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Who are buying all the new houses?

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Comments

  • Registered Users, Registered Users 2, Paid Member Posts: 6,574 ✭✭✭straight


    Not in my case. I had 20% deposit in 2006 when I was 26. Had to jump through plenty hoops. Sending you a letter of pre approval and giving you money are conpletely different things. I'd say those mortgage calculators online will still give you approval in principal online. It means sweet FA.

    Only got an offer from ptsb and first active. Those lads sending letters were the likes of mbna or subprime crap. AIB wouldn't give me a mortgage back then. I have got 2 mortgages off them since and no problems apart from the usual.



  • Registered Users, Registered Users 2 Posts: 4,085 ✭✭✭Rocket_GD


    Now who's the one raving on?

    When you have to resort to insults you've lost the argument.



  • Registered Users, Registered Users 2, Paid Member Posts: 6,574 ✭✭✭straight




  • Registered Users, Registered Users 2 Posts: 4,085 ✭✭✭Rocket_GD


    From the person who went on a rambling rant and tells young people to stop complaining and just get over it and just get on with it when they own 2 properties?

    Yes, you've really devastated me. As I said when you have resort to insults you've lost the argument.



  • Registered Users, Registered Users 2, Paid Member Posts: 6,574 ✭✭✭straight


    You're too delicate, amazing what passes as an insult these days. It's a long time now since I only had two properties to be honest. Hard times taught me great lessons. That's why I like to help where I can.



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  • Registered Users, Registered Users 2 Posts: 4,085 ✭✭✭Rocket_GD


    No, I just prefer to have a discussion as an adult and not thrown out tropes, generlistaions and nonsense statements like "It's like trying to talk to boys barrett, a vegan or some other idealogue".

    For someone who claims to be so helpful you don't have much empathy to the issues other's face, insulting their intelligence because they're still living at home in their 30's when the figures show that this has become the norm in 2026 with the average first time buyer being around 35.

    What do you believe are the issues in the market that has caused this? Or is it just that younger people aren't "pulling themselves up by their bootstraps"?



  • Registered Users, Registered Users 2, Paid Member Posts: 6,574 ✭✭✭straight


    I already tried talking to ye lads as an adult. Didn't work, yer just all excuses. Ive no time for them myself. I explained how people leave school older, start work later, get married later, grow up later. Guess that answer didn't suit your narrative.



  • Registered Users, Registered Users 2 Posts: 4,085 ✭✭✭Rocket_GD


    You just kept repeating the generlisations and saying people basically just need to work harder, bragging about how many properties you own and being a saint of a landlord. Hardly the most cogent of arguments.

    Of course, it has nothing at all to do with average house costing 8X the industrial age these days when it was 4X back in the 80's.

    Just fyi, I bought a house in 2024 with my partner, yet I can still understand the serious issues and the tropes being trotted out are not the reasons.



  • Registered Users, Registered Users 2 Posts: 7,788 ✭✭✭timmyntc


    I had 0 deposit in my early 20s but my bank still wanted to lend to me just because I had a clear record of saving money and not pissing all my wages away on beer.

    That is nowhere near the scrutiny you get now, I'm no longer self employed, older, earn more, and have far more equity and yet getting another mortgage is painful in comparison to 20 years ago. It is much harder now



  • Registered Users, Registered Users 2, Paid Member Posts: 6,574 ✭✭✭straight


    That's not my experience. I was paye, self employed now. I guess older paye people are bound to find i harder to get long term credit



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  • Registered Users, Registered Users 2 Posts: 325 ✭✭MadeInKerry


    We went throguh a broker and just submitted the statements and letter from jobs once. Ended up having to gather more documents when we asked for an exemption, but overall it was a very easy process. Now if we went to each bank individually i think i would pull my hair out with doing that over and over. I recommend brokers for sure.



