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Boomer Wealth
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PokeHerKing wrote: »People are not being forced into relationships. You really do have a love of the extremes. It's harder for a single person to buy because their single salary is usually up against x2 salaries.
I know single people who live alone, in house shares and none of them have felt the need to shack up with an abuser instead.
There's plenty of options out there, move to Paris/Brussels if you feel your hard earned dollar would work better for you. The extremes you so often spew is just rhetoric, it's not reality for the overwhelming majority of Irish people.
I know for a fact that I stayed in a bad relationship for far too long because I felt like leaving might be going from the frying pan into the fire. If single people were able to afford accommodation, situations like this wouldn't happen.
I know loads of people in London who moved in with partners too soon, or sooner than they'd have liked, because the alternative is having a terrible quality of life in a house full of randomers. If they'd been able to have their own little space, like those apartments I linked to, they'd have had more time and space to make these big life decisions and not rushed into them.
I love how you've basically admitted that buying is almost impossible for a single person, and now you're telling me I'm being dramatic by implying that people might get or stay in relationships for the wrong reasons. Wanting to meet a partner so you can afford to buy property is one of the main reasons people date in London. I know a lot of people who would stay happily single if it meant having a quality of life that wasn't awful.
BTW, I already have left Ireland. I think it's pretty bad that that was my only realistic option to have a decent quality of life - leave my friends and my life behind.0 -
To follow up my search for 3+ bed apartments in Limerick city (15 for sale, 11 of which were student accommodation centres (not 5 as I said last night)), I did a search of 1 bed apartments, and there were 2 in total.
So, if you are a single person looking to live alone, or a family of 2+ kids, there is very very little choice for you in terms of apartments.
By far the most available is 2 bed apartments (45 available), which would only suit in the long-term, a family with just 1 child.
The balance/range is well off.0 -
lainey_d_123 wrote: »I know for a fact that I stayed in a bad relationship for far too long because I felt like leaving might be going from the frying pan into the fire. If single people were able to afford accommodation, situations like this wouldn't happen.
I know loads of people in London who moved in with partners too soon, or sooner than they'd have liked, because the alternative is having a terrible quality of life in a house full of randomers. If they'd been able to have their own little space, like those apartments I linked to, they'd have had more time and space to make these big life decisions and not rushed into them.
I love how you've basically admitted that buying is almost impossible for a single person, and now you're telling me I'm being dramatic by implying that people might get or stay in relationships for the wrong reasons. Wanting to meet a partner so you can afford to buy property is one of the main reasons people date in London. I know a lot of people who would stay happily single if it meant having a quality of life that wasn't awful.
BTW, I already have left Ireland. I think it's pretty bad that that was my only realistic option to have a decent quality of life - leave my friends and my life behind.
I never said buying as a single person was impossible, I know a few who have. It won't get the vast majority their first choice, it will probably involve a few compromises. It that's the individuals choice.
Some people stay in bad relationships for fear of being alone also, I fail to see the relevance in people's personal decisions. The truth is anyone with a job and not completely financially dependent on their OH have options to leave. If they choose not to that's their call.
You just love stating extreme situations and claiming they're the norm and all part of a "boomer" conspiracy. You sound slightly unhinged if I'm honest.0 -
Which is more important to people in take for example Dublin . Home ownership or being near their family?0
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Ding! ding! ding! We have it, the chape site from the relatives. I knew something was up.
Look, I don't begrudge you your sweetheart site for your one-off in the slightest, but your situation is not everyone's situation, and patronising them when you don't have to go to the well like they do to secure their future just isn't helpful.
Ok. Then, how about mine? I bought a three bedroom townhouse in Carrigaline (Cork) about... 16/17 years ago (can't recall exactly). Bought into the construction of an estate. Full price was over 235k, although it cost me a fair wack more before the construction had been finished.
I also bought a small house (cottage) before that (70k, mostly my own money, with a relatively low loan), renovated it, held on to it for two years, and then sold it for a profit of 30k. That profit gave me the boost I needed in order to place the deposit and help with getting the mortgage from the bank.
I moved abroad with the Banking crash (and loss of job), since I wasn't able to afford paying the mortgage and other costs on my own. Rented it out, and it's stayed rented, because it's simply better to pay off a chunk of my mortgage through renting it, than my living there myself. [Just left negative equity, which is a glorious relief]
And I'd agree with what he's said. It's only patronizing because you don't want to hear it. Just like people here don't want to hear that their salary determines their purchasing power, and if they want to buy above that purchasing power, then they need to cover the missing chunk somehow. For me, it was/is, property resale.PokeHerKing wrote: »I never said buying as a single person was impossible, I know a few who have. It won't get the vast majority their first choice, it will probably involve a few compromises. It that's the individuals choice
I'm single. I was single when I got my mortgage, and I didn't have any financial help from my parents or anyone else.
