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

Not whinging about anything just joining the dots that impact on our property market and how we go about implementing our immigration policy is a huge factor when it comes to the effects of supply/demand and cost of Irish property.

Yeah great good lads. Even when it was the bears I knew it was the immigants.

I presume it's a half arsed way of pointing out that there can be a system where a shortage means house prices go up. This can then be exacerbated by vultures who can outbid those who would live in that house. Given the lack of options, they then have to pay high rent to the vulture to live in that same house. This increased profitability then makes the above more attractive again and works as a feedback mechanism

An extreme analogy, not related to property, was Martin Shrekli in the US. He bought the rights to a particular drug and immediately jacked up the prices. None of the people who needed the drug could have afforded to outbid Shrekli for the drug. No company that would have bought it to manufacture it and sell it for a reasonable price could outbid him either.

Don't lose your collective shits. I'm only explaining the hypothetical concept that I think it is trying to put forward. Vis-a-vis effectively a system where those with the money can outbid you on something that you need, in the knowledge that they can then force you to pay a sufficient amount to them which makes it profitable for them.

"Wouldnt it be amazing to have someone like Trump"

Brilliant.

I always used to tell my English friends that Irish people are too smart to fall for con men like Trump or Farage, and judging by election results Irish people are.

But in the world of Boards.ie it's amazing how many fall so easily for these con men.

Thank god this place doesn't reflect Irish society in real life.

You're missing the point. Farage is a charlatan, I will agree. Trump's background is also enough to raise serious questions. However, what they represent is a political hand grenade, and this is what fillball is saying.

That was the woke left housing market's fault.

You've asserted that immigration is a 'major issue' in the housing market and you tried to back that up by saying having someone like Trump here would be good here.

How/Why would it be good?

You're basically saying in your last point that the government has nothing to do with the housing market.

So what has immigration got to do with it?

The anti HTB posts always flag inflation as the over-riding reason why the govt should not extend the scheme to 2nd hand homes, but they don't point out the bridge that the scheme provides for first time buyers; many of whom, without the HTB scheme, would not be able to afford the property at all, even at the reduced, non-inflationary price.

The deposit is often the blocker for FTBs, not their salary or their ability to pay down the mortgage. Who wants to be trapped in a rent spiral when you know you can afford the mortgage payments, but you just can't save for that deposit AND pay sky high rents at the same time.

If the HTB scheme has a 5% inflationary effect on house prices but at the same time allows 1000s of young people to purchase their first home, I'd say the scheme is more than worth the price rise.

A lot of those young people would emigrate if they cant get on the property ladder; I am glad they are able to buy here and to stay here and the HTB scheme offers many people that opportunity to stay in Ireland, long term.

Landlords prospective or otherwise are simply not buying homes that are available on the market. The increase in rental stock is almost entirely from BTL schemes like apartment blocks that are never offered for private sale.

There is a false narrative going around that if it weren't for HTB or FHS that a FTB would be outbid by an evil landlord, but the stats don't bear this out at all. Almost no small landlords are buying new builds because finance is too costly (look at BTL mortgage drawdowns last year).

Any new rentals are coming from large landlords who are buying apartments by the block, or forward funding these blocks from construction stage.