Irish Property Market chat II - *read mod note post #1 before posting*

https://www.businesspost.ie/construction/construction-firms-threaten-to-down-tools-on-roads-and-housing-schemes-3abb4eee

The CIF, via its mouthpiece Tom Parlon, now out with the begging bowl. Predictable.

The very same paper, last April, on how the construction industries have been making hay and getting back to the good old days. The Celtic Tiger years for those of you too young to remember.

https://www.businesspost.ie/houses/developers-reap-healthy-profits-while-claiming-housebuilding-is-not-lucrative-7c20c0e3

Oh but it’s different circumstances now, they’ll cry. The whole point of fixed price contracts was to move the pricing risk to the developer contractor. They factor those risks into their pricing.

Of course if the State had not just spent decades just farming out contracts to the various arms of the private sector? Maybe there will have to be a State managed control of growing its infrasturure but free marketeers will pour scorn on that and make loud noises about communism etc.

We should have advocated that back in 2016 but instead introduced Rebuilding Ireland which was just a calling card for the financial property industry to come and mug us. It took 5 years until that estate of houses in Maynooth was being sold off to a fund, for the general population to twig what was going on.

Step forward our policy makers. Not just the faces we see, the politicians, but those behind them pulling the strings. The upper echelons of the public sector. Probably reading all this on this very sunny spring Sunday morning from their dachas, sorry, holiday homes, in West Cork, or Dunmore East.

not sure about tax increases wont go down very well with voters on top of rampant inflation.. FG already touting 30% tax rate in next budget to ease pressure on middle earners

not sure how HAP can increase either where is that slush fund for landlords going to come from......

These Scandinavian countries that are always mentioned by lefties have:

no/small inheritance tax, no property taxes, small/no capital gains taxes.

yes they have high prsi equivalent (up to 40% of gross pay from employee and employer), but it’s usually capped around 150k Eur equivalent and pension& unemployment payouts are contribution based. It’s far more “regressive” in a way that the Irish sh*t where you pay a lot and get no more pension than a lifetime doler.

yea hat nonsense about inflation:

inflation is far more associated with LBj, Jimmy carter, Argentina, 1970’s labour britain than West Germany, Switzerland, japan and singapore (ie far more right wing economics).

All those deposits and cash piles ensuring buoyancy in the market and levels of price growth not seen since the 00s. It's a booming market for sure and I'm sure that the consensus is that this is an optimal state of affairs to have such a lucrative market. The doomsayers are always going to be negative but the price growth clearly shows that the market is strong.

Wouldnt be FGs first lie about tax rates on middle Ireland.

Leo's face in the thumbnail says it all, but I'm confused by the "attempts to woo millennial voters" analysis. FG are definitely not a party of the young, they are a party of the old and the corporates. It's good enough for them though, they've been in power since 2011 and have guided us into this housing crisis with their actions. A vote for FG is to vote for the housing crisis, notwithstanding that we have useless politicians across the board.

fantastic to hear house prices are exploding once again will really help multi nationals when deciding whether to expand or base themselves here ..

anecdotally there seems to be a lot of the same houses up for months on daft .. perhaps they are not being sold at the already ridiculous prices or else havent been removed from advert display...

I shudder to see the updated 2022 SCSI apartment building costs with increases like this

It seems odd that 6000 vacant homes can be found in 2 weeks down the back of a couch during a housing crisis

It says alot of our systems that this was allowed to occur. Credit to the people that volunteered them though

1 mother with 2+ children in each home would house 20k

Red cross say 10k but in instances where you have 1 mother and 1 child, could you not put 2 sets in 1 House. This is an emergency situation after all. Better to have a child in a house than a hotel room and benefits of scale with 1 mother supporting the other and vice versa

Agree with this - anecdotally my observation is that it seems where as Agents would normally update the status from 'Available' to 'Sale Agreed' on Daft.ie , they are now leaving unchanged until contracts are exchanged. This only serves to frustrate buyers in the market place.

Another big BTR development on the way, this time for the former Glass Bottle site