The problem is that some people don't want to jump through the hoops building up the reserves needed to buy a house. Nice, simple, and doable on their salary.. regardless of their income. Which means expecting the State to step in somehow, because the system is unfair to them.0 -
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PokeHerKing wrote: »It literally states, back to level's last seen in 1971. So 50 years = static imo. As they say lies, damned lies, and statistics. Maybe I just have a sunnier disposition than you.
With respect I don't think I'm the one playing silly buggers with stats of the historic pattern of home ownership as 'static' given the figures set out in front of you.
Lies, damn lies and statistics indeed.0 -
You live in one of the wealthiest countries in the wealthiest time to be alive. Quit your moaning and do something to improve your life. Stop looking for someone else to do something for you. Grow up.
Do something to improve my life?
You mean other than emigrate multiple times, retrain several times, eventually get a well-paid job outside Ireland and do freelance work every weekend to save as much as I possibly can, while living an extremely frugal basically 'no spend' lifestyle? Is that what you mean?
Because I've done all those things, and it's still going to be tough for me to buy, but at least, yes, it might finally be possible in a few years. How are people on lower salaries doing essential jobs supposed to do it?
People like you and your 'I'm alright Jack' attitudes don't seem to get the notion of society.0 -
Deleted User wrote: »
And I'd agree with what he's said. It's only patronizing because you don't want to hear it. Just like people here don't want to hear that their salary determines their purchasing power, and if they want to buy above that purchasing power, then they need to cover the missing chunk somehow. For me, it was/is, property resale.
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This is one of the most 'no sh*t Sherlock' posts I've ever seen on the topic.
There is a cohort of the population entirely comfortable with the ever rising bar to purchase an affordable home, and there is the growing number shut-out and told to suck it up.
There are policy solutions to be taken around this that can ameliorate the problem, but some people don't want to even label it a problem and say "tough sh*t'0 -
lainey_d_123 wrote: »It's always the way, isn't it?
Person who has the privilege of being able to stay at home for years within commuting distance of a good job, paying nothing towards rent or food for any of that time and then building on cheap or free family land lecturing other people on what they should do to afford a house. :pac:
If you remember my earlier posts you will see that I even discussed with you that I house shared on my mid to late 20’s as work was too far from home but I never paid more than 300 euro a month rent.
I also graduated into the bust but had no interest in emigrating so I spend a lot of my 20’s doing a post grad which was funded but basically min wage so you probably need to readjust your assumptions.
Also as I said in another post, building is not cheap and land where I’m building is not expensive, I’m not going to start going into detail but I’ll put it this way my estimated completion costs would be higher than many of the house price ranges being discussed here and that’s with project managing and doing some work ourselves.0 -
This is an extremely sticky and controversial one. Using the the maxim of demoraphics are destiny, the generation born around 1950-60 were blessed from a population pyramid and historical context. Blessed from the reality that in the post-war wasteland of Europe, everything needed to be rebuilt and the demoraphics perfectly suited runway economic growth. Good luck to you trying to get them to concede that much of that generation's gains was dumb luck. The nadir came in the 80s, when Thatcher and Regan (and fellow travelers elsewhere) flipped.the script on the post-war settlement and decided to lock-in the gains made from certain cohorts and demoraphics at the expense of others via the financialisation of the economy for petty electoral gain.
Kids born around the millennium and after have a shocking hand dealt to them. We've built up a reserve of structural problems too numerous to list here, and they'll be the ones footing the bill socially. I'm not optimistic for their fate to be honest.
Problem with this is that not all boomers are rich many ended up poor. Likewise there are wealthy millennials.
I don't disagree about the difference in economic conditions and housing policies. But it's not just dumb luck. A lot of the wealthiest people I know are either the hardest working or cleverest people I know.0 -
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No it’s not sustainable long term, studies have shown that a long commute can have detrimental effects on mental and physical health. It can make for a poor work life balance. If others choose to do that of their own accord then that’s their own business, but I’m not signing up for it.
Sure, I can see that commuting long distances would be detrimental over extended periods, but life is generally about making compromises. If you don't want to commute, then you get a job closer to your home. Which probably means renting as opposed to buying, because probably your work is in an area with high property values.
