What Will happen when Generation Rent Retire?

HerrKuehn

https://www.boards.ie/discussion/comment/119102727#Comment_119102727

We already have a 50% rate kicking in at €36800, 52% at €70000. This is not very competitive relative to other European countries especially when you look at what you get in return (one size fits all pension that you may not get as there is no fund, a health system so poor you willing buy private insurance etc). The reason why I would think of leaving is because I am not willing to pay any more than that. I don't believe in this country long term, maybe even medium term. We aren't on the path to becoming more like Switzerland or even Vienna.

Talking about Mé Féinerism, as I mentioned, I have put far more into the pot than I have taken out. Yet most people are primarily concerned with their own situation, mainly concerned about the rules changing to somehow benefit them in getting a mortgage rather than a longer term view that might not directly benefit them. People here protested about paying a bit for water for feck sake, we will never have decent services when so many have that type of mentality.

Yurt2

Now you're just doing boilerplate angryman rants about tax. If you're so perturbed, you really aught to cut to the chase and start making your arrangements for your low-tax, awesome service Valhalla you're planning to move to. Because the economic situation you don't give a sh*t about and are patronising people who are suffering from it at the moment, will see those taxes go further north. And it's obvious the likes of you are hostile to any actual solution in the first instance. So do us all a favour and let us know when they leaving-do is eh?

I hope you realise you have contributed nothing to this thread.

Geuze

https://www.boards.ie/discussion/comment/119102219#Comment_119102219

I know how my parents (70s) lived in the 1950s-1970s.

But if I ever hear them say your quote, I strongly argue with them, or any of my relations.

The mortgage interest rate may have been 15% for a few years in the 1980s, yes, but what they don't tell you is the nominal price of the house.

HerrKuehn

https://www.boards.ie/discussion/comment/119102876#Comment_119102876

It isn't that I don't give a sh*t about, I don't have any control over it. What I do have control over is what actions I take if it happens. There is no need to be so angry. I am sorry if suggesting people save from the time they finish education is triggering you, but in my opinion it is sensible advice.

Bass Reeves

https://www.boards.ie/discussion/comment/119102727#Comment_119102727

Somebody who is 40 and on a good wage had plenty of opportunities to buy in the last ten years. We all make choices. We choose how to spend our money.

When rent was cheap 8+ years ago the advice was why take out a mortgage. When apartment's were for the price of a marquee car the advice was to wait for a forever home.

When house prices started to rise in 2014/15 the advice was that we would get a W shaped collapse that it was a false bounce.

People make choices. Whether it's to buy a latte instead of a jar of Maxwell House. To take out a Sky subscription, Netflix . To take your one in a life time holiday every year in your late 20's.

As for this being an Avacoda argument. I know plenty with very average income with houses and other on better incomes renting.

As for the GFC excuse it just an excuse as well. Not everyone was effected by it but I was as well 2008-2012 saw interest rates rise. At one stage I had extra payments of 1k/month on the farm I had bought. At the same time my eldest started to go to college. The Government increased the registeration feed from 1K to 2k virtually overnight, stopped the CA at 18 and increased taxation.

10k/ year disappeared in us but we just changed lifestyle. I did not go out for pints, I did not got out to eat( not even to a chipper)

A night out cost 50 euro back then( for the pair of us) not doing that was 2.5k/ year. Not buying a sandwich and tea twice a week saved 1k between the two of us. Not going out to dinner on Sunday once a month with the children 1200/ year. Not going to the chipper once a week saved 7-800/ year. Cancelling Sky ( basic package) 500/ year.

Sh!t has happened to us all at some stage. If it was not sh!t it wouldn't happen. You can whinge about it or get on with it.

ancapailldorcha

https://www.boards.ie/discussion/comment/119102953#Comment_119102953

TLDR; You know a few people who are grand. Therefore there is no housing crisis.

Pathetic.

