Softening house market?

It's of absolutely no use to any purchaser because more credit is available to all - it doesn't give anyone an edge. That was the idea with 4.5x exemptions - those would have an edge over the rest of the market.

Giving everyone access to more money only benefits vendors. It doesn't address competition in the market and tbh it's unlikely to increase new build supply (which is really what this measure is seemingly meant to do). It is akin to pouring petrol on the market and is utterly reckless of our CB.

All it will ensure is that those in the 50-70 cohort get fatter inheritances, developers make more profit, the property merry go round with associated hangers on keeps turning and that those seeking a family home and stability carry even more debt.

I fully agree. It won't work and it can't work because it's increasing lending to chase inflation.

The CBs big idea is that because wages aren't keeping pace with building inflation we have to allow borrowers to borrow more so that builders can afford to build houses and sell at a profit. But building construction inflation is showing no signs of slowing and we have a concrete levy coming, so what happens 12 months down the line when builders complain of the same issues again? Will the CB display the same imagination and just allow more money to flood the market?

The point that they draw the line will be the point the bubble bursts.

Unfortunately, this is absolutely the case. You just need to look at home ownership rates for 40s and under in this country. Lots of families looking to buy, and plenty more putting family on hold until they can secure a property.

Anyone know when the 4x comes into effect?

You can, but many people don't like the idea of having children in insecure accommodation. A lot of couples don't live together until they buy, since the cost of co-renting with a partner is absurd.

You may notice that a lot of people tend to buy a house, get married, and have a baby all in a very short amount of time.

Security is the biggest factor by a long shot. Imagine having a baby then suddenly the landlords cousin comes back from Thailand and needs the house.

Maybe ten years ago renting and starting a family would be possible. Absolutely bonkers to try it now.

Different strokes for different folks I suppose, and it depends on where you are and what you're looking for. I recently bought a house.

Our rent was the same as yours, and the mortgage is the same again. It's nice knowing that every month I'll own a few more bricks in the house. Negative equity is only a problem if you need to sell.

Renting is great, lots of flexibility, zero responsibilty. I've rented for the past 10+ years and barely spent a penny on house upkeep. The boiler and underfloor went last year, I doubt our LL made any money from us.

This is precisely it. The state is NOT making decisions to benefit the Irish people, and voting in another set of neoliberals or lefty useful idiots will change that.

Ireland 2022 is a pension fund with a flag,