Investors literally have billions of euro that enables them to buy up entire apartment blocks to rent out. They have identified that our dysfunctional housing market is unlikely to ever be able to supply the volume of homes at prices that are affordable for ordinary buyers.
optogirl wrote: » I just keep thinking, hoping, that something has to give but I've been thinking that for a long time now. Very frustrating to think that I will be stuck in the rental sector with no security & ever increasing rent.
Sheeps wrote: » Pretty telling results in the Irish Times political poll today also:https://www.irishtimes.com/news/politics/poll Sinn Féin who are arguably leading the housing debate are dominating support in the under 35's, where as Fine Gael only begin to take the lead in the opinion polls after 35. In my view the fact that the average first time buyer is now 34 is no coincidence, and reinforced by the fact that people who are unmarried (who also find it hardest to get on the housing ladder) are also highly supportive of Sinn Féin. There are obviously other factors here, but hard to see how housing wont dominate the next general election.
Bluefoam wrote: » I'm pretty sure that the powers in world economy dont want you to own your property... They want you to rent a home, pay monthly insurance, phone bills, heating and energy, bins collection, car payments, subscribe for wifi, TV, music, netflix, amazon prime, house alarm... even your doorbell needs a subscription these days... They want to lock you in... nice diligent subsiption based humans are better than free thinking, financially independent ones. The key is to buy your house & do it as soon as possible. There will soon be a divided society... those who own & those who don't.
Fol20 wrote: » Their economics policies leave a lot to be desired with no critical thinking or logic behind them. Its all buzz words and fluff with nothing to back it up.
Sheeps wrote: » Do you honestly believe Eoin O'Broin is just talking fluff on housing?
Pussyhands wrote: » More economic forecast cuts...Brexit 3 weeks away..https://www.rte.ie/news/business/2019/0306/1034610-oecds-interim-economic-statement/
Sunrise_Sunset wrote: We're currently house hunting. I wonder should we wait until after Brexit?
Fol20 wrote: » Im talking general terms for Sinn Fein and when they are so socialist in nature, where are they going to receive the funding for all of their ïmprovements"
Browney7 wrote: » It's true their economic policies leave a lot to be desired but FF were in power when the economy was driven off a cliff and FG have presided over the last number of years which has resulted in rocketing rents. Younger people will aspire to owning their own place and not getting fleeced to put a roof over their head in rent. Vote FG and FF and it's more of the same, vote SF and it "may" change. It's not surprising people with sweet FA are gravitating towards what they want to hear. Property ownership has always been used as a means of political control - right to buy and Maggie T and all that.
Fol20 wrote: » The problem however is they provide a lot of miss information and if they ever get into the power they could drive ireland even further off a cliff compared to the people we have right now. I actually think FG is doing a worse job than FF for their housing policies. One interesting thing i saw on the the continent is small studio apartments for sale where they would be circa 10m squared in total. Its not ideal for a family however as a stepping stone to something where it provides some the option of not renting and getting one of these instead, i think it might be a good proposition. Even in cities such as Paris these were affordable.
AlmightyCushion wrote: » I thought you must have got the size wrong because 10sqm sounds absolutely horrendous. Turns out it's true but they are horrendous and not even cheap.https://www.green-acres.fr/en/properties/56363a-458.htm €85,000 for that tiny piece of crap! That is not the solution to our housing issues.
scheister wrote: » The prices are very annoying at the moment. I will be looking to buy next year. Ill give an example from where i live. Back in 2013 a 2 bed townhouse went on the market for 100k so first time buyer needed to earn €25,714 assuming singly buyer. one of its neighbours still a 2 bed townhouse is now on the market at 215k so the same buyer needs to be on €55,285 a year now to get a mortgage.
abcabc123123 wrote: » That looks like a stepping stone to suicide. Good god.
coolshannagh28 wrote: » We are at the forefront of this model since the crash with vulture funds, REITS,and hedge funds the preferred landlords with guaranteed secure long term yields. We seem to be a model for the movement towards minimum income and our financial model lends itself to this experiment.
JJJackal wrote: » 98 You are comparing 2013 (the worst recession and housing crisis in memory) to today. Average Prices in 2013 were the same as in 2003 according to the cso website. Another way to look at house prices is to say that this type of house has increased from 100k (we dont know what price it was sold for?) in 2003 to 215k today (he may not get that)- just over a doubling of price in 16 years is probably ok - somewhere between 4-5% increase per year. Really Irish Housing is such a dysfunctional market!
pyramuid man wrote: » In relation to someone earlier saying that something may change if SF got into power, all I can say is this. If you think things are bad with property prices and interest rates bring charged by banks at the moment, look at what it could be. Sinn Feins policies will effectively stop mortgage lending and drastically increase interest rates for people who do have a mortgage. Their anti eviction and socialist policies will make it impossible for banks to take action against those who can but won't pay their mortgages and landlords will not be able to evict tenants under any circumstances from what I can see. In this respect they will make it impossible for banks to lend money as there will be no recourse for them to take action against defaulters. Purple who are in rental accommodation can't be removed so the rental market will stay full with nowhere for people to move on to. This doesn't appeal to me personally.
Mad_maxx wrote: » The low was 2012 and this brought Dublin prices back to 2002 but your points are correct otherwise Does anyone know how low the iseq got, the answer is 1992 levels and it dropped 80% in two years, gives you an idea how bad things were
Sheeps wrote: » We have a broken housing sector where rents are at an all time record high, tenants have no security, house prices are not in any way affordable, interest rates are the highest across Europe, we're not building enough private or public housing and there's no hope for the market to meet demand, traditional banks have too much of the market share in mortgages. The time for a brand new set of housing policies is now, and none of what you're charging Sinn Féin's policy on housing with is correct.
JJJackal wrote: » Policies need to be implemented that protect the tenant, the landlords and the banks. Favouring one over the other leads to dysfunction.
Sheeps wrote: » That's the way it is now. Things are so heavily stacked in favor of landlords and the banks.
