Sloppy_Joe wrote: » Says the figures that building numbers have dropped.
Sheeps wrote: » If builders can't turn a profit on houses during a housing crisis, they shouldn't be building. It's very simple. Lending rules stay, build for demand, profit.
JJJackal wrote: » Yes, I am saying they wont take your house of you here; and if they do it takes many many years. There is lots of evidence in the newspapers and repossession rates to support this. Banks are a business - they have to protect themselves. Do you think the banks should give everyone who comes in whatever amount of money they want? And yes banks should only lend to a person what they think the person can pay back
Sloppy_Joe wrote: » In that case why not allow 5 x salary then?
JJJackal wrote: » Because when you cannot pay back your house, I dont want to pay your debts
Sloppy_Joe wrote: » So you agree they are only protecting banks and that renters can go **** themselves?
riclad wrote: » The government could give large sites to developers free with one condition, 20 per cent of units must be avaidable for social housing. I presume buying a site in dublin or other citys is a large part of the cost of a house .
Bluefoam wrote: The socialist housing policy isn't working.
JJJackal wrote: » Should social housing be built on very expensive sites to begin with? Or perhaps there are less expensive areas in Ireland where they could be built. Potentially facilitating rural expansion in some areas, smaller schools staying open, local shops...
Interested Observer wrote: » Is this not because of unsold stock out there? If so, a price increase doesn't seem like the best way of shifting it.
Sloppy_Joe wrote: » What unsold stock? Why would there be unsold stock when everyone is doing as best they can to buy.
SozBbz wrote: » Local authorities up and down the country have tonnes of appropriate land already in their ownership. That includes Dublin. They are just inable to build for whatevre reason. Seems all the competency is gone and no one is doing anything to change that. We need to copy the model of housing associations or similar from the UK or other countries that still build social housing.
Sloppy_Joe wrote: » Builders are literally walking away from jobs because they can't make profit on it... The cost of building a house isn't a scale related to the cost of purchasing a house.
in the four quarters to the first three months of this year, there were 2,500 more units built than sold nationwide. Most of this occurred in Dublin, where new supply was 6,905 and purchases were 5,093.
OwlsZat wrote: » The chairman of the Irish Home Builders Association was on the radio spelling out that sales are slowing across the country and there is a volume of available stock in most new developments. He calls out that prudent lending restrictions are making the properties too expensive for new buyers. The inputs are land, materials and wages. Leaving wages alone the Government is the biggest land hoarder in the country and it can release significant amounts of land to build on at anytime. Material costs are also partially under Government control. David McW has called out that there is a duopoly in the sales of building materials here. He uses concrete as an example cited as twice as expensive as the UK. Obviously, Government should setup a task-force to review/investigate/correct this. Further to this, given the housing crisis it could also choose to temporarily reduce the VAT paid on building materials. Much like was done in the tourism sector. When you consider the list of available options the housing minister has, it's not surprising his performance almost collapsed the Government. Don't think they will be so lucky next time around.
Interested Observer wrote: » There is plenty of information out there, for example.https://www.irishtimes.com/business/construction/despite-shortage-houses-being-left-unsold-1.3928592 Why? I'm not exactly sure, the market is slowing, people feel property is too expensive, but there IS unsold stock. It's simple a fact.
ZX7R wrote: » Unsold stock is mainly a Dublin problem,as with most things it does not really represent the county as a hole . That is down to price and price only
ZX7R wrote: » I would love to see there stats on the volume of unsold stock,the greater Kildare area most sites especially computer blelt have planning in for second third developments,these developments are not been sought if things are not selling. A good example is planning in for 800 houses in maynooth
Mic 1972 wrote: » There was a 2% drop in asking price in Dublin which means nothing to the potential profit of building new homes. If builders were able to make a profit 2-3 years ago when prices were lower, sure they are making a profit now. From the Irish Time below, builders are not at all walking away, they are finding it difficult to get funding for additional building until those unsold inventories are reduced, Mr O’Leary saidhttps://www.irishtimes.com/business/economy/housing-policy-under-fresh-scrutiny-as-home-building-stalls-in-dublin-1.4075676
snotboogie wrote: » Most of the SHD planning applications are not being built. Sites covering 66% of the homes on the scheme have seen no construction. Because of the 100 home minimum, these applications are exclusive to high demand areas; Dublin, the commuter counties, Cork and a handful in Galway.
Cuddlesworth wrote: » A 2% drop means everything because of the risk of it turning into a greater number. If an investor wants to create a couple of hundred houses, it plowing money into something that will be sold 2-3 years down the line at best. It could mean profit or it could mean significant loss(see 2008 for reference). 2% can easily turn into a greater number, demand or no demand. Consumer confidence can make or break this market. If we see a stall, with stagnant or inflation led pricing then we are looking good. But if that 2% turns into 5% which leads to another market crash, your going to see builders and investors bailing out as quickly as they can.
Mic 1972 wrote: » House prices are at their peak, builders aren't going anywhere just because asking prices are adjusting to real sale prices. If prices dropped to 2015-16 levels, which is about 20% less than today, builders would still make a profit They aren't going to stop building. As stated in the article, they are having problems getting funding at the pace they were before because money comes from selling the current stock and things have slowed down. The 2% drop in asking price is meant to speed up sales, if you look at the latest PPR sales for Oct and Sep, there is no real sale price decline
Cuddlesworth wrote: » while prices in Dún Laoghaire-Rathdown, typically seen as a bellwether for the rest of the country, saw a decline of 6.3 per cent. Might just be a blip but it can easily snowball into something larger.
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