  • Registered Users, Registered Users 2 Posts: 2,054 ✭✭✭Stephen_Maturin


    Cheers for making my point for me, you’ve absolutely conformed to the caricatures above

    I purchased a house last year actually, with great difficulty despite herself and I being high earners. Huge amount of additional red tape, hoops to jump through and BS in general compared with years ago. Our parents were in disbelief at it all.

    And we are the lucky ones with the best chances - many of our peers will not be able to secure their own houses for years if at all. Low income workers have no chance.

    So despite also being a homeowner I’d like to see things improve, the market is beyond a disgrace.

    Try having a shred of empathy for your fellow countrymen.
    Although as a landlord I suppose people being desperate with the state of the market benefits you ultimately.



  • Registered Users, Registered Users 2 Posts: 25,111 ✭✭✭✭lawred2


    Or we create the conditions for Irish people to have children. Not many functioning Irish people will start families while living under their parent's roof.

    Immigration to solve our pension crisis. Jeez. That's an utterly bankrupt policy.



  • Registered Users, Registered Users 2, Paid Member Posts: 6,574 ✭✭✭straight


    I'd swear you didn't read any of my comments. Understandable really because I've never finished reading one of yours either tbh.

    I'm More than doing my part by renting out houses at half the market rate. The smart thing to do would be to sell up like the rest.



  • Registered Users, Registered Users 2 Posts: 2,054 ✭✭✭Stephen_Maturin


    Ha yeah right

    Odd that I’m not the only one with this same impression of you. Maybe reevaluate how you communicate with people.

    Off you go so



  • Registered Users, Registered Users 2 Posts: 22,385 ✭✭✭✭kneemos


    Days of large families is over. Declining birth rates all across the developed world housing crisis or not.

    Immigration is the only solution. Also we need them to fill the vacancies.



  • Registered Users, Registered Users 2 Posts: 67 ✭✭dairyedge2


    His just a sorry sob. I’m glad I’m been able to come to that conclusion on a different thread he share’s his wealth of knowledge and his equally unliked.



  • Registered Users, Registered Users 2, Paid Member Posts: 6,574 ✭✭✭straight


    So selfish of you to add to the housing crisis by buying one for yourself. Greedy backstard you are. Guess your just getting on with it like I advised. No point whinging amd moaning about avocados and Netflix, etc. Etc.



  • Registered Users, Registered Users 2 Posts: 4,085 ✭✭✭Rocket_GD


    So you say you try and discuss things like an adult but then admit to replying to posts that you don’t actually fully read?

    You also pick and choose the posts that you want to respond to that go against your narrative of “people just make excuses”.

    Do you think that the average cost of a house now being 8X the average industrial wage (double what it was in the 80’s) may be causing an issue for this generation to buy a house?
    Again, just in case you didn’t finish my last post, I bought in 2024 after plenty of saving, sacrifices and being damn lucky enough to live rent free in a house.



  • Registered Users, Registered Users 2 Posts: 2,054 ✭✭✭Stephen_Maturin


    Yep we managed to buy one and I can guarantee it took a lot more sweat, grit and pain than yours did. Even had a couple of avocados along the way would you believe.

    Sure it doesn’t matter anyway, you don’t care about any of your fellow citizen’s difficulties, you’re alright Jack 👍



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  • Registered Users, Registered Users 2, Paid Member Posts: 6,574 ✭✭✭straight


    The 80's is like 40 years ago. Completely different times in a Completely different country. Different lifestyles, one income families, etc. Like comparing apples a d avocados. Pointless sh1t talk imo.

    My father bought land in the 80's. Think interest rates were 13%. Not much point in comparing that to now. There was no money in the country as far as I'm informed. I was only young. Like under 10.



  • Registered Users, Registered Users 2 Posts: 37,707 ✭✭✭✭o1s1n
    Master of the Universe


    Have to remember that there were a lot more single income families in the 80s. Not always by choice.

    In practical terms, X4 the average industrial wage in the 80s is the same as X8 the average industrial wage of dual income households now (Which is the standard really for new buyers)

    Not that I think that's a good thing mind you, but I'm not sure it's really a valid comparison as it's a very different situation.

