nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

Child Item

Who are buying all the new houses?

littlefeet

The narrative is that young people are locked out of the housing market and are emigrating, no jobs or no jobs in the area they want to work in that's not clear. I know young people in their 30s who have purchased houses, 2 couples, 2 and single people, they all report lots of other in their 30s are their neighbors normal average people with normal jobs, so what's going on?

Find more posts tagged with

Quick Links

Comments

littlefeet

https://www.boards.ie/discussion/comment/124443322#Comment_124443322

Related to this, David McWilliam has an article in Saturday's Irish Times on elite overproduction, which is interesting.

littlefeet

https://www.boards.ie/discussion/comment/124442929#Comment_124442929

A proper fix might be very unpalatable its wouldnt be just lowering the value of existing property, it would be lower levels of consumption, lower levels of comfort, and expectations of life and lifestyle.

Wanderer78

https://www.boards.ie/discussion/comment/124443396#Comment_124443396

our current approach will very likely lead to lower life expectancy, due to the prolonged stress and distress being induced, theres no need to be going all out and lowering standards of living

bored65

https://www.boards.ie/discussion/comment/124443377#Comment_124443377

David trying to pass himself off as a man of the people who doesn’t teach in the elite Irish university or rack up more air miles in a year than most of us in a lifetime is the height of irony there

littlefeet

https://www.boards.ie/discussion/comment/124443516#Comment_124443516

Have you read the article?

greyday

https://www.boards.ie/discussion/comment/124443396#Comment_124443396

Expand please, we are already an expensive Country,lowering house prices leaves more money to be spent in the Economy most likely pushing up prices of everything else,

A drop in consumption is surely accompanied by a drop in wages which is unlikely to happen as long as American companies stay here in numbers we currently have.

littlefeet

https://www.boards.ie/discussion/comment/124443544#Comment_124443544

I would, but it's very difficult to summarise, and I might be seen as a crank.

greyday

https://www.boards.ie/discussion/comment/124443590#Comment_124443590

If there is substance to your theory, we can all debate rather than resorting to calling others cranks.

littlefeet

https://www.boards.ie/discussion/comment/124443599#Comment_124443599

I will link some evidence-based information on the topic later.

CatLick

We could construct more modular type houses. These are typically built in sections off site and more suitable to unskilled or semi skilled labour. Like the Model T or Sherman tank of housing. Unfortunately they can look a bit industrial which I guess would put off a lot of people. And we d need to commit to buying 10s of thousands which would put off our more conservative civil servant.

kneemos

https://www.boards.ie/discussion/comment/124443674#Comment_124443674

Like these? Hideous. There's a new estate round the corner that is predominantly timber frame. They fly up, literally appear overnight. Attractive looking properties too.

https://www.thepodfactory.ie/modular-homes-ireland/

greyday

https://www.boards.ie/discussion/comment/124443674#Comment_124443674

The last I heard of these was that they cost over 300k when completed, might be good to save time but are not value for money in my opinion.

littlefeet

https://www.boards.ie/discussion/comment/124442929#Comment_124442929

How come no one spots the narrative, subsidies to approved housing bodies = good, subsidies to private landlords = bad, it is a point though.

littlefeet

https://www.boards.ie/discussion/comment/124443634#Comment_124443634

I can't find the article, but to sum up, choices have to be made between this and that; everyone can't have a 3-bed semi with a front and back garden room for two cars, A-rated, etc, The world, let alone Ireland, doesn't have the resources. That means that compromises would have to be made to provide housing for all who need it.

It a bit like someone coming back from Germany and saying the public transport is fantastic, why can't we have the same, but neglecting to mention that the vast majority in the German city live in apartments, including families.

greyday

https://www.boards.ie/discussion/comment/124443960#Comment_124443960

The cultures are completely different, would you like to live in an apartment block with some Irish undesirables?
When we tried it previously, they became crime hubs, even now with proper housing we have no go areas, I can imagine apartment blocks would be even worse.

littlefeet

https://www.boards.ie/discussion/comment/124444005#Comment_124444005

Of course, but it's not possible to ask why can't we as a society be like x country without looking at the whole of society in x country.

kneemos

https://www.boards.ie/discussion/comment/124444005#Comment_124444005

Apartment blocks in the past were specifically built as low cost housing/ council properties,hence the outcome. Any new estate these days has to have a mix of apartments and houses.

greyday

https://www.boards.ie/discussion/comment/124444068#Comment_124444068

My money says we would have one or two bad apples in a lot of blocks making everyone else’s life hell and there would be nothing done about it.

