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

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Comments

  • Registered Users, Registered Users 2 Posts: 7,625 ✭✭✭fliball123


    I think when all costs and incomes are taken into account I think most experts agree that reunification will cost more like 4 Billion odd (a large chunk of change to find annually). But that is a case in point the lads who would consider themselves nationalists and hear Sinn Fein and United Ireland in our lifetime and will vote Sinn Fein in should be told how much extra they will be paying for this from an increase in taxation on their wage.



  • Posts: 14,768 ✭✭✭✭ [Deleted User]


    The costs today would be different to the costs a year ago, and the figures fluctuate depending on who pays for the research. 10 is the midpoint of what I have seen, 15 and 5. But irrespective of which one it is, the affect on SFs policies will be that they will need to be able to show that the Irish State can afford it. That’s a tough ask if you are committing billions each year to housing on top of all the other promises they have/will make.



  • Registered Users, Registered Users 2 Posts: 5,037 ✭✭✭Villa05


    I'm very much aware that there is no magic wand to solve all the problems, however there is something very strange going on when our hotels are filling up with families and our homes are filling up with tourists.

    Ive asked you on a number of occasions to name one government policy that did not have an inflationary effect on house prices/rents, I don't recall any answer

    The current system of the private market catering for possibly the top 20% of income earners, with the rest paying much higher rents than what a equivalent mortgage would build is completely unsustainable and will require a forest of money trees. Anyone that does not accept this has there head in the sand mixed with water and cement and left settle for a few hours

    I'd question whether construction is at capacity, given the threats by the industry to cease projects if more taxpayer funding was not forthcoming plus the anecdotal tales of projects been cancelled/suspended by customers. The industry has the taxpayer over a barrel. Its time to put in place plans to call there bluff and have projects ready to go.

    Could government work with our corporates to see if together they can provide housing for their employees. Many are trying to get there ESG scores up, so their are potential supply side solutions there that benefit all parties

    Can nothing be done to deter deriliction, pedestrians have been killed in our 2nd city from falling debris from a derelict building

    Can we not copy and paste the NI model for compliance which works is accountable and is a fraction of the cost. Why is there so much unnesecary white collar grab in the price of a home largely built by trained competent blue collar workers.

    For government to get any kudos, they must first stop making the situation worse and BEGIN with policies that address supply



  • Registered Users, Registered Users 2 Posts: 5,037 ✭✭✭Villa05


    You emphasise my point of property being a parasite on the economy very well. The free third level education paid for by the taxpayer is swallowed up by the property sector in increased rents. Thanks for making that point more clearly than I ever could. When you paid fees and accomodation costs, that money stayed in Ireland funded our colleges and your rent was taxed and recycled within the economy. Today the rent potentially leaves the country untaxed

    Who would have thought that Canadian teachers pension funds would have been the ultimate beneficiary of free third level fees in Ireland. Well done FFG

    Building homes are not a large scale project. We have a branch of the state, Revenue, that are extremely efficient at collecting monies owed. I would be against the state selling homes, these would be a state asset that benefit multiple citizens and the taxpayer through reduced costs or profit that could be reinvested to build more rather than being a partial gift to a specific citizen

    Post edited by Villa05 on


  • Posts: 14,768 ✭✭✭✭ [Deleted User]


    Jesus wept, you completely missed the point, there is a 35 yr time difference, of course rents have gone up since the late 80s/early 90s, if fees still had be paid and adjusted for inflation, students would be paying just under €6k year. My point was that it cost as much then to send students to third level as we had both college fees and rental fees.

    Post edited by [Deleted User] on


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  • Registered Users, Registered Users 2 Posts: 747 ✭✭✭drogon.


    On the rental market, who are these types of properties/prices aimed at ?

    Will cost someone 180K a year to rent, renting this place for 5 1/2 years will cost you 1 million. Which is probably what it would cost you to buy the place.


    image.png




  • Registered Users, Registered Users 2 Posts: 1,671 ✭✭✭Deub


    Genuine question: why do we depend so much on developers to build houses?

