What Will happen when Generation Rent Retire?

No culture?

Please explain this, because I am bemused as to how you have reached this conclusion.

There is more culture in the dry stone walls of my field in the outskirts of a commuter town than there is in any housing estate in Dublin, this is without mentioning the oldest known inscribed stone in Ireland a few minutes walk away, over my back wall we have 17th century ruins, just beyond that is a standing castle / watch tower, an hour via the M1 has you are at the IFSC in Dublin easily, I've done that many times myself.

You lived in London for 8 or more years, paying into the UK economy, now you feel entitled to tell the rest of us that we owe you a subsidised house in the most expensive area in the country to live, simply because you come from or work there?

Wake up, you get to live where you can afford to live, not where you want to live, there is no entitlement to live in the area you work or come from.

There are areas here that would cost maybe 100k to buy a house, there are others that are 1,000,000 plus, I don't get to live in the more expensive area unless I pay the higher price.

If I want to live in a more expensive area I pay more, if I don't want to pay more I get to live in a less expensive area.

My mother in law has a sensible term for this, "you cut your cloth to suit your means"

Won't happen. Sure they can't even agree to cooperate enough to form a government up there which is in their own interests to do so, let alone this fantasy rose tinted idea of supporting a united Ireland.

But leaving that aside, and the fact that people down here don't want to pay for the idea, and don't want to accept the idea that we too would have to make some compromises rather than a petty "we won" attitude, the reality is that taking on NI would stretch our already limited resources still further - to say nothing of the impact the government's stance on immigration and refugees will and is having on those resources, particularly in the area of housing.

Anyway... I do (sorta) see where the OP is coming from. We have built our entire idea of success on the notion of being massively in debt to buy and sell overpriced property to each other, hence why the rental sector is considered an afterthought and for those who have no better options, and it's run as such with completely inadequate kneejerk legislation being imposed when the "noise" gets too much that only makes the situation worse for both tenants and landlords (unless of course said landlords are massive investment funds so beloved of particularly FG who would privatise and sell off everything if they could).

Unfortunately though not everyone is in a position to buy, can live at home to save a deposit, or borrow/be gifted from the bank of mammy and daddy, or will have a house waiting for them to live in/sell and divide the profits when said parents die. The smug condescending attitude of some here who have "made it" towards those other groups ("if I did it, everyone should be able to") is again another symptom of the society we've built, and completely at odds with the housing situation we now find ourselves in - it's the same sort of people who complain about negative equity and demand exceptions or intervention while renters have to pay whatever their landlord demands regardless of their personal circumstances. It's also bemusing to read some defending bank policies given the events of 10-15 years ago and how they likely benefitted from it or know those who did, with their 100%+ mortgages, cheap credit and limited checks etc.

The truth is that not everyone can/is able to, should, or wants to buy property for a variety of reasons, and they shouldn't be "forced" to in order to ensure security of tenure or certainty in retirement - let's not forget that house ownership isn't cheap, even after the mortgage is paid. You have property tax, maybe management fees if an apartment, significant maintenance costs when something goes wrong and all the other expenses that will still need to be paid, retirement or not. Property ownership is far from the road to easy street in later years. But all that said, it should still be an option that is open to people too.

What we need is not a groundbreaking idea and that is a mixed market of ownership, long and short term rental (and long term being a lot longer than the Irish notion of 1-2 years in the private sector), social housing and buy to rent options in sufficient quantities and geographical spread that everyone's needs and longer term goals can be met.

But that's not going to happen in this country. Not so long as we continue to view property ownership and the ever increasing value of it as the be all and end all and look down at those who can't/don't "get on the ladder". It really is like 2006 all over again but without the "free money" and SSIA scheme to allow people to buy into it this time.

I want a penthouse in Manhattan, but can’t afford it too.

it’s called “cut your cloth to suit your measure”

And if you really want that big house, you work your hole off, you make plans and goals and work on them every day to make progress towards that big house.

Too many people want what they can't afford, blame the state and everyone but themselves for where they are at in life. It's easier blame the government rather than shine the spotlight on yourself and look in the mirror.

Same people rather watch Netflix in the evening, post on boards all week, get drunk on weekends than invest in themselves and their future.

What’s your point?

I asked what do other countries do in this situation.

I included Asia along with the continent of Europe.

Why can’t we do what those other countries do?

Agree with most of above, however there are similar developed countries to our own such as Germany, France Denmark etc that will have come across this problem already.

So what are they doing?

by the time it's a problem Sinn Fein will be in power ands we will be sorted out with houses.

Could be worse. I've to move home shortly as the house I've been renting for almost a decade has been sold and I'll be paying €500 a month for the privilege 🙃

you d be extremely naïve to think sf are gonna wonder in, and sort things out, theres astonishing complexities involved in our property problems, its very likely we ll still be dealing with serious property problems heading into the next decade, i.e. well beyond the next government....

whos gonna be borrowing the money for this?