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

I supported the idea of water charges initially, until half the country as usual, the ones already benefitting of a huge wealth transfer, were going to be given it for free… The Irish way… you work, you pay twice, for yourself and others…

I bothered. It was YOU that suggesting taxing OAPs out of their homes. Never bothered to do the sums on how this equity release/ reverse mortgage word work either.

So you saw nothing about replacing income tax with wealth tax?

If you are saying equity release is a good idea to stay in a persons home in order to remain there you could show the sums. The fact you won't and just say the same thing about inheritance instead indicates to me you don't actually believe it and you know the sums don't work out. How long is 100k going to last an OAP? Do the sums and show us otherwise it is just a wild claim.

If you are going to claim most vacant property is inherited you will want to provide proof that contradicts the Irish Times articles about vacant property. That showed the reason was primarily down to planning issues and that they were purchased properties.

The wild generalisations you use are way off and explain your very limited view of the population and property market. You weren't talking vacant property before as we specifically spoke about people living in the properties.

This is what you claimed

The tax being proposed was a tax on those owning property would be taxed to match up people on about 40k without a property to be matched up with somebody who owns a house

There is nothing in this thread that backs that up.

Wrt equity release : what are you struggling to understand? It's money that an OAP simply wouldn't have otherwise, they would be asset rich cash poor. Equity release allows them to be cash rich for their remaining year's rather than holding all this value in an asset (house) that they cannot utilise other than to give as an inheritance.

There's nothing more to "add up"

30% of the population living in Dublin does in fact confirm the majority of the population does not live in Dublin, as I said.

The person on the dole has disposable income of 200euro a week after social housing rent - to cover all food costs, bills, clothing, transport and any sort of social life.

And they have no prospect of a large income improvement. They're not getting a promotion.

The full time worker on 45k has more disposable income even at exactly that income, and will have far far more in the future as their career progresses. And actually has purpose to their life.

Again, the stats on this are really clear - if life long term on the dole was so much better than working then we'd have huge numbers of people doing just that. But instead our long term unemployment rate is 0.90%

Which would suggest that the only people who think life is easier on the dole are those who like to moan about it online, perhaps because they've chosen careers that they don't enjoy. Because they apparently aren't bothered to actually put their theory to the test anyway.

If you think those posts equate to your claim of

The tax being proposed was a tax on those owning property would be taxed to match up people on about 40k without a property to be matched up with somebody who owns a house

Then there is no reasoning with you. The difference is stark in what you claimed Vs what was actually said.

Gary, please enlighten me…. Should I not have voted? given all of the options here are appalling?

Completely agree.

Majority of the 45k earners don't rent a 2.1k apartment to themselves so this point isn't exactly relevant.

I'm on that 45k salary, that you find seem to find so pitiful, and with my partner (on a similar salary) and we bought our first house last year.

You're using extreme examples that is not indictive of the majority.

But the current ‘reward’ for getting around the eviction rules is relatively low as you can’t pump the rent up anyway (unless you materially renovate the property or leave it vacant for 2 years). This makes the reward for doing so potentially huge.

I agree with you on both counts but can’t foresee a world where, in Ireland a landlord can’t evict a tenant to either

1. Sell (or try to)
2. Use it themselves

As long as these two remain open this new system will absolutely be abused and on a much much wider scale than it currently is because the incentive becomes enormous.

No, I would just outright remove it (along with two suggestions from timmy)

Accept there would be absolute chaos for a while. Some real heartache stories of old people who had close to a free house for years now being faced with huge increases. But so be it, they go on the housing list like the next generation.

I don’t believe in price interference. It creates too much distortion and huge winners and losers. RPZs have been incredible for sitting tenants and disastrous for future tenants. That is allowed/encouraged to continue because the 70 year old with cheap rent is more ‘visible’ than the 24 year old who has nowhere to rent because the hypothetical apartment was never built.

Pain is coming eventually. It gets more painful the longer you leave it. Just not sure the government will have the stomach for it. But they’re seeing the whole system collapse with anpartment supply dropping remarkably and feel they have to act. Rock, hard place.

Pretty sure it is only immediate family but you wouldn't exaggerate would you?🙄

Why dont 45k workers in Dublin rent 2.1k apartments?

Congratulations on buying a house and I didnt call a 45k salary pitiful; it absolutley is not. Thats the whole premise of my point..