Originally Posted by lainey_d_123
You don't seem to understand how supply and demand works.
There are far more people looking for housing than there is housing.
It's literally that simple.
The recession killed many factories and businesses that sustained local towns around Ireland. Endless examples of this.
All these workers, and all the people who depended on the workers wages for jobs now have no jobs.
So there's f*ck all work in rural Ireland. All people of working age are forced to move to cities for work and education. Massive influx.
To many, city life is better than country life, especially if you have no kids, so employers also move to cities to attract young workers, not back to the parishes in Carlow and Leitrim, which are empty anyways, so this fuels more migration.
At the same time, house building stopped for about 5 years. Then a bunch of new housing regulations were introduced. Then a bunch of rental regulations too, and a bunch of regulations from the Central Bank. In the long term these will be good, short term not so good.
As a result, there's f*ck all housing stock, it's more expensive to build a house, planning requirements are stricter and landlords are leaving the market in droves. People can't afford to buy so they rent. Pressure is massive and increased by government programs. Then you have vulture funds and speculators influencing conditions. Now people can't afford to rent.
All this is very general but IMO it's a good 30second explanation.
Also, it's mainly restricted to cities and their hinterland.
You could buy a street in Leitrim for the cost of a 3 bed semi in a nice part of Dublin, but who wants to live in Leitrim.