How can someone in their 30s afford a house - PLEASE READ MOD WARNING IN OP

lainey_d_123

lainey_d_123 wrote: »

Eh....where exactly?

Eh anywhere.

Cyrus

lainey_d_123 wrote: »

It's just yet another way for the right wingers to sh1t on people and make everything the individual's fault.

Maybe some things are the individuals fault ? Can’t always be someone else to blame

lainey_d_123

bubblypop wrote: »

Eh anywhere.

Why are you still talking about something you clearly have no idea about? What do you mean by 'anywhere'? She CANNOT work in the EU now. There's virtually no market for interpreters in the UK. The jobs which do exist are freelance, one off jobs.

Graham

Mod Note

We're straying into the weeds a little here.

There's a lovely work & jobs forum here where you can discuss career options.

GreeBo

lainey_d_123 wrote: »

Exactly. If I had been able to save what I've paid in rent over the last 15 years, I'd have a deposit many times over.

And if I had been able to save what I've spent on food I'd be mortgage free.
I'm not sure what point you are trying to make here?

holliehobbie

Deleted User wrote: »

There are many similar threads on boards and I don't understand why some people can't just admit that its more difficult than ever to buy a house, particularly in Dublin.

Its not even a discussion, its a fact backed up by the number of people now living in Meath, Kildare, Laois, Wicklow.

Its not because people have a Netflix or Spotify account. Its not because people go out and have a bit of fun once in awhile.

Somebody mentioned 50K not being a great salary. Well more than half the country earn less. I know software developers that are on 50K. Half the multi national companies dont actually directly hire too many people. They outsource major parts of their operation to companies that will do it for cheaper and pay lower salaries.

Its these low salaries and high house costs that is the issue.

You forgot Co. Louth in your list!! Two of my sisters commute from Dundalk to Dublin for work.

lainey_d_123

GreeBo wrote: »

And if I had been able to save what I've spent on food I'd be mortgage free.
I'm not sure what point you are trying to make here?

That the original point of a deposit was to prove you could afford your mortgage and weren't a risk to the bank. Most people who are renting are paying more every month to rent than they'd pay for a mortgage. Most people on average salaries can't afford to spend 35+% of their take-home pay on rent and then put that again into savings. If you're spending 600+ euro a month on food, you've got issues.

Rent should conceptually be higher than a mortgage.... that is quite logical.
Currently in Ireland rent is very high, at peak prices. Property values have been higher (some will disagree).

As an aside. A coding workshop isn't comparable town actual degree in a relevant discipline.... a graduate will of course be the preferable candidate 9 times out of 10 for an entry level role...

If you need to spend 35% of take home on rent then saving another 35% of take home is a challenge...... however on 3k+ net it'd be doable imo.

And if you're not on 3k net you should be sharing if realistic about gathering a deposit.

Loads of folk decided to rent long-term when rent was really low..... turns out they don't like the concept now as rents are high.

Augeo

Augeo wrote: »

Rent should conceptually be higher than a mortgage.... that is quite logical.
Currently in Ireland rent is very high, at peak prices. Property values have been higher (some will disagree).

As an aside. A coding workshop isn't comparable town actual degree in a relevant discipline.... a graduate will of course be the preferable candidate 9 times out of 10 for an entry level role...

If you need to spend 35% of take home on rent then saving another 35% of take home is a challenge...... however on 3k+ net it'd be doable imo.

And if you're not on 3k net you should be sharing if realistic about gathering a deposit.

Loads of folk decided to rent long-term when rent was really low..... turns out they don't like the concept now as rents are high.

The average salary is certainly not 3k + net.
So essentially we are saying that the average person can’t buy a house. Buying a house is now for above average people.

DubJJ

lainey_d_123 wrote: »

She CANNOT work in the EU now. There's virtually no market for interpreters in the UK.

Why can't she work in the EU? No agreement has been made yet so nobody knows what the future holds, I'm sure the uncertainty is frustrating but UK citizens haven't been banned from working in the EU just yet. (now working for the EU is a different story).
To say there's no work for interpreters in the UK is also ridiculous, they have a massive immigrant population from around the world.