    Can cities/villages not create estates by just designing the plots, bring electricity/sewage/water and sell them to people to build their house?

    People would, of course, need planing permission to make sure they don’t build crazy houses.



  • Moderators, Sports Moderators Posts: 5,270 Mod ✭✭✭✭GoldFour4


    Usually at corporates/high level execs who will be in Dublin for a year or so and don’t want to buy a property.



  • Registered Users, Registered Users 2 Posts: 747 ✭✭✭drogon.


    Interesting, wouldn't have thought there would be many companies willing to fork out that much money for rent. But then again, all of that will be tax deductible for corporations.



  • Registered Users, Registered Users 2 Posts: 54 ✭✭Pomodoro


    1 million for that? No chance. Closer to 3 million.



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  • Registered Users, Registered Users 2 Posts: 1,839 ✭✭✭mcsean2163


    it's incredible how badly the government have handled this situation. According to the Sunday times...

    https://www.thetimes.co.uk/article/garda-vetting-holds-up-homes-for-refugees-bzwmg3p90

    The hold-up with garda vetting has effectively rendered more than 4,000 properties unusable to these families. The Irish Red Cross (IRC) says fewer than 3,000 war-displaced Ukrainians are living in accommodation pledged by the Irish public even though 10,000 homes have been approved for use

    There's an 8 months pregnant woman being sent to city West to sleep on the floor while 4,000 pledged houses cannot be used. What is wrong with this country?



  • Registered Users, Registered Users 2 Posts: 747 ✭✭✭drogon.


    Maybe a bit like the Republicans in Texas have been doing, send some of these people to the politicians homes (those that made the call to have unlimited people come in without proper accommodation in place)



  • Registered Users, Registered Users 2 Posts: 7,625 ✭✭✭fliball123


    Heard a report that Irish water is telling the builders who are currently building near ringsend at the old bottle factory that they will not have a proper pump in place for water supply for 6 years :) Ireland only we could create a company like this that takes 6 years for a pump incredible.



  • Posts: 14,768 ✭✭✭✭ [Deleted User]


    So SF/Eoin O’Broin wants the Government to reintroduce a ban on evictions, on top of SF’s stance that if elected, they would remove owner sale as a legal reason for ending a tenancy.

    Surely someone explained to this jackass that when he says things like that, more owners get spooked and decide that there will never be a better time to exit the rental market.

    And these are the clowns people expect to sort the housing crisis.



  • Registered Users, Registered Users 2 Posts: 5,037 ✭✭✭Villa05


    It's a bit of a shambles. Policy after policy stoking demand and the government and their agencies unable to provide basic services to enable supply.




  • Registered Users, Registered Users 2 Posts: 5,713 ✭✭✭enricoh


    The missus had a place before we met n has it rented out. She has it rented cheap n never hears from them as a result. I'm sick of saying to her to flog it before anymore anti landlord crap comes in.



  • Registered Users, Registered Users 2 Posts: 5,037 ✭✭✭Villa05


    We had a similar scenario in the noughties in a house share. Landlord with multiple properties was happy to charge rent that met mortgage plus costs until he started going out with an estate agent.

    Mass exodus when she took the pance, pardon my language.

    Alot to be said about deals that suit all parties



  • Posts: 5,121 ✭✭✭ [Deleted User]


    And to compound this, the angst generated by the water mains works on north strand, starting today, shows how hard and disruptive it’ll be to get meaningful water main and electricity cabling work done across the city.



  • Registered Users, Registered Users 2 Posts: 5,037 ✭✭✭Villa05


    And from Reading that article the beneficiaries of said works will be paying diddly squat in taxes. Outright robbery



  • Registered Users, Registered Users 2 Posts: 5,037 ✭✭✭Villa05


    Construction was heavily concentrated in the commercial sector over the 10's. This appears to be well supplied for now much of that labour is freed up for resedintial

    In the 70's the UK took in many Irish and gave them jobs. I note that housing output in the UK is falling heavily. Surely there is scope their to increase our construction labour. It would be much more convenient for them to come to Ireland than any other EU country.

