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Inside Dublin’s Housing Crisis

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Comments

  • Registered Users, Registered Users 2 Posts: 12,605 ✭✭✭✭Flinty997




  • Registered Users Posts: 4,138 ✭✭✭realitykeeper


    Seems to me like you don't pay attention or anything else.. Children got the 200 billion euro bill. Property owners got the 200 billion.



  • Registered Users, Registered Users 2 Posts: 12,605 ✭✭✭✭Flinty997


    Reality might not be what it seems to be for some people.

    Don't remember anyone I know or myself getting a bill. What form was this bill.



  • Registered Users, Registered Users 2 Posts: 4,029 ✭✭✭spaceHopper


    I think reality is their problems they can't quite get the hang of it.



  • Registered Users Posts: 170 ✭✭JCN12


    Salient post.

    Though, I do feel it's no harder to buy a house now for a young couple than say back in the mid 20 century.

    For example, I know one young conservative / Christian couple in their early 30s really well who bought a 3 bed late 90s house in the last 6 months on the commuter belt. They had a budget wedding in 2020 pre Covid, paying the costs out of their salary every month as they went along so as to not dip into their savings.

    They then moved into one of their parents homes, and saved as much as they could. The husband drove/ drives an old car, and has repaired it several times when it broke on freezing cold days outside during winter, whilst the wife was/ is a stay at home mom. During that time they didn't delay starting a family and now have two children.

    When the house sale closed in March, the husband (who is not a tradey) fitted a budget IKEA kitchen after work/ on weekends as the old one was beyond repair. The rest of the house has needed work too, but he has been continuing to chip away at it on evenings & weekends.

    They do not earn the big bucks you hear about on this forum, in fact I believe they earn a little below the median income. Nor, do they impose themselves on family or the state to take responsibility for their children.

    It seems most young people are so caught up with indulgences and instant gratification, that they cannot see the wood for the trees. Perhaps it is the lack of a greater purpose in the end. 🤔



  • Registered Users, Registered Users 2 Posts: 3,796 ✭✭✭RichardAnd


    I would disagree (respectfully) that buying a house today is the same as it was in the 1950s. As has been shown many times before, the average house price relative to the average wage is not the same as it was in the past. Beyond that, it was possible to raise a family on a single income from a very average job back then. That simply isn't the case today.

    Were things a cake-walk in the mid-20th century? Absolutely not, but it's my opinion that it was easier to settle and start a family.

    "It seems most young people are so caught up with indulgences and instant gratification, that they cannot see the wood for the trees. Perhaps it is the lack of a greater purpose in the end. 🤔"

    It's not just young people....



  • Registered Users, Registered Users 2 Posts: 3,796 ✭✭✭RichardAnd


    I've heard of women with kids who had to wait a decade for a place, and that was years ago. A single man is not going to get anything.

    That said, if I had the option of having a social house/apartment for a song, I'd probably take it. Mind you, everyone I know who has one seems to do nothing but complain. Hmm



  • Registered Users Posts: 170 ✭✭JCN12


    True, not just young people caught up in such endeavours.

    Socially it was the more accepted route to settle down and start a family, which in itself made it easier to find a wife / husband with similar values etc in Ireland. I know conservative men sometimes need to look abroad to often find a spouse with more traditional/ family values for example (passport bros.), so yes much tougher on that front.

    In terms of finances, I would say it is still easier now. Like in the example I gave, it all comes down to the financial decisions you make in life, even before one meets his spouse and ultimately the willingness to perceiver and take the challenge with both hands.

    Raising a family with one modest income is clearly possible, but one needs to be very careful with debt. In Dublin, probably not, but again choosing to live in the big cheese is a decision ultimately.

    Lest we not forget, back in our grandparents time, it was tremendously difficult to get a loan/ mortgage if you worked with farmers who were amongst the biggest employers. No first time buyer grants and very little social welfare.

