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

Someone on JSA of 244e a week will pay 39eur a week in rent for their social housing in DLRCOCO.

Again, what exact sort of grand lifestyle do you think someone can live on 205euro total income a week?

Take away even a comparatively cheap budget for bills, food, and transport and you'll have nothing left for disposable income to actually live a lifestyle on.

An average single income earner earns a multiple of that, even after paying private rent.

People working and stuck in their parents box room are stuck there because our government is building 30,000 housing units a year and letting our population grow at 100,000+ per year, not because a very small number of poor people are in social housing.

if you want to purchase a property you have to make sacrifices. 

Just as I said, some still say that all people have to do is knuckle down, cancel Netflix and don't go for brunch and you can get a house.

As was stated in 1990 it was just over 4 times the median salary to buy a house, now it is just under 8 times. Very different times.

But in reality the long term unemployment rate in Ireland is 0.90% as of 2024Q4. And I'd wager a good percetange of those are downright unemployable - think of the literally worst 1 in 100 kids in your school, or of people you'd meet on the street, and how they likely have/had actual mental problems.

Which would suggest that the idea that large numbers of people are deciding to not work, because its better for them to sit on benefits, is a complete myth. The data says the complete opposite: almost everyone in this country chooses to work.

Okay I will indulge you. I choose to better myself and not rely on welfare. I could not had bettered myself and worked a menial low paying job with no chance of betterment living pay cheque to pay cheque and not taking responsibility for me.

I sacrificed my free time to better myself, it was not handed to me, which ironically the house I purchased in a desirable area has people who avail of HAP and welfare benefits because it does not make economical sense to work. Go figure! so now you have people (me) working in a role receiving a wage commensurate with my qualification and experience with some people living in the same area etc while not working.

If we extend your argument to its conclusion then something is not adding up!

Blut I have 2 nieces who do it. Clondalkin heads one has 4 kids 2 different daddies the daddy she is with now is not with her on paper but lives with her and she gets everything off the state and he has his wage coming on top. So to say its just that kid in the class going no where is wrong there is a litany of abuse of our welfare system going on you only have to look at how many billion we spend on it and there is no way for the welfare system to crack down on this even a visit from someone from social welfare the dad simply has to say I over visiting my kids.

In specific circumstances that most people on JSA don't meet (and it's not given on JSB) don't meet. It's also a part time payment that doesn't come close to covering costs.

You are basically making up a set of numbers you think people are getting in supports that they simply aren't; and using that to make your invalid comparison.

Those “stats” are nonsense. It is based on an E.U. survey. The CSO shows half of adults are out of home by 24. 1 in 5 of 30 year olds live at home. I can’t understand how people don’t sense check these “reports” by just looking around...it is quite clearly utter nonsense to suggest 75%.

Similarly this stuff about the poor creatures forced to Australia. They are going for a piss up and to live with friends, same as they have ever done. Net “Irish” migration last year was less than 0.1% of the population (less than 5k) and yet we have people claiming these people are akin to those forced by the Famine and the regular recessions to the 1980s and the post GFC lot.

Come on ffs, it isn’t “exaggeration”, it’s just gibberish. People who swallow this stuff amaze me.

Housing has quite clearly gotten worse, but the point here is that your average 23 year old is in a far better position today than someone who was say 23 in 2010.

In 2010 you were fortunate to have a job, with a huge percentage on enforced economic migration (and the Stats actually bear that out, with 8 to 9 times the level of net migration as of today). Having a job, let alone buying a house was a bit of a punchline back then.

For that 23 year old, they endured either migration or significantly eroded earnings for many years. Sure there might have been some cheaper rent for a few years if they hung on, but savings were a bigger challenge as incomes were suppressed and taxes higher. They then ran straight into rapidly increasing rent in the mid 2010s, at a period in their late 20s when many are starting to look at marriage et al. And moreover, the borrowing rules were 3.5x and deposits 20%. There was no Help to Buy. Rent controls came too late.

For a 23 year old today, sure renting might be initially a bigger challenge. But it is not insurmountable. You can rent and you can get places (economic migrants here are far worse off in terms of access to housing) after a time. There is a strong jobs market with good salaries and significantly lower taxes, allowing for higher savings rates. And you can look ahead to the option of Help to Buy. It is still not amazing and needs to he better but they are much better shape than the previous generation.

The depressing thing really is that the 23 year old of 2010 may well still be at home now that they are nearly 40.

Save me this weird narrative about 25 year olds that keeps getting pushed…

Can we get evidence of the reality of it being worth over a million after tax?

Can't imagine a social house in Tullamore or majority of the country being worth that. Oh look here's evidence to prove it's not true, average price of €300k for the house, bit off your over a million theory.

https://www.offalyexpress.ie/news/tullamore-tribune/1589666/nineteen-homes-available-in-new-offaly-social-housing-scheme.html

If we take the median price of a house in Ireland last year, it was €330k.

Why bother spouting this easily disproved nonsense?

Whatever about a million, but this ignores that most of the population have a marginal tax rate of 48.1%.

If you were working, renting and paying tax. And your employer or a stranger decided they were going to outright buy you a €330k house. They would need to give you €635k.

A 330k house is equivalent to €635k of additional pre tax income for most of the population.

This may work for some people, but not everyone. Living rural is very impractical in many ways.

500k property, interest over 30 or 35 years... yes, a million euro... after tax...

There is a mortgage calculator there... also no 3000 a year management fee... no bin charges... like I said, a one million. Euro benefit...

Yeah, it can't be ignored... people need to do the maths...

Ok so one of your big solutions is live in your parents garden until they die and give you an inheritance.

What if there's more than one young adult in this family? What if the person living the high life in Mammy and Daddy's back garden gets into a relationship, does the partner now live in the garden as well? There's no planning for a family in this scenario.

Just live off someone else's (parents wealth) til they die and give you a house. Not much of an adult life.

You do realise that not everyone in the country lives in Dublin? What about the people who are originally from Cavan, Sligo, Roscommon, Tipperary who work in Dublin and are now being brought back to the office on a more regular basis?

Some people do have to rent. Majority of people can't (illegally) just erect a garden room in their parents back garden and be grand there waiting for them to die to get an inheritance.

Can you leave your couple of mates out of this who are, in my opinion, still sponging off their parents as adults. They are not the many, they are the few.