New RTE property show tonight

FillSpectre

I was readingan article on a new show "I'm an adult get me out of here". THe idea being they help or watch people try to move out of their parents and get a place of their own. All sounds fine but the people that appear to be in the show (according to the article) are from wealthy backgrounds or at least middle class.

One of the people mentioned on it is a single mum living with her parents and get this she want a 3 bed semi so the their is room fro her child! Is it just me or does that sound like a lot of house for two people one of which should at least be working to pay for the house. We all know there is a problem with price and demand. If a single mum of one is wanting a 3 bed house maybe that is the problem not house prices.

microgirl

Well, she might also want a 3-bed so she can get someone else in to help pay the mortgage. I'm a single person on my own and ideally I'd want a 3-bed so I could have two people in to share the costs, or one and still have the boxroom spare. Not that I'd refuse a 2-bed, but ideally a 3-bed would be easier. A 1-bed apartment is out of the question from a repayment situation.

As for the show, I actually applied to be on it, but decided not to do it when it became clear that there was absolutely nothing whatsoever in it for the young buyers except that the programme would do the legwork of finding properties for you. For opening up your private life (and that of your family, more to the point) on TV, there should be some kind of recompense or return. I'm not talking anything substantial, but a grand's worth of solicitor's fees even would go a long way for some. But it was actually said to me that appearing on TV was the main incentive and that's what was exciting everyone else about it. Reality TV celebrity-itis. And none of the other participants seemed to be in desperate financial straits. It was basically for those who'd got happy in their rut and wanted someone else to do the hard work of moving them out, rather than those who desperately want to move out but simply don't have the means.

FillSpectre

Nice theory about the house but as the reson she stated was more room for her child not to rent a room out. There are two bed houses all around the country. A three bed house costs more so the renting to a person to buy so that you can rent seems like a good idea for some I guess but would you exposes your child to somebody living in your house?

Calina

on the other hand, would you choose, as a tenant, to move into a house with a child in it? I know I wouldn't. In fact, having done the lodger trick as part of "rent a room", I would never, ever again live in an owner occupied unit, and when I buy my own place, there is no way I'd want to be relying on a tenant.

Culchie

What time is it on at?

gurramok

Very good point OP, i am also an 'adult still living with parents'.
The only way anyone can get out of the family home is to afford it.

ie RTE will have to give the participants a 6 figure sum, either that or the participants are very wealthy individuals who can afford a place to buy anywhere as a single person.
A different story if the program is helping 2 people buying a single property where it can be afforded at the bottome rung of the ladder, guess the program will show who exactly they are targeting!

FillSpectre

It is on at 9:30 pm RTE 2.

I would not hold out for the show to be a people struggling or finding it tough. One of the people who the show was on the radio is living in Dun Laoghaire and wants to buy a house in the area with one of the other sisters. I get it would be nice to buy in the area you grew up but it is a luxury and should be recognised as such.

the_syco

Didn't see it, but was wondering was it like?

muletide

Not bad, the presenter seems like a nice guy. I think they picked the wrong type of people to help out they were not your typical first time buyers - rich kids whose parents had no problem stumping up alot of cash.
But looks like it could be a good show

homah_7ft

It was a bit ridiculous to be perfectly frank. It showed them ringing their father in Hong Kong for more money towards the house. Enough said?

Dirk Gently

Not really an accurate reflection on first time buyers but the younger sister was gorgeous so it gets thumbs up from me.

dingding

Would they have been liable to tax on the 500 euro they were both getting each month from their father ?

FillSpectre

I think the article in the Sunday paper gave an accurate picture of the people even though it was not critical. Not many do get so much money from their parents. I don't know any 26 years olds getting an allowance from a parents while working and living at home. :rolleyes:
I couldn't watch it all.

TheMonster

dingding wrote:

Would they have been liable to tax on the 500 euro they were both getting each month from their father ?

Would have thought so and they divulged all on telly - watch the tax man swoop. Wouldn't the deposit for the house also be taxable?

Moonbeam

The show was good but the 2 girls were in a situation far from reality to most of us.
They had their rich daddy to pay the deposit and their mum went gurantor on 100k or so so they could go well over their budgets.

will be interesting to see how they cope paying their 750 or so a month mortgage in a few months.

