Is it time for ireland to accept we are like most of Europe and be happy just renti

Graham

Speedwell wrote: »

Normally the removal of barriers to entry doesn't include shutting down going concerns.

It must be time for me to grab another coffee because I have absolutely no recollection of making that suggestion.

Anyway, I think we're veering well and truly O/T here.

Goat Paddock

Don't forget the proliferation of agencies and temporary contracts in recent years, making permanent employment and mortgages less of a possibility thereby renting more likely???.

Graham

Goat Paddock wrote: »

Don't forget the proliferation of agencies and temporary contracts in recent years, making permanent employment and mortgages less of a possibility thereby renting more likely???.

Absolutely, I think there's going to have to be a fairly seismic shift in the way people view and finance their homes over the next 20 years.

snickerpuss

How could someone on a public pension or small private pension afford to rent? What do you do if you need to move house every few years when you have children in school etc? Renting in Ireland is full of shysters on both sides.

Graham

Graham wrote: »

There are also plenty of home-owners who rue the day they signed on the dotted line and will be digging their way out of negative equity for years to come.

Negative equity means SFA if you plan on staying in the house. Provided you can afford the mortgage, it doesn't matter that the property is worth only x% of whatever you paid for it. That only comes into play when they are upgrading or selling the property.


There are people who paid over €250k for properties in the late noughties, whose value fell to just over half that, and they were openly mocked in the media, including here on Boards. Now a lot of those mockers would step over their own grandparents for such a house/apartment because they can't get a mortgage and are paying €1300+ per month in rent.


There was a plethora of smug "delighted I never bought into the property ladder" type posts when the crash happened. I'd love to know the number of people who genuinely passed up an opportunity and regret it now.

Graham

Deleted User wrote: »

Negative equity means SFA if you plan on staying in the house. Provided you can afford the mortgage, it doesn't matter that the property is worth only x% of whatever you paid for it. That only comes into play when they are upgrading or selling the property.


There are people who paid over €250k for properties in the late noughties, whose value fell to just over half that, and they were openly mocked in the media, including here on Boards. Now a lot of those mockers would step over their own grandparents for such a house/apartment because they can't get a mortgage and are paying €1300+ per month in rent.


There was a plethora of smug "delighted I never bought into the property ladder" type posts when the crash happened. I'd love to know the number of people who genuinely passed up an opportunity and regret it now.

Goes to show that in recent times there's winners and losers when it comes to playing the 'must own a house' game. It's certainly not the only safe/sensible option and makes as good an argument as any for bringing our property rental market more in line with some of our European counterparts.

athtrasna

Mod note

This thread is tending to go off topic. Posters are reminded to please stick close to the topic and focus on the accommodation and property aspects. Thanks

McGrath5

Graham wrote: »

There are also plenty of home-owners who rue the day they signed on the dotted line and will be digging their way out of negative equity for years to come.

Yep, I know a few myself too.

Graces7

Lilah Blue Meteorite wrote: »

I think I'm correct in saying you get rent allowance though, of course this makes a big difference as its money you would not be getting if you owned your home. Most will not get rent allowance however (and rightly so I might add) so in most situations you are much better off to own your home. If you keep on top of maintenance you will be unlucky to have a big expense and the fact you are not paying rent allows you to save up money (this is making the likely assumption you have paid off your mortgage which most do before retiring).

Yes rent allowance. And I still disagree re owning. Maintenance and replacing modern appliances that die fast IS a major factor.. Rat chewed through a pipe; plumbers charge like wounded bulls and there goes food money for a couple of weeks...Pipe gets damaged in rental and the landlord pays.. Needs painting and I ask for paint and do it myself.....But them you are young and I am old and renting is better for me.

Canadel

There is nothing strange or uniquely Irish about wanting to own your own home. How many mid to high earning families do you know who rent, or would rather rent, than own their own home or appartment? Obviously there is a case for a reform of the rental market and to encourage renting among younger people and other demographics. That's fine. But this pseudo psych theory about Irish people having a unique obsession with owning their own home is nonsense. It's just that now as housing has become too expensive for ordinary families, it's the perfect opportunity for certain commentators (nearly all of whom you'll find, at least those with families, will own their own home) to perpetuate this myth that the Irish are obsessed with housing and need to modernise and follow Europe by embracing a rental culture.

Bob24

Canadel wrote: »

There is nothing strange or uniquely Irish about wanting to own your own home. How many mid to high earning families do you know who rent, or would rather rent, than own their own home or appartment? Obviously there is a case for a reform of the rental market and to encourage renting among younger people and other demographics. That's fine. But this pseudo psych theory about Irish people having a unique obsession with owning their own home is nonsense. It's just that now as housing has become too expensive for ordinary families, it's the perfect opportunity for certain commentators (nearly all of whom you'll find, at least those with families, will own their own home) to perpetuate this myth that the Irish are obsessed with housing and need to modernise and follow Europe by embracing a rental culture.

Coming from an other European country myself, I do find the Irish are obsessed with property (not only as a place to live but also as a way to make quick money).

That is not everyone of course, and I can understand the boom years pressured a lot of young people who thought if they don't catch the trains as soon as they can, prices increases would put any home out of their reach while increasing rents would swallow their income (that was wrong, but well they were young and being pressured by the rest of society).
But non the less that obsession exists.

People might disagree, but I also remember reading some type of historical explanation for it:

"modern Irish patriotism first coalesced as a revolt against unfair evictions during the so-called land wars of the late 1800s. The period gave Ireland some of its earliest and most enduring political heroes—Charles Stuart Parnell, Michael Davitt—and villains, such as Charles Boycott, an unpopular, English-born magistrate and collector of rents from Irish tenant farmers. He gave his name, or rather he had it given for him, to the method of organized, non-violent shunning of which he was the subject until he was ultimately driven from the island.

Ancient history? Perhaps. But the notion of the sanctity of the family home still carries considerable weight in Ireland."