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

"Ireland will need to build 93,000 homes a year meet demand between now and 2031, according to a new report by stockbroker Davy.

Last year there were only 30,000 homes built in Ireland, which fell short of the Government's official target of 33,000 and far below projections by the then Minister for Housing Darragh O'Brien.

Davy's forecast is based on its estimate that the population will reach six million by 2031.

The report says the housing shortfall is now 230,000 homes."

https://www.rte.ie/news/business/2025/0205/1494832-davy-on-housing-market/

We're just a casual 60,000 odd homes off whats needed, per year, now, and rising rapidly it seems. Hitting one third of whats needed is an utter disaster.

And exactly that, there is no point in working hard because there is no reward.

Well theres pretty a substantial monetary reward. I know I personally would rather not live on 230euro a week on the dole, it would be a massive downgrade to my life.

As I'd imagine it would be for almost every working person whos used to a far higher income than that.

For all the talk of "oh its so much better on the dole, why even work" I guarantee the people saying it have never actually tried living on the dole for long. I graduated into the 2008 recession so got to experience it first hand, and its not fun. You're constantly broke, and constantly having to engage in ridiculous schemes with the department of welfare to get them to keep paying you.

And the same thing with just giving up and "getting a free house" - waiting lists are 10+ years in most councils these days, so good luck with that.

it's odd that you'd want the economy to crash as it would negatively affect either yourself or family and friends

As does prices and rents rising at 3 times the rate of inflation, this can cause an economy to crash or will exacerbate a crash when it arrives.

We had a link to an article earlier that deducted that voters while showing concern about rising prices were not compelled to do anything about it

I suspect similar feelings are felt by those not benefiting from economy/work

Looka across the large pond for examples

The maximum Jobseekers rate as of this January is 244euro a week. What exact sort of "better standard of living" do you think you would have on that?

And why aren't you quitting your job to do it tomorrow and live the better life if its so easy to live the high life on it?

For housing specifically, there was nothing stopping you going on the housing list yourself at age 18, either. Anyone earning under 40k pa is eligible for it, which presumably you were at the time.

I am not quitting my job because I am working full-time since I was seventeen and have achieved a degree, masters and professional qualifications all while working full-time.

I was brought up in a working family were you worked rather than rely on welfare. We took any job we could get as we are workers. Always were and always will be.

I started working full-time in 1988 when the country did not have a pot to piss in and every family had at least one member of their family emigrated looking for work.

Our welfare system was not as generous then as it is now.

There is no need for any incentives or regulations on offices.

There is nothing being built for completion beyond 2026 in Dublin in terms of offices per JLL.

https://www.businesspost.ie/news/no-new-office-blocks-schedule-for-completion-beyond-2026-jll-ireland/

Indeed, given the lead times on new developments of say 36 months or so, a medium sized one in Dublin would likely not be completed until 2028 at this point. It is highly likely we will see a shortage in 2027 as market sentiment again over compensated on the office.

Notions that the government should stick their oars into commercial like this are misguided and show people have no learned from the residential construction crash where government tinkering in the early 2010s made things worse.

If the government are to step in with incentives, it should be to be for the conversion of small office spaces into residential (ie returning places like Georgian Dublin to being houses).

Yeah but you need to look at what the average house price was, the average take home wage along with the average cost of the day to day bills was back then and compare to now. People have less disposable cash now in their 20s/early 30s than I did when I was 20 that was back in the late 90s early 00. This is forcing young people to live at home longer and/or to emigrate to a country where they can rent and live without the government fleecing their wage packet to pay for others who get things like housing handed to them for nothing. Our system is very unfair with regards to how much we get taxed and how low a rate our tax bands particular the higher tax bands kick in - Not to mention its not like they are spending it on public services or infrastructure as Ireland as this is way below where we should be when you factor in what the bog standard worker pays into the system.

I think we are grossly exaggerating the situation for those in their 20s. It is actually those who came of age between say 2004 to 2014 that have been most screwed over.

This is gibberish. The State intervened with Rent Pressure Zones. Central Bank rules (who impact more than most on house buying) have the most impact on house prices outside of supply / macro demand factors. The CBI for years cheered in their briefing documents that they kept a lid on house prices when recovery was underway, juxtaposing us with international peers in terms of borrowing ability.

I hate this sort of conspiratorial thinking. I do not think the government want a collapse in prices (and the reasons for that should be obvious, although I note lots would want it) but their key goal is to get more home ownership. That narrows the disaffected vote considerably.

I am not sure you are comparing like with like. The houses nowadays are completed to a much higher standard (as a min) than they were when we purchased our homes. My first home did not have weather glaze windows, did not have a kitchen, did not have insulation, did not have central heating. Could you imagine suggesting this to people now? Remember everything that has to be paid for in the price of a new property.

I never could afford holidays growing up, could not afford a car etc. Life is about choices very few people are in a position to have enough money to do what they want.

if you want to purchase a property you have to make sacrifices. I remember when I was saving for a deposit I had to cut back on a lot to save my deposit. I remember friends of mine having similar sacrifices of no holiday, going out maybe once a week and a treat was a takeaway.

Before you say things are different now both of my nieces purchased properties with their partners in the last 5 yrs and are not in very high paying jobs but made choices to save in order to purchase their properties. They lived at home until they could afford to purchase properties up to their mid 20's so it can be done, people just need to make choices.