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

Your theory works if you have secure housing, not so much if your renting

The RPZ's incentivise selling up and buying a fresh home that can be rented at current market rates

The path to ownership is now loaded with taxpayer initiatives through developer grants and waivers on costs and multiple grants for buyers. This deems all new supply as council housing by the back door without the state having any asset and only affordable to a minority. Effectively council housing is only available to the wealthiest.

The economy has evolved to such an extent that your security of housing not your salary is the key determinant of your quality of life. This is the power that the system has passed onto 1 sector in the economy. It has the power to break us and it will

Definite pick up in the Daft ads for Clare this week. I was previously told by an EA in July that they were advising people to wait until September to list houses. Anything has to be better than the dismal summer for houses we have had.

I’m not really sure what this has to do with my post. I do wholeheartedly agree with your comment that your housing situation is more important than your salary in terms of your quality of life though.

All I was saying is. Net wages are up almost 30% in 5 years. If cost of living (excluding housing) had gone up 30%, then peoples remaining income to spend on housing would also go up 30%….in reality cost of living has only gone up 20%….ideally this would improve living standards for people…but for those without permanent housing, their extra income is being soaked by housing costs which have gone up 35-40%.

The maths seems sensible. House price & rent growth since 2018 are predominantly underpinned by increasing salaries and pushed a bit more by a lower cost of living burden (I agree this is a bad thing by the way. Real wage growth should be spent on fun stuff, innovation, or saving…not ploughed into housing which is just a further wealth transfer to the best off)

Houses are expensive, but they are not that expensive.

Single Median income to average house price ratio is approx 7.5

HTB will give you 10% or up to €30k, so that would bring it down to approx 6.8.

Not great, but not terrible, considering other parts of the world.

A dual-income couple on an average salary can easily afford an 'average' house.

The issue is that there are too few houses on average to buy.

I wonder how many of those 615 properties are just flats above boarded-up shops.

I was fairly certain that USA house to income ratio is higher than Ireland are you sure your comparing like with like?

A quick google brought this up

Former FG TD and now MEP seems to have a big issue with an open market pricing system used in rent and housing when it's applied to concert tickets

Its a shame they can't learn from the dangers of handing over the pricing power to a small number of vested interests

it’s like all your posts have become political broadcasts and you’re using the slightest link to properly in order to post….but his takes the biscuit.

The comparison made was poor because it took individual income to price ratios and compared to household. Apples and oranges.

The guys data is questionable also because two seconds on his Twitter page or website would show him to be a deranged loon.

Average US home prices are c.$420k. In order for the comparison to Ireland to be true. Median individual income in the US would need to be c.$95k…it’s nowhere close.

Home price to income ratios between Ireland and USA are very similar but with US having massively higher interest rates. House purchasing is cheaper in Ireland now than USA (by a distance) which wouldn’t have been case historically

In what way does it take the biscuit. A supply constrained product is exploited to extract the maximum out of consumers. The only difference is that the consumer can say, "no thanks" without a huge impact on their lives like housing. We have 40% of under 35's living with parents and 10k of our nationals possessing skills in high demand escaping to Oz alone on an annual basis

I'd be the happiest poster if everything related to housing was removed from politicians, there incompetence is unquestionable

are SF going to build any houses with the 39 billion (plus possible interest) of tax payers money they are going to throw at the problem?

who are these 300,000 alleged houses really being built for ?

Was it a public or private company that built it?

The most competent at delivering public infrastructure are the Spanish and Italians who employ the expertise that ensure the taxpayer is not over a barrel