TheMonster

Moonbeam wrote:

.

will be interesting to see how they cope paying their 750 or so a month mortgage in a few months.

easy - "Daddy - we need some bunny for the mortgage as we can't afford it because we, so like, had to buy the latest Gucci handbag"

FillSpectre

Moonbeam wrote:

will be interesting to see how they cope paying their 750 or so a month mortgage in a few months.

Their daddy gives them €500 each a month I think they might just manage the €250 a month each but then again who knows. The worst bit is one of them was on at least 2 radio station yesterday promoting the show.

Culchie

ffs ... A good idea for a show ruined by having two kids on who can turn to mummy and daddy for the whole shooting match, even daddy's allowance just about pays their mortgage.

This from a girl on €1700 a month and her 22 year old sister.

Just to add to my cynicism ... the two of them drive off into the sunset in a '05' car giggling.

RTE really know how to make a cloud out of a silver lining.

Scruff

missed the 1st half but thought the rest of it was funny. two good looking south dublin birds doing the their sterotype no favours what so ever. Younger one had her head screwed on a bit better than her older sister who seemed to be a shopaholic.
They looked like they were going to cry when they were viewing the house in Neilstown. Dont blame em for not wanting to live there (i live about 3 miles from there so i've a fair idea) but thought the crushing reality if what they could afford was priceless. Classic comment from the older one about being able to get more money: "We're lucky that we've 3 parents".
yah, like roish!

microgirl

FillSpectre wrote:

would you exposes your child to somebody living in your house?

Actually, potentially yes. And I know many people who have. My mam did for years, although admittedly it was student digs that she was providing (y'know, meals cooked, house rules etc), which is slightly different.

It doesn't have to be a stranger that you have in the house, it could be a friend or acquaintance. And while yes, a 2-bed might be argued to be good enough for a single mother and child (and certainly if there's no plan to have anyone else in to help with the mortgage) - an argument I would generally make too - it is understandable to want to have a spare room if people visit. That's something everyone wants. Also, just because you state your desires doesn't mean that that's the minimum you'll accept.

microgirl

gurramok wrote:

Very good point OP, i am also an 'adult still living with parents'.
The only way anyone can get out of the family home is to afford it.

ie RTE will have to give the participants a 6 figure sum, either that or the participants are very wealthy individuals who can afford a place to buy anywhere as a single person.
A different story if the program is helping 2 people buying a single property where it can be afforded at the bottome rung of the ladder, guess the program will show who exactly they are targeting!

Well, as I said myself from the details the producers gave me during my several meetings with them when I was a prospective participant, the premise of the show was giving lazy/rut-stuck/ people who keep putting things on the long finger a kick up the ass, not those who can't get out for financial reasons. The benefit to me would have been that they might finally motivate me to get my finger out to send off my applications for Shared Ownership and Affordable Housing, which I've been long-fingering for months because it's so much finicky paperwork. Someone doing that for me would be great.

But not at the expense of having to let them invade my mother's house foir 1-2 days, and question all my friends about me

FillSpectre

microgirl wrote:

Actually, potentially yes. And I know many people who have. My mam did for years, although admittedly it was student digs that she was providing (y'know, meals cooked, house rules etc), which is slightly different.

You do realise that most victims of abuse are abused by peolpe close to the family. Living in the house with anybody other than family could be a potential risk as is family also.

I don't think it is understandable to put yourself in financial risk to have niceities such as a room for guests. I don't know about you but I know people who have bought bigger houses than they need miles away from where they need to commute to work in order for these nicities (e.g. big back garden, studya, spare bedroom etc...). As I said the only information we have at the moment is a single mother with one child wants a 3 bed semi for the extra room for her child. Wait till her show is on and we might find out more. THe show last night showed some spoilt kids COMPLAINING about what they could afford (the could afford nothing it was given to them)

Lex Luthor

the show was poor but last nights eye candy was good, especially the younger one:p
Now that half teh country know where they live I bet there'll be a lot of lads scoping them out

dochasach

FillSpectre wrote:

...
I don't think it is understandable to put yourself in financial risk to have niceities such as a room for guests.

Buying any house right now puts the buyer in financial risk, but if (when) there is a downturn, a 3br will be easier to sell than a 2, a 2 easier than a 1 and of course there is the possibility of renting out the extra room. Banks in some countries won't even loan for a 1Br for just this reason.

I wouldn't criticize those who have a spare bedroom they don't need when plenty of other people have one or more extra houses they don't need. The extra houses are a much bigger risk to personal and overall Irish economy.

