Do you own property?

The bank owns your house. You can't honestly say you own a house until your mortgage is paid off and the deeds are in your hands.

jimgoose wrote: »

Yes, you can. The mortgage provider has an interest in it, but you own it. And having the deeds "in your hands" is neither here nor there.

An interest? Stop paying your mortgage and see how that "interest" escalates. You're a fool if you think otherwise.

You're just a glorified tenant if you have a mortgage.

Anybody who owns a but to let property is morally wrong and a leech on society.

I see sheep wrote: »

Anybody who owns a but to let property is morally wrong and a leech on society.

Why? If someone has worked hard to buy a second property why shouldn't they be able to reap some benefit? Constitutional right to earn a livelihood, property etc. And let's not forget the massive tax paid on rental income which is propping up the government.

I'm a long way off from owning, but it's my ultimate goal at this point in my life to one day have a mortgage on a house paid off. The investment side isn't that important to me as my priority will always be to have a place to pass on to any kids I may have to ensure they have that security.

In Ireland, not aiming to own is hard to fathom, renting is unsustainable, even for two job families. low income families or single income people forced out of rentals now. many forced to live on sofas or move in with elderly parents. young families forced out of rentals into homeless accommodation and its worse year on year. it is skewed now. the building is too slow. rents too high.

not owning seems risky, but renting is becoming impossible. we now have homeless people and children who would never have been homeless before.

for one income households, renting is just unaffordable. to own a home, obviously you must have savings and with current rents, it now takes too long to save it up. one ends up paying more to rent and saving less, stuck in a way.

to want to own seems big irish thing, for most of us, its our aim. But that can go wrong, even with good education, savings and a job...... For e.g.

As for most young 20somethings, wanted to own, saved through my 20s after a degree and good job, had 20k in savings for a deposit, then at 29, life altered my plans. a split relationship and unexpected/unplanned pregnancy. for women, plans to own can be radically changed by having children or partners walking away from a relationship. it can change everything. be aware.

In Ireland, childcare issues hamper womens ability to house themselves or get a job/future pension. woman can own if single without children, and with a partner yes, if they both have savings. but if a women is left alone, afraid she is not going to find having a roof over her head easy to sustain.

we are stuck in a timewarp with women, work and children. thats why the mother and child often get the family home after a split. if its sold, both parents have to manage with less, its the way our system is set up but it needs to change. men cannot afford to rent bedsits. but women have had to give up work when becoming mums, cannot fund childcare to work now, so cannot fund a new home either. yet its the children who will suffer too, without a secure home, if both cannot pay their share to find a home. so there needs to be something changed with the laws of property rights and family law too.

Me, I was unable to source childcare to keep job going, i refused bank trying to force mortgage on me in 2004, me to commit to a 35 year mortgage as a single mum with no ability to work and mind child or pay to keep a job would be CRAZY (so would have had house seized off me!). sensibly, said no and stayed on rent allowance. i wanted badly to own but knew i could not do so.

i campaigned with womens groups for affordable childcare since 2004 (give up now, it is never going to happen, silly little schemes will never work, needs radical investment in ireland). as childcare never became affordable, even with schoolterms as child grew older, stuck living on benefits (father unwilling to pay his 50% so forced to rent using said 20k to top up rent allowance, state help despite the rhetoric NEVER covered rent then, even harder now). as a mum without a steady job, i understand -theres never gonna be my chance to own.

The thing is, all parents will struggle if they work and pay rent AND childcare, they can't do it. unless family mind child for free. and same with two low income workers. one income homes 100% unable to buy a home now, unless they do not have children ever. unlike other OECD countries.

not everyone is able to work in wellpaid secure jobs or get a degree. people are wont to do what they can to suvive, even cheat the system. couples say they are not couples but "single" parents, lie to get state help and manage it. a lot of fathers walk away and leave women and children in homeless accommodation here. people save and work cash in hand to get a deposit.

its impossible to pay childcare to work and fend for oneself and buy a house or rent now. if one has a bad breakup and left holding the baby, society blames all single mothers for being in that situation, without courts making fathers to pay up, pointless. it doesn't help parents make an effort to get back to work, some parents were not planning to be broke or homeless, couples split, condoms split, contraception fails, jobs lost, people become ill....things happen. ....not having children might not guarantee one can buy ever either, rents way too high now, even for single people to get 20 or 30k in savings for a deposit.

not everyone inherits a family home or gets deposit from the parents either.

actually young AND old struggle even to rent now. if grandparents haven't taken them in or childmind for them to work, families likely end up homeless sharing with parents or kicked out eventually. rent allowance and RAS (and later HAP) landlords don't want children either (I moved 4 times 2004-2016 to cheaper to find a home). with only one child, struggled to rent until 2016, and rents WAY higher past 3 years... had NO OPTION but to beg for a council home (or share with teenage son in grandparents small boxroom).

If we can build on state owned land, cap rents and introduce affordable childcare (so people can work and rent then save to buy), more could have a home, more could safely rent or buy a home eventually. things in housing are worng on every level right now. ireland as a whole would improve. more people can own a home and have security for later in life. we are asking for trouble the way home ownership, rents, childcare and housing is right now.

now 45 looking to work (after some upskilling and short PT work and volunteering while possible), cannot save a deposit so will never own and hoping can get some small pension with a job.

owning is better in Ireland, count yourself lucky to have a home and more than one to have a pension and financial security. if one has life circumstamces change, in ireland owning can be a blessing if one can pay mortgage.

dunno how older people who still rent will survive in later years, tbh.

Antares35 wrote: »

Why? If someone has worked hard to buy a second property why shouldn't they be able to reap some benefit? Constitutional right to earn a livelihood, property etc. And let's not forget the massive tax paid on rental income which is propping up the government.

Parasites, whose only qualification is that they were lucky enough (or were given money by their parents) to own not just their house but another one, then they use people less fortunate than them who are stuck renting to pay the mortgage on their second house so that they give their spoilt brats a present of a house they don't deserve and start the cycle again.