you should just "GET OVER" ever owning a home says PP boss

leavingirl · 17-06-2016 8:47pm

cantdecide wrote: »

Is there anything to be said for another government sanctioned attempt for big business to enslave us all forever?

You nailed it. It's sick and disgusting.

leavingirl · 17-06-2016 8:47pm

cantdecide wrote: »

Is there anything to be said for another government sanctioned attempt for big business to enslave us all forever?

You nailed it. It's sick and disgusting.

BattleCorp · 17-06-2016 8:57pm

Renting is grand while you are working and earning a decent wage and don't mind having to move from time to time.

The problems start if you have kids in school etc. Not so easy to move then.

And the real kicker is when you hit retirement. Good luck paying market rent then out of your pension.

Buy if you can. It's tough but as athletes say 'no pain, no gain'.

Grayson · 17-06-2016 9:29pm

BattleCorp wrote: »

Buy if you can. It's tough but as athletes say 'no pain, no gain'.

It's not just tough, it's impossible for many. If you're in dublin and have a 300k house you want to buy, that's a 30k mortgage deposit. Saving that money will take a couple a long time.

Then there's single people like me. I don't know if I'll ever get married. I may but it depends on if I meet someone. If I don't then suddenly for someone like me getting a deposit is twice as hard.

Akrasia · 17-06-2016 10:24pm

lawlolawl wrote: »

I bought my house in the middle of a recession like any sane person should and i have my mortgage 2/3rds payed off after about 6 years.

You can easily afford to own a house if you actually put some thought into the years-long commitment you are going to make.

You could try to be a little bit less smug about that....

nullzero · 17-06-2016 11:50pm

How is it always rich people with several properties to their names who make these comments?
Ireland has a terrible rental market which is essentially unregulated and whilst not outwardly anti tenant is still visibly pro landlord.
In a rental market where tenants are treated correctly these type of comments from elite nit wits can be seen as having some logical basis, but in the current rental climate in Ireland anyone making these type of comments simply puts themselves in the Marie Antoinette role of essentially saying "let them eat cake".

donegaLroad · 18-06-2016 1:03am

All in favour of the 30 year mortgage system, please consider this......

A builder builds my house for €120k, and sells it for an asking price of €220k.

(part of the profit includes his labour costs for a year or so)

I decide to buy the house and get mortgage approved by the bank for €200k @ 4% for 35 years. I end up paying approx. €360k over the period of the mortgage.

After I pay my mortgage after 35 years, I now have a house worth over €400k, maybe more with a bit of luck.

I decide to sell it, and a young couple come for a viewing, they like the house and decide to buy.

They are approved by the bank for a 30 year mortgage, say for the sake of argument €360k @4% over 30 years, they will end up paying roughly €650k over the term of the mortgage.

After 30 years, they now have a house worth €750k (all being well), and they decide to sell,

in steps the next couple looking to buy the house.....

meanwhile, the government still keep getting their share of property tax, and the bank still make enormous amounts of money via mortgage interest...

ad infinitum

Everyone is getting screwed in this system

The only ones who are not, are the people who are paying cash up front on a property.

This 30/35 year mortgage scheme is not sustainable. Wages need to increase proportionately year by year, or this system is not sustainable.

JupiterKid · 18-06-2016 1:18am

People should be marching on the streets over the housing crisis. And this crisis is only set to get worse.

thee glitz · 18-06-2016 1:24am

nullzero wrote: »

anyone making these type of comments simply puts themselves in the Marie Antoinette role of essentially saying "let them eat cake".

She really didn't say that.

storker · 18-06-2016 1:26am

conorhal wrote: »

What yer wan actually means is that the plebs will have to be trained to accept that all their desposable income is to be funneled to the few, and the chances of accumulated wealth will deminish to nil. From now on you will 'owe your soul to the company store.'

I think it's becoming ever more clear that what keeps the 1% (who own 99%) awake at night is the thought that there's 1% left that they haven't got their claws into yet...

eeguy · 18-06-2016 1:43am

storker wrote: »

I think it's becoming ever more clear that what keeps the 1% (who own 99%) awake at night is the thought that there's 1% left that they haven't got their claws into yet...

I don;t think there's a 1% and a 99%.

Most of the luxury's of the last 2 decades are affordable to many.

Who'd have thought that people would eagerly pay for a 600 euro phone?

It's just that property prices are through the f*cking roof for no reasons other than lack of supply.

The govt. have an obligation to ease the demand though building and granting permissions.

The problem is speculators and developers who are content to sit on property until prices reach another Tiger peak.

okiss · 18-06-2016 2:15am

For people their are advantages and disadvantages to both renting and buying.

