Irish Property Market 2020 Part 2

fliball123 wrote: »

Yes I did and what was wrong with what I replied? I dont know when his dad bought I couldnt have bought one on a brickies wage when I was buying it took my wage and the misses? I dont know where I have offended you?

You totally missed their point, whether intentionally or otherwise.

You didn't offend me. Just interesting to see how someone else chooses to (mis)read a pretty simple comment.

Cantstandsya wrote: »

Did you read what the poster actually wrote?

Yes I did and what was wrong with what I replied? I dont know when his dad bought I couldnt have bought one on a brickies wage when I was buying it took my wage and the misses? I dont know where I have offended you?

fliball123 wrote: »

Well aren't you just proof that it can be done? I am not saying its easy and you will be on the ladder and once your on when your more comfortable or moving on in your life as in a wife, kids whatever floats your boat you can trade up and when the kids fly the coup and you don't need the 4/5 beds anymore you can trade down. I have listed a fair few differences between now and when I was starting out but fair play and congrats on your gaff..go and enjoy it as you have made a lot of sacrifices for it.

Did you read what the poster actually wrote?

MacronvFrugals wrote: »

I went to college 4 years, study most weekends to get certifications and currently a programmer on 48k aged 24, live with my parents and nearly have the deposit up yet i'm still relying on the Rebuilding Ireland scheme to buy in a very rough part of D11, thats fine though i'm excited about getting my own home and understand how lucky i am.

Many of those weekends though i thought to myself this isnt sustainable only to a hyper introvert who loves learning like myself, is this the standard for a single person to own their own home now? if so its pretty miserable tbh.

This avocado toast attitude has ran its course, my dad often acknowledges he bought a 4 bedroom really nice house on 1 bricky wage in the 80s - compare that standard to now.

Well aren't you just proof that it can be done? I am not saying its easy and you will be on the ladder and once your on when your more comfortable or moving on in your life as in a wife, kids whatever floats your boat you can trade up and when the kids fly the coup and you don't need the 4/5 beds anymore you can trade down. I have listed a fair few differences between now and when I was starting out but fair play and congrats on your gaff..go and enjoy it as you have made a lot of sacrifices for it.

awec wrote: »

It wouldn't matter if someone ate koka noodles and toast twice a day and lived in their mum's attic, in the grand scheme of things it's insignificant, house prices have soared and wages have not kept up.

People on average salaries struggle to or just can't afford average homes.

It's nothing to do with sacrifice. The market today is totally different to what it was 20/30/40 years ago.

True back then FTB were not getting 30k off the gov
People were not guaranteed a place to live if on the dole
People with a few kids were not given a gaff taking more out of the stock of houses
REITS and Vulture funds were not snapping up property left right and center
Interest rates were 10 times what they are .
Wages are also up even if they have not kept up with property prices.
Stamp duty was multiple times what it is now
There was no property tax back then

Above are some conditions that have changed the property market that would help or stop people from buying a house where they want but if there is a will there is a way. Being honest if I was starting all over I would probably have to stay in and no holidays for another couple of years but 30k off the gov is one hell of help that was not available back when I was starting.

MacronvFrugals

fliball123 wrote: »

Well I did it, anyone I know in my extended family and friends who has a house now did it, my parents before me did it. Now weather it is right or wrong I couldn't answer that but on the flip side why should it just be handed to the current generation? All I know is that someone selling wont just go ahh look at this poor 20/30 something we have to help out this poor buyer out as they partied for a few years and had a lot of holidays and unfortunately now they have very little savings so lets drop our price to suit them. That is just not a reality we live in. If you want something you have to sacrifice and its not just in property but its pretty much how it works in all facets of life

I went to college 4 years, study most weekends to get certifications and currently a programmer on 48k aged 24, live with my parents and nearly have the deposit up yet i'm still relying on the Rebuilding Ireland scheme to buy in a very rough part of D11, thats fine though i'm excited about getting my own home and understand how lucky i am.

Many of those weekends though i thought to myself this isnt sustainable only to a hyper introvert who loves learning like myself, is this the standard for a single person to own their own home now? if so its pretty miserable tbh.

This avocado toast attitude has ran its course, my dad often acknowledges he bought a 4 bedroom really nice house on 1 bricky wage in the 80s - compare that standard to now.

fliball123 wrote: »

OK I will bite explain??

