Increase in population renting... ticking time bomb?

Staplor

Graces7 wrote: »

I hesitated to use that term but you are correct and it makes me wince. As an almost octagenarian....

where i live the council built a row of small sheltered easy to run houses for the old folk, who refused to move. We have young families there now and a sturdy Meals on Wheels provision.

Just to state, I disagree with the idea, I like living in a community of different aged people, it's good for everyone.

ted1

Fol20 wrote: »

How about if you have specially built villages in the midlands where it’s specifically built for them. Then prices would be cheap and at least they would be surround by people of their own age to talk to

Tbh I think many would prefer to move to Spain, Italy etc than the midlands.

Mrs OBumble

Franz Von Peppercorn wrote: »

No matter what the topic you are always a source of human kindness and empathy.

Being 50+ I'm likely a good deal closer to the kind of scenario i described than you are.

Have you got any actual suggestions about how the issue can be addrrssed?

It's a very real issue: Ireland has made almost no provision for its aging population

House sharing is a good deal nicer than living the rest of your life in one bedroom of a two-star hotel: i remember some elderly people living that way when I was a overseas.

Eric Cartman

Staplor wrote: »

Like an old people ghetto?

why attach that word to anything , people voluntarily self segregate and nobody calls it a ghetto,

Sleeper12

Ignoring the housing shortage for the first five years the last FG / Labour government left us up the creak without a paddle.

We'll need to build tons more OAP sheltered housing. These are usually small. Tiny kitchen, wc & bedroom for single OAPs and slightly bigger ones for couples

M.Cribben

I know a few people still renting or house sharing in their late 30's / early 40's.Families with young children included.
Talking to elderly people who remember and have seen Ireland change over the decades, this was unheard of up to recent times.
In the 50's / 60's (ignoring emigration) most people bought or had council properties by late teens/early 20's.
In the 70's / 80's this moved into mid-late 20's.
In the 90's / 00's again this moved into late 20's/early 30's
Now it's mid 30's heading towards late 30's.
With average mortgage terms of 30+ years, if this figure keeps being pushed out then FTB's will be too old to service a mortgage for that length of time. Could be the beginning of multi-generation mortgages, or the rent-for-life scenarios mentioned by OP.

GingerLily

M.Cribben wrote: »

I know a few people still renting or house sharing in their late 30's / early 40's.Families with young children included.
Talking to elderly people who remember and have seen Ireland change over the decades, this was unheard of up to recent times.
In the 50's / 60's (ignoring emigration) most people bought or had council properties by late teens/early 20's.
In the 70's / 80's this moved into mid-late 20's.
In the 90's / 00's again this moved into late 20's/early 30's
Now it's mid 30's heading towards late 30's.
With average mortgage terms of 30+ years, if this figure keeps being pushed out then FTB's will be too old to service a mortgage for that length of time. Could be the beginning of multi-generation mortgages, or the rent-for-life scenarios mentioned by OP.

Banks just offer a shorter term for over 30/35s etc

Wanderer78

Don't be surprised if we end up with inter-generational mortgages!

Cupatae

Creative83 wrote: »

I was just thinking that with the ever increasing amount of people renting... What are these people going to do when they retire? You would need a great pension pot to continue renting at current rates which is sadly beyond many.

Is this now a ticking time bomb? I mean unless government provides social housing for this specific need it seems we are sleep walking into a disaster.

Thoughts?

What can be done about it? its wealthy people that have earned there money now own alot of property and are gonna continue to reap the rewards, anyone renting... they ll prob have to either buy a house or tough ****.

Wanderer78

Cupatae wrote:

What can be done about it? its wealthy people that have earned there money now own alot of property and are gonna continue to reap the rewards, anyone renting... they ll prob have to either buy a house or tough ****.

'unearned income', an interesting term, and this is a lot more complicated than 'the wealthy'

GingerLily

Wanderer78 wrote: »

Don't be surprised if we end up with inter-generational mortgages!

I will be very surprised. How do you imagine that it works?

Wanderer78

GingerLily wrote: »

I will be very surprised. How do you imagine that it works?

it already exists in countries such as japan, so watch this space i guess, banks love their debts and debt peonage!

GingerLily

Wanderer78 wrote: »

it already exists in countries such as japan, so watch this space i guess, banks love their debts and debt peonage!

And in Japan can they repossess property easily?

Wanderer78

GingerLily wrote: »

And in Japan can they repossess property easily?

ive very little knowledge on the Japanese system other than what ive already said, but id imagine repossession is as easy or hard as anywhere else in the world, it would be interesting to know though

jobless

Wanderer78 wrote: »

Don't be surprised if we end up with inter-generational mortgages!

the last time i heard of intergenerational mortgages was just before the last crash, i dont think were far away from another

Wheeliebin30

Sleeper12 wrote: »

Ignoring the housing shortage for the first five years the last FG / Labour government left us up the creak without a paddle.