If you can get a deposit together for a house/apartment that suits you and that you can afford even if interest rates go up try to do this. The problem is now that there are less houses for sale, the banks are not giving out money the way they were in a the past and the days of the job for life are gone.
The majorty of people are trying to go to where they can get work. At this stage Dublin and the major cities need 2 good incomes to get a mortage.

Meanwhile the rental laws in this cournty are not good either for a landlord or a tennent. A bad tennent who refuses to pay rent and wreks the place takes a long time to get rid of. The landlord then has to fix the place, pay the mortage/tax and costs not covered by the last tennent.
A landlord then won't go near x type of tennent again after this.
Some of the place for rent in Ireland you would feel bad letting the family dog stay in them.

A few years later the tennent still can't buy a house as they can't save a deposit to pay a mortage. They now could have a child or 2 in the local school. Next thing the landlord tells them I am selling the house/taking it back for my own use. The tennent then has x number of days to get another place to live. In some towns in Ireland it is not easy to get another place to rent even if your not on a tight budget or a limited income.
The cost of rent has gone up for the majority of places in Ireland.

Then you reach the oap stage. You may have a small pension or may be dependant on the state pension. Trying to find money to cover rent at this stage won't be easy along with this you will pay higher bills for heat, medical bills ect.

The reality for a lot of people out their now is that home ownership is something they would like but is it something they cant afford. I know friends of mine who got help from parents and relatives to buy property. In some cases they lived at home rent free when they were saving for a deposit.
Some people have it far easier than other getting on the property ladder so to speak.

The rules need to be changed soon in Ireland in regards to renting. The goverment need to build more social/affordable houses. People need to be in a position that they can rent long term if they wish in the one house or apartment. Also we need to build smaller places in communities for elderly people so they have the option of leaving large expensive family homes if they wish but can still be near friends/neighbours.

kravmaga · 18-06-2016 2:37am

The_Valeyard wrote: »

Go home Yank,

Tis my field.

Louise Phelan, does not sound like she is American to me, but dont agree with her opinion or views on the matter, let her fcuk off back to noddy land

smash · 18-06-2016 8:12am

donegaLroad wrote: »

All in favour of the 30 year mortgage system, please consider this......

A builder builds my house for €120k, and sells it for an asking price of €220k.

(part of the profit includes his labour costs for a year or so)

I decide to buy the house and get mortgage approved by the bank for €200k @ 4% for 35 years. I end up paying approx. €360k over the period of the mortgage.

After I pay my mortgage after 35 years, I now have a house worth over €400k, maybe more with a bit of luck.

I decide to sell it, and a young couple come for a viewing, they like the house and decide to buy.

They are approved by the bank for a 30 year mortgage, say for the sake of argument €360k @4% over 30 years, they will end up paying roughly €650k over the term of the mortgage.

After 30 years, they now have a house worth €750k (all being well), and they decide to sell,

in steps the next couple looking to buy the house.....

meanwhile, the government still keep getting their share of property tax, and the bank still make enormous amounts of money via mortgage interest...

ad infinitum

Everyone is getting screwed in this system

The only ones who are not, are the people who are paying cash up front on a property.

This 30/35 year mortgage scheme is not sustainable. Wages need to increase proportionately year by year, or this system is not sustainable.

You keep saying how everyone's getting screwed but your examples keep showing how these same people are making large profits.

The J Stands for Jay · 18-06-2016 10:11am

smash wrote: »

But so what? It only matters if you're trying to sell. Everyone knows people in negative equity, but the number of people in negative equity who want to sell is relatively small.

I sold a place in negative equity and was given another mortgage to buy another place.

genericguy · 18-06-2016 10:20am

donegaLroad wrote: »

All in favour of the 30 year mortgage system, please consider this......

A builder builds my house for €120k, and sells it for an asking price of €220k.

(part of the profit includes his labour costs for a year or so)

I decide to buy the house and get mortgage approved by the bank for €200k @ 4% for 35 years. I end up paying approx. €360k over the period of the mortgage.

After I pay my mortgage after 35 years, I now have a house worth over €400k, maybe more with a bit of luck.

I decide to sell it, and a young couple come for a viewing, they like the house and decide to buy.

They are approved by the bank for a 30 year mortgage, say for the sake of argument €360k @4% over 30 years, they will end up paying roughly €650k over the term of the mortgage.

