Couples on 107K can’t afford a home

You are completely wrong on that.

My parents moved into a newly built housing estate in Killiney in the 1960s. It was built on open countryside.

https://en.wikipedia.org/wiki/Killiney

"South Killiney consisted of farmland, uncultivated hillside and woodland, a few large country houses (Ballinclea House, in particular, owned by the Talbot de Malahide family destroyed by fire in the early 1970s, and Rochestown House, near to the contemporary Killiney Shopping Centre), the convent of the Sisters of St. Joseph of Cluny, and Killiney Golf Club, a nine-hole course founded in 1903."

Those country houses with farmland were sold off for development in the 1960s and housing estates were built on that farmland e.g. Ballinclea Heights, Avondale Road etc. When I moved to Blanchardstown in the early 1990s, it was actually more built up with more services than when my parents moved to Killiney.

I never grew up with the entitled expectation that I could live where my parents grew up. It just wasn't possible, I had to move out further, that is the outcome for generations of people. It is only in the last decade that people have sought the impossible.

Long considered one of south Dublin's poshest addresses, Killiney has been home to the rich and famous for well over 200 years. Back in the mid 18th century, Colonel John Mapas might not have been quite as famous as Bono is today, but he was certainly rich enough to afford the cost of building a large house on Killiney Hill.

https://www.independent.ie/life/home-garden/homes/killiney-penthouse-with-links-to-one-of-irelands-wealthiest-musicians/39657492.html

What are the chances of that article being re-written in 2040 with the word "Killiney" being replaced by "Blanchardstown" 🙂 …… you seem to think it is following the same trajectory. Good luck to you with that if that is your retirement plan.

I am looking at it from multiple angles. One is self, not relying on the state or others to make the world convenient for me. This is empowering as you can adapt to the world better rather then fighting against a dysfunctional system.

The second is seeing the flaws and dysfunction and estimating the probability it will be rectified. I see in general , lifestyles improving but a disproportionate disconnect between rich and poor. That’s the way the world is, capitalism is becoming more like the feudal system , but history has a tendency to repeat itself.

That aside, as population grows, you can’t keep building on shrinking land. Personally I don’t believe high rise cities is good for anybody’s health. Regardless transport and infrastructure is improving and the increase in work from home and job flexibility makes living in the city less and less important.

Are you saying house prices will keep increasing proportionately and people will have to keep moving out further ? That’s what I imagine the way it works most places. Supply and demand and of course location location location.

To be fair and clear , what are you proposing exactly ? Maybe I’m not fully understanding your point.

not relying on the state or others to make the world convenient for me.

Would you put the current state of the housing market down then to the individuals over-relying on the state to make the world convenient for them? The eponymous scrounger wasters of the thread title on 107k a year, siting on their arses waiting for handouts?

I think it's the opposite. The State's policies have messed up the system to the benefit of the "haves" and to the detriment of the "have nots". The difference between the former and the latter is often only age. Land tax should have been levied against speculators for years. And for as long as I've been commenting on the topic on here I've said that. The State should cut all supports and subsidies to the private market. It's activity in the market should be limited to it's own building and rental. They need to go back to building entire estates or developments of social housing. They can keep requirements for a mix on private developers if they wish but they need to restart their own pure social housing mixes. If they cannot do it directly themselves in the near term, and private developers are trying to screw them, then bring in modular housing units en-masse and/or give contracts and visas to massive foreign construction firms to get in and get the job done and get out.

What kind of nonsense is this?

The point I generally make against these type of boomer posts is a simple one.I ask the person - usually condescending against a younger demographic, going on about how their boomer position is purely down to sacrifice and hard work - is whether they (at the senior end of their boomer career with presumably their highest income) would be able to get a mortgage to buy their own home today with the standard deposit and mortgage the rest. Often the honest answer is "no". If they can't do it today at the senior end of their career, how on earth would they expect they could do it today if they were younger and at the start of their career?

You see they don't want to admit that their massive privileged position (relative to younger people) is down to happenstance of timing of birth rather than some delusion of it being solely sacrifice or hard work or intellect.

You may or may not be old enough to be in the "boomer" demographic yourself, but you mention buying in the 90's so I'll presume you are fairly senior in your career and I'll ask you to perform the same thought experiment. Imagine you have no house. You have a 10% deposit and are going to get a 4X mortgage yourself. Where are you buying? If you cannot buy in a location you would like to buy, it that simply because you don't want to sacrifice your holliers?