You seem to be expecting a perfect lifestyle to be presented to you. Life has never been like that. When we're young, we take ****ty jobs until we're experienced enough to get better jobs. We rent crappy apartments, because we can't afford better ones, or we want to save money for something else. Typically, people don't get near to that perfect lifestyle until they reach their mid-late forties... and even there, people are still compromising and making sacrifices for what they have.Of course it would slow down my plans, and it’s also a huge financial risk. What if I don’t sell it for profit, what if it sells at a loss? What if I can’t sell it at all? What if it all goes wrong and I can’t come up with the 20% deposit needed to buy the next property?
You deal with it. I bought my place just before the Banking crash as an investment, hoping to sell it again for a bit of a profit. I've had to hold on to it for over a decade because of negative equity, and the loss would be too much to bear. It wasn't a bad investment, just bad timing. **** happens. Being an adult is about dealing with the crap that life throws your way.Do you not think it’s a bit reckless to be advising a person on a low income to take a huge gamble like that, when it’s very likely they’d never financially recover if it all went tits up? Particularly with the current borrowing rules in place?
Nope. I don't think it's reckless... I think it's the only reasonable way for you to get the dream home you referred to earlier (although TBH I think you should be aiming lower, as a single person).
So.. what's your answer? Expect the State to step in, at the taxpayers expense, to make life easier for you? You expect existing property owners to sell their properties at a loss or just to break even, just so that you can buy somewhere? Yeah, I got that "the system" is broken.. how do you expect it to be fixed without screwing other people? (Although I don't think there really is 'a system' as such)I don’t live in Dublin, nor do I ever want to live in Dublin. I live in another city with much poorer public transport, no DART or Luas and a very limited rural bus service. In some areas it’s non existent.
That’s why everyone here drives and why a commute would take me at least 2 hours each way on a good day.
Okay, so, someone else said you live in Cork. Grand. Two hours commute? This being mostly traffic jams, is my guess? Ever think about getting a motorcycle to cut down on such?
I bought my place in Carrigaline because I was working partially in Douglas and partially in the city center. And yes, I can see the delays in travelling/commuting. It doesn't change my opinion though. You seem to be expecting reality to change around you, rather than you change to deal with reality.And it’s not my idea of average either, google the average salary and then google the cost of the average house. Those are the statistics I’m referring to, not my own notions and ideas.
Yeah. The average price in Ireland. Meh. It's so inaccurate because of the costs of Dublin or Cork properties. Go ahead, and do a individual search by location and you'll find plenty of places below 200k.The reality is that the system is broken and it doesn’t work.
What system? There is no system, except for the sale and purchase of properties. There was never any intention to create a system to provide housing for everyone.... the expectation was that people would provide for themselves.It excludes the many and caters to the few.
People will want to live within reasonable distance of areas where there is access to gainful employment. It’s being made out like this is a lot to ask for, or that beggars are being choosers, but that isn’t the case.
Except that, it is the case... you just don't like that it is the case. We live in a capitalistic nation. You have the money, then you can get what you want. If you don't, then you don't get what you want. Simple enough.I don’t disagree that a complete overhaul of the public transport system would improve the situation but that’s just another example of how broken the system is overall. None of it is working.
The expectation that everyone can buy a house is the root problem because it takes up too much space. Housing estates take up too much room, especially for cities. Better transportation won't effectively have positive results because the city area will continue to expand because people will expect more houses to be made available... with that rising population.I don’t believe that this is the best the government can do for us, I just think the issue has grown and grown into such a massive problem that they don’t even know where to start with it.
Ahh well, I don't see this as being the responsibility of the government (except for better planning and logistics). I see it as a personal responsibility of the individual. You want the nice house, you earn the required sum. Can't afford it? lower your expectations.0 -
This is one of the most 'no sh*t Sherlock' posts I've ever seen on the topic.
There is a cohort of the population entirely comfortable with the ever rising bar to purchase an affordable home, and there is the growing number shut-out and told to suck it up.
There are policy solutions to be taken around this that can ameliorate the problem, but some people don't want to even label it a problem and say "tough sh*t'
How about "Man the **** up?"
You want A? Then do all that is required to get A. Not prepared to do all that's needed to get A? Ahh Shucks. Hmm.... Well, be happy with D, then. It's all on you. Deal with it.
And I'm not comfortable with the ever increasing costs in Ireland... Once I manage to sell my house for a marginal profit, I'll likely return to Ireland, and live in the countryside. Costs are far less in the Midlands, including property purchasing.0 -
Deleted User wrote: »How about "Man the **** up?"
