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

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Comments

  • Registered Users, Registered Users 2 Posts: 11,189 ✭✭✭✭J Mysterio


    You've captured it very well.

    My wife and I bought our first house last year with HTB.



  • Administrators Posts: 55,064 Admin ✭✭✭✭✭awec


    HTB really has little impact on affordability. You are trying to suggest that without HTB prices would be lower by an amount that actually makes a difference, this is wishful thinking. Prices may be lower, but not by any significant amount. People suggest that without HTB prices wouldn't have risen like they have over the past 10-12 years, I think this is delusional thinking.

    Removing HTB would absolutely make it more difficult for people to buy houses, not less.

    We have been there before, we know what it looks like. People paying way more on rent than they'd ever have to pay on the mortgage, but being unable to get the mortgage cause they can't save the deposit due to the rent.

    In fact, I would be absolutely certain that if HTB were to cease to exist that this thread would spend a lot of it's time complaining about how it's disgraceful that the government is doing nothing to help people gather the massive deposits they need to buy.



  • Registered Users, Subscribers, Registered Users 2 Posts: 6,673 ✭✭✭hometruths


    People suggest that without HTB prices wouldn't have risen like they have over the past 10-12 years, I think this is delusional thinking.

    This is like Datadude arguing against the posters claiming that HTB is underpinning the entire market. As far as I have seen nobody is suggesting this.

    My only input into this argument has been to whether or not HTB is inflationary or not and it undoubtedly it is. On HTB alone I've never got too bothered about whether the inflationary effect is significant or not.

    Whilst opposed to HTB on ideological grounds, I only started whingeing abut the inflationary impact of govt purchasing support when they introduced the First Home Scheme. That is to my mind significantly inflationary.

    But every time I've mentioned it somebody goes off on a tangent about HTB not having any impact on prices at all, totally ignoring the impact of the First Home Scheme.



  • Registered Users, Registered Users 2 Posts: 4,121 ✭✭✭RichardAnd


    I responded to you regarding Trump as you quoted a poster who brought him up. I wanted to correct what I saw as a misunderstanding on your part. It's a separate matter to housing.

    The state have everything to do with the housing market for it is the actions of the state that have contributed to the crisis. Regarding immigration, this is the direct responsibility of the state for it is the state that controls (or doesn't) the borders of the country.

    If you cannot see the affect that immigration at the levels we currently have has on the supply and demand for housing, then there isn't much to discuss.



  • Registered Users, Registered Users 2 Posts: 2,914 ✭✭✭PommieBast


    My recollection is the rule was originally aimed at "discussion" of certain domestic ethnic groups and what they got (que anti-welfare diatribes) rather than refugees and immigrants.



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  • Registered Users, Registered Users 2 Posts: 5,164 ✭✭✭BlueSkyDreams


    if they haven't yet bought, then they are FTBs themselves and will qualify for the same support on the next property they bid on.

    If they are a landlord that wants to buy their 5th or 6th property, they dont get the benefit of a proxy deposit in the guise of Help To Buy; I'm ok with that.



  • Registered Users, Registered Users 2 Posts: 7,619 ✭✭✭timmyntc


    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.



  • Registered Users, Registered Users 2 Posts: 4,121 ✭✭✭RichardAnd


    Well whatever it was, it's clearly not hear anymore, and we're now seeing excellent discussions that get to the root of the problems. I think that's a win.



  • Registered Users, Registered Users 2 Posts: 29 Help_to_


    As a potential first time buyer, the HTB is terrible for the people who actually need help.

