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

Never going to happen though is it. You would think people would realize that by now. How long have they been sayiong the same thing. 10 years? More? Start fresh and build a new city. Put as many apartments as you like and as tall as you like in it.

The problem with those kinds of figure is that it really depends on the price of property.

For example detached houses are far more sought after than semis or terraced or apartments, so will attract more buyers. Then you have the different price brackets too. Some will attract a lot more competition than others.

I believe its very hard to pin down the property market with one all encompassing figure.

This is a 2 bed apartment and the council are bidding slightly less than 300k at the minute. EA reckons they will go well over that. He said he is selling a 1 bed apartment in Swords and the council at the moment have bid over €250k on an asking of under 200 and he thinks they will go higher on that too.

He didnt say exactly but during the conversation i got the impression the council are buying everything they can, including houses.

I have always been totally against the council outbidding people to buy property too. But in this case, as its my pocket that is the beneficiary, I will make one exception. I will go back to hating them for it after my property is sold, whether they buy it or not.

But as im only finding out now myself, its the only way to truly find out what the market at any given time will pay for your house.

Bought my house from the council a few years ago, I'm selling it shortly and they already said they want to activate the buy back clause at the highest offer. I find the thing such a waste of taxpayers money, selling me a discounted house and buying it back a few years later at market value, although I have my suspicions they want to vacate the entire development and redevelop or sell it off.

Sounds very odd for a council to actively communicate in advance they will match the highest offer for a buyback. If they did, what’s to stop you engineering a few bids to whatever price is somewhat reasonable

Talking to a lad in the house building game, he said lenders to small builders doing an estate or two are now charging 12% + interest on loans. Can't see too many builders ramping up supply at that rate.

That may be gone up alot, I think it was close enough to that before rates started going uo

One would imagine if the government were serious about housing, this would be the first and easiest place to start.

Wasn't there a fund for low interest loans set up for small builders, but it turned out investment funds were drawing it down.

I suppose small builders can't afford lobbyists and political donations

The one good thing about Covid is that it forced immigrants like myself to take a long hard look about future life in Dublin, and the only conclusion was to get out. Here in London things are also crazy, but at least it is a functioning market.

People want even more left wing nonsense (SF).

so people just getting delivered what they ordered. Zero sympathies for young people.

And i hope there will be another 100k refugees this year on top. The sooner welfare western europe collapses, the better.

It didn't result in any investigation, or even any accountability, when they did it the last time either. I wouldn't expect it this time around.

Any big government spending is left wing. The council tenant getting the gaff basically for free is also benefiting.

big government is just cancer.

ending the gold convertibility enabled that nonsense

The government shouldn't be subsidizing inefficient private enterprises though.

If a bank are charging 12% interest, they are doing it for a reason. There is likely a massively increased risk profile for these fellas. If you are in a business that is doing well for a few years and you haven't enough in the pot for a rougher period, or even an appropriate line of credit, then that is simply bad running of the business and perhaps those lads would be better off as employees of a larger business which is run correctly. Not everyone has to be the boss.

I see no problem if it’s a competitive bidding and the result benefits whole of society (national defense).

social housing does not. It's benefitting the bottom 10% and massively crowding out the next 10-60% percentile.

but these people want to be even more crowded out, hence getting outbid, no private homes for sale as council buys everything etc.

absolutely zero sympathies with 20/30 somethings left wing losers living at home despite ok salary and job.