    I have many uncles/aunts in the UK. There children and grand children are beginning to examine the prospect of reversing the journey of their fathers/mothers. Some had already purchased homes in the crash here.

    There are glaring solutions to most of the issues presented here, it's the willingness of those in charge to grasp those solutions that is the problem



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  • Administrators Posts: 56,221 Admin ✭✭✭✭✭awec


    Can you please cite your source for "Construction was heavily concentrated in the commercial sector over the 10s"?



  • Registered Users, Registered Users 2, Paid Member Posts: 21,927 ✭✭✭✭Bass Reeves


    There was virtually no houses build from 2008 to 2014. Commercial construction started faster than house building which did not really start in Dublin until 2016. At that stage commercial was starting to bomb along

    Slava Ukrainii



  • Posts: 5,121 ✭✭✭ [Deleted User]


    Seems Catriona Carey hasn’t paid her own mortgage in 10 years. And is only now under threat of repossession. How the hell can someone not pay for 10 years without being evicted. It shows everything that’s wrong with our housing market. And makes me wonder why the hell I should bother paying my mortgage. Raging that people get away with this



  • Registered Users, Registered Users 2 Posts: 8,235 ✭✭✭Pussyhands


    Here come the big tax breaks for landlords. Which will drive investors into the market to bid up property prices again.

    Post edited by The_Conductor on


  • Moderators, Category Moderators, Computer Games Moderators, Society & Culture Moderators Posts: 8,807 CMod ✭✭✭✭Sierra Oscar


    What is being proposed?

    Post edited by The_Conductor on


  • Registered Users, Registered Users 2, Paid Member Posts: 21,927 ✭✭✭✭Bass Reeves


    Government have no other choice. 60-100 k houses that are vacant are owners are unwilling to rent. LL issuing notice to vacate and selling rental properties at an astronomical rate. 3.5-4k units leaving the rental sector each year for the last five years and the rate of exit rising.

    750 rental properties on daft nationwide at present. What's your solution

    Post edited by The_Conductor on

    Slava Ukrainii



  • Registered Users, Registered Users 2 Posts: 396 ✭✭SummerK


    Build more houses that people can afford to buy.



  • Registered Users, Registered Users 2 Posts: 7,777 ✭✭✭timmyntc


    What about the people that cannot afford to buy?

    What about people who dont want to buy?

    What about students? People on placements around the country?


    There are so many people for whom renting is a choice believe it or not, not everyone is in a situation to buy a house and put down roots. The rental market is incredibly important for any country including this.



  • Registered Users, Registered Users 2, Paid Member Posts: 21,927 ✭✭✭✭Bass Reeves


    The government can only put policy in place. The market decides the rest. There is a huge demand for housing. The occupancy rate in owner occupied compared to rental is lower. LL and units leaving the sector are now a serious issue. We even have the crazy situation now where people can it get back there principal private residence after coming back to Ireland.

    Dublin is a sh!tshow the rest of the country is fairly ok there is still options there if people choose. Nephew and his partner bought a house in the last few days. She has returned to college so her income was very low. The house was 250k the repayments ate 900/ month over 30 years. He has a trade and his income is 50-60k. They had some savings and there parents gifted them a little bit to get the deal over the line.

    Post edited by Bass Reeves on

    Slava Ukrainii



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  • Registered Users, Registered Users 2 Posts: 1,139 ✭✭✭Jonnyc135


    That's quite manageable and a sustainable mortgage. I know some people uo around dublin paying over 1800 a month for mortgage for 30 years, very little wiggle room not to mention the stress when kids,school, child minding and college come down the line.

    I am in the process of moving out of Dublin now as its a shitshow, not just the rent but the gouging for everything too.



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