Deleted User

Deleted User wrote: »

The average salary is certainly not 3k + net.
So essentially we are saying that the average person can’t buy a house. Buying a house is now for above average people.

Indeed.
Average person doesn't need a house either ..... but do all the average people live in Dublin?
Average people couple up etc....
If you're single & looking to buy a house you aren't an average person.
If folk want to talk about averages.

Interested Observer

Deleted User wrote: »

The average salary is certainly not 3k + net.
So essentially we are saying that the average person can’t buy a house. Buying a house is now for above average people.

The average full time salary in the State is something like 46k. That is not far off 3k net, it's about 2.9k. So yes not quite 3k net but not far off either.

Folk will now harp on that the average Joe can't get a full time job paying 46k.
Average Joe drives a van for a tenner/hour or is on shirt term contract with a nasty multinational etc etc etc

Yurt2

Interested Observer wrote: »

The average full time salary in the State is something like 46k. That is not far off 3k net, it's about 2.9k. So yes not quite 3k net but not far off either.

If Mark Zuckerberg sat down for dinner with 9 street sweepers, the average net worth of the people at the table would be 6 billion dollars.


The median salary in Ireland, around which most people in the economy are clustered is much lower.

lainey_d_123

Deleted User wrote: »

The average salary is certainly not 3k + net.
So essentially we are saying that the average person can’t buy a house. Buying a house is now for above average people.

Isn't that basically the answer to the OP's question? Make over the median salary, and preferably be part of a couple who can pool their savings?

Interested Observer

Yurt! wrote: »

If Mark Zuckerberg sat down for dinner with 9 street sweepers, the average net worth of the people at the table would be 6 billion dollars.


The median wage, where most people in the economy are clustered is much lower.

Give us the figure then. There are no Mark Zuckerbergs in Ireland.

Graham

Interesting article in the Irish Times Here

What salary will buy a typical house around Ireland?

It's from last year but prices in many/most areas haven't changed too significantly.

It also doesn't appear to take into account bank exemptions/FTB/HTB which would also help first time buyers.

Yurt2

Interested Observer wrote: »

Give us the figure then. There are no Mark Zuckerbergs in Ireland.

But there are very wealthy people in Ireland (including billionaires and millionaires) who skew the figures obviously. You understand what average v median means right?



It was discussed earlier in the thread, the CSO don't publish the median salary for the individual. The best they come up with is median income for households. In dual earning households it's 40k or therabouts after tax and transfers. So 20k per person after tax and transfers to put a crude figure on it. Not as pretty a picture as 47k.

Interested Observer

Yurt! wrote: »

But there are very wealthy people in Ireland (including billionaires and millionaires) who skew the figures obviously. You understand what average v median means right?



It was discussed earlier in the thread, the CSO don't publish the median salary for the individual. The best they come up with is median income for households. In dual earning households it's 40k or therabouts after tax and transfers. So 20k per person after tax and transfers to put a crude figure on it. Not as pretty a picture as 47k.

What on earth is with people like you in this thread responding to everything with these idiotic attempts at being condescending? You made a claim, you offered absolutely nothing to back it up, and you're still not comparing like-with-like. The average figure given (46k-ish) is for full time workers, i.e. the sorts of people who might be looking to buy a house. The household median figure is useless. And even looking back to the post that gave those figures:

For hh where the head person works, the median disp income is 54,227.

lainey_d_123

Interested Observer wrote: »

What on earth is with people like you in this thread responding to everything with these idiotic attempts at being condescending? You made a claim, you offered absolutely nothing to back it up, and you're still not comparing like-with-like. The average figure given (46k-ish) is for full time workers, i.e. the sorts of people who might be looking to buy a house. The household median figure is useless. And even looking back to the post that gave those figures:

How is it useless?