Bass Reeves

https://www.boards.ie/discussion/comment/124443821#Comment_124443821

The article if submitted as a transition year economics project would recieve a D-. I read to the bit where she describes HAP as bad value to the state and is on about its costing 4 billion since 2014 with the state owning nothing.

Say for the last 11 years the state spend the money on building houses. At 250k/unit 16k houses would be build. At 300k per unit 13,333 houses would be build. Over that timescale HAP has probably subsidised housing on average for 50k households a year. At present there are over 70k household being subsidised by HAP.

The local authorities and the government have no maintenance, the LL is responsable for all the rent collection inc the porportion the LA recieves. He must maintain the property to the rental standards. In 2014 the average maintenance cost per LA unit was 1650 approx ( I cannot get a more up to date costing) I imagine its twice that now.

If we average the maintenance over the last 11 years at 2200 per unit per year for 50k units for 11 years its 1.2 billion. Take that away from 4 billion and you are left with less than 3 billion of a net cost.

HAP is the greatest money saver to the government that was ever put in place.

littlefeet

https://www.boards.ie/discussion/comment/124444395#Comment_124444395

Its the rise of left wing populism as the answer.

thenuisance

https://www.boards.ie/discussion/comment/124444395#Comment_124444395

However 4 billion worth of houses would now be owned by the state - I think that makes a considerable difference. They would be available for multiple generations to rent. The stock could be used to help the mix of private and public housing by selling/renting into the private sector and re-investing the funds in public housing if required - although the political failures of the 1970s when the stock was sold and not replace have left us with the consequences that we now have to deal with - definite D- for that

ELM327

https://www.boards.ie/discussion/comment/124443960#Comment_124443960

We can't buy houses anymore, it's simple supply and demand. Germans rent long term, we simply don't have that.

I saw this video which I actually agree with, sums it up well.

https://www.youtube.com/watch?v=PKXE_0TVDpI

tom1ie

https://www.boards.ie/discussion/comment/124444395#Comment_124444395

HAP is the artificial floor for the rental market.

Bass Reeves

https://www.boards.ie/discussion/comment/124445297#Comment_124445297

And what about the other 60 odd thousand at present dependent on HAP support for there housing needs. And that is if you had the 4 billion spend on housing. Give LA tenants a 20 year average tenancy period would 10-15% of those houses need an average refurbishment by now. Average refurbishment costs are 12500ish ( and that figure is from a few years ago. If 1500ish of those houses needed refurbishment that is 20 million approx. And that is not the true figure. Where refurbishments go above a certain costs they are taken out of the capital budget. Finally if a LA house becomes vacant the Verage period between lettings is nearly 2 years.

LA have a serious rental default issue. Some tenants have not paid in ten years. HAP payments to LL have not significantly increased in ten years

https://www.boards.ie/discussion/comment/124445396#Comment_124445396

This is an urban legend. Hap makes up about 25-30% of the rental pool and that is probably excluding student accomodation. Supply is and has been dictating price for the last ten years. Most HAP tenants are making up 20-50% of the rent paid to LL's

Greyfox

https://www.boards.ie/discussion/comment/124444134#Comment_124444134

Same thing happens with houses, in almost all working class housing estates theres bad apples. The fact is as a country we need more houses AND more apartments. There are apartment complexes in Ireland that are very safe

tom1ie

https://www.boards.ie/discussion/comment/124445737#Comment_124445737

So what would happen to the price of rent if HAP was taken away?

Would rents drop due to the HAP tenants no longer being able to afford the rent?

If you increase HAP, rent will increase, like the way if you increase solar grants, the price of a solar install increases.

Bass Reeves

https://www.boards.ie/discussion/comment/124445776#Comment_124445776

Highly unlikly rents will fall there would be about 30-50k contract terminations. not sure rents would rise significanty. Alot of HAP tenancies are 5+ years old, LL are tied to contracts and can only rise rents by 2% or less. A lot of long term rents are 20-50% of new rents or even less.

tom1ie

https://www.boards.ie/discussion/comment/124446290#Comment_124446290

So let’s imagine the 30-50k are evicted that would mean the LL would have 0 income from the property correct?

Bass Reeves

https://www.boards.ie/discussion/comment/124446465#Comment_124446465

A lot of HAP properties are 30-50% below actual maximum rent. My one is about 30%. Unless the tenant could make up the difference. A LL would be as well off getting vacant posession and checking the market.

The larger LL's who have multipe properties which are nearly always the most expensive would also be looking at vacant posession for non payment of rent. They would probably take a hit on the yield most smaller LL's would not.

However the government or any government is unlikly to make such a decision.n

vswr

Just back from the immigration thread, and according to them, it's all the refugees and asylum seekers taking all the houses.