    Here is what I think:

    • The vast majority of people who avail of the HTB would have bought anyways. The only people I know who availed of the HTB saw the HTB as a 'free' 20 or 30k. It's extremely frustrating to hear managers in the office on 75 or 80k talking about getting 30k off when buying/building new.
    • "HTB helped me, without it I wouldn't have afforded it!". Yeah that's great for YOU. It allowed YOU with your high salaries to skip the queue of people saving a big deposit with much lower salaries. The houses wouldn't be left unsold had you not got the HTB. If you're in a relationship and you are earning a combined 125k, then you should be able to save 50k in 2 years for a 500k new build, easily. A salary of 62.5k each is a net annual income of 92.5k combined. If you can't sort a deposit of 50k within 2-2.5 years, that's ridiculous.
    • The people suffering are single people and those couples on combined incomes of around 80k. I am on less than that as a single person but I would need a deposit of around 70k currently to be able to buy a bottom of the market matchbox apartment. It's a joke for people who can afford the repayments on a new house claim they wouldn't have ever been able to afford a new build without HTB. By fact that you can get a mortgage, means you can afford without HTB.

    I feel like I am going insane. There's this scenario seemingly where we need house prices to be extremely high, so that developers are encouraged to build more houses, at extremely high prices.

    We're told that developers won't build if prices drop because it's not profitable. Yet the market would adapt. Land prices would drop. Speculation and land hoarding would drop. Eventually, we'd reach a stage where houses would be built and it would be far better!



  • Registered Users, Registered Users 2 Posts: 7,601 ✭✭✭fliball123


    God just go out and talk to 100 random people and ask them about their experience for housing, a GP, using a hospital, or how many kids have to drop a subject in school due to not having the correct teacher for it the likes of Woodwork and Science are seeing a real drop off for specialist teachers. I can tell you that you will hear it for yourself. Do I have to go and get you numbers like

    Hospital wait times.

    People waiting to get the kids diagnosed for autism.

    Access to services/operations.

    Access to housing.

    Patients on hospital trolly lists

    Homeless list going up.

    Crime rate up

    stats such as no of Gards vs population no of Nurses vs population have all gone backward.

    The likes of SVP having more and more people relying on them for food and other essentials.

    Our spend as a country has ballooned up to support more and more people coming in and this at at a time when our birth rates have significantly slowed.

    Now do yourself a favor (as you have to do a bit of work yourself if you don't believe it) so go out and ask 100 randomers their experience about all of the above you may get 10 people happy with their lot but I reckon 90 out of the 100 will have an issue with one of multiple of the above and also google the items I have listed that is more than enough proof that our public services are faltering due to over subscription. You can stick you head in the sand like our politicians but with Trump already aiming a missile at our corpo taxes (ye know the tax that has us the only country in Europe in a surplus) we could find ourselves in a similar scenario to 2008 when stamp duty hit the skids.



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  • Registered Users, Registered Users 2 Posts: 7,601 ✭✭✭fliball123


    Why is trump a con man you have this wrong the con artists are the lads we vote in - Trump got elected due to what he said he was going to do and he is actually going about doing it which is why there was such a shock that a politician or the top politician in a country actually started getting to work on what they said they were going to do.

    Watch Meehole Martan sit there and after being elected on their strategies on things like housing, infrastructure, cost of living, carers being helped more and a hole plethera of other promises - watch this stick of a man and the rest of con artists in the Dail dilly dally and double speak out of both sides of their mouth without making much of a commitment it will be wording like "we will review" or "we will get that started" yada yada and another government term will come and go without much been done bar maybe the OPW being allowed make it rain again with their spend on the important items like their security huts and their curtains or allowing their buddies in RTE run roughshod over us - if I commit fraud the fraud squad would be all over me - RTE do it and they are given more money. Not to mention the man the government used to broker a deal with the independants Mr. Lowry step up and take a bow. I find it hilarious that most politicians were spouting about the Monk running and not a word about Mr. Lowry.



  • Registered Users, Registered Users 2 Posts: 29 Help_to_


    I always laugh at the "our healthcare, hospitality etc. would collapse without migration".

    Who worked these jobs 30 years ago?

    Maybe we wouldn't need so many migrants working in our hospitals if there wasn't as many migrants living here putting strain on the services and Irish people could afford to rent or buy a home and be happy working these jobs?



