.boards.ie/discussion/comment/119073764#Comment_119073764

that depends on whether FG decide that winningnthe next election is as important as harming their core vote, which is always going to be the class that want property and wealth concentrated and earning for the right type

FG could have taken many steps to increase supply available in the past decade and more and have chosen not to do so, that's pretty much undeniable.

is_that_so

https://www.boards.ie/discussion/comment/119073774#Comment_119073774

Well TBF they did give money to councils from about 2018 to start building social homes, few did and what they built was in very small numbers. We are still playing catch-up from 2011-2016 where almost nothing was built. Not sure what this means BTW, their core vote, as no party has much more than 20% of a core vote. The rest are floating voters in varying guises and can vote right across the spectrum if the mood takes them. Why would a government party or any party not want to win an election?

Gusser09

And get ready for it now. There is going to be an even bigger collapse in the supply of housing. Yes we are probably on our way to higher interest rates coupled with inflation but as long as there remains pretty much no houses to buy compared to the amount of people looking to buy them then prices will stay in the clouds.

It'll also be harder to get any decent wedge off the banks.

It's time to stop voting ffg and give the other side a shot.

https://www.boards.ie/discussion/comment/119073802#Comment_119073802

all fair points but they consistently leave as much as possible to the councils and drag their heels on the issue when its the main political topic of the past 8 or 9 years

i think parties decide not to go into govt all the time! SF last election ducked out.

for FG, the things that are being called for that would address housing for are simply not the kind of measures they agree with as a core belief group. earn yr house (HTB by some measure i think the most successful step theyve pushed) and make sure to pay into thr pot while doing so

free 4eva houses 4 all? paid for by working stiffs? beside professionals? not something FG are ever going to back because yeah they may only have a core 20% vote but the year after they made that happen theyd have a core 10% vote.

Gusser09

https://www.boards.ie/discussion/comment/119073127#Comment_119073127

Yes these houses are reserved for scrounger and waster. Not for folks who have worked all their lives and contributed.

Patrick2010

Not to forget Roderick O Gormans promise of own door accommodation for asylum seekers within 3 months of arrival in Ireland, thats bound to attract serious numbers to add to the existing housing lists.

JimmyVik

https://www.boards.ie/discussion/comment/119071704#Comment_119071704

And in 5 years you're mortgage will be zero. Well played you. Genuinely.

highdef

https://www.boards.ie/discussion/2058245863/what-will-happen-when-generation-rent-retire

I moved from Dublin to north Kildare 13 years ago. Still very much within the commuter belt. Recently bought a house in a rural spot in the midlands. I've no desire to be living in Dublin as it's not the Mecca that many people think it is. There are a few nice areas but overall, Dublin City has gone VERY downhill in recent years and I'm perfectly fine to be rid of it. I only travel to Dublin on the few days that I need to travel to the office and even then, I'm only a couple of kilometres inside the M50. Funnily enough, the area where I work when I do travel to Dublin has gone from being a complete dive from when I started working in that area 21 years ago to what is now a relatively nice area.....in comparison anyway.

What makes you think that it's clear that people are not leaving Dublin for rural areas? I'm a Dub who moved from Dublin to a rural area so your statement is already false.

Dial Hard

I love how this is framed as all the fault of Dubs with notions who won't just move to the sticks. What about all the people from the country who move to Dublin? Do they get a pass cause that's where the jobs are? Cause shock horror, that applies to Dubs too.

The fact is that the market is broken for a number of reasons, most going back decades, and no one simplistic approach is going to fix it. Despite what people would like to think about Sinn Fein.

Dravokivich

https://www.boards.ie/discussion/comment/119072244#Comment_119072244

Just because someone else's situation is worse than mine, doesn't mean I should concede to the poor situation I'm in as something that is aspirational.

JustJoe7240

https://www.boards.ie/discussion/comment/119074064#Comment_119074064

Difference is you won't hear the same sense of entitlement from them. It's simple, if they have the means and wish to live in Dublin, They will. If they don't, they wont.

ancapailldorcha

https://www.boards.ie/discussion/comment/119073764#Comment_119073764

It's not a CT, it's politics. I'd say the CT is pretending it's all going to be fine without laying out a potential framework for that to happen. NIMBYism is everywhere and it is that way for a reason. In my experience, a lot of people are keen for their homes to grow in value. This isn't compatible with fixing the housing crisis unless radical action is taken.

hello2020

https://www.boards.ie/discussion/comment/119070691#Comment_119070691

India is a unique example of a country where the corrupt government does nothing for its poor leaving them to die on the streets while spending billions on mars mission n fancy weapons..

having said that, housing is very different to Ireland. Poor people just build a small hut/house using whatever material they can source on a tiny tiny piece of land far outside the city..

Rich people keep adding extra floors/stories to their apartment buildings creating multiple houses in small areas without any planning permission..

result is a very chaotic congested cities with lots of traffic etc but it provides a roof for poor and middle class people in a country with corrupt government n no social welfare !

In Ireland tax paying citizens do not have freedom to build their own house or even a room and solely depends on private builders which means price keep going Up..

Cape Clear

Few people had to buy at the top of the market in 2008 as there was an abundance of cheaper renting options. The problem was that people chose to borrow sums they couldn't afford to repay once the crash hit. Different story now with low availability of properties for rent. Maybe the taxpayer should be getting something in return for their €30K help to buy developer's donation especially when this is going to people that previously could well afford to borrow more but are precluded from doing so under tighter central bank rules.

Potatoeman

https://www.boards.ie/discussion/comment/119076612#Comment_119076612

The boom was over ten years. That’s a long wait. The last few was when the cracks started showing. Rents had started to creep up too.

chuchuchu

The declining fertility rate should decrease the population but immigration might nullify that. I would suggest alot more one bedroom apartments need to be built. Alot of old people in retirement own a 3 bed semi with their children moved out, but they cant downsize for various reasons.

riclad

What will happen is taxs will rise on personal income, the retirement age will gradually rise, you. ll have no choice, you have to put x amount into a pension scheme, 5to 10 per cent. I think some people are living 3 to 4 in a 2bed apartment in dublin

. Japan has a low population crisis, low fertility rate, alot of single people never get married, there's towns where one third of the houses are empty. They limit immigration. Houses are cheap in rural areas.

I think WFH is a permanent trend option, more people will move to rural areas if they can work from home. I think more people will leave Dublin when they realise I will never be able to buy a house as prices rise every year.

FishOnABike

https://www.boards.ie/discussion/comment/119071765#Comment_119071765

4K per month is more than many people's gross pay. Take away tax, rent, transport, food, utilities, etc... and there's not much left to save.

maninasia

https://www.boards.ie/discussion/comment/119071079#Comment_119071079

Did you open your eyes and see the amount of immigration in Dublin city. Have you been following how many refugees are coming in over the last month.

How would that not have a large impact on the demand exactly?

‘’April 2020 - April2021

More people arrived than left

A breakdown of the figures shows the number of immigrants to the State in the year to last April was estimated at 65,200, while the number of emigrants during the same period was about 54,000, showing more people arrived than left.

Irish nationals accounted for 30,200, or 46.3%, of the 65,200 immigrants to Ireland – the highest number of returning Irish nationals since 2007.‘’