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

I can't think of one measure implemented by government that has not increased the price of housing in the last decade.

If we have an affordability issue and the state has plenty of land, access to low cost finance and all their policies are on the demand side with not a single supply side measure, one cannot seriously stand over a comment like

"of course they want to solve it"

The first step to solving it is to stop making it worse. We haven't reached that step yet

Im so glad to find someone who agrees with me.

Too many people here think the govenrment somehow are happy to have a housing crisis and that the ministers arent at least trying.

I believe they are, but I also believe that in an effort to be "seen" to be trying, they have, and are continuing to make it far worse than it ever should have been.

This precedent started with Dublin pyrite in the 00s - current MICA/pyrite stuff is just looking for parity with original dublin pyrite redress scheme.

Really the government should step in to sort out other issues too - its their poor(non-existent) regulatory system for construction that has led us to these messes. Maybe if they were on the hook for it all they would get the finger out and sort the reg environment so that this never happens again.

....lack of government regulation is a fundamental part of 'lassie faire'!

id class your statement as a perfect example of lassie faire

2008 to 2012 was caused by Runaway house prices.

House prices rising and falling by 12% are equally bad for the economy

We threw our childrens futures + the kitchen sink at the problem of falling prices, there appears to be nothing the state can do to address supply.

Paying half a million for 1 2 and 3 bed units for social housing does nothing to solve the issue, rather takes it to new levels of dysfunction

What goes up must come....

I agree with this in terms of the explanation as to why we have a housing crisis, that it is actually due to the economy performing so well and jobs being created with strong immigration to fill those jobs.

But I just think that by not looking to bed down this prosperity and build a sustainable housing market for these people, let alone the further immigrants that arrive to Ireland, we have looked the gift horse in the mouth.

Quite simply, past performance is almost certainly not a guide to future performance. There are 350 ads for rentals in Dublin city today, when I strip out places under €500 and over €4000pm so, when we see Tik Tok or Workday or whoever announcing plans to create more jobs here, I just know that these announcements won't materialise. It is to live on a wing and a prayer to think that our dearth of rentals will somehow not end up being a hindrance to these jobs being created; it is just not going to happen unless something dramatic happens with our supply and very quickly.

You've to laugh both articles have pictures of people with Primark bags.

business and employee supports should have never been removed!

The bean counters have told the government that the Klondike of corporation tax could dry up easily n not to rely on it .

The government nodded n promptly binned the reports! Can't beat the photoshoots cutting the ribbon on social housing ( even if is at eye watering rents on a 25 year lease!) Sure the shinners will be in next n they can sort it out when it goes bang!

To provide balance, so anyone reading this won’t be accusing regular posters of just being a bunch of negative windbags, but there are some positive property related areas.

The LDA is joining the 2 (yes only 2) largest of Ireland’s property developers. Every week now we are hearing of a very large and significant planning permission here and there. They are building up quite a portfolio.

We need more Cairns and Glenveaghs though as the other developers seem constrained by size and their ability to attract finance from traditional lenders, i.e. our banks and not foreign based investment vehicles.

Any other positives, out there?

Most developers have to pre-sell a number of units to finalise the finance for the development unless they have the cash in the bank, banks not interested in repeating that particular speculative development mistake of the past but its pushed developers into the wide open arms of social housing bodies and vulture funds prepared to buy up a whole phase from the plans.

Materials inflation being a whole new issue now though that time will tell its full effects, at least in the past developers could be pretty certain when they pre-sold a house how much it was going to cost to build, lack of price certainty now is an issue for all sides considering how contract heavy buying a house is and how inflexible budgets can be, I doubt many social housing bodies can easily find an extra 15 or 20% now to pay for those 100 houses they signed up to buy a year ago, that could be a three million euro dilly of a pickle.

Are the decision makers, all homeowners and probably landlords too.. yes... I just cant see any vested interest there at all. Can you ?

Huge amounts of land in and around Dublin. Government can borrow for nothing.