If the government really wants to do something about housing affordability:

• Replace stamp duty with an annual property tax so the already owning 'elite' pay their share.
• Tax the snot out of fallow property. If you aren't living in it, farming it or renting it out, you're speculating and only contributing false demand and forcing prices up. When some of the empty "investment property" goes back on the market, it will make much more available for young mothers, possibly even enough to allow for a spare bedroom or two.
• Regulate the banks so that they assume the full risk of bad loans and can't expect a government bailout if their excess lending leads to a slew of defaults. Ban 90%+ loans. (apologies to any bankers who break out in a cold sweat at this thought.) Noel Ahern, are you listening?
• Planning reform. (Yeah, like that will ever happen.)
• Anti-shill real estate bargaining laws, similar to those used in Scotland.
• Transparency and truth in advertising regulation in the real estate industry. An estate agent is a financial advisor, he/she should meet similar standards as stock advisors.
  

FillSpectre wrote:

...
I don't know about you but I know people who have bought bigger houses than they need miles away from where they need to commute to work in order for these nicities (e.g. big back garden, studya, spare bedroom etc...).

To each his/her own, different strokes and all that. With the government decentralisation and more companies allowing telecommuting, why not enjoy a house "out there" rather than a broom closet in Dublin? Who knows, one day our prosperity may lead to a 1st, 2nd or 3rd world transportation system rather than the 4th world one we have.

The only disadvantage I see is for investors, when Tokyo's real estate bubble deflated, outlyng property was hit hardest.

FillSpectre wrote:

As I said the only information we have at the moment is a single mother with one child wants a 3 bed semi for the extra room for her child.

Try keeping the kid in a 350,000 euro broom closet in a crime ridden Dublin neighborhood and you'll probably crave a home with a garden in Athlone (or Zurich). It's one of the reasons why I'd advocate renting right now, you can easily get twice as much for your money, less risk, less crime and unlike ARM mortgages, rents have been steady or falling for the past few years. Those who rent and invest the extra money in a better lifestyle, savings, pension or other investment are in good company.

FillSpectre wrote:

...Wait till her show is on and we might find out more. THe show last night showed some spoilt kids COMPLAINING about what they could afford (the could afford nothing it was given to them)

I'll agree with you on that 100%! The parents spoilt them and contribute to house price inflation. But they're only representative of 80% of Dubliners their age and 99% of D4s their age. They've seen nothing but boom times.

dochasach

FillSpectre wrote:

...
I don't think it is understandable to put yourself in financial risk to have niceities such as a room for guests.

Buying any house right now puts the buyer in financial risk, but if (when) there is a downturn, a 3br will be easier to sell than a 2, a 2 easier than a 1 and of course there is the possibility of renting out the extra room. Banks in some countries won't even loan for a 1Br for just this reason.

I wouldn't criticize those who have a spare bedroom they don't need when plenty of other people have one or more extra houses they don't need. The extra houses are a much bigger risk to personal and overall Irish economy.

If the government really wants to do something about housing affordability:

• Replace stamp duty with an annual property tax so the already owning 'elite' pay their share.
• Tax the snot out of fallow property. If you aren't living in it, farming it or renting it out, you're speculating and only contributing false demand and forcing prices up. When some of the empty "investment property" goes back on the market, it will make much more available for young mothers, possibly even enough to allow for a spare bedroom or two.
• Regulate the banks so that they assume the full risk of bad loans and can't expect a government bailout if their excess lending leads to a slew of defaults. Ban 90%+ loans. (apologies to any bankers who break out in a cold sweat at this thought.) Noel Ahern, are you listening?
• Planning reform. (Yeah, like that will ever happen.)
• Anti-shill real estate bargaining laws, similar to those used in Scotland.
• Transparency and truth in advertising regulation in the real estate industry. An estate agent is a financial advisor, he/she should meet similar standards as stock advisors.
  

FillSpectre wrote:

...
I don't know about you but I know people who have bought bigger houses than they need miles away from where they need to commute to work in order for these nicities (e.g. big back garden, studya, spare bedroom etc...).

To each his/her own, different strokes and all that. With the government decentralisation and more companies allowing telecommuting, why not enjoy a house "out there" rather than a broom closet in Dublin? Who knows, one day our prosperity may lead to a 1st, 2nd or 3rd world transportation system rather than the 4th world one we have.

