Well the housing minister said in July: “You’ll know that for 2020, the target was to deliver 11,167 social homes through the Build, Acquisitions and Leasing programmes combined,” O’Brien said.“
That’s a lot of government purchases/leases in the private market, directly competing with first time buyers, especially given how little dedicated social housing they’re building.
Basically, the government is the housing market now and they’re taxing/ will be taxing younger workers more and more to continue outbidding them for housing in the marketplace. Basically younger workers are funding their main competitor in the marketplace i.e. the government. Hard to win a bidding war against them IMO.
Link here: https://www.thejournal.ie/housing-mi...55602-Jul2020/
And while I do feel bad for first time buyers allot of the time... It has always been difficult to get on the property ladder... However, as I said earlier, there are some people wishing us into a property crash, because they think it's an opportunity for them... That's a short sighted view.
I do wonder to myself, when I hear coworkers complaining about no being able to afford their first house at the age of 35+, and then a minute later telling you how they are replacing their two year old car with the newer version that costs 35k each time... While they're playing on their latest model iPhone...
Yes it's difficult, but it can be done... Is it fair? Probably not... But if it's what you want, get on with it... Just get it done, however long it takes. If you want other things, then put resources into them.