"average Dublin house prices should fall to ‘the €300,000 mark" according to Many Lou McD.

Looks like waffle to me.

And there's zero there incentivising construction either.

More apprenticeships are offered now for it, engineering, accounting, public sector etc than construction, so your reference to a general apprentice policy amounts to nought.

A question what was the amount of decline you are talking about? The size of the decline will obviously impact a person's view.

The current average house price in Dublin is about 430k to get it down to 300k. That's a 30% drop which is huge. If you want to get the average house price in Dublin down to 300k practically everyone who bought over the last feed year's and probably even further is going to forced into negative equity. That's a massive problem for 2 reasons

1. For better or worse it's very hard for banks to repossess houses meaning a sharp decline in asset values means it will hard for mortgage holders to sell their way out of trouble. This will lead to the banks or the Central bank to tighten lending criteria making it harder for people to get a mortgage in the first place. Or more loans being sold off by banks to keep them solvent.

2. Having a large number of people in negative equity is not exactly a way to keep voters happy as anyone who was around at the end of the 2000s knows.

And look grand you say all above is rubbish you still have about a third of people who are opposed to their property values dropping at all. A lot of NIMBY campaigns have been built on far less people. You need to combine that with the fact that due the nature of the Irish voting system annoying a sizeable and very vocal part of your voter base will cost you 2nd/3rd preferences etc, transfers that are critical to politicians being elected. There are enough problems with NIMBYs as it is without giving them more ammunition.

It's one thing a government selling houses for 300k/social housing and it's another thing completely a government causing a house price crash which what we are talking about is you want the average house price in Dublin to drop to 300k.

I don't want to sound too harsh here, but... do you have reading difficulties? You've posted twice now apparently unable to read a fairly simple, short, article that answers the questions you're asking.

The polls in question are literally, and clearly labeled, about the goal of reducing average Dublin house prices to €300k. Which 69% of Irish people are in favour of, including 63% of people even if it includes their own home value depreciating. Thats a substantial majority of the voters in our democracy.

Is Messi better than Ronaldo?

No

Is Messi better than Ronaldo?

No, I couldn't say he is or not. I'm not really into football.

That's a world of difference.

So prices should never come down to protect the tiny minority of people who bought a vastly overpriced home between mid 2021 to the present.

What a ludicrous notion.

Houses have only been ludicrously overpriced from about 2005 to 2009 and 2021 to the present.

That is a very different thing than forming a govt, when you dont have a majority support.

FFG can easily lock SF out of govt again.

This assumes that the asset will appreciate over the course of the Mortgage to offset the loss on a rent of under the Mortgage payment.

You are suggesting that a landlord should let someone live in a property for less than the Monthly cost of repayments gambling on a future return that may not materialise, that would not be a sound investment at all.

We are 20 years in our house paying our mortgage, in that time prices went up, then way down to a little over a third of the purchase price and now back up to the purchase price or thereabouts, if there is another crash it'll be way down again, so if I was renting below cost to someone, paying over 50% in tax on the rental income I wouldn't be in a great spot at all, I'm not a landlord, but if I were I also would not be a charity either.

Were people that upset about house prices falling in those years?

Or was it the unemployment and emigration?

At the time I remember thinking it was a bit of a silver lining that house prices were falling, gave a bit of hope of being able to afford one some day.

Well until you poll a few thousand adults in Ireland, and get a different result, its the best evidence of support levels for this policy that we have. Your own personal opinion isn't worth much as actual research.

Have a look at Geuze's charts in this very thread. House prices in Ireland have consistently risen over the long term continually since the formation of the state. The price of an average Irish house was £6,700 in 1970, to €370,000 in 2023. Its impossible to not have achieved massive capital appreciation over a 25 or 30 year mortgage time frame unless you somehow destroyed your house or are some other extreme statistical outlier case.

I'm not suggesting anything, I'm pointing out the financial realities of being a landlord in Ireland in the year 2024. Which is that its not required to have your rental income cover your mortgage to make a large, long term, financial profit. Anyone telling you otherwise is either lying, or very bad at maths.

Anyone not planning on selling a house soon (ie, most home owners) aren't practically effected by a drop in house prices. What exact change in circumstances would a 20% home valuation drop have on the average home owner, who either owns their home mortgage free or has very little mortgage left?

But plenty of said home owners are today being massively negatively effected day to day by the current high house prices - hundreds of thousands of people in their 20s and 30s living in their parents houses, local businesses unable to get workers, large MNCs unable to convince foreign staff to move to Ireland etc.

The "I don't like the [widely respected organisation] poll results, I know better" response by posters in this thread is pretty hilarious. Anything to desperately avoid accepting you're out of touch with the majority of the population, and that most people in the country do infact want a sharp drop in housing prices.

Not if supply increases or demand drops.

So they don't have to go hand it hand, according to basic economics.

Demand might also drop with improvements to renting conditions, as consumers would have an attractive alternative.

And what might lead to supply increasing?

Incentivizing people to take up trades, introducing competition, use of more efficient off-site construction methods etc.

You know all the things FFG haven't done! Why?