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

It certainly has potential. There is scope here to have a positive private sector involvement. Many employers are frustrated with the governments inaction to the point that they are providing housing for employees themselves.

With this scheme there could be the opportunity for those employers to source land for the Scheme. My employer does this in the USA, does wonders for there ESG score.

High probability that homes would be built where they are needed bringing environmental and efficiency gains rather than long commutes of current policy

Would make a refreshing change from the private sector FFG are mingling with whose sole objective appears to be milk the taxpayer for everything they can get

Should be a token rent payment for the Land imo 1k per year rising with inflation. Servicing sites is not cheap and as these are aimed at median to average income, they can afford it.

Notable that they appear to be confining the scheme to 2 bed units. It kind of encourages turnover thereby potentially maximising the number of couples families that may benefit as well as addressing the shortage of 2 bed units in the market. 1/2 beds are needed at a life stage where your income may be lower (career start/finish)

Apologies if this comes across as a party political broadcast. My concern is that why are they coming out with this now when they have been mouthing on about housing for years and we have to wait till September for there full housing policy.

Shades of political football

Maybe they need a new leader then, I heard that interview she did before the local elections and she was all over the place on an issue they were gathering most support

I saw something interesting the in UK regarding council tax. A proposal for a 0.5% tax on the value of your property to replace the current system. I would be amazed if they followed through on this but from an observational point of view it would be great to see how successful the implementation is.

I know several people have talked about tax being unfair in Ireland and I am guessing this is close to what you would want here too.

https://www.birminghammail.co.uk/news/cost-of-living/new-council-tax-band-system-29659478

S&P 500 has fallen to levels not seen in….40 days.

any thoughts - is the government's first home scheme which is essentially an interest only loan to be repaid in full at some point in time a blatant attempt by the government to break central bank lending limits - and if so how come the central bank are not more vocal about it

I’d have said the same 6 months ago, but with how SF have fallen it’s hard to see anything but another FF/FG coalition now. FF would be crazy to go in with SF also, it would decimate them.

FG move to the right economically is already evident under Harris.

https://www.rte.ie/news/politics/2024/0801/1463035-ireland-politics/

Im very hopeful of a stronger FG led government with Harris leading out with what Varadkar said he’d stand for but never really did, knowing he has 5 years to make some changes

There would also be civil unrest should it come to pass

Years of mismanagement by conservatives with our own crew copying the worst of there housing initiatives

how can you possibly say that…it was a labour government who’s belief for over 100 years is more tax to pay for an increase in public spending. Its not something that needs to be spelled out.

I'm a labour voter and one of there policies is a huge contributer to why your taxes are falling. Free third level education brought the Celtic tiger economy zooming up the value chain leading to record tax receipts

Do you think FFG squandering your taxes to the tune of upto 40/50% per unit to provide a unit of housing to one private citizen when we are on record wages will help reduce your taxes

It is astonishing that our best, brightest and consequently our best paid are unable to see this, maybe they are too busy to give it 5 minutes thought.

Everytime labour have been in government, the country has been in a much better position financially, economically and sustainably than when they took over.

Additionally when tough decisions need to be made, they did it regardless of whether it damaged the party

In the UK, Years of conservatives privatising public services has resulted in investment funds asset stripping, loading with debt, collect the bill payments with little investment in infrastructure meaning services are no longer fit for purpose. Continue untill taxpayer bailout is required

Which is more damaging for taxpayers?

serious wobbles in stock market at moment with japan seeing biggest drops since 1987 and likes of warren buffett offloading huge portion of apple to build 277 billion dollar cash war chest

oil at 7 month lows despite major war brewing in middle east

wonder will see more ecb interest rate drops to help drive more property prices rising here

VIX (fear guage) up 170%