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

Either you start taxing the irish middle class properly or cut entitlements, both sound fair to me after 5y in this country. Top tax rate is already one of the highest in Europe, and will have negative 2nd order effects if increased further.

It seems to have the same asking price it had in 2018 and no. 3 had a similar asking price two years ago it looks like

If one could push the budget an extra 15% I think this place in Dublin 4 as well is absolutely stunning (much larger floor space but one less bedroom), a fantastic building with beautiful flooring and nice high ceilings;

nice house, but youd be concerned about the cold (Maybe work has been done) and its also on leeson street so not a quiet location.

Considering their kids (if they can afford to have any) will be living with them into their 30's and they will both be working full time until they are 70 I think they need all the bathrooms and showers they can get for everyone getting up and going to work in the morning!

Similar storey in Aus in the 2 largest cities of Melbourne & Sydney are experiencing a pull-back in prices, but not surprising given they had a crazy 20% growth last year. But its not a uniform market in that all of the major citys have had strong growth but not at those levels.

Reserve Bank of Australia released a report yday warning of price drops of up to 15% if rates rise by 2% in their local market. Most at risk are those who are highly leveraged (up to 6-7x LTI) and those whom purchased recently. It noted however a lot of mortgage holders are ahead of repayments thanks to forced savings over last couple of years.

I might be wrong but I think there is no LTI limits and crazy LTV in Netherlands so an increase in rates will directly effect the amount being borrowed and owners are very exposed as have borrowed heavily unlike in Ireland where borrowing has been restrained by LTI and LTV limits

How long will the average person spend in a shower/ bathroom every day twenty minutes. Any person can shower and dry themselves in 10-12 minutes and go to there own room then to put on there clothes. We have a former house. There is a bathroom upstairs with a Shower that is separate to the bath. There is two bedrooms downstairs. There was a small bathroom between them ( about 1.8mX2.4m) we changed that to a proper shower room that is fairly mobility proofed.

The fad of large living area may actually change as WFH evolves. Most bedrooms are probably limited in size to hold a desk. It's seldom that everybody in a house go to work and school together.

En suited take up more space than you think. There is also the studded walls. Small ensuite's are probably useless longterm where a person has mobility issues. In general they tend 900 mm or less wide and 2.4ish M long. These are too small for functional wet rooms.

A hallway can be very functional. It can actually serve as a at room for children. Our former had an L shaped one. The lads when younger spend as much time there with toys as in the kitchen dining room or sitting room.

In Germany the prsi equivalent works following:

employee and employer each pay about 17% of gross salary into it, the cap is at 150k income.

ie someone on 35k would pay almost 6k prsi.(and employer a similar amount)

here in ireland everyone wants a generous welfare state and not pay for it.

cutting entitlements:

-if you can’t afford to heat your house or refurbish it, sell it and buy an apartment instead of asking for endless handouts

-shared living for those on welfare (cuts costs etc and frees up space for homeless)

"as for shared living for the generational dolers who celebrate 40 years on the dole as an achievement and never send in cvs .. we would have to increase our army and police force to deal with all the problems! .."

Thats why that situation should never have been let develop imo......it was always going to be a recipe for disaster imo

Lowest wage earners dispose most of their income. Making them pay additional tax would simply take money out of the economy, particularly retail. Maybe start looking at the preferential tax treatment of institutional landlords in this country instead.

Unfortunately, this is not a uniquely Irish problem. Just look at what goes on over in the States of across the pond, and one can see that infantilisation of the adult population is universal to the West.

Personally, I would be in favour of tax cuts across the board with corresponding reductions in the size of the state to go along with it. Giving the state more tax will only perpetuate the problems that currently exist. The state is a bloated monstrosity of waste. It's well past time for a crash diet.

I think that the world is heading east. Europe is too far along the welfare gravy train to jump off without serious damage. I think we missed the golden opportunity to get the ship in order during the financial crisis of '08, but we merely doubled down and kicked the can up the road. I don't feel optimistic about the next few decades at all.

Why 55k?

In a country where tax receipts are at record levels, suddenly low income workers are the problem. Those who kept the country ticking over while the wealthy were printing money to drive up asset prices.

Maybe we have too many people on high incomes with limited intelligence.