Fol20 wrote: » Your views are very idealistic wanting everyone to get an affordable home when in reality, this will never happen. Peoples expectations of life are very different now compared to our parents. People go on multiple holidays, new cars, gadgets etc while still wanting their forever home. We are a much more modern society now and with this will come with housing situations - similar to many other western countries. You cant nullify the cost of land, building, margin builders need to achieve and credit availability and make it get cheaper. Standards of properties where it will decrease new builds to a level of affordability you want will never happen. Everyone needs to get a cut of the money from start to finish. If you remove any part of this supply chain, the rest will fall like dominos and no houses are built.https://www.newstalk.com/news/heres-how-much-it-costs-to-build-a-house-597037 Take a look at a sample above back in 2017. All these prices have gone up substantially then but even then builders only had a margin of circa 10pc which is extremely low for a business to operate on. The only realistic attitude which is gradually happening is long term rentals.
Browney7 wrote: » At what rental price though? €1800 for a two bed fairly bog standard apartment when the equivalent mortgage would be far below this isn't sustainable for long term rental
Fol20 wrote: » The only realistic attitude which is gradually happening is long term rentals.
Assetbacked wrote: » That's very idealistic but not in line with current policy or attitudes of Irish people.
Fol20 wrote: » Or you change our society where home ownership is not the norm and you create a mature long term rental market. Not everyone can and should own a home.
Assetbacked wrote: » I'm not saying to take from them what they bought and struggled for, I'm talking about preventing so much wealth getting pumped into hyper-inflated property prices by bringing in measures to greatly reduce the cost of buying homes in Ireland as we are very much a society where home ownership is something people have to aim for and not long-term renting.
Assetbacked wrote: » But then how did property prices crash during the great recession after 2008? You are claiming that property prices will continue to rise even though we already know we are in another property bubble of sorts.
Assetbacked wrote: » we already know we are in another property bubble of sorts.
Bluefoam wrote: » So by forcebly reducing property prices by 40% you will either push people into massive negative equity, with debt greater than the value of their assets, or you will take wealth away from those who have worked hard to gain it. BTW massive international firms will realise this drain and march right back in to take a slice of the pie... Alternatively, you could meet the world economy, allow house prices to trend in line with international levels & house many people by improving rental conditions. No matter what you do, property prices will increase, due to world markets and inflation. It is written.
Assetbacked wrote: » The post I was replying to said this; This post misread what I was saying - I was not complaining about people in the present day who are buying, but rather was complaining that property prices have inflated dramatically in recent decades, compounded by the rental crisis. The burden on those renting and hoping to buy is disproportionately against them. House prices need to dramatically climb down or else the burden on income-tax paying, renting workers should be alleviated by extracting some of the wealth in property back into the exchequer.
Bluefoam wrote: » I actually don't get what you are saying, probably because you are all over the place... but, the article above was about nimbyism and its effect on the market. What you are talking about is taking from people who bought and stuggled to own their property in order to give to those who don't... So, when you eventually own your property and have security for your future, are you going to willingly give up your property to help those who don't own yet? Bearing in mind we will be living in a completely different ecoomy at that time... Are you going to give up whats you have built and put your future/your retirement in the hands of the young people & trust them to do the best for you? I certainly wouldn't.
Bluefoam wrote: » 1.You don't benefit from DMW's eloquence with words 2.I'm not sure you fully understand the article 3.Yes I understand what he's saying.... But... 4..... That is not what you said above
beauf wrote: » You are complaining that people buying property and having it appreciate are blocking those who want to buy. But those unable to buy they did manage to buy then are they not doing exactly the same thing?
alwald wrote: » Why take a debt when there is a massive budget for housing overall? Shouldn't this miserable government use those funds to build more? Other than that I agree with the fact that this government isn't going to do anything and that next elections are key.
Assetbacked wrote: » The ironic thing is that, if I was caught in the rental crisis until my 40s, I won't actually have to worry about the above as I won't have any security into retirement meaning the State will have to pick up the tab.
Assetbacked wrote: » Pushing credit onto people is what caused the last recession. Prudent lending went out the door. You can't blame people for taking "free money" (equally, people need to accept they over-extended and take their justified evictions). The current crisis has emerged due to the lack of apartment and home building the last 10 years so it is the solution to get appropriate housing built in the areas that need it.
Assetbacked wrote: » I'm not saying it is they themselves but a system which pervades allowing them to benefit disproportionately. This article explains it quite well http://www.davidmcwilliams.ie/contented-classes-could-be-biggest-threat-to-irish-economy/
Bluefoam wrote: » lol... I don't know what to do with this... These are exactly (some of) the conditions that created that last recession. It doesn't work. It hasn't worked, thats why they stopped it. It litterally caused death and destruction.
beauf wrote: » Maybe you'll explain how they are sucking wealth from the younger generations??? Give it 30 yrs and consider its you, facing huge property tax, perhaps poll tax, rates etc and massive health insurance bills, nursing home fees of 100k a year, and all pensions raided until they are worth nothing. I think you might realise that is not the older generations, but the Govts you've voted in that are sucking your wealth from you.
Mickiemcfist wrote: » Have you just landed in Ireland, or just got a newly found interest in the Irish property market? Have a read up on what has been happening over the last decade...
Assetbacked wrote: » By having to borrow many multiples of their salary just to give to a property owner, indebting themselves to a bank for decades in the process. Pumping so much money into property via rent or a mortgage is such a waste.