  • Registered Users, Registered Users 2 Posts: 1,487 ✭✭✭Rocket_GD


    So no actual empirical evidence to show that migration is killing our ability to function correctly as a society, just more anecdotes, thank you for clarifying.



  • Registered Users, Registered Users 2 Posts: 11,189 ✭✭✭✭J Mysterio


    Captain contradicto here is bemoaning managers on 70k or 80k while simultaneously saying immigrants working low paid jobs are somehow shutting him out.

    You also mention needing to save 70k for a 'bottom of the market matchbox apartment'. Where are you finding a matchbox apartment for 700k? I have seen nice apartments in Blackrock, Co. Dublin for under 400k.

    The point about HTB is you do not need to have the entire deposit up front.



  • Registered Users, Registered Users 2 Posts: 7,601 ✭✭✭fliball123


    I told you to google all of the list I outlined anyone on here who wants to know can google them and the figures speak for themselves if you not prepared to search for yourself then there is no point arguing with you, you have your mind made up even with the proof needed accessible via a simple google search. The phrase you can bring a horse to water comes to mind when dealing with people like yourself.



  • Registered Users, Registered Users 2 Posts: 4,121 ✭✭✭RichardAnd


    Is that all you're going to say? He's given you a list of demonstrable issues afflicting Ireland today, all of which may be connected to immigration, and you just call them anecdotes in a rather condescending manner? I think you need to try a bit harder if you want to rebut an argument.



  • Registered Users, Registered Users 2 Posts: 1,487 ✭✭✭Rocket_GD


    You were the one who made the outrageous statement, I asked for your proof for this, it is up to you to provide the evidence to back up your opinion, as without actual evidence, that's all it is, an opinion, not a fact.



  • Registered Users, Registered Users 2 Posts: 7,601 ✭✭✭fliball123


    Sorry all are connected to our migration policy. Our birth rate has been dropping since 2009 and our increase in population has gone through the roof in the same period so it has to be people coming in via migration that is saturating our services.

    https://www.cso.ie/en/releasesandpublications/ep/p-plfp/populationandlabourforceprojections2023-2057/fertilityassumptions/#:~:text=The%20number%20of%20births%20each,60%2C580%20births%20recorded%20in%202021.



  • Registered Users, Registered Users 2 Posts: 29 Help_to_


    Your figures make no sense.

    I said I am a single buyer.

    I'm not bemoaning managers on 70k or 80k. I'm bemoaning the fact they get a free 30k from HTB when they don't need it.



  • Registered Users, Registered Users 2 Posts: 1,487 ✭✭✭Rocket_GD


    They have given a list of issues that they believes are to do with migration, with no actual evidence to back this opinion up.

    I can't argue against empty sentiment with no actual evidence provided to prove that migration has caused the issues they are speaking about.



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  • Registered Users, Subscribers, Registered Users 2 Posts: 6,673 ✭✭✭hometruths


    Welcome to the discussion. IIRC one of the biggest criticisms from a report into effects and efficacy of HTB was exactly your point - the vast majority of those who availed of it did not actually need it.



  • Registered Users, Registered Users 2 Posts: 7,601 ✭✭✭fliball123


    I have also said anyone who wants the facts can simply google any or all items on the list. If you don't want to do it Gary then don't and even if I took the time to put up links to the numbers its not going to change your mind so why should I bother. Anyone else who isn't too lazy to do some simple internet searching on the list I put the facts are damning about what immigration is doing to our services. Now do I want all immigration stopped - NO I would rather put the onus on our knob ends in government to build, hire, recruit and train to keep pace but until we get those numbers we need to look at the tidle wave of people coming in and bringing it to a standstill until we let our services catch up to the current numbers. God forbid our gombeens in power actually start proactively planning for the future, having said that in fairness when their shelf live is that of a term in office they only see the short term and their own interests. They will invariably kick the can down the road and let the next knob ends who are elected deal with it.