The only disadvantage I see is for investors, when Tokyo's real estate bubble deflated, outlyng property was hit hardest.

FillSpectre wrote:

As I said the only information we have at the moment is a single mother with one child wants a 3 bed semi for the extra room for her child.

Try keeping the kid in a 350,000 euro broom closet in a crime ridden Dublin neighborhood and you'll probably crave a home with a garden in Athlone (or Zurich). It's one of the reasons why I'd advocate renting right now, you can easily get twice as much for your money, less risk, less crime and unlike ARM mortgages, rents have been steady or falling for the past few years. Those who rent and invest the extra money in children, a better lifestyle, savings, pension, or other investment are are in good company.

FillSpectre wrote:

...Wait till her show is on and we might find out more. THe show last night showed some spoilt kids COMPLAINING about what they could afford (the could afford nothing it was given to them)

I'll agree with you on that 100%! The parents spoilt them and contribute to house price inflation. But they're only representative of 80% of Dubliners their age and 99% of D4s their age. They've seen nothing but boom times.

the_syco

It could be just me, but a mother and child... renting a room to an unknown stranger, just seems wrong. Unless you know them before you rent out a room to them, and even then its not always certain...

godtabh

dochasach wrote:

Try keeping the kid in a 350,000 euro broom closet in a crime ridden Dublin neighborhood and you'll probably crave a home with a garden in Athlone (or Zurich). It's one of the reasons why I'd advocate renting right now, you can easily get twice as much for your money, less risk, less crime and unlike ARM mortgages, rents have been steady or falling for the past few years. Those who rent and invest the extra money in children, a better lifestyle, savings, pension, or other investment are

If you rent you have nothing to show for at the end of the day. I would rather live at home and save to buy my own place (which I am doing now) than rent a place.

FillSpectre

dochasach wrote:

I wouldn't criticize those who have a spare bedroom they don't need when plenty of other people have one or more extra houses they don't need. The extra houses are a much bigger risk to personal and overall Irish economy.

dochasach wrote:

To each his/her own, different strokes and all that.

Your two statemnets don't match you basically don't think each to their own. It appears you find it acceptable for an individual to be greedy when it is their home but people investing in property should be punished for doing so.

dochasach wrote:

I'll agree with you on that 100%! The parents spoilt them and contribute to house price inflation. But they're only representative of 80% of Dubliners their age and 99% of D4s their age. They've seen nothing but boom times.

I find that slightly offensive. THose girls certainly don't represent 80% of Dublin population their age. I also think you can buy a nice place for €350k in a nice area. I don't know where you live but I'll take it you don't live in Dublin or have only have knowledge of a very small part of it becasue what you said is not my city.

conor_mc

the_syco wrote:

It could be just me, but a mother and child... renting a room to an unknown stranger, just seems wrong. Unless you know them before you rent out a room to them, and even then its not always certain...

Made me giggle that, coming from someone who goes by the name "the_syco"..!!!!

aniascor

dochasach wrote:

[*]Replace stamp duty with an annual property tax so the already owning 'elite' pay their share.

I would hate to see this happen - you can't control rising property taxes, and can end up losing the very house you have worked your whole life to pay for when you retire, or become ill, and suddenly can't afford property taxes. Your primary residence should never be subject to this! (BTW - I have no problem with property taxes for investment or second properties.)
And what should the property taxes be based on? The original price you paid for your house? Or what it is worth now in an inflated market?

dochasach wrote:

[*]Tax the snot out of fallow property. If you aren't living in it, farming it or renting it out, you're speculating and only contributing false demand and forcing prices up. When some of the empty "investment property" goes back on the market, it will make much more available for young mothers, possibly even enough to allow for a spare bedroom or two.

I really like this idea! - it is so obvious looking around Dublin that half of the new properties have never been lived in - I live in Smithfield, and half of the apartments in the block that Fresh supermarket is in haven't even been furnished yet, not to mind rented out. And those apartments have been ready for about 9 months.

Lex Luthor

dochasach wrote:

[*]Replace stamp duty with an annual property tax so the already owning 'elite' pay their share..

so I get penalized for buying a house before the boom? Is that what you're saying?

So if any of the elite out there that you are referring to get a property tax pushed on them, do you think the government will refund them the SD they paid..???

Youy know if you buy a new house, you don't have to pay SD if your a FTB....

:rolleyes: