Eviction after 50 years

RichardAnd

https://www.boards.ie/discussion/comment/121162946#Comment_121162946

This.

Ireland is indeed an infantalised country, and the state is looked to resolve all problems. Let me be clear; I am not such a person. I have worked for everything that I have, and I received NOTHING from my family. Did I make mistakes? Yes, but I accept responsibility for what I've done wrong, and I do my best to work with what I have.

However, I make no apology for calling out the egregious behaviour of the state. All that I want from the state is that it preforms basic administration, provides basic services and enforces the border. What we have instead is a neo-liberal/globalist/infinite growth model that is sticking its fingers into every issue in the country.

Of course, what I personally think does not matter. What is very clear is that it is becoming increasingly difficult for a lot of people to get by here. This is precisely the milieu that will produce extremism, be it far-right or far-left.

But hey, maybe a lot of people are happy with this. If so, I'll shut up. I'm childless, single and middle aged, so I don't feel especially invested...

BlueSkyDreams

https://www.boards.ie/discussion/comment/121162946#Comment_121162946

Yes, all very true.

Those in the middle that work and pay their own way get nothing back from the govt.

The situation of the local councils buying up private homes for social housing at every opportunity, especially on new estates, is crazy.

I would avoid new build estates at all costs if i were a private buyer now as you end up buying into a council estate.

And are over paying to boot, as the local council jacks up your paid price!

JCN12

Whilst I am anti irresponsible immigration and pro controlled/ regulation, the Rhetoric developing here is somewhat concerning. 🤔

Bass Reeves

https://www.boards.ie/discussion/comment/121162828#Comment_121162828

You see a lot of people with decent incomes renting for 10+ years waiting for a forever home. I know a few young professionals who never went travelling that are renting for the last 6-8 years. They could have bought a cheap apartment back in the day and it would be paid for now. Lad with his partner and two children renting in the village last 3 years trying to buy a site.

In three years he has thrown away 36-40k in rent. People just will not make hard choices

RichardAnd

https://www.boards.ie/discussion/comment/121165728#Comment_121165728

I think that the crash, or rather the memory of it, left an imprint on many people. I can remember using the economics boards back in 2010 or 2011, and a consensus held by many was that buying property was a mug's game. It's obvious now that it was not, but everything is with hindsight.

HerrKuehn

https://www.boards.ie/discussion/comment/121167169#Comment_121167169

If you read the property pin you would have seen the bears turn to bulls at some point in 2012. There were reports of increased turnouts at viewings, properties going closer to asking etc. For me that was the signal that a bottom had been reached. I didn't expect the increases later, but it was clear that baring any other external event that the drops had ceased.

Bass Reeves

https://www.boards.ie/discussion/comment/121167554#Comment_121167554

By 2014 especially in Dublin the signs of a resurgence in property prices was evident as the demand was rising fast and excess supply was being snapped up

HerrKuehn

https://www.boards.ie/discussion/comment/121167569#Comment_121167569

I started looking end of 2012, bought early 2013. There wasn't a huge amount on the market in SCD and there was definitely interest. The thing was at the time there was definitely still the mindset that they should go below asking. I was in a minor bidding war with 2 other couples, but it still went slightly below the asking price (which was down ~55% on the 2008 price it was on the market for, it was in the paper).

RichardAnd

https://www.boards.ie/discussion/comment/121167554#Comment_121167554

That sounds about right. I remember that the talk of a new property bubble began around 2014 or 2015. It was also around this time that talk of the "crash" began. As I said above, I think that the crash of 2008 left a lot of people spooked about property, so they didn't buy back when the prices were still more reasonable.

I don't see any reversal of prices in the near future, and the apparent "slowdown" in recent months seems to have been that. The advice I'd give is to buy a property that suits if it's possible. Even if there is a crash, at the end of the day a house or an apartment isn't a stock portfolio; it's a place to live in, and that's always worth something.

HerrKuehn

https://www.boards.ie/discussion/comment/121167761#Comment_121167761

There was a politician who said that property prices were going to rebound like a ball held under water. I thought it was ridiculous at the time, it seemed the most likely scenario was gradual increases. Then again we didn't know about the economic growth in the years afterwards. It is never clear when to buy something (a house or other investments) but there are times when there are inflection points that allow you to put on these asymmetric bets (where the potential loss is small, but the potential upside is high). Examples I have taken would be buying in 2013, buying stocks end of 2020 before the "great re-opening" and locking in a fixed rate on the mortgage in early 2022.