    Probably better to compare it to 2012/13 numbers where you still had mostly two income households buying but houses were almost half the price they are now.



  • Registered Users, Registered Users 2, Paid Member Posts: 6,574 ✭✭✭straight


    Ya, and you had to go through more sweat, grit and pain than me. Well done you. 🤣🤣😂

    You deserve all those avocados.



  • Registered Users, Registered Users 2, Paid Member Posts: 6,574 ✭✭✭straight


    Plus the houses in the 80's were an incomparable spec to now. 2012/2013 was the time to buy. Problem was that the economy was in the toilet and people didn't have the money.



  • Registered Users, Registered Users 2 Posts: 17,408 ✭✭✭✭Grayson


    The prices in 2013 were normal prices. We've become so used to property bubbles that we think those prices are normal.

    In 2008 the bubble burst. For a few years it was nearly impossible to buy but then things stabilised. The prices for renting and buying at that stage are in line with what they should be. But there seemed to be so many people who wanted the prices to go back up so they wouldn't be in negative equity. And the government let it.

    And here's the thing. If property prices were to drop by 30%, they'd be normal and we wouldn't actually be in a bubble. But the government can't actually encourage that. They can't have a huge number of people in negative equity.



  • Registered Users, Registered Users 2 Posts: 4,085 ✭✭✭Rocket_GD


    Yes it was, as was 20 years ago (timeframe you're using) why is that ok to use but not the 80's when the majority of the so called "boomers" bought their initial properties?

    No money in the country yet many couples on a single average income could buy a house.

    I know that there was and on a single income a couple could buy a house. That would practically be impossible in this day. So people who bought back then using the same tired tropes to complain about the younger generations who are struggling to purchase clearly aren't fully aware of the reality in 2026.



  • Registered Users, Registered Users 2, Paid Member Posts: 22,106 ✭✭✭✭Bass Reeves


    The prices from 2011-2015 were not normal prices. They were below the build price at the time. It was cheaper to buy then build a house. Some houses were sold for less than the materials it would cost to build them.

    This BS that the government or anyone else forced the price up because of negative equity is absurd. Intelligent money came into the market and bought up this property.

    We like @straight was under deep finiancial pressure from 2010 to 2014. We had significant borrowings because of a farm investment but we knuckled down and paid for it. From 2014 over the next 4 years we did up an old farm house and bought a small townhouse. Both cost approx 50k. Both are worth 150k plus now.

    Some people makes investment decisions, some go to the rugby world cup, some buy BMW's, some just flitter away money. Because they flitter it away in dribs a drabs of discretionary spending over 10+ years they cannot associate it with not affording a house.

    Back when prices started rising some started talking about buying a forever home wait a year or two. Many turned there noses up at apartments that were bought for the price of a car 30-50k in Limerick. I just wish I had a bit more capital back then.

    To make the most of life you have to get on with it.

    Slava Ukrainii



  • Registered Users, Registered Users 2 Posts: 5,746 ✭✭✭enricoh


    David McWilliams said a few months ago that the government is buying 80-85% of all new housing (excluding one offs in the countryside , which iirc is around 20% of homes built)

    In my opinion that 80-85% figure is totally unsustainable n doesn't sound like a thriving economy to me. Sounds like an economy totally addicted to handy corporation tax.



  • Registered Users, Registered Users 2, Paid Member Posts: 22,106 ✭✭✭✭Bass Reeves


    David McWilliams is incorrect. Of that was happening 85% of estates would be LA and affordable housing bodies which is not evident. DW makes his living by being controversial so I take what he says with a spoon of salt

    Post edited by Bass Reeves on

    Slava Ukrainii



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  • Registered Users, Registered Users 2 Posts: 1,555 ✭✭✭csirl


    In my area its close to 100% of new developments. He's right. Also, a very high % of second hand houses - especially executors sales - are being bought by local authorities.



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