We'll need to build tons more OAP sheltered housing. These are usually small. Tiny kitchen, wc & bedroom for single OAPs and slightly bigger ones for couples

But there was no housing shortage for that 5 years, we had too many houses.

Wanderer78

jobless wrote: »

the last time i heard of intergenerational mortgages was just before the last crash, i dont think were far away from another

oh it wont surprise me in the least if we end up with these type of mortgages, the financial system is not willing to change its stance on debt lading society. there will be another crash alright, we just dont know the details yet

Wanderer78

Wheeliebin30 wrote: »

But there was no housing shortage for that 5 years, we had too many houses.

so houses can be easily moved?

GingerLily

Wheeliebin30 wrote: »

But there was no housing shortage for that 5 years, we had too many houses.

We didn't have houses in the right location.

GingerLily

Wanderer78 wrote: »

oh it wont surprise me in the least if we end up with these type of mortgages, the financial system is not willing to change its stance on debt lading society. there will be another crash alright, we just dont know the details yet

Of course there will be another crash, economics 101

Wanderer78

GingerLily wrote: »

Of course there will be another crash, economics 101

are we ready for it, and are we doing the right things to prepare for this inevitable event?

Topgear on Dave

Wanderer78 wrote: »

are we ready for it, and are we doing the right things to prepare for this inevitable event?

Such as?

GingerLily

Wanderer78 wrote: »

are we ready for it, and are we doing the right things to prepare for this inevitable event?

No one knows how severe the event will be though, so how do you propose we prepare for it?

Wanderer78

Topgear on Dave wrote:

Such as?

To keep within the context of this thread, there's clearly something seriously going wrong with housing, homeless numbers are slowly increasing, and I suspect it actually doesn't matter what government is voted in, this problem current seems unsolvable, maybe it would be a good we actually accept this, and democratically try figure it out.

BrokenArrows

Lamar Icy Gill wrote: »

Not an instant solution (but a 'future overnight solution'), to the housing & infrastructure crisis.
I.e. Hyperloop. A pneumatic vacum tube transport system.
Galway direct to Dublin (it says) in 11mins, at a leisurely 1,260km/h

Theoretically you could build housing in some random bogland, and tube workers in/out before they finish their coffee.

Good to see the schools/next generation getting involved in it's evolution. http://www.eirloop.ie

Thats all well and good but the cost of a ticket (especially in ireland) on such a system would likely outweigh any savings on the property.

GingerLily

Wanderer78 wrote: »

To keep within the context of this thread, there's clearly something seriously going wrong with housing, homeless numbers are slowly increasing, and I suspect it actually doesn't matter what government is voted in, this problem current seems unsolvable, maybe it would be a good we actually accept this, and democratically try figure it out.

I honestly cant work out what your suggestion is?

Wanderer78

GingerLily wrote:

I honestly cant work out what your suggestion is?

There's many interesting alternative ideas out there but sadly are largely being pushed aside by our political institutions, my own personal favourites would be:

The introduction of a public banking system

The increase use of sovereign wealth funds

The encouragement of co op based industries

The introduction of more democratic political systems, particularly within the bounds of the EU

Stricter regulations on banking activities

The introduction of more democratic methods of money creation, rather than our current more plutocratic approach

There are other ideas, but I'm a little busy right now

GingerLily

Wanderer78 wrote: »

There's many interesting alternative ideas out there but sadly are largely being pushed aside by our political institutions, my own personal favourites would be:

The introduction of a public banking system

The increase use of sovereign wealth funds

The encouragement of co op based industries

The introduction of more democratic political systems, particularly within the bounds of the EU

Stricter regulations on banking activities

The introduction of more democratic methods of money creation, rather than our current more plutocratic approach

There are other ideas, but I'm a little busy right now

Is there evidence that these things would help with a crash?

Any of the more practical suggestions are already being implemented in one way or another.

BrokenArrows

Wanderer78 wrote: »

To keep within the context of this thread, there's clearly something seriously going wrong with housing, homeless numbers are slowly increasing, and I suspect it actually doesn't matter what government is voted in, this problem current seems unsolvable, maybe it would be a good we actually accept this, and democratically try figure it out.

Do we have any statistics on who these homeless people are and why they are homeless?

We also need to reclassify "homeless". I think the current figures also take into account people who have no home, but have somewhere to stay (ie. with friends or relatives)

If they are homeless and jobless and are foreign nationals then they should be deported asap. EU laws show that someone only has the right to stay for 3 months, or if they are working or can afford to not be a drain on the nation.

If they are Irish/Permanent Residents with drug problems then they should be detained indefinitely and put through drug treatment and not released until they are deemed clean and unlikely to relapse in the medium term.

Its harsh but necessary in my opinion.

Wanderer78

Wanderer78 wrote: »

are we ready for it, and are we doing the right things to prepare for this inevitable event?

If readiness was a prerequisite to a crash the event wouldn't be a crash.

Wanderer78 wrote: »

......

There are other ideas, but I'm a little busy right now