Villa05 wrote: » Regular source of dispute here: David McWilliams talks through why he believes that we need 50,000 units built per year in the last 12 minutes of this podcast: How Ireland really works
PropQueries wrote: » Looks like the opening salvo on Ireland's low tax rates has begun with the Chancellor increasing the UK's corporation tax rates from 19% to 25% from April 2023 in today's budget. That with the EU member states agreeing last week on new transparency rules for multinational companies reporting tax payments across the bloc, means the big economies are preparing to come after countries like Ireland very quickly IMO If continued FDI into Ireland has as big an impact on sustaining current property prices as I think it does, I think the above two news items are incredibly important IMO
thefridge2006 wrote: » This is all down to terrible government policies such as HAP. This scheme has done nothing but pump up rent and is still pumping it up. FFFG have done absolutely nothing to help the housing situation and i would go as far as saying if they did nothing for the last 10 years we'd be in a better posit6ion with regards to rental prices and selling prices. They are so incompetent
combat14 wrote: » looks like it is time to cut the dole, HAP payments, COVID payments and business supports the country simply afford all these payments at current rates and borrowing any more serious crisis on the way if we dont tighten our belt
PropQueries wrote: » That with the EU member states agreeing last week on new transparency rules for multinational companies reporting tax payments across the bloc, means the big economies are preparing to come after countries like Ireland very quickly IMO
awec wrote: » You're going to have to show your working out on this one I think. Can you explain how the UK (a non-EU state, in case you're unaware) raising it's corpo tax rate is a "salvo" on our (an EU state) tax rate? One Ireland's competitors for FDI is making it less attractive to invest there. This is terrible news for Ireland?
PropQueries wrote: » Because it gives us a very clear signal into the mindset of the negotiators from the bigger world economies during the current OECD global tax reforms which are due to be completed by the middle of this year IMOLow taxes are out. Big government is back. And, big government must be funded.
fliball123 wrote: » Your first sentence is wrong overpriced housing in the highly sought after areas in the country..Please stop extrapolation Dublin prices for the rest of the country. Also we have discussed the opinion that we are currently in a bubble with relation to house prices, you are yet to prove that we are currently in one. People have been shouting bubble since 2017 and the price of houses have not shown the same trajectory of being in bubble territory.
schmittel wrote: » 50,000 a year is madness. He's allowing 10,000 a year for obsolescence which is insane. He says this is conservative! His other assumptions are equally bonkers.
PropQueries wrote: » Because it gives us a very clear signal into the mindset of the negotiators from the bigger world economies during the current OECD global tax reforms which are due to be completed by the middle of this year IMO Low taxes are out. Big government is back. And, big government must be funded.
Yurt! wrote: » Housing agency report. Every major urban area (and more besides if you dig into it) are rated unaffordable by internationally defined and accepted metrics. Is housing in Leitrim affordable for a median earner? Yes. In the same way a house in Wallagongaroo in rural Queensland is affordable. But that doesn't mean Australia doesn't have the same type of affordability crises in its income generating cities (essentially where their economy is) as Ireland does. Rightly, people are losing patience with the wheeze that Ireland is affordable to the typical Joe and Mary in the middle of the income distribution just because some people with skin in the game says it is. It's blatantly a large and growing societal problem, and the penny is finally beginning to drop politically.
awec wrote: » You're overplaying your hand on this one. It sends a very clear signal that post-Brexit Britain is starting to move down it's inevitable path to change. You appear under the impression that we're all going to be trying to follow them down that same path, I for one am sceptical of this notion.
Villa05 wrote: » I think both situations are dire. Overpriced housing in a country with massive debt and costly future issues such as health and pensions or even higher rents Every bubble needs a bit of a push factor to help it blow larger Rents are that factor and will continue to be unless supply is addressed. If supply is not addressed it will be an added factor as well as health and pensions. Home owners and renters will then have to pay much higher taxes in the future to cover these 3 issues amongst others It all could be so very different, we could run the country in a way that helps our citizens or continue to pander to landowner interests to the detriment of everyone else including home owners There's a show on rte called how to be good with money where the presenter uses sugar cubes to explain financial conundrums to viewers If sugar cubes are used to purchase houses and you give customers more sugar cubes for this specific purpose. What do you think happens houses where supply is restricted Do you think they need more less or the same amount
fliball123 wrote: » I believe we are still in control of our taxes has anything changed? The drive to stop us with our corpo tax being low has been ongoing for a decade.
Hubertj wrote: » Is 50k the highest number so far? Are the developers even stating that?!? As for obsolescence perhaps he considers an acceleration in buildings having to be replaced? Georgian / Victorian houses become economically unviable to renovate / modernise?
awec wrote: » We still have the veto but it's not like we could veto proposals and they'd turn around and be like "ah that's grand lads, we'll just forget about it". There will be changes around taxation, compromises will be made. Saying no all the time won't work, we'll have to engage. The corpo rate may go up or it may stay the same. The idea that Ireland is set to be absolutely shafted is tenuous. The fixation on what the UK is doing is tenuous and ignorant of the huge elephant in the room on that front.
fliball123 wrote: » Well its been apparent that they have been trying to stop us using such a low corpo tax for a decade and have not been able to.. so what exactly has changed in the last month or so? The UK have shot themselves in the foot with Brexit and face 400 billion covid bill when we get out of this , their future is looking a hell of lot more bleak than Ireland's
schmittel wrote: » He's actually saying 55k a year, which I think is the highest I have heard. Re obsolescence he's not talking about an acceleration, or Georgian/Victorian, just going with the old chestnut based on long term average of 0.5% houses becoming obsolete every year.
MacronvFrugals wrote: » Having a direct phone line to the BOE printing press does offer a level of flexibility we don't have in fairness
PropQueries wrote: » Its quite frankly amazing that public servants can indeed sometimes talk some sense. But, apparently when it's only impacting on their own back pockets i.e. the Dublin Bus pension fund deficit. In an interview with the Irish Times today, Dublin Bus chief executive Ray Coyne said: "Dublin Bus is planning to look at the feasibility of developing its prime property sites for residential and commercial purposes" He then went on to say some very common sense things like: "In the city centre environment, there’s lots of room above the depot and there’s also room below a depot. What we’ve seen in a number of other cities is that you can build above a bus depot and house your buses below ground level. You can then build mixed use residential above." "If you look at Ringsend, there’s high rise apartments around that. So you can decant your buses out of Ringsend, do some retrofitting, build above and put your buses back in. There’s depot assets there, what’s the best use of those for the company and for the city?” This is a prime example of why civil servants shouldn't get free pensions. Once they have skin in the game, they become very intelligent overnight which benefits all of society IMO Link to interview in the Irish Times here: https://www.irishtimes.com/business/transport-and-tourism/dublin-bus-to-examine-developing-its-prime-property-sites-1.4500089
JimmyVik wrote: » Wait til they cost that idea
schmittel wrote: Re obsolescence he's not talking about an acceleration, or Georgian/Victorian, just going with the old chestnut based on long term average of 0.5% houses becoming obsolete every year.
Hubertj wrote: » Has there been a proper study done on actual obsolescence? So instead of x% estimate an actual analysis?
Villa05 wrote: » Is this because of high prices, there is added incentives to restore an old house as opposed to buying a new one. What should the rate be. Do we have a rate for the UK for example