Explain what? Are seriously clueless enough to think being a FTB in the 90s is the same as today?

Cyrus wrote: »

the premise remains the same, buying a house is easier if you sacrifice,

previous generations were more likely to scarifice than current generations.

generally now, we want it all, and we want it now.

What does this mean?

Please show me the evidence that "previous generations were more likely to sacrifice".

It sounds like the usual dismissive guff that gets trotted out by a generation passively enriched by rocketing asset prices to convince themselves they earned their wealth.

Cyrus wrote: »

the premise remains the same, buying a house is easier if you sacrifice,

previous generations were more likely to scarifice than current generations.

generally now, we want it all, and we want it now.

It wouldn't matter if someone ate koka noodles and toast twice a day and lived in their mum's attic, in the grand scheme of things it's insignificant, house prices have soared and wages have not kept up.

People on average salaries struggle to or just can't afford average homes.

It's nothing to do with sacrifice. The market today is totally different to what it was 20/30/40 years ago.

awec wrote: »

No such expectation exists.

Ok you have lost me I never said it was easy for the current generation. I simply said that things should not just be handed to them. Do you see the difference? I have 2 kids and I know they will be running the same race and jumping the same hurdles you are. I do sympathize that some cannot afford to buy where they want but why should a seller sell at a lower price so that someone can afford to buy where they want and most likely where other people will want and will be willing to pay more?

fliball123 wrote: »

I never said they had it easy. I just said there should be no expectation of it being handed to them, big big difference.

No such expectation exists.

Cantstandsya wrote: »

No, you didn't do it. You bought a house in a property market that doesn't exist anymore.

OK I will bite explain??

awec wrote: »

This is one of the laziest, most patronising elements of society today, the idea that people buying today have it easy.

Anyone who thinks people struggle to buy houses today because they go out at weekends is an idiot. There is no other word for it.

I never said they had it easy. I just said there should be no expectation of it being handed to them, big big difference.

Cyrus

Cantstandsya wrote: »

No, you didn't do it. You bought a house in a property market that doesn't exist anymore.

the premise remains the same, buying a house is easier if you sacrifice,

previous generations were more likely to scarifice than current generations.

generally now, we want it all, and we want it now.

fliball123 wrote: »

Well I did it, anyone I know in my extended family and friends who has a house now did it, my parents before me did it. Now weather it is right or wrong I couldn't answer that but on the flip side why should it just be handed to the current generation? All I know is that someone selling wont just go ahh look at this poor 20/30 something we have to help out this poor buyer out as they partied for a few years and had a lot of holidays and unfortunately now they have very little savings so lets drop our price to suit them. That is just not a reality we live in. If you want something you have to sacrifice and its not just in property but its pretty much how it works in all facets of life

This is one of the laziest, most patronising elements of society today, the idea that people buying today have it easy.

Anyone who thinks people struggle to buy houses today because they go out at weekends is an idiot. There is no other word for it. It's that avocado toast nonsense.

It is always so bemusing to hear how easy it is today from people who bought a 3 bed house in Dublin on a single working class salary.

fliball123 wrote: »

Well I did it, anyone I know in my extended family and friends who has a house now did it, my parents before me did it. Now weather it is right or wrong I couldn't answer that but on the flip side why should it just be handed to the current generation? All I know is that someone selling wont just go ahh look at this poor 20/30 something we have to help out this poor buyer out as they partied for a few years and had a lot of holidays and unfortunately now they have very little savings so lets drop our price to suit them. That is just not a reality we live in. If you want something you have to sacrifice and its not just in property but its pretty much how it works in all facets of life

No, you didn't do it. You bought a house in a property market that doesn't exist anymore.

hometruths

brisan wrote: »

I bought my first house in 1982 as a 4th year apprentice
3 bed semi for 24500 pounds
Borrowed 18k at 16.5 %
Lads now complain about 3 or 4 % mortgages lol

Imagine how much they will complain if their 3% variable rate becomes 15%!

Shelga wrote: »

Do you think it's right that that is what someone has to do, in order to have a place to call their own? Do you think someone is a better person if they have zero life for 6 years and live with their parents for 6 years, well into their late 20s/early 30s?

Let's focus on the broken system, not pat ourselves on the back for the amount of misery points we accrued, while totting up our savings :rolleyes:

And yes, I'm well aware that "that's just the way it is."

