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08-02-2020, 22:16   #691
riclad
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A house is a place to live, it should not be regarded as an investment,
you,ll probably live there for 20 years plus.
At least you wont be under the control of a landlord.
most landlords pay 40 per cent tax on rental income.
I do,nt think it makes sense to borrow 100-200k to buy a house to rent out.
when the government and fianna fail announces 20-30k for first time buyers ,
the usual result is make house prices rise .
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08-02-2020, 23:17   #692
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Just buying a new build this month - honestly the rent we are paying out is insane (€1750 for ****ty 3 bed in Naas - landlord is in Australia) vs what we will be paying in a mortgage (<€1200 per month for 4 bed A rated home).

Even if prices do drop a good bit, it would have to be a serious drop for it to make economic sense for our family to keep renting. Whether it will be a good long term investment- we’ve no idea but we are honestly so glad to have a secure roof over our heads I’m not sure it matters.
Less than 1200 seems very reasonable for a Gaf. Can you tell us your mortgage term and amount borrowed?
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08-02-2020, 23:31   #693
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Don't worry about the investment side of things. The main questions are whether you would be happy to still be living there in 10 years time, and think you can afford the repayments.
The situation you want to avoid is where you have bought a property to get a step on the property ladder in the eventual hope of a trade-up only to see property prices drop and be stuck in negative equity.
Or, where a recession hits and someone loses jobs \ salary.
Definitely not a step on the ladder - it’s a family home for us, we won’t be selling until we are old and grey hopefully
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09-02-2020, 13:09   #694
 
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The Currency reporting that the median homeowner is 46 times wealthier than the median renter. The election results have clearly shown the inequality in Irish society caused by property is no longer sustainable. While the political situation will likely take months to resolve in order to get a government, I wonder will we see a lot more properties coming onto the market soon as homeowners who have been sitting on their price increase with half a view to sell now fearing the election result and the rise of SF?
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09-02-2020, 13:16   #695
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The Currency reporting that the median homeowner is 46 times wealthier than the median renter. The election results have clearly shown the inequality in Irish society caused by property is no longer sustainable. While the political situation will likely take months to resolve in order to get a government, I wonder will we see a lot more properties coming onto the market soon as homeowners who have been sitting on their price increase with half a view to sell now fearing the election result and the rise of SF?

Likely housing will only get worse. Landlords will sell up even more now.
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09-02-2020, 13:43   #696
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I wonder will we see a lot more properties coming onto the market soon as homeowners who have been sitting on their price increase with half a view to sell now fearing the election result and the rise of SF?
Probably. Also, foreign/investors may leave the market (some were prevented from cashing out last week). Rocky roads ahead both here and abroad in the coming weeks...
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09-02-2020, 13:48   #697
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Probably. Also, foreign/investors may leave the market (some were prevented from cashing out last week). Rocky roads ahead both here and abroad in the coming weeks...
They have a max 33-34 TDs out of 160- I wouldn't be running scared just yet.
I still think we'll end up with a hung Dáil and will be back at the ballot box again within 3-4 months- and hopefully people will have thought of some other way of protesting, other than giving SF their vote- thats just me though. You can protest without voting FF, FG or SF.......

I think the whole rent freeze threat and the prospects of actually taxing the REITs etc- will have some of the institutional investors reassessing their positions- however, that may be wishful thinking.

One way or the other- whatever is coming down the line is going to be several months in the future, rather than mere weeks.
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09-02-2020, 14:22   #698
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They have a max 33-34 TDs out of 160- I wouldn't be running scared just yet.
I still think we'll end up with a hung Dáil and will be back at the ballot box again within 3-4 months- and hopefully people will have thought of some other way of protesting, other than giving SF their vote- thats just me though. You can protest without voting FF, FG or SF.......

I think the whole rent freeze threat and the prospects of actually taxing the REITs etc- will have some of the institutional investors reassessing their positions- however, that may be wishful thinking.

One way or the other- whatever is coming down the line is going to be several months in the future, rather than mere weeks.
If SF had put up enough candidates I think it’s clear they would’ve formed the government and Mary Lou would be Taoiseach elect. FG and FF are incredibly out of touch and aloof. Unsurprisingly since most of them are landlord millionaires. They come across as sneering and arrogant and they have no will to tackle the housing crisis as that would impact their bottom line. People are fed up with their elitism. I think. SF cabinet is now just a matter of time.
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09-02-2020, 16:41   #699
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If SF had put up enough candidates I think it’s clear they would’ve formed the government and Mary Lou would be Taoiseach elect. FG and FF are incredibly out of touch and aloof. Unsurprisingly since most of them are landlord millionaires. They come across as sneering and arrogant and they have no will to tackle the housing crisis as that would impact their bottom line. People are fed up with their elitism. I think. SF cabinet is now just a matter of time.
The left vote is still only 38%.

There’s no way a government can be formed without FFG and the non left Independents.
Still stand by it, there wont be more than 20-25k housing completions pa. no matter who is in government.
Every left party/government in Europe has failed (Hollande in France, Syriza, fivestar Italy) once in power. People severly underestimate the importance of capital flows. It’s called MONETARISM for a reason.
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09-02-2020, 17:09   #700
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I suspect it would be prudent to procure a copy of SF Eoin O'Broin's book 'Home: Why Public Housing is the Answer' to better familiarise ourselves with what might be coming down the tracks.........
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09-02-2020, 17:12   #701
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also might be interesting to see someone with an actual knowledge of housing possibly being the minister responsible for it! Would be an interesting read to see what we could be in store for if a FF/SF coalition comes to pass
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09-02-2020, 17:28   #702
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I suspect it would be prudent to procure a copy of SF Eoin O'Broin's book 'Home: Why Public Housing is the Answer' to better familiarise ourselves with what might be coming down the tracks.........
65 copies available through the public libraries - can order in from any branch online and collect in your local library if you're a member:
https://librariesireland.iii.com/iii...d/C__Rb4983783
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09-02-2020, 18:20   #703
 
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I suspect it would be prudent to procure a copy of SF Eoin O'Broin's book 'Home: Why Public Housing is the Answer' to better familiarise ourselves with what might be coming down the tracks.........
IT review;

"His mindset is of classic social democracy, respectful of markets, insistent on the need for State intervention, and willing to trawl through and weigh up the often uncertain lessons of policy experiment and academic analysis to work out what shape the market-State combination should take in Ireland’s housing system today. The result is a sober, thoughtful and complex read, justifiably so since no simple formula for success jumps out of history or current international experience."

5.99 on kindle, I just bought it there to give it a read (FG voter 1 and 2 myself but no strong party allegiances).
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09-02-2020, 19:36   #704
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I have a feeling the coronavirus will take its toll on global economy in the middle/long run, the property market may stall if fear start to spread in Europe and Ireland that way it has in Eastern Asia
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09-02-2020, 19:41   #705
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I have a feeling the coronavirus will take its toll on global economy in the middle/long run, the property market may stall if fear start to spread in Europe and Ireland that way it has in Eastern Asia
Fiat/Chrysler are closing down a factory tomorrow due to lack of parts- and Peugeot (incl. Opel) are going on short hours to preserve supplies of some parts which are beginning to become constrained.

The defacto shutdown of China- is already affecting European communities- and its effects are only going to be magnified, the longer the shutdown continues.

We have had 15 negative test results and 3 that the HSE haven't announced, here in Ireland. There is a degree of inevitability that it is going to make an appearance here- its a matter of when, not if. When it makes an appearance- it is far more communicable than SARS or other viruses- even if its pathology is not as dangerous (it has a mortality rate of approx. 3%).

We're very much in the calm before the storm.
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