    They worked very long hard hours, and often you weren't sure what day you might get paid. A 'good job' was in a factory, but that came at a personal cost too. Bicycles needed to be bought on a HP basis or similar to get to and from work, of which the journey could be quite long. Cottages usually needed to be fixed up when a young couple finally bought.

    The budget wasn't there for much recreational expense or gadgetry.

    I just don't see our generation making the sacrifices. I don't see the majority of men stepping up to the plate to lead their families. I see men hiding behind feminist ideology to dodge responsibility for the most part.



  • Registered Users, Registered Users 2 Posts: 3,796 ✭✭✭RichardAnd


    Funny, one of my former MMA sparring buddies went to Brazil to get himself a "trad wife", as they say. She seems very nice, so I hope it works out. Personally, however, I've seen too many good men ruined by bad marriages. If I wanted to sign a marriage contract I'd just cut to the chase. That is, I'd find a harridan and give her my house. :D. I guess that makes me "blackpilled", as they say in that community.



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  • Registered Users, Registered Users 2 Posts: 3,968 ✭✭✭BlueSkyDreams


    A good example of a couple dedicated to male things work and fair play to them. But they are perhaps an outlier in their approach.

    A reasonable barometer of housing accessibility would be to compare the average house price as a multiple of the average income.

    If the average full time income today is 45k and the average house price is 360k, we have a multiple of 8.

    I dont know what the multiple was in the 1950s?



  • Registered Users Posts: 2,066 ✭✭✭HerrKuehn


    Well, the obvious retort is that we have more than one worker in a household now and the unemployment rate is much lower now than in the 50s. We don't have the same level of emigration, rather we have migrants coming here. If you were going to compare, it would be best to compare household incomes, working and unemployed, but you would still be left with the increased demand due to migration.

    Added to that you can't really compare houses in the 50s to houses now, they were concrete shells with single glazed windows and no heating system.



  • Registered Users Posts: 625 ✭✭✭Cal4567


    My advice. Get out of Dublin, although I appreciate that may not be that easy for some. But if you can, do it.

    Lose the 'I don't want to live so far away from friends and family' tag. These are decisions some have to make, as many previous generations did, but it was London or Boston or Brisbane then, not Limerick or Galway. If you want to aspire to home ownership, this may be your best option.

    In 20 years time, people will start to say 'sure, weren't we very Dublin centric, back in the day?'



  • Registered Users Posts: 2,066 ✭✭✭HerrKuehn


    A lot of people regretted moving from Dublin to Gorey during the bubble. Nothing wrong with Gorey, it is a nice town, but it is quite far away from family and friends.



  • Registered Users, Registered Users 2 Posts: 12,605 ✭✭✭✭Flinty997



    Not as far as some remote place in the world, on the other side of the planet.

    People don't have a "right" to afford to live where they grew up.



  • Registered Users Posts: 2,066 ✭✭✭HerrKuehn


    I didn't say they did, they can rent nearer Dublin if they want. Just pointing out that there are downsides to moving so far out, not least in fuel costs etc. I wouldn't even think about the cost of fuel as we drive so little. We didn't have to compromise thankfully.



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  • Registered Users, Registered Users 2 Posts: 3,796 ✭✭✭RichardAnd


    They don't have a right, no. However, communities develop because the same people live in the same place for a long time. When people move away, communities fall apart, and you get what we have today; atomisation and hyper individuality. Furthermore, as someone who did just that, watching investors or investment funds buy up property whilst the state simultaneously encourages gruesome levels of immigration is a very, very bitter pill to swallow. None of this is good for society in the long run.



  • Registered Users, Registered Users 2 Posts: 1,279 ✭✭✭The Student


    Using that analogy cities would never expand. You would think we are asking people to move hundreds of miles away from where they were brought up. The vast majority of people have at least one car in the household and those that don't have access to public transport.



  • Registered Users, Registered Users 2 Posts: 3,796 ✭✭✭RichardAnd


    Speaking as someone who moved a lot as a child, I can tell you that even a short distance can be a lot. My family moved from Dublin to Clare, and I lose all friends that I had and rarely saw my grandparents and other relatives. It was mentally very taxing, and as someone who suffers badly from depression, it was deleterious for me.