After 30 years, they now have a house worth €750k (all being well), and they decide to sell,

in steps the next couple looking to buy the house.....

meanwhile, the government still keep getting their share of property tax, and the bank still make enormous amounts of money via mortgage interest...

ad infinitum

Everyone is getting screwed in this system

The only ones who are not, are the people who are paying cash up front on a property.

This 30/35 year mortgage scheme is not sustainable. Wages need to increase proportionately year by year, or this system is not sustainable.

Are you actually whinging because banks make money on loans? You haven't demonstrated any sustainability of lack thereof, you've just moaned that banks make money for lending money.

Gwan back out protesting about deh water

donegaLroad · 18-06-2016 10:43am

genericguy wrote: »

Are you actually whinging because banks make money on loans? You haven't demonstrated any sustainability of lack thereof, you've just moaned that banks make money for lending money.

Gwan back out protesting about deh water

see post #77

dev100 · 18-06-2016 11:11am

Timberrrrrrrr wrote:

I think she is right , too much in the Irish mindset that you need to own your home, it's been drilled into generations of people that they should own a home.

When you are 65 and retired and your wages is now down to whatever your pension is ..... what do you do ?

kupus · 18-06-2016 11:21am

dev100 wrote: »

When you are 65 and retired and your wages is now down to whatever your pension is ..... what do you do ?

Tighten your belts and eat bread.

padd b1975 · 18-06-2016 11:31am

dev100 wrote: »

When you are 65 and retired and your wages is now down to whatever your pension is ..... what do you do ?

The glib answer is to plough every last penny into a pension scheme, we all know how they have performed in recent years!!

dev100 · 18-06-2016 12:06pm

kupus wrote:

Tighten your belts and eat bread.

padd b1975 wrote:

The glib answer is to plough every last penny into a pension scheme, we all know how they have performed in recent years!!

Bread isn't cheap either )

Pension scheme I had that argument with a pension advisor / salesman.

the evasion_kid · 18-06-2016 12:53pm

The system favours the 1%...try even starting a small business these days...absolute minefield

genericguy · 19-06-2016 11:07am

donegaLroad wrote: »

see post #77

No I'm not going rooting through your ill informed shyte.

c68zapdsm5i1ru · 20-06-2016 9:55am

lawlolawl wrote: »

I bought my house in the middle of a recession like any sane person should and i have my mortgage 2/3rds payed off after about 6 years.

You can easily afford to own a house if you actually put some thought into the years-long commitment you are going to make.

Yes, well life isn't that simple. I'm sick of people trying to make out that they were 'clever' by buying their house during the recession. Most of them just got lucky with their timing.
And to be honest, even people who bought during the recession would have needed a hefty deposit to have two thirds of a mortgage paid off in six years.

Winterlong · 20-06-2016 9:59am

Baylor Long Riverside wrote: »

Yes, well life isn't that simple. I'm sick of people trying to make out that they were 'clever' by buying their house during the recession. Most of them just got lucky with their timing.
And to be honest, even people who bought during the recession would have needed a hefty deposit to have two thirds of a mortgage paid off in six years.

Getting a mortgage was also very difficult post 2008. You needed a dead cert of a job and had to show a lot more financial history than before. So only the lucky few were getting approvals, not the clever ones IMO.

I reckon a lot of people wanted a mortgage during that time but simply could not get one.

Floppybits · 20-06-2016 10:03am

Jawgap wrote: »

HensVassal wrote: »

Do you own a car or rent one?

I lease. it makes more sense with a depreciating asset.

Home ownership is not for everyone, but it seems in this country people are convinced otherwise.

Who are you leasing the car off? I am interested in that. Can drive around in a nice car and anything that goes wrong drop it back to the folks I lease it off to fix.

Winterlong · 20-06-2016 10:18am

Floppybits wrote: »

Who are you leasing the car off? I am interested in that. Can drive around in a nice car and anything that goes wrong drop it back to the folks I lease it off to fix.

leaseplan are the biggest operators in ireland - i think.

Maximus Alexander · 20-06-2016 10:21am

I'm going to buy a house. She can f*ck off.

TheDoc · 20-06-2016 11:47am

adam14 wrote: »

How are people supposed to rent when they retire? Where is the money to come from - approx 60% of people have no private pension.

A problem barely getting mention in this housing crisis issue, that if it continues longterm and me move to a move rent based situation, there needs to be some serious new legislations and care put in place to cope with the retired segment of the population.

Also this article, which is really a link to a quote, can go and ****. "Millionaire exec tells people to stop wanting nice things".

