Lack of properties in Ireland and Europe

Esho

According to the news, there is a shortage of properties all over Europe, not only in Ireland.

Is there a conspiracy theory to explain this?

The Nal

The population of the world was 6 billion people in 2000. Now its 8 billion.

hometruths

https://www.boards.ie/discussion/2058252833/lack-of-properties-in-ireland-and-europe

Not so sure of the figures in the rest of Europe, but certainly in Ireland there is no actual shortage of physical properties. The problem is too many of the existing properties are empty.

i guess you could argue a conspiracy theory that this is known and understood by the politicians, who could fix it easily if they so wished. But they don’t wish to do so because the status quo suits the base that vote for them.

Ginger83

https://www.boards.ie/discussion/comment/119284696#Comment_119284696

There is no incentive for people to rent out empty properties due to government meddling. 45 different pieces of legislation since 2008, the system is a mess.

sydthebeat

There's a myriad of reasons there a lack of housing in Ireland.

Top of these are part five of the planning and development act 2000, and the Housing (Standards for Rented Housing) Regulations 2008 and 2009.

hometruths

https://www.boards.ie/discussion/comment/119284731#Comment_119284731

Agreed, part of the reason so many are empty.

A property owner is currently incentivised to hold a property empty, due to likelihood of strong capital gains.

However if that likelihood diminishes or reverses, then we're like to see the "shortage" of properties problem solved very quickly.

Ginger83

https://www.boards.ie/discussion/comment/119284791#Comment_119284791

It won't change.

HerrKapitan

Anyone currently thinking of buying a house or apartment should immediately stop and keep renting. They will save money in the long run as they are going to be priced out of it soon anyway.

There isn't a conspiracy theory, but an entity that the world leaders have been meeting with before covid, Ukraine, have been pushing for an end to private ownership. Coincidentally there has been a spate of world events whose effects have helped them with their agendas.

We have seen how houses and apartments have been increasingly taken over by investment funds. That is done by design and is dealing with stopping common new buyers.

Now they need to tackle the problem of common people that already own property. So are raising interest rates until everyone has to default on their mortgages.

Those houses will come under the ownership of the Investment funds when the banks sell them on.

The amount of available rental properties will then be drastically increased. Not by the usual landlords, but big corporate and it will be celebrated as the housing crisis being sorted.

Dohnjoe

https://www.boards.ie/discussion/comment/119605475#Comment_119605475

Whose been pushing for an "end" to private ownership and why?

The Nal

https://www.boards.ie/discussion/comment/119608685#Comment_119608685

Klaus Schwab, great reset, you'll own nothing, Chinese credit system, cultural marxism etc

silliussoddius

https://www.boards.ie/discussion/comment/119608794#Comment_119608794

You won't just own nothing, but you'll also be happy. Poor Russel Brand got upset about this.

Dohnjoe

https://www.boards.ie/discussion/comment/119609010#Comment_119609010

Ah Russell Brand, another stupid person's idea of a smart person. Has tapped right into the thick vein of crazy that the pandemic has energized, and the void from Alex Jones, he's raking it in.

astrofool

Majority of accommodation is still being bought by private individuals rather than institutions. The "own nothing" plan isn't working that well.

Wanderer78

https://www.boards.ie/discussion/comment/119609187#Comment_119609187

...with money thats largely created in the private domain, i.e. credit via banks, the conspiracy being modern political and economic ideologies that believe that this approach is far more efficient and effect that the state, only problem is, theres absolutely no evidence to support this claim and plenty of evidence to support, its a fcuking disaster!

Esho

https://www.boards.ie/discussion/comment/119605475#Comment_119605475

The investment funds have nowhere to put their capitol. It makes no difference of they rent out or not.

Rent is a bonus- this is why they are happier to keep s block only partially rented

im not an expert in construction but i feel like the two year interruption to construction may have somewhat affected construction

King Mob

https://www.boards.ie/discussion/comment/119609010#Comment_119609010

And this is all going to happen inside 7 years.

The Nal

https://www.boards.ie/discussion/comment/119610178#Comment_119610178

Yep. These are going to really quick repossessions. Take America. 140 million homes. All to be taken away from their owners.