    In the past, people rarely moved far from where they grew up. Doing otherwise on a large scale is a recent development. Yes, one can stay in touch over email and skype, but as we learned during the last few years, that's all rather hollow. Humans aren't really wired to live like that, and we really don't know what the long term consequences will be. I'm not personally very optimistic, but I'm willing to accept that I could be mistaken.



  • Registered Users, Registered Users 2 Posts: 12,605 ✭✭✭✭Flinty997


    Totally agree. But in the end it comes down to money.



  • Registered Users, Registered Users 2 Posts: 12,605 ✭✭✭✭Flinty997


    I think there's a lot more compromises than just buying a car.

    That said recent generations are oddly reluctant to move.



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  • Registered Users, Registered Users 2 Posts: 12,605 ✭✭✭✭Flinty997


    In Ireland emigration is not recent development.

    I do agree it's not ideal for many people. But equally for some people it's gives them opportunities and experiences they'd never get here.



  • Registered Users, Registered Users 2 Posts: 12,618 ✭✭✭✭mariaalice


    New communities are formed all the time, have you ever been to https://14henriettastreet.ie/ families moved from the tenements to new housing, and new communities were formed.



  • Registered Users, Registered Users 2 Posts: 12,605 ✭✭✭✭Flinty997



    You can't instantly replicate the community and friendships you build over time. We are not robots :)



  • Registered Users, Registered Users 2 Posts: 12,618 ✭✭✭✭mariaalice




  • Registered Users Posts: 4,138 ✭✭✭realitykeeper


    It is in the form of house price inflation and to a lesser extent, general inflation. I'm surprised you didn't know that.



  • Registered Users, Registered Users 2 Posts: 12,605 ✭✭✭✭Flinty997


    But everyone pays that not just recent generations as you implied.



  • Registered Users, Registered Users 2 Posts: 3,796 ✭✭✭RichardAnd


    It's on my list to visit some time! However, in the case of the tenement clearances, very often the same people moved to the new housing together. Ergo, they had the same people around them. This CAN indeed preserve a community, but I was talking about individuals or families moving away to totally new areas.

    Incidentally, if anyone wants to read an excellent book on the tenements, I recommend this:




  • Registered Users, Registered Users 2 Posts: 12,605 ✭✭✭✭Flinty997


    Problem with a lot of places these days they have no community. It's just not as easy as you suggest. I'm not saying it doesn't or can't happen. Obviously it does.



  • Registered Users, Registered Users 2 Posts: 12,618 ✭✭✭✭mariaalice


    Communities are built of shared interests, anything a sports team, gardening, schools, any thing and everything. They evelove. It's a very romantic and nostalgic view of community to think otherwise.



  • Registered Users, Registered Users 2 Posts: 1,279 ✭✭✭The Student


    I grew up in the 70's and moved to an area that had nothing. No school, shops nothing at all. The community grew out of necessity.

    Men in the area set up football, GAA clubs, summer projects etc.

    We got to know each other through these. Unfortunately I think people don't actually want to work for these rather they want a ready made community.



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  • Registered Users, Registered Users 2 Posts: 12,618 ✭✭✭✭mariaalice


    I think it is more that some people think the community will solve all the problems of loneliness, mental health issues, and social issues it doesn't really work like that.



  • Registered Users, Registered Users 2 Posts: 12,605 ✭✭✭✭Flinty997


    I think thats being very dismissive of communities, how hard they are to establish, and access especially for older people. That was the comment about older people down sizing, and inefficient use of housing space. Way to feel needed.



  • Registered Users, Registered Users 2 Posts: 3,968 ✭✭✭BlueSkyDreams


    Were average house prices 4 times the average salary in the 50s?

    The other points arent relevant as the demand for housing influences the average price.



  • Posts: 0 [Deleted User]


    If accommodation such as hotels, B+B, including airBnB was more affordable and plentiful in Dublin, it would help alleviate the missing out feeling. People could reguarly stay in this accomdation after concerts, matches, communions etc.



  • Registered Users Posts: 2,066 ✭✭✭HerrKuehn


    So, increase temporary accommodation in Dublin so that people can move out to Gorey and stay in AirBnB when visiting Dublin for gigs? Are you being serious or having a laugh? Do you think your plan might have an impact on available permanent accommodation in Dublin?

    Anyway, I was more thinking about visiting friends and relatives, say on a weekly basis or whatever.



  • Registered Users Posts: 4,138 ✭✭✭realitykeeper


    The national debt went from 40 billion to 240 billion in just the few years following 2008 and it was done to re-inflate the property bubble. Having done so, FG want to pull up the ladder and leave the young to service the 200 billion euro debt. Surely it is the people who over-borrowed in the naughties and couldn`t pay their debts before that stimulus kicked in are the people who need to repay that 200 billion. The young people were school children at the time.

    Since interest rates started rising, it seems to be having the effect of the national debt falling although at a very slow pace. By contrast, asset bubbles in housing and equities fall quickly when their time comes. At the rate we are going we will still ave a lot of debt when that happens.



  • Registered Users, Registered Users 2 Posts: 3,796 ✭✭✭RichardAnd


    I don't disagree, but this line caught my eye:

    "Having done so, FG want to pull up the ladder and leave the young to service the 200 billion euro debt."

    I think the idea that anything would have been different if FF, SF or any other party had been in power. No political party beyond the fringes has anything other than some flavour of neo-liberalism to offer, along with smatterings of bizarre ideology, rainbow flags and mass immigration.

    I ask myself why we consistently elect governments and have a state bureaucracy replete with worthless individuals, lunatics and Machiavellians, but then what is it that adage has to say about a country getting the government that it deserves?



  • Registered Users, Registered Users 2 Posts: 29,903 ✭✭✭✭Wanderer78


    yea western political and economic ideologies are effectively stuck in this thinking, so we ve decided, lets go to the extremes to balance all of this, this should be fun!



  • Registered Users, Registered Users 2 Posts: 3,796 ✭✭✭RichardAnd


    I always wondered what Mad Max would have been like if it were to have taken place in Ireland:

    Mad Mick 3: Beyond Cavan.



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  • Registered Users Posts: 2,066 ✭✭✭HerrKuehn


    The 200bn was not spent to inflate the property bubble. I have no idea where this ridiculous idea comes from. Tax take was down for obvious reasons with 16% unemployment and the collapse in the property sector which was 20% of the economy. The government could have decided to have mass layoffs and serious salary cuts in the PS, massively reduce welfare, i.e. proper austerity, not 200bn fueled austerity-lite, but there would have been a serious cost to individuals and society if they did that.



  • Registered Users, Registered Users 2 Posts: 29,903 ✭✭✭✭Wanderer78


    ...only that austerity is well known, and also well researched, and from respected sources, to cause serious long term social problems.....

    ...again, the root causes of the 08 crash was ultimately based in whats generally called neoliberal based polices that have been implemented globally over the last few decades, which has lead to widescale financialsation of our economies, in particular in relation to our property markets, whos main aim is simply to inflate, and continually re-inflate the value of these assets. such polices only truly benefit those that own such assets, primarily older generations, but directly damages non asset owners, i.e. primarily younger generations....

    ...so we better embrace the long term sh1t show its now creating such as the rise of the extremes, and the de-stabilising effects this is having on our economies and societies that this is causing!



  • Registered Users, Registered Users 2 Posts: 12,605 ✭✭✭✭Flinty997




  • Registered Users, Registered Users 2 Posts: 3,796 ✭✭✭RichardAnd


    That money was borrowed (or more correctly, "printed") to prop up an enormously inflated state that came to be due to years of horrifically irresponsible spending during the Celtic Tiger years. In 2008, we could have either made cuts to bring things under control, or we could have kicked the can down to younger people to worry about. Older generations made the decision, and I doubt that most people even paused to consider what they were doing or even cared. Thus, you are correct that the 200 billion was not borrowed directly to inflate a property market. However, it indirectly did just that.