Paypal are curiously using the housing issue as a constant redline article. Feels like they are either laying the excuses early for their exit from Ireland, or trying to cut costs with staff and have them point the finger elsewhere

Akrasia · 20-06-2016 1:13pm

Baylor Long Riverside wrote: »

Yes, well life isn't that simple. I'm sick of people trying to make out that they were 'clever' by buying their house during the recession. Most of them just got lucky with their timing.
And to be honest, even people who bought during the recession would have needed a hefty deposit to have two thirds of a mortgage paid off in six years.

Yep, Ordinary people are basically stuck between a rock and a hard place. During the bubble prices were increasing massively but banks were throwing money at people, but after the crash, houses became affordable again, but nobody could get a mortgage cause the banks were busy shutting the barn door after the horse had bolted.

People with liquid assets were able to make a fortune hoovering up land and houses and businesses that were going in fire sales

allibastor · 20-06-2016 2:22pm

She is only saying that because the talent retention people at Paypal cant recruit due to now housing for new staff.

More people would rent here, but renting is sh1t. Poor quality houses where the LL refuses to do work or upgrade.

cerastes · 20-06-2016 2:35pm

smash wrote: »

They could shop around, it's what people do in other countries. In Ireland however, people seem to have a weird sense of loyalty to their bank who are ripping them off so much.

shop around, but what difference does that make if there isnt value nationally in banks?

Michael D Not Higgins wrote: »

If you can afford it buy, especially within the current central bank limits. In the long run it's better but I wouldn't call rent dead money. Renting is a service and it protects you from costs like structural repairs and provides flexibility of living, particularly for young professionals. Comparisons to central European regimes are flawed as there needs to be a cultural, legal and mindset shift that would take decades to implement.

I think flexibility of living has been shown to not be the case, renters in many cases are tied to existing contracts for fear of what may come if they move to a new landlord, thats not even to mention the availability.
As for protection from costs like structural repairs, expect any costs to be passed along generally, but if its a hedge fund you are garaunteed it will be spread across everyone.
the protection from rent increases needs to be parallel to protection for landlords from costs from local authority or state body's such as excessive taxation.

nullzero wrote: »

How is it always rich people with several properties to their names who make these comments?
Ireland has a terrible rental market which is essentially unregulated and whilst not outwardly anti tenant is still visibly pro landlord.
In a rental market where tenants are treated correctly these type of comments from elite nit wits can be seen as having some logical basis, but in the current rental climate in Ireland anyone making these type of comments simply puts themselves in the Marie Antoinette role of essentially saying "let them eat cake".

More like, dont even think about cake, might get some crumbs.

TheDoc wrote: »

A problem barely getting mention in this housing crisis issue, that if it continues longterm and me move to a move rent based situation, there needs to be some serious new legislations and care put in place to cope with the retired segment of the population.

Also this article, which is really a link to a quote, can go and ****. "Millionaire exec tells people to stop wanting nice things".

Paypal are curiously using the housing issue as a constant redline article. Feels like they are either laying the excuses early for their exit from Ireland, or trying to cut costs with staff and have them point the finger elsewhere

How do you think that will be handled? oppresive over regulation to foist the problem onto the few remaining legitimate landlords by well meaning but oppressive nannying liberal fascists.

Michael D Not Higgins · 20-06-2016 2:51pm

cerastes wrote: »

I think flexibility of living has been shown to not be the case, renters in many cases are tied to existing contracts for fear of what may come if they move to a new landlord, thats not even to mention the availability.
As for protection from costs like structural repairs, expect any costs to be passed along generally, but if its a hedge fund you are garaunteed it will be spread across everyone.
the protection from rent increases needs to be parallel to protection for landlords from costs from local authority or state body's such as excessive taxation.

It's in relation to a mortgage, of course renting is more flexible than buying a house. If you got laid off and had to get a new job in another part of the country, you can negotiate with the landlord to break the lease or assign the remainder of the lease so you can move elsewhere. Not so easy when you have a mortgage.

Sure there may be some supply issues right now but that's also affecting the buying market.

As for the costs, the market rent is the market rent, it's completely separate from the landlord's financial situation. The rents are high now because of supply but rents were being revised downwards around 2009/2010 because of the crash. If the landlord suddenly had a big bill related to the property there was no way to increase the rent to get anything back because tenants could just move somewhere cheaper.

21-06-2016 10:20am

So we have stopped blaming the banks so instead, we're blaming hedge funds.

Anything but being angry at your friends, neighbours, family and colleagues.

cerastes · 21-06-2016 4:26pm

Deleted User wrote: »

So we have stopped blaming the banks so instead, we're blaming hedge funds.

Anything but being angry at your friends, neighbours, family and colleagues.

Yeh, sure didn't we all party?

