you should just "GET OVER" ever owning a home says PP boss

With a mortgage, you own an asset . This represents significant risk early on for you, but hopefully appreciates with inflation, while your costs don't. You also pay 2 or 3% a year at present (should be lower!). You have the option to pay off your principal while you earn, helping to prepare financially for retirement. No CGT either... it's not a bad investment option, let alone the security it brings as a family home. Plus, you'll be in the same boat as the people making policy decisions - always a good place to be.

Compare that with renting. It is lower risk up front, but you're paying much higher rates (rental yields are currently 5% or 6%) for life on an asset that will likely increase with inflation. You have limited security, and no clear option for retirement.

It would take a big enough swing in interest rates, rental yields/property prices and government policy (improved security and financing help for retirement) to make sense to rent for life.

“The creatures outside looked from pig to man, and from man to pig, and from pig to man again; but already it was impossible to say which was which. (George Orwell animal farm)

There's a limited amount of good quality rental units, the problem is many young people may never have a choice, house prices go up every year, they may never have the chance to save up for a deposit and apply for a mortgage. There's was always a deal go to school get educated get a job buy a home if this promise changes many young people will never have children living in rental units is not ideal if the rent goes up every few years some country's have rent control and a well funded social housing system

We are in a housing crisis with not enough new housing units being built if the government does not tackle this young people will punish them by voting for sinn fein or a party that has a good house building plan

The government has created an artificial scarcity of houses by making it hard to get planning permission and insisting the houses are built in a very expensive way.

It's all a load of sh1t. They want people to work for 30 years to pay for a brick box so the banks have a steady income. There is no technical reason there can't be an abundance of comfortable houses in Ireland for less than 100k

Took the words right out of my mouth. As soon as you read the words Ireland inc you know exactly what we’re dealing with here. Fecking plebs, imagine the cheek of them, wanting the security of their own home !!

It's gas how heaven and earth can be moved for issues that affect a microscopic number of people here because the issues are 'trendy', but a basic thing like having a roof over your head? Naw, a bit of ineffectual nipping around the edges so it looks like we are doing something.

There has to be a point in whether the rents are going to become vastly unaffordable now to the verge of breaking point for most people at this stage. There is no way that this sort of stuff should be allowed to continue even if rent pressure zones are not making that much of a positive difference within the rental sector.

You're seeing a 10% percent increase in rent outside of the RPZ's at the moment. When you see those figures being recorded because of inflation. That is something clearly very wrong & must be addressed urgently. When you see these figures being passed onto tenants in this day & age; you would probably recognize that evolving situation on inflation is contributing very badly to a fundamentally flawed & broken system that has to be tackled right from the top down.

Even when Louise Phelan had said to her former PayPal employees that they should get over themselves when they are paying high rents all the time while they try to stay & work here. She is an individual that should learn that saying comments in that sort of manner to them should have unintended consequences in mind. She really has no idea how normal people unlike herself cannot tolerate to ever live in that elitest bubble of hers while they have priorities that are clearly more important to them at this point.

Even the housing minister has said on public record to the Sunday World today that rents for housing are still way too high within RPZ's even though they cover 76% of the country. The remaining 24% of areas that are not covered in these zones could have the 2% cap on rent increases per year introduced on a nationwide basis very soon to try and keep the private rents from going out of control.

As this would be a good thing to try & tackle the high rents in those areas of the country. How much good do you think it would be for tenants who live in them?

A term business knob ends use.

the more we play this train wreck of a property market, the more both landlords and tenants will be exposed!

financialisation of the whole process has completely failed, it has caused the price of property to sky rocket

Fair play. Glad it worked out. So often when someone claims they built a house they merely sat on a three legged stool watching some other fellas do all the work

That's fine and we'll, but public has to be paid for ultimately. If its to become increasingly prohibitive for the private individual to build a house, it is worse for the state.

The state can't build houses efficiently. The state can't manage most projects efficiently so I doubt something as large as a state run housing for all project will be any solution to the increasing costs

oh ffs, this bullsh1t!

yes, public debt will have to be serviced by the public, which includes private sector entities such as private sector businesses, including corporations!

private sector creditors, i.e. banks, must create profits from their credit creation methods, the state does not, it just needs to make sure the debts are serviced and serviceable in their entirety, i.e. no profits, just pay the damn debt! oh and the state has the ability to roll these debts over continuously, until fully serviced, sometimes this can be in excess of many decades, the same is not always true for private sector debts!

the state builds houses just fine, many public houses are of high standard, but the state alone cannot build all thats required, and will require the private sector to do so!

Bullshi1t to you, but reality to most.

You're talking about state loans. Great. I've no problem, great idea. But that doesn't address the cost of building the house.

You're trying to blame bank interest.

You say the state can build houses just fine. Sure they can, but not at the same cost the private sector can. The state have not done such a cost effective number in the national children's hospital what makes you think they can do it with a housing scheme on the scale required

If the state provide zero interest loans, they still have to be paid back, but 300 or 400k for someone on minimum wage isn't affordable

the state may have a larger bargaining power than single entity developers, the state maybe able to negotiate for lower prices on materials than these developers, but again, it will need these developers to actually do the building

the state also has the ability to borrow limited amounts from itself, but these financial institutions would need to be created in order to do so....

rates is only one method of how private sector creditors profiteer, providing as much credit as possible to markets is their main method of gaining, we must remove some of this power from these sectors, and the only way to do that, is to become more reliant on public methods of funding.

the nch is being conducted by private sector contractors! you d be naïve to think no one knew that it was originally under priced, but in order to undertake whats now required, the whole process will need to be as transparent as possible, before building commences, and strong conditions are gonna also have to be included such as 'no excess profits'! that wont be an easy one to get over the line!

again, we ve no choice but to do this now, yes its very risky for the state, but thats where we re at, its become too dangerous now not to, its now having serious negative effects both economically and socially, again state loans can be rolled over indefinitely, until fully serviced!