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

Link it to the property tax valuation. A simple example you get a 3% tax free return on the value of the property. If a landlord has multiple properties he gets the rate based on each property.

Ah yes because everyone who doesn't own a home just partied away their 20s and then decided at 35 "I want to buy a house".

I suppose they were eating avocado toast and buying takeaway coffees every day too.

Home ownership has never been more difficult to achieve in the last 40 years. Nothing to do with pulling up your bootstraps or a bit of hard graft. Prices have raced ahead of incomes and cost of living also is soaring. It's simple economics, not related to some stereotypes of millennials

The CBI did a House Price to Income analysis in 2022, so it's missing the most recent two years but you could probably extrapolate the trend in your head.

https://www.centralbank.ie/docs/default-source/publications/research-technical-papers/estimating-the-trend-of-house-price-to-income-in-ireland.pdf

Pension funds typically don't invest in the S&P 500. They usually target a lower but more stable risk/reward function.

Talks of SSIA and UK style tax efficient ISA's being introduced in the future

Southern Europe has sky high youth unemployment, and their own housing crises in cities like Lisbon. They're not examples of either functional housing markets or functioning employment markets for young people.

How many 20 and 30 something young people do you know who would rather live in their parents house than in their own apartment/house? Very very few functional adults want that lifestyle, they want the freedom, maturity and independence of having their own home.

And non anecdotally, in countries with functional housing markets for this demographic the number is very very low (ie the Scandinavian figures, or look at the % of American college students who voluntarily choose to live at home, or plenty of other examples).

I don't have the figure for the % of young adults living with their parents in 2006 to hand, but I would very strongly suspect it was significantly less than in 2022, or 2024, given the trend I have seen in figures since 2011 that I posted. Do feel free to tell us it if you know it.

You've already been proven wrong on this - property appreciation far outranks most index funds and pension growth in the long-term.

And after buying a house your cashflow improves as difference between rent versus mortgage & maintenance is big. Which means you can then pay more into your pension.

But paying into pensions when you haven't even got a home of your own is incredibly stupid.

Plus it's not a all or nothing decision. I contributed to my work pension and saved for a house at the same time. You can do both.

Now that I have the house I contribute to my pension and buy into ETFs.

So now I have three nest eggs growing.

I must be clueless though.

The best way of growing wealth in this country is buying and owning a home, pensions are 2nd to that.

Paying down a mortgage is building equity in a home, paying rent is dead money.

The idea you are better off not buying a property and continuing to pay rent and have larger pension contributions is just complete nonsense.

Thankfully everyone else on thread can see you are posting nonsense - I think I've debunked your posts enough so I'll leave it at that else this thread goes round in circles.

I'm not sure what prompted this particular reincarnation of your many accounts to start posting in Irish property market, but you would do well to start backing up your posts with some substance other than connections to 2008 that don't exist.

Maybe a low target. But it’s a realistic one. We don’t have unemployed tradesman. We can build a certain amount each year.