oldyouth wrote: » IR£32,500 in 1986. To put it in to perspective, I was earning IR£11,500 per annum at the time
Wicklowrider wrote: » 1988. 26,000 punts. Average 3 bed semi. Nearly backed out of deal because I was worried about getting that deep in debt. 2 years before that a mate was left a house in Smithfield , an old council house with an outside toilet, he offered it to me for 3, 500 cash. Thats not a typo. I think back then an average worker could buy an average house in the Dublin area for aprx 2 years of his gross salary. If you had a secure factory job or something like that you could do a lot better. Something went seriously wrong
NZ_2014 wrote: » So you were earning 35.3% of the house value per year. So the rough equivalent would be somebody earning €50,000 per annum buying a house for about €140,000
dirtyden wrote: » It is crazy how things have changed. I bought a few years ago and I remember having a number of discussions with my dad about buying now compared to when he would have bought our old family house. Back than you would have needed at the very least quarter of the price up front in general, as well as having some serious security most likely provided by your parents house/farm/business versus the loan. But the average house price was as you have said somewhere between 2-4 times a decent annual income. Houses were cheaper and credit was more expensive but much harder access.
The Letheram wrote: » Built it on my own land. 4 bed two storey doing a lot of work myself. Carpenter by trade in a previous life. €145k mortgage at the time but prob put in another €60-80k myself. Built it in 05. 4 years roughly left on the millstone around my neck every month.