Dial Hard

https://www.boards.ie/discussion/comment/119102953#Comment_119102953

Speak for yourself. I wasn't on a particularly good wage 10 years ago, first of all. Secondly, I've been renting that entire time. Had two redundancies in that period (both unpaid as I'd been in both places less than two years). Went back to college so had to pay for that. And as soon as I finally found myself with an extra few bob at the end of the month, I had the choice of saving it or starting a pension. I chose the latter, as it seemed to me the better long-term investment. So no, I didn't have "plenty" of opportunities to buy in the last ten years.

Seriously, I can't understand why it's so hard for some people to get their heads around the concept that not everyone has had the same experiences, opportunities, career trajectories, earning and saving potential as they did. It's not as simple as "Well I managed it, therefore everyone should be able to." Everyone's mileage varies and it's both reductive and incredibly patronising to assume that someone's current circumstances are purely down to poor choices.

Also, I'm a chick, just to clarify.

riclad

when you go to a shop and buy anything you are very likely paying vat tax, on the items you buy, if you need medical treatment for certain medical problems, you,ll be waiting at least a year to see a specialist, so many people opt to pay for private health insurance ,and go to a private hospital rather than be waiting years on the waiting list.you have to pay various taxs if you drive a car if you buy a luxury good, a ticket to a concert you have to pay tax

HerrKuehn

https://www.boards.ie/discussion/comment/119104951#Comment_119104951

Wrong thread?

riclad

Yes maybe 5 years ago people were saying I'm OK with paying rent, then what happened is house prices went up quickly due to lack of supply. And rents continue to rise. So alot of young people may not be able to buy a house unless they get help from their parents. So of course theres a generation gap between renters vs people paying a mortgage. Herrcuehn says a million people are paying no tax. People pay tax Vat when they buy most goods in a shop apart from some items that are vat free. If you live in a council flat you pay rent which is based on your income. If you drink or smoke you are paying 20 per cent plus tax at least.

I see no easy solution to the housing crisis, there's a shortage of building workers, the cost of building materials and energy is rising. Inflation is going up as the supply chain crisis continues. Its unlikely people would vote for a Sweden type system with high taxs but a better class of public services. Germany has done alot better than Ireland because it simply builds x no of houses per year every year based on long term planning the range of housing that will be needed

riclad

I think this thread is aimed at gen z, or people who are in their 20,s, 30s, who are now renting and maybe have little hope of buying property, due to paying high rent

, as they get older is the government thinking of them or providing some help to get them on the property market. Also alot of young people were at college for 3 years maybe they graduated at the start of the pandemic so they may be stuck renting for a long time unless they are on a high salary which gives them the chance to save up for a deposit

Galwayguy35

If the OP thinks Mary Lou and the shinners are going to come in with a magic wand and solve everything then he is in for a major disappointment.

joseywhales

..

Irelandsnumberone

https://www.boards.ie/discussion/comment/119120143#Comment_119120143

Nobody thinks SF will have a magic wand (or others) SF are gaining support because FF/FG either don't want or are unable to solve the housing issue and SF currently are the only alternative.

Imo at least SF will put people before developer's

ancapailldorcha

https://www.boards.ie/discussion/comment/119120143#Comment_119120143

Sure but what progress have Fianna Fail and Fine Gael made?

tom1ie

Do you not all think the reason that rent is seen as a bad word is due to rent being high and lack of long term leases (and on the landlords side lack of powers of eviction for problem tenants- who obviously are a tiny minority).

If you agree these are the problems, then a solution needs to be put in place to address these problems.

With regard to high rents, is this not because HAP has artificially raised the bar of rental income for landlords? Take away HAP and landlords have to recalibrate rents.

High rents are also due to lack of supply, therefore more landlords need to be encouraged into the market to provide houses that are affordable to rent.

Long term rents need to be made available.

Once you get more people renting you take the pressure off the house purchasing market which stabilise/ lowers house prices.