I'd love to see someone's plan for that.

Assume they'll have to call in, er, help for the 2 million homes in Ireland.

King Mob

https://www.boards.ie/discussion/comment/119612460#Comment_119612460

Well I mean they can just pay the army to... oh wait...

Bit cynical

Too easily explained by economics to be a conspiracy. After the financial crisis, banks have been reluctant to lend to developers and home buyers, and central banks place strict lending limits on individuals. At the same time, very low interest rates (also a hangover from the financial crisis) have inflated assets such as land and existing houses thereby exacerbating the problem.

JoeCat

https://www.boards.ie/discussion/comment/119612460#Comment_119612460

You might not realise that we are entering the biggest inflation in history (thanks Central Banks!) and interest rates sky rocketing + politicians putting massive "green" taxes for everything. Most of the population might soon struggle to survive economically. So they will own nothing as the big reset says. Hedge funds already pushing house prices to unafordable prices for most of the population.

The Nal

https://www.boards.ie/discussion/comment/119741169#Comment_119741169

The theory is that no one on earth will own anything.

In 8 years.

King Mob

https://www.boards.ie/discussion/comment/119742462#Comment_119742462

It's October and it's all meant to be by 2030. So more like 7 years now...

silliussoddius

https://www.boards.ie/discussion/comment/119741169#Comment_119741169

So what imaginary part of the internet did the big re-set say that everyone will own nothing?

Padre_Pio

https://www.boards.ie/discussion/comment/119761229#Comment_119761229

the part that believes our government of teachers and publicans is part of some global cabal.

sprucemoose

https://www.boards.ie/discussion/comment/119284752#Comment_119284752

im not necessarily disagreeing but id be interested to hear your reasoning here?

sydthebeat

https://www.boards.ie/discussion/comment/119761572#Comment_119761572

quite simply because it took the responsibility for provision of social housing away from the local authorities and put it in the remit of private developers.

this might be a good idea in the middle of an economic boom where loads of houses are being constructed, but when that invariable bursts, as it did (not least due to over supply) then the economic attractiveness for private developers to construct houses falls through the floor, equating to no social houses being constructed despite it being the time of greater demand.

i understand the philosophy behind the need for integration of social housing into general housing, i just think the whole system of private landowners selling zond land to private developers for providing housing to maximise profits needs to be looked at.

sprucemoose

https://www.boards.ie/discussion/comment/119770538#Comment_119770538

cant really argue with that tbh, i think its a good idea in theory but it falls down massively in execution definitely

i do think your last sentence is particularly interesting too. from my experience, 99% of developers will look to simply squeeze as many houses as possible into every square mm of land that they can and just meet any other requirements they have to at the bare minimum in order to maximise profits. id like to see some sort of incentives (tax breaks maybe) to reward 'good' design (quality green space, better amenities/ services etc,), if its just left to the developer's own goodwill we'll most likely continue to just get the rubbish we've traditionally built

Ubbquittious

https://www.boards.ie/discussion/comment/119605475#Comment_119605475

This is not a new idea and has happened to some extent during the various recessions over the past century. When people take out a mortgage, they are effectively dependent on the money from mortgages that haven't been issued yet in order to pay back their own. A plumber for example will find himself completely fcuked if the banks stop giving out mortgages and the lucrative new house plumbing jobs dry up, all the plumbers will be 'atin each other fighting over the couple of repair/refurbishment jobs that are left but that won't be enough to pay the bills.

Now when the banks collude to stop giving loans there will be a whole bunch of fellas who won't be able to pay back their mortgages and the banks will be able to swoop in and repossess a whole bunch of houses for nothing. They're then free to rent out those houses or do what they like with them. Every 20 or so years the banks will pull this stunt, unsatisfied with just sitting there collecting easy passive income from the majority of working class eejits their greed knows no bounds.

Banks are the absolute worst.

Chelsea2022

Interesting, I wonder.

maninasia

https://www.boards.ie/discussion/comment/119284696#Comment_119284696

This ole trope.

The mysterious empty properties everywhere. While there are some the actual number is lower than most countries. Most houses are packing folks in in this country. There is no mysterious reserve of empty houses suddenly going to appear.