Well I did it, anyone I know in my extended family and friends who has a house now did it, my parents before me did it. Now weather it is right or wrong I couldn't answer that but on the flip side why should it just be handed to the current generation? All I know is that someone selling wont just go ahh look at this poor 20/30 something we have to help out this poor buyer out as they partied for a few years and had a lot of holidays and unfortunately now they have very little savings so lets drop our price to suit them. That is just not a reality we live in. If you want something you have to sacrifice and its not just in property but its pretty much how it works in all facets of life

MacronvFrugals

brisan wrote: »

I bought my first house in 1982 as a 4th year apprentice
3 bed semi for 24500 pounds
Borrowed 18k at 16.5 %
Lads now complain about 3 or 4 % mortgages lol

Must have been tough competing with IRES back then lol

Cantstandsya wrote: »

So the fourth year apprentice should start saving for his deposit in third year of secondary school?

No but they should be saving as soon as they start earning and if they want to buy a house they will have to make sacrifices I have my gaff 20 odd years and I didn't go out side the door for about 4 years, my night out was a bar of chocolate, some pop corn and a rented DVD for the night, I would spend less than a tenner, my peers would be out in pubs and night clubs out on the lash spending 20 times that. It all depends on where you are and what you want to do. If you want to party and go on a few holidays a year when your in your teens and twenties go for it I dont begrudge you living that way but don't expect to pick up a house possible the biggest purchase you will ever make by saving for a few months, that just wont happen and no amount of pi$$ing and moaning will force people to lower the price of their property.

Wanderer78

fliball123 wrote: »

It is also attitude and entitlement..How many 4th year apprentices will sacrifice 5/6 years of not going out , not taking 2 holidays to the canaries and live with the parents saving on rent in order to get a deposit and to be in a position to buy. Its not just about inflation

Again, we now live in an entirely different world compared to previous generations, of high asset price inflation and low wage inflation, it's a hell of a lot to do about inflation!

Shelga

fliball123 wrote: »

It is also attitude and entitlement..How many 4th year apprentices will sacrifice 5/6 years of not going out , not taking 2 holidays to the canaries and live with the parents saving on rent in order to get a deposit and to be in a position to buy. Its not just about inflation

Do you think it's right that that is what someone has to do, in order to have a place to call their own? Do you think someone is a better person if they have zero life for 6 years and live with their parents for 6 years, well into their late 20s/early 30s?

Let's focus on the broken system, not pat ourselves on the back for the amount of misery points we accrued, while totting up our savings :rolleyes:

And yes, I'm well aware that "that's just the way it is."

fliball123 wrote: »

It is also attitude and entitlement..How many 4th year apprentices will sacrifice 5/6 years of not going out , not taking 2 holidays to the canaries and live with the parents saving on rent in order to get a deposit and to be in a position to buy. Its not just about inflation

So the fourth year apprentice should start saving for his deposit in third year of secondary school?

Akesh wrote: »

Some people really don't understand inflation... Imagine writing that post you quoted thinking you were making a valid point :eek:

It is also attitude and entitlement..How many 4th year apprentices will sacrifice 5/6 years of not going out , not taking 2 holidays to the canaries and live with the parents saving on rent in order to get a deposit and to be in a position to buy. Its not just about inflation

Akesh

awec wrote: »

How many 4th year apprentices do you think can buy 3 bed semi's today?

Some people really don't understand inflation... Imagine writing that post you quoted thinking you were making a valid point :eek:

wassie

brisan wrote: »

I bought my first house in 1982 as a 4th year apprentice
3 bed semi for 24500 pounds
Borrowed 18k at 16.5 %
Lads now complain about 3 or 4 % mortgages lol

I had this discussion the other day with someone who couldn't understand why I'm fine with my mortgage rate of 2.4% when I could switch & get 2.3%......

RANIA wrote: »

But if you have lost your job ate you not very unlikely to sell your house, knowing the bank won't give you another even smaller mortgage? Will people not just not pay and stay put?

That is exactly what will happen and what happened back in the last recession, sure why would you put yourself through the pain of going on the housing list or renting and then selling up at a lower value to what your house is worth. When you can just stick you fingers in your ears for a few years and gradually engage with the bank and PIPS and other left leaning orgs that will play the poor me card.