Mr. teddywinkles

https://www.boards.ie/discussion/comment/119120117#Comment_119120117

What makes ya think if we paid higher taxes here that we would get better public services anyways. Theres lots of stealth taxes on necessities in this country too. So low tax it ain't either.

Secondly looking for parents to come up with deposits for their kids for houses.

Most older people I know are worried will they have enough in their pension for they're retirement including my own parents. The way the cost of living is shooting up here I wouldn't blame them.

hayse

We need 200,000 council houses built. Renting needs to become extinct.

ancapailldorcha

https://www.boards.ie/discussion/comment/119120872#Comment_119120872

No, it just needs to be regulated and controlled as in Germany. People shouldn't have to commit to a mortgage just to live somewhere.

hayse

https://www.boards.ie/discussion/comment/119120877#Comment_119120877

Let’s leave Germany paddle their own canoe

ancapailldorcha

https://www.boards.ie/discussion/comment/119120912#Comment_119120912

What point are you making? I was saying that a model exists for a tightly regulated and controlled rental sector.

Nermal

A 'trade' needs to be made in legislation in the rental market - lawful grounds for eviction need to be further limited, and in return, eviction for non-payment should be possible within 90 days at the latest.

Galwayguy35

https://www.boards.ie/discussion/comment/119120278#Comment_119120278

https://www.boards.ie/discussion/comment/119120387#Comment_119120387

SF TDs and councillors including MLMcD herself have objected to housing developments in their areas, I mean its a bit rich complaining nothing is being done and then stopping the bloody things being built in the first place.

We also have a shortage of the people who acually build the houses, unless Mary Lou and Pearse are going to get a trowel and mortar board and do it themselves I don't see how they can speed up the process any quicker than the present lot.

Its also worth remembering they will probably go into coalition with one of them to form a Government.

ancapailldorcha

https://www.boards.ie/discussion/comment/119121187#Comment_119121187

I'm not a Sinn Fein supporter and, while I believe that their TD's are as NIMBY as those of FF and FG, I can see the electoral logic in people plumping for them. I wouldn't myself but I see why people are voting for change.

Galwayguy35

https://www.boards.ie/discussion/comment/119121240#Comment_119121240

But I wonder how many who will vote for them in the next GE will even read or have any knowledge of their policies before giving them number 1 or will they just do it to give the present lot a bit of a kicking.

Housing and Health are going to be the two portfolios no Minister will want to be put in charge of for years to come.

A lot of young people like the OP are putting their faith in SF and if as predicted they become the biggest party in the country the pressure will be on them to deliver on their promises.

ancapailldorcha

https://www.boards.ie/discussion/comment/119121315#Comment_119121315

It doesn't matter. If SF strongly campaign on housing and health and then bungle both, I'm sure another populist outfit will appear.

We're at the stage where people can't start families on the head of this. No amount of pretty words from Leo will alter that.

Irelandsnumberone

https://www.boards.ie/discussion/comment/119121187#Comment_119121187

Many of these developments are objected to on basis they are the wrong type of housing according to SF (im sure you know that)

Many Govt TDs have objected to many developments aswell so i dont get where you are going with this?

Thee situation is getting worse (rising house prices, rents) especially rents and the Govt are doing NOTHING to stop it.

freemickey

Even the pyramids of Egypt don't last.

This cardboard pyramid of Ireland, built on the back of multinational tax avoidance, unlimited inward migration and infrastructure set for the bin was never going to last.

Things are going to change in ways that many can't comprehend.

For those people, normality would be getting back to the pyramid. Not going to happen, it's dead, Jim.

Claw Hammer

Renter pensioners will have to be accommodated in social housing. This already happens. Elm Park has a social component composed of pensioners in low rise blocks owned and managed by Dublin City Council.

ancapailldorcha

https://www.boards.ie/discussion/comment/119122496#Comment_119122496

It happens now. What happens when the amount of non-property owing pensioners plummets?