  • Registered Users, Registered Users 2 Posts: 4,121 ✭✭✭RichardAnd


    I'd just rather we didn't allow immigration to the point that it adds 80k or so people to the population each year.



  • Administrators Posts: 55,064 Admin ✭✭✭✭✭awec


    Sorry, but I think you're leaving in dreamworld, or maybe just fundamentally misunderstanding the impact HTB has on the market.

    You are under the impression that getting rid of HTB will allow you to jump the queue ahead of higher earners? I think you're going to have to show your working out here as this makes pretty much no sense at all.

    Crap rolls down hill, if HTB goes then the higher earners simply move down the ladder. When they move down the ladder, guess who gets kicked off the bottom?



  • Registered Users, Registered Users 2 Posts: 7,601 ✭✭✭fliball123


    Well if the turned the tap off until we caught up and actually built up some reserves in our public services this is how I would go. The issue is our birth rate is dropping - due to a lot of issues like cost of living and how expensive it is to have a kid and work and do it the right way of course our left leaning nature means we have many who have made a career out of being a mum and getting the state to be baby daddy and of course those who cant afford a kid will have to contribute to this via taxation. With that in mind having a strategic migration system like that of Australia where they will only give you a long term visa if you are someone who will be contributing to the tax take and less likely to be gaining from the system. We have way to many welfare tourists and English learning students here and we should be stopping that to begin with and looking at bringing over more skilled workers as they are needed in the short to medium term and it could be longer term if our government persist with things like encouraging all kids to go to college instead of looking at incentivizing lads to go into a trade like plumbing etc.



  • Registered Users, Registered Users 2 Posts: 7,601 ✭✭✭fliball123


    I have put up list to the facts that you can google for yourself or for anyone to google. You are refusing to look at it so no point in arguing with you. So if you want continue saying its my opinion let me flip this argument on its head show me facts that our immigration policy is not damaging to our current levels of public service or even put up a simple list like I did and I will take the time to review it. Good man Gary keep the head in the sand and I looking forward to this list?



  • Administrators Posts: 55,064 Admin ✭✭✭✭✭awec




  • Registered Users, Registered Users 2 Posts: 1,487 ✭✭✭Rocket_GD


    Lads this topic is about Irish Property Market, while justifiably it's fine to discuss the impact of immigration on the housing market but you have gone on to talk about societal impact, gp waiting lists, crime stats, the levels of immigration that are acceptable to you etc.

    I don't care that I'll be warned for back seat modding, but go and discuss your opinions on immigration in the dedicated thread and let people who want to discuss the property sector discuss it.



  • Registered Users, Registered Users 2 Posts: 29 Help_to_


    Think you need to read my post again.

    I never said I want to jump ahead of anyone. My issue is that high earners who would purchase in any case, are getting free money for no reason.

    I think you are the one deluded if you think a couple on 150k combined will decide to purchase a second hand house for 450k just because they don't get 30k HTB. These high earners have the money sitting in their accounts. If they didn't get HTB they'd just use their savings.

    Just go look at a new estate and see the cars outside them. Are you telling me that these people are stuck for money and would never be able to buy new without the 30k help to buy?

    I think the vast majority of people in this country will agree that if you can afford to get a mortgage on a new build, you don't need help to purchase the new build.

    Saying someone needs HTB to afford a new build is like saying I would need 6 months free tax to afford a 4.0 litre petrol audi A6.

    The fact I would purchase an 4.0 litre petrol Audi A6 is clear evidence I don't need any help to purchase it.



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  • Registered Users, Registered Users 2 Posts: 4,121 ✭✭✭RichardAnd


    I think we should encourage native population growth. If we got the birthrate to the magical number of 2.1, we would have a steady population, with room to accommodate a small number of upstanding immigrants each year. A fairly stable population would be of benefit for future planning and for the environment, for there would be no need to build tens of thousands of houses each year nor deal with the systemic cost of huge population increases.

    Of course, this would not deliver perpetual GDP growth…



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