Originally Posted by Last Stop
So this article went up on the independent today
From the headline you’d think that’s madness but when you read the article, the €102k is the combined household income to purchase the most expensive type of property. The cheapest ones can be bought with €70k combined income.
I’m sorry but to be able to buy a home a stones throw from a Luas line and almost within walking distance of O’Connell St on an income of €35k is pretty good going.
I also noticed they had a little dig at the developer Barta as they are being the co-living proposal which has nothing to do with this development.
There is no doubt that the housing crisis is exactly that a crisis but this sort of media bias does not help matters.
The estate is going to be heavily council.
This article only refers to 585 homes, of which 30 percent would be social.
Assuming 30 percent of the 800 are social, circa 266 social flats.
ALL of the full priced housing will be bought by BTL landlords, as nobody on high income will want to live in a 30 percent social estate, no matter what its location. 2500 a month, bunk bed city, 10 Brazillians to a flat.
The only young couples interested in buying the "affordable" homes will surely be from the area. Are there many young people fron the north IC, hard working people both working, with 42k savings and over 100k income?
There wouldn't be.
I can see the affordable homes becoming, well, affordable, once they figure out nobody is going to pay such an extortionate rate to live in O'Devaney Gardens.
As an aside point, have you ever actually met a Dub who bought and lives in the likes of the IFSC, Grand Canal Dock, Smithfield, or any of the other "luxury" developments around town?
I haven't. Irish people don't like apartment living, simple as.