Imagine complaining that young people don't want to wait 40 years for a house …… .

It isn't solely down to "hard work" as you put it. A couple in the 1980's both with jobs in Dunne Stores were given mortgages by banks. House prices were on average 3 or 4 times the median salary throughout the 80's. House prices are now 7 or 8 times the median salary.

It doesn't matter how many lattes you think young people have, it is a different world in the market compared to when you were buying.

Try and buy some of the 400 3 bed houses you think that your 400k budget can buy and get back to me on it when you discover that they're selling for 450k+. A 400k budget (mine and my partners) are shopping in the 325/350k range.

We paid the deposit on our property yesterday, a nice 2 bed in Swords that went 45k over asking price. It's not the dream home but it's a start.

I also lived in a rental bedsit with partner and child while saving for a deposit. A kip, but we are told on these threads that a mid-20s young person DESERVES to live in a two-bedroom apartment!!

Unless you want to move to Russia or China you,ll still have to deal with capitalism. You probably won't hear people complaining too much when the house they own go,s up in value

and eventually gen z will inherit homes from thier parents .

We had a housing crash in 2008 , many builders went out of business and left ireland as the economy slowed down.we had ghost estates with empty houses.Now we don,t have the capacity to build the no of houses to even catch up with the backlog .Materials are more expensive and we have a shortage of building workers we also have issues with infrastructure .We should be building 10 storey apartment blocks in citys to keep up with demand. This was discussed on the pat kenny show , even if we could import 10,000 builders where would they live?

they would be spending most of their income on paying rent .

if the gov would get rid of inheritance tax it might be ok, something you will get hit for if you live in Dalkey or Finglas

3.5x or 4x €30k is still nothing. That's what I'm currently on. Also not a FTB as I did have a house but recession, change of jobs (for mental health), and other normal factors meant I had to sell and take a hit.

Looking for now, all I could maybe get in the entirety of Co. Limerick (not city) is an overpriced site or a basically derelict building on a tiny site. Tipp not much better.

I've no hope of buying.

There are 4 properties to rent in Limerick, 2 of which would take all or more of my wage. One is 800 for just a bed, and the last would take half my wage and in a crappy area. No point looking further afield because I wouldn't be able to afford to travel to/from work.

I've given up on being able to buy/rent for the foreseeable future. I'm part of the statistics of 40+ year olds living at home. In fact, it would be great if I could officially live at home, but my mother would lose some oap benefits. Not if its someone who isn't an immediate relative though, which makes no sense. So I'm technically homeless. Thanks state!

Good luck with your house.

To eat that cake they would first have to come home from their Taylor Swift concert in their taxi, (assuming they didn't fly to London to see her of course).

If you are saving for a house, why are spending €19.99 to fly anywhere? Either you are saving all you can or you are not.

"ohh but I have to be able to liveee! (in Barcelona for a quick city break)"

I just saw this headline on the OP. Yes I realise it is difficult for people to get on the housing ladder.

But there are two sides to every story, young people spend eat out (there is a thread on boards "has eating out become a luxury" with no hint of irony), they buy over priced coffees, spend loads on clothes, iphones etc. Then wonder why they can't save.

A lot of people don't know how to budget, let's be honest. They live for now not thinking of the future.

In other European countries it is common to rent and not buy homes. The Irish psyche of having to own a home is ironically still a tradition that has held up.

Plus in the future in Ireland people will eventually move further and further away from Dublin looking for cheaper homes. Discovering the "wild west". Thankfully with the new culture of remote working (thanks to Covid) it should be less of an issue for people.

Not once did I mention that I was expecting to buy the "dream home". We have bought what is affordable to us within our budget, in fact we're getting a 80% mortgage for it. I literally said "It's a start".

We have money, and trust me I'm as frugal as the next person, shop only in Aldi, majority of my clothes are from Penny's & charity shops and very rarely go out for meals as I enjoy cooking. Haven't been out of the country or even more than a 2 night stay in Wexford for over 2 years while saving for the deposit.

Fair play to you on making incorrect assumptions on mine and others lifestyles based on an overused stereotype.

I'm lactose intolerant so no Lattés for me.