    What's the solution to this? I don't have one, and I actually believe that there is no real coming back from this.



  • Registered Users Posts: 2,066 ✭✭✭HerrKuehn


    We could have borrowed say 300 bn and not had any cuts at all. But then future generations would be paying more interest on the borrowing. The fact is we were living off the proceeds of a massive property bubble, with bench marking inflating PS salaries, along with normal inflation based increases. Basically, the standard of living we thought we had was unsustainable. It would have been better to invest the proceeds of the bubble and use it to build infrastructure after the bubble popped, but this would require a bit of knowledge and foresight, things that are in short supply with our politicians.



  • Registered Users Posts: 2,066 ✭✭✭HerrKuehn


    Also worth pointing out that the "young people" didn't condense from the ether in the last decade. They would have been children at the time of the bust and if we went with the austerity MAX approach, we would have been laying off their parents and cutting the dole. They would have been surviving on feck all in misery. So it isn't as if they didn't benefit from the borrowing, that is just disingenuous to suggest. It is quite possible that the approach taken was the best in that unemployment was reigned in, the young people were not growing up in LWI households which is shown to have long term damaging effects. Maybe there wasn't an easy solution to get from decimated construction sector after the bubble, to being able to match demand in demand in the last years, particularly with population growth.

    It seems you are quite annoyed about things, but you freely admit you could have bought something earlier but were unwilling to take the plunge. There is no point where everything looks perfect, you only know that in hindsight and have to take risks. It isn't up to others to advise you on that either.



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  • Registered Users, Registered Users 2 Posts: 12,605 ✭✭✭✭Flinty997


    If the older generations made the decisions of the past. That implies it's younger generations making decisions of today. So all the problems today are caused by the younger current generations.

    Go fix it.



  • Registered Users, Registered Users 2 Posts: 1,243 ✭✭✭DataDude


    The rhetoric repeated here that money was printed/borrowed post 08 to inflate/maintain the property bubble seems directly at odds with the fact that Ireland had one of (if not the) largest peak to trough of property values in the 5 years that followed 2008.

    As our national debt grew rapidly. Our property prices fell more than almost any country in history.

    Our national debt then began to shrink in 2013 (until 2020) which is precisely when property prices began to grow again.



  • Registered Users Posts: 4,138 ✭✭✭realitykeeper


    I absolutely agree. FF (apart from it's pre 2008 toxicity) have the same selfish policies as FG and SF in a way is even worse because they seem to think the 200 billion housing stimulus wasn't enough.



  • Registered Users Posts: 23 noisysandwich


    Yeah, this was me. Did a 2 year PLC at 19, then started my degree at 21 and my Masters at 24. Graduated in 2013 at 25, faffed about for 2 years having one existential crisis after another, then worked in startups for several years. Now a single Parent to an almost 4 year old and trying to buy an something for us. Really wanted a garden for him but it's not feasible unless I want to live in the sticks and not have a support network around me. So a 2 bedroom poky apartment it is! Could be worse, so many people have things much tougher. But yeah, definitely hard to do it alone and mad to think that I finished my education 10 years older than my Mum was when she finished hers and started working.



  • Registered Users Posts: 23 noisysandwich


    Yeah, this was me. Did a 2 year PLC at 19, then started my degree at 21 and my Masters at 24. Graduated in 2013 at 25, faffed about for 2 years having one existential crisis after another, then worked in startups for several years. Now a single Parent to an almost 4 year old and trying to buy an something for us. Really wanted a garden for him but it's not feasible unless I want to live in the sticks and not have a support network around me. So a 2 bedroom poky apartment it is! Could be worse, so many people have things much tougher. But yeah, definitely hard to do it alone and mad to think that I finished my education 10 years older than my Mum was when she finished hers and started working.



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