27-06-2016 2:35am

cerastes wrote: »

Yeh, sure didn't we all party?

No. But I'm sure you know a few people who flipped houses or bought them to rent and you don't blame them in the slightest.

geronimo123 · 13-12-2021 9:54pm

Oh yes, the same obnoxious lady that was complaining a few years ago to the media that the Irish education system wasn't up to scratch by not providing local multi-lingual graduates for her business! that we should be adding Swedish, Danish, Dutch, etc to the Leaving Cert curriculum, like seriously?...so Paypal wouldn't have to be scouting around Europe looking for young staff for their poorly paid call centre jobs. I'd like to stick her into one of Eoghan Murphy's shared housing co-operatives whenever they get around to building them!

Sunny Disposition · 14-12-2021 2:16am

The time when people like her were taken so very seriously is coming to an end I think.

The country is moving sharply to the left and when you see these kind of nonsensical statements from people who have some influence it’s not hard see why.

Home ownership is a very good thing for a country/city/county and for individuals. Don’t be fooled by talk that Ireland is not ‘European’ enough or any similar bs, home ownership is a good thing and the fact it is not possible for many people nowadays is a massive negative.

Wealthy people saying we should just suck it up, fck them. Sorry.

Strumms · 14-12-2021 3:55am

How ridiculous is this **** she was spinning...

why don’t we all get over owning other things, things needed and which we could pay a fortune to instead simply utilize but that less to actually own where we have security and an asset too..

should we get over owning...

cars

guitar collections

artwork

....

like I said in a previous thread it’s only a time before some of these gimps want to requisition our properties.... sorry we have to requisition your three bed house as only you a single person don’t ‘need’ it...

your SUV as you as a ‘single’ person don’t need it.

fûckin democracy not a communist utopia

Peregrinus · 14-12-2021 4:13am

https://www.boards.ie/discussion/comment/118318174#Comment_118318174

Advocating wider property ownership is not a move to the left, Sunny.

Luttrell1975 · 14-12-2021 7:58am

Any other country in the world this comment doesn't get picked up, nor does it offend anyone.

Wibbs · 14-12-2021 10:22am

The thing about the average person owning a home, or owning pretty much anything of value is quite a recent one. Up until around WW2 the vast majority rented and the very rich(and corporations) held all the cards. The post war boom in the US gave your average family the idea and reality of their own home with a picket fence in suburbia, with their own car. With fins and a V8. 😁 Then a little later on "cheap" credit came along with the credit card. Ireland was behind the curve because of our relative poverty as a nation but we caught up.

So owning rather than renting stuff is quite a short blip in human history and the very wealthy want their control back(governments like it too). It's not a conspiracy theory or any of that ballsology. Follow the money and follow human nature and it's all in plain sight. Remember records and CD's and videotapes and DVD's? Where you "owned" your music and films and TV series? Now people mostly rent them. If you've a phone contract you're essentially renting your phone, in between its short life from factory to landfill, until the next dopamine hit comes along. Cars will almost certainly be rented and controlled by the manufacturers more and more. Pretty much everything save for the clothes on your back will be a rented "utility". It simply makes for better and more consistent profits for the wealthy.

14-12-2021 10:29am

Mup the resurrection of a 5 year old thread 😂

lawred2 · 14-12-2021 10:34am

https://www.boards.ie/discussion/comment/100066755#Comment_100066755

hardly uniquely Irish

FishOnABike · 14-12-2021 11:28am

Maybe she should follow her line of thought to its logical conclusion and distribute PayPal's assets evenly among everyone in every country PayPal has a corporate presence. Or does not owning things only apply to others.

Sunny Disposition · 14-12-2021 4:43pm

https://www.boards.ie/discussion/comment/118318909#Comment_118318909

The fact that people like this woman are asked their views at public events and the responses end up reported in national papers says quite a bit about how the country has been for maybe 20 years now. Paypal is a financial tech company ffs!

14-12-2021 4:51pm

Why we are getting upset over this person is beyond me. People do whine too much, get your act together, start saving, find a partner with a decent income, and maybe, just maybe, you can join the rest of us in home ownership, you plebs.

NSAman · 14-12-2021 4:59pm

So rent on a two bedroomed apartment in the docklands runs at 3-5K per month.

What mortgage would that allow someone to purchase a home?

Sorry, this lady needs a swift kick in the G** and I am sure she owns a home herself.

Property ownership is not only about bricks and mortar. It gives you stability. It allows people to make lives, families and a certain lifestyle. It allows people to be creative with the property that they OWN.

Renting has it's place but to set down roots, buying is the only option IMHO.