Yurt2

Interested Observer wrote: »

What on earth is with people like you in this thread responding to everything with these idiotic attempts at being condescending? You made a claim, you offered absolutely nothing to back it up, and you're still not comparing like-with-like. The average figure given (46k-ish) is for full time workers, i.e. the sorts of people who might be looking to buy a house. The household median figure is useless. And even looking back to the post that gave those figures:

If you think the average of 47k is where most people are at I have a bridge in Brooklyn that I would like to sell you. You fundamentally don't understand statistics if you think all the Joe soaps you meet are walking around with a wage of 47k. If that were true then we wouldn't be having this discussion.

Single earning households are much more likely from the wealthy end of the distribution, and I shouldn't have to explain why.

The CSO stats are the CSO stats. Dual earning households, the vast majority of working families, have a median income of 40k (or 20k per head after taxes for the hard of understanding) If you don't like it, give the CSO a call.

"Go on then"

Remind me, was that me or you?

Interested Observer

lainey_d_123 wrote: »

How is it useless?

The topic of this thread is how someone in their 30s might buy a house. Here are some of the categories this 30 something year olds might fit into and their median household salaries:

Two adults under 65years old - 46k
Third level non-degree (highest education level attained) - 50k
Head of house (whatever that means) at work - 54k
Two people at work in the household - 62k
Head of house has 3rd level education - 64k

Link: https://www.cso.ie/en/releasesandpublications/ep/p-silc/surveyonincomeandlivingconditionssilc2017/income/

Interested Observer

Yurt! wrote: »

Dual earning households, the vast majority of working families, have a median income of 40k (or 20k per head after taxes for the hard of understanding) If you don't like it, give the CSO a call.

"Go on then"

Remind me, was that me or you?

That is absolutely not what the CSO stats say. They say the median earnings over ALL households is 40k, including retirees, unemployed, disability recipients, students etc. It's all at the link I posted above, table 2.1a.

Yurt2

Interested Observer wrote: »

The topic of this thread is how someone in their 30s might buy a house. Here are some of the categories this 30 something year olds might fit into and their median household salaries:

Two adults under 65years old - 46k
Third level non-degree (highest education level attained) - 50k
Head of house (whatever that means) at work - 54k
Two people at work in the household - 62k
Head of house has 3rd level education - 64k

Link: https://www.cso.ie/en/releasesandpublications/ep/p-silc/surveyonincomeandlivingconditionssilc2017/income/

Two people at work in the household 64k. Divide that by two there.

I'll give you time...

Get back to me when it's 47k

Interested Observer

Yurt! wrote: »

Two people at work in the household 64k. Divide that by two there.

I'll give you time...

Get back to me when it's 47k

I can be a dick as well - do you understand what 'disposable income' is?

Yurt2

Interested Observer wrote: »

I can be a dick as well - do you understand what 'disposable income' is?

Sure do. Does it add up to 47k per head before tax?

Again, I'll give you time...

Edit: btw you made the claim in your post these figures were salaries and not net income after tax and social transfers. You're all over the map.

Interested Observer

Why am I bothering.

20k disposable per person in dual income - absolute verifiable nonsense.

Yurt2

Interested Observer wrote: »

Why am I bothering.

20k disposable per person in dual income - absolute verifiable nonsense.

I never made that claim. I said it's the median income, which it is. It's in the first line of the CSO link you put up.

Interested Observer

Yurt! wrote: »

I never made that claim.

Ok.

Yurt! wrote: »

In dual earning households it's 40k or therabouts after tax and transfers. So 20k per person after tax and transfers to put a crude figure on it. Not as pretty a picture as 47k.

Graham

Yurt! wrote: »

But there are very wealthy people in Ireland (including billionaires and millionaires) who skew the figures obviously. You understand what average v median means right?

It was discussed earlier in the thread, the CSO don't publish the median salary for the individual. The best they come up with is median income for households. In dual earning households it's 40k or therabouts after tax and transfers. So 20k per person after tax and transfers to put a crude figure on it. Not as pretty a picture as 47k.

If we're discussing average income/salary/wages, millionaires/billionaire aren't automatically going to skew the averages unless they are resident millionaires/billionaires and their annual income/salary/wage is in the millions/billions.