You want A? Then do all that is required to get A. Not prepared to do all that's needed to get A? Ahh Shucks. Hmm.... Well, be happy with D, then. It's all on you. Deal with it.
And I'm not comfortable with the ever increasing costs in Ireland... Once I manage to sell my house for a marginal profit, I'll likely return to Ireland, and live in the countryside. Costs are far less in the Midlands, including property purchasing.
It isn't, though, it it?
This way of thinking assumes that everyone is starting from the same place. They're not.
You might think you weren't privileged in any way, but if you're even healthy and able bodied enough to hack a 2-hour commute each way, you're doing a hell of a lot better than many people, including myself.
Again, what about people who do essential jobs like nurses? I'm sure you'd be the first to complain if you had an accident in Dublin and you were left to die because no health workers could afford to live there, and they all took your advice and moved to Offaly.
The system is only still ticking over because there are enough individuals with a sense of social responsibility who want to do good, even if it's at great cost to themselves. If everyone thought like you, we'd be absolutely f*cked to hell.
Nobody is saying that nurses or street sweepers or baristas should be able to live next to Bono, but why should they not be able to own a modest, small flat, or be able to rent one without the fear of being kicked out after a year? Why do you think it's acceptable for people to have a sh1t quality of life just because they're earning average, or just below average wages?0 -
With respect I don't think I'm the one playing silly buggers with stats of the historic pattern of home ownership as 'static' given the figures set out in front of you.
Lies, damn lies and statistics indeed.
With respect, I stated home ownership rates are pretty much the same as they were 50 years ago and among the highest in the EU. You linked an independent article and CSO stats trying to refute this but in actual fact they just backed up my original statement.
Just because you cherry picked a point in the 90s when it peaked doesn't make my statement any less right.0 -
Leilani Fast Windbreak wrote: »I think you mentioned before that it’s cork city, I’m very familiar with cork and I’m sorry I don’t know where you are talking about commuting from thats 2 hours each way. You would commute from parts of co. Clare to cork in 2 hours or at the very least further than limerick.
I know people living well outside the city in places like clon and it’s only around an hours commute each way and realistically why would you even need to go that far there is plenty of places in between.
Also you can get decent places (apartments) in cork city for under 200k and there is lots of options in the suburbs from around 180 to 250kish range.
Aside from Dublin which I wouldn’t dream of living or working in there is nowhere in Ireland that your family could be living that you couldn’t get a house/apartment for at the absolute most 200k that was in a decent area within 20 mins or so if your home area.
I really don’t want to come across like I’m saying it’s easy to buy or get a mortgage but I do think people also exaggerate the difficulty of finding places, how far they would live away etc and I fully fully appreciate wanting to live close to family, I am building* next door to home and it’s something I have always wanted to do but im willing to have a commute of about 40 mins each way (current job) or anything up to a bit over an hour each way would be acceptable if it came to it. 2 hours each way is certainly not sustainable (if it’s every day of the week, Ok if it’s a mix of wfh and office) that I fully agree with you on.
*just to say that building isn’t cheap, far from it. So it’s not a cheap option or doesn’t mean we won’t need a big mortgage and a deposit but you get a lot more for your money.
If you think you could make it from Clon to the city in an hour on a weekday morning then I’m sorry but I simply don’t believe that you have any experience of Cork traffic.
Pre covid I was working near Mahon point , I live on the south side and a journey that would usually take 15 minutes takes at least 45 before/after work.
I had colleagues living in Carrigaline whose commute was an hour or so.
My brother works in Bandon and it takes him an hour and 20 minutes to get in and out of work every day, so I don’t think suggesting 2 hours commute is that unrealistic when it takes an hour to get across the city most mornings, particularly if you have to go through town, the dunkettle roundabout, or the tunnel.
And again, I’m not disputing that there may be properties available for around the 200k mark. What I am interested in is the difficultly of securing a mortgage for this amount, versus the rent costs for the same type of property.
And as usual, whenever I say this the conversation goes back to upskill/get a better job/move house/get a partner. All valid advice but it absolves those in power of responsibility for the current sh*t show.
It doesn’t acknowledge the reality that those things just won’t happen for some people.
And it doesn’t acknowledge that those people are then at a distinct, damaging disadvantage and the government are doing nothing to help. The answer seems to be to shrug our shoulders and say tough sh*t, you should have made a better choice.