Bluefoam

https://www.boards.ie/discussion/comment/121162946#Comment_121162946

400 first time buyers are drawing down mortages every week... So whats your issue? Who is acting against them? Or are you just pissed off that you're not one of them?

Bass Reeves

https://www.boards.ie/discussion/comment/121167761#Comment_121167761

The reality is as long as you can pay for it then it's immaterial. With present lending rules there is generally no problem paying for it.

I even go so far as to say buy anything even for 3-5 years to prevent yourself paying rent for that time frame.

Listening to the late chat on Virgin media last night, there was a lady that came back from the states a few years ago and is renting with her partner for a few years now. 37k in rent being paid over year, if she is at it 3 years it 100k, they only qualify for a 350 K mortgage.

She works part-time ( intermittent in the media production sector). While on one hand I felt sorry for her on the other hand I taught whoa buy an apartment for 4-5 years, Yest if **** happens you might be stuck in it for longer, but f@@k paying 100k every three years in rent. For that matter move the f@@k out of Dublin, both of you go working in a factory in Limerick or Cork and buy a f@@king house. Buy a house outside Dublin and commute especially if she is only working part-time.

Dublin is not the place to be in your thirties on very median wages

thomas 123

https://www.boards.ie/discussion/comment/121167813#Comment_121167813

Its clearly outlined in the comment you decided to quote for some reason but failed to read.

Luckily I am a home owner - I do choose not to keep my head rammed firmly up my own arse though, especially when it comes to current affairs and very basic supply and demand economics.

More buyers for limited supply increases prices normally. We have investment firms (due to the lucrative rent market) and councils(trying to meet the massive increases in the need for social housing) all competing for the same little supply, the prices are very much over inflated and the party with the least buying power loses out by paying over the odds or not being able to buy at all in many cases. But hey, if you are happy with 400 high earners drawing down 2k a month mortgages then so be it.

Bluefoam

 But hey, if you are happy with 400 high earners drawing down 2k a month mortgages then so be it.

Please provide a link to these stats, seems highly unlikey.

*update: I did it for you... the facts don't reflect you're comments

the median first-time buyer mortgage rose €24,000 to €254,000, Banking & Payments Federation Ireland (BPFI) has found.

thomas 123

https://www.boards.ie/discussion/comment/121167886#Comment_121167886

I don't need to provide you a link, please do a little bit of basic maths - take the average house price, or even median, find the lowest interest rate mortgage you can find and punch in the numbers for yourself.

This website did it and even included the Help To Buy Scheme and the 10% deposit up front and came out at €1,757 .

https://moneysherpa.ie/mortgage-statistics-housing-statistics-ireland/

Here is the CSOs' statistics on the matter also https://www.cso.ie/en/releasesandpublications/ep/p-rppi/residentialpropertypriceindexmay2023

When you are ready please share some proofs that we do not have massive pressures on our hosing market.

Funnily enough our ministers mentioned the "housing crisis" a few times in the last couple of days - https://www.irishtimes.com/business/economy/2023/09/27/budget-2024-window-to-prepare-for-economic-headwinds-is-rapidly-closing-minister-for-finance-will-say/

thomas 123

https://www.boards.ie/discussion/comment/121167886#Comment_121167886

RE your edit:

Would you care to share a link to your stats and a date as to when they were gathered from?

Bass Reeves

https://www.boards.ie/discussion/comment/121167848#Comment_121167848

It would depend on the definition of a high earner. If they were a couple earning 130-140k between them the mortgage at 2k/ months is affordable especially as interest rates increases are probably hitting a ceiling.

That kind of income would give them a disposable income of 7.8k/month well within the affordable metrics.

Buyers will tend to buy the most expensive house they can afford. I have seldom seen FTB buy a house that is not at the max of what they can afford.

Bluefoam

https://www.boards.ie/discussion/comment/121167973#Comment_121167973

https://businessplus.ie/news/first-time-buyer-mortgage/

themoone

Any update on this the couple were given extention till Nov. 16th (a week ago)

danfrancisco83

https://www.boards.ie/discussion/comment/121399193#Comment_121399193

I assume they've realised the gravy train has stopped and they've moved on. Having a quick look on PPR, and dates it was first listed, I'm guessing 9 Eagle Hill was the house.