JimmyVik wrote: » From my own experience, I dont know any couple both working who have an income lower than €80k. Now if only one is working then I know a few, especially since the pandemic started.
fliball123 wrote: » I have put up the math why I think that housing is affordable on the current median wage a couple buying and that there is currently over half the supply available (on myhome) for under the amount I calculated currently. We have a chronic supply issue at the moment which is not the same as an affordability issue. Why is your contention that everyone should be able to buy a mansion over looking the sea there in Howth thats just not possible, people like yourself need to understand that if they want to live in a highly desirable place with A1 energy ratings and without the need to pump money into the property there is a premium that will need to be paid as is the case everywhere in the world. This is what you and others like you dont seem to comprehend when it comes to property.
Villa05 wrote: » I think your couple in your sample had a combined income of 80k. Can you tell me what proportion of households have an income of 80k or higher. If the remainder have to be housed and many subsidised by Mr and Mrs average. It is in the interests of the entire population to have sufficient supply in various price points where possible using different housing models that have achieved it elsewhere. If supply is suppressed and housing is provided predominantly by the private market, as night follows day a supply issue leads to an affordability issue That is not my contention and I do not understand why you are associating that ideology with me. seen as I have strongly opposed the state paying silly money for housing units in upmarket areas. You on the other hand seemed passive on the topic, There are alternatives such as co operative housing at a reasonable distance to work Ref A1 rated homes, makes sense to do it when building. The cost could be spread out over a number of years by a tax that matches the savings of having an A1 rated house or better. Simple solution, net zero cost
fliball123 wrote: I have put up the math why I think that housing is affordable on the current median wage a couple buying and that there is currently over half the supply available (on myhome) for under the amount I calculated currently. We have a chronic supply issue at the moment which is not the same as an affordability issue.
fliball123 wrote: Why is your contention that everyone should be able to buy a mansion over looking the sea there in Howth thats just not possible, people like yourself need to understand that if they want to live in a highly desirable place with A1 energy ratings and without the need to pump money into the property there is a premium that will need to be paid as is the case everywhere in the world. This is what you and others like you dont seem to comprehend when it comes to property. Whats the old crack about whats the top 3 words people think about when it comes to property ?? Location location location.
fliball123 wrote: » Yeah I think the market is a little flawed in some respects .. If you pump say a 100k into a gaff and have it done up to the nines and you and your next door neighbour are putting up at the same time and they have done nothing to the house the premium you get for your add-ons is p1ss poor
schmittel wrote: » If people are predicting a rise in right wing politics, I wonder what would a right wing housing policy look like? Totally free market. No rent caps. No eviction bans. No HTB. Repos return. Sounds kind of tempting to be honest!
fliball123 wrote: » Answer the question where is this supposed stream of new properties coming in?? attack the post not the poster
decreds wrote: » Maybe by then you'll have wiped the sand out of your eyes.
2lazytogetup wrote: » im a buyer myself but im afraid and expect property prices to go up about 20% over the next 2 years. The reason - the economy is going to go off like a rocket. unemployment will go to about 5%. inflation will go up a bit and drive up prices a bit. But all the built up savings. im dying to buy asap. i have to balance buying now with little choice or wait till end of year when there are more properties but will be paying alot more.
awec wrote: » This is almost certainly completely false. Bids are mad now because there is still a very large chunk of buyers for a very small number of available properties.
decreds wrote: » They'd have my vote.
fliball123 wrote: » Where are you seeing supply coming on stream? Have you factored in the demand for people who have not been able to view property for more or less the last 6 odd months....Good luck with your predictions maybe the likes of yourself schmittel, props and a few others should copy your predictions so you can make them again at the start of 2022
PropQueries wrote: » That’s probably because you’re bidding against the state. Each time you add €10k to your bid, the estate agent brings your new bid to the council and they obviously match it and add €5k. Then the estate agent goes back to you and you then raise your bid again (little realising you’re bidding against the state and have little chance of ever winning) and it keeps going until you eventually pull out and the state gets the house you were bidding on for your last bid plus €5k.
Mic 1972 wrote: » Prices have already gone up a lot in the last 2-3 months as experienced by anyone who has been bidding lately. It will be interesting to see the actual % increase over 12 months. I would say an 8-10% increase YOY is not unlikely.
Villa05 wrote: » It seems odd that you understand so much that is completely dysfunctional about the property market and yet continually claim that housing is affordable All the above Drive prices well above the equilibrium and by definition make the market unaffordable to the majority of new entrants, FTB, renters etc. These are the people that have to pay for the policies that drive up prices locking them out of home ownership and captured by rent takers ensuring their hosing costs are much greater Most of the lefties are focused on costs of housing and supply side measures, The current measures are very much owned by the parties of government despite advise to the contrary by independent experts
JimmyVik wrote: » Have to disagree. When I was searching for a house I was specifically looking for a fixer upper. There were far more renovated ones available at all times.
Cyrus wrote: » im not sure thats the case, pre covid that houses that were selling quickly and for decent money were the renovated ones, and it was the nothing done for 25 years houses that were languishing.
fliball123 wrote: So your left with renters/landlord system. This system has been shifting over the last 5/6 years to REITS and vulture funds and away from the small landlord. So the vultures/REITS are the predominant force in the market today, so much so they can leave property vacant in order to keep the rents higher. Now if our cohort of renters cant afford them then the lefties who have been shouting loudest with crap like "free homes for everyone" and "housing is a right" will force the current government or the government at the time to pick up the cheque to house these people. This is already currently happening as can be seen by the subsidies which include HAP, Help to buy, FTB grant.
2lazytogetup wrote: » is it just me or has anyone else noticed a total lack of supply of houses for sale on the market. Do we expect a massive number of res property to hit the market later this year when restrictions have eased.
PommieBast wrote: » Looking at the quality of the housing stock, prices should be 20% lower than what they are. Not how things work in Dublin though..
awec wrote: » I think the worst case outcome for someone in your situation is price stagnation with a reduced quality of supply. i.e. you may not find any decent houses in the area you want to live in.
awec wrote: » I would think this is very unlikely. I think the worst case outcome for someone in your situation is price stagnation with a reduced quality of supply. i.e. you may not find any decent houses in the area you want to live in.