My issue is that a mortgage is the significantly cheaper and more secure option but it excludes the lower earners, and the disparity of that. I don’t think everyone should be given mortgages for 300k houses but when we’re expecting these people to come up with €1800pm on the private market, it all seems a really hypocritical. That’s what I take issue with.
I’m really not here for advice on my own situation, particularly when it’s quite clear that no matter what obstacle I refer to, I’ll probably just be told to just get myself a 70k a year job and learn to compromise.
Access to affordable secure housing is a massive issue for a lot of people, you only need to look at the results of the last election to see how frustrated people are with the current system and how desperately they want change and for something to be done to help them.
I think when you are coming at this from a place of privilege it’s much harder to see how difficult it might be for people who didn’t have the same opportunities as you.0 -
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And as usual, whenever I say this the conversation goes back to upskill/get a better job/move house/get a partner. All valid advice but it absolves those in power of responsibility for the current sh*t show.
Those people (like, Good ole Bertie) were absolved of responsibility long ago. We're forced to deal with the results from decades of ineptitude, corruption, etc from our politicians who mismanaged this country prior and throughout the boom years.
The problem though is what do you realistically expect any present government to manage within the scope of their term in office?It doesn’t acknowledge the reality that those things just won’t happen for some people.
Sure, it does. We've all acknowledged that some people won't be able to afford a house, and will be forced into renting for the majority of their lives, or be forced to compromise by buying something far smaller less nice than what they wanted. We've simply pointed out the realities that what people can get is based on what resources they can bring to bear.And it doesn’t acknowledge that those people are then at a distinct, damaging disadvantage and the government are doing nothing to help. The answer seems to be to shrug our shoulders and say tough sh*t, you should have made a better choice.
Ahh well, this is the problem for many working class, and middle class. We're above the poorest members of society (who are supported and helped by the government/taxpayer), and because we're able to earn incomes above the poorest members, we're expected to look after ourselves. That's the case for pretty much everyone, except those who genuinely can't accumulate the wealth needed to buy anything.
And yes, the answer is that you should have made better life choices. It refers to dealing with your own decisions, and compensating for those 'mistakes'. I entered Finance, not because I loved studying/working in Finance, but because it was one of the highest paid industries at the time of my leaving certificate. I misjudged in college which area to enter, got my jobs and hit the rather low salary ceiling... and so I reskilled, and moved to another type of finance, starting at near the bottom again.
There are heaps of schemes and supports in Ireland for people who want to be educated. It's not easy but there are ways to gain support should you need it. Outside of that, the internet itself provides an endless number of resources for personal growth and professional learning... all of which can be translated into better employment, should you have the ambition to do so. I know that, because I've done it. Twice.<snip>
Access to affordable secure housing is a massive issue for a lot of people, you only need to look at the results of the last election to see how frustrated people are with the current system and how desperately they want change and for something to be done to help them.
Ahh well, I'd say a big part of that is this sense of entitlement that has arisen in Ireland, and the unwillingness to face the realities that previous generations accepted as a matter of course. There are problems with housing for certain groups, and that is a definite issue, however, in many cases that I've seen online, people have options but don't want to avail of those options, instead holding out until they get exactly what they want.I think when you are coming at this from a place of privilege it’s much harder to see how difficult it might be for people who didn’t have the same opportunities as you.
Place of privilege? I hear this a lot these days, but it ignores that very few people in Ireland genuinely had any real supports in making the lives they have. I went to college in my hometown, not a university (couldn't afford to live elsewhere). I paid my own fees and supported myself with part-time jobs throughout college. Throughout every stage of my adult life, I have paid everything for myself (apart from one year with welfare and back to education grant as a mature student).
Privilege? I find that people who harp on about 'others coming from a place of privilege' is such a cop out. I know very few people who ever received any substantial help from their parents/family. The vast majority put in the hard work, made the necessary sacrifices, and are still making sacrifices for the life they currently have. All this talk about privilege is an excuse to dodge taking responsibility for your own life.0 -
My issue is that a mortgage is the significantly cheaper and more secure option but it excludes the lower earners, and the disparity of that. I don’t think everyone should be given mortgages for 300k houses but when we’re expecting these people to come up with €1800pm on the private market, it all seems a really hypocritical. That’s what I take issue with.
€1800 is the number that you consistently quote for renting an apartment - is this really what people are paying in Cork? (I have no knowledge of that market). A quick search on Daft came back with several 1 bed apartments in Cork for c. €7/800 per month.
A mortgage of 180k over 30 years would be about €700 per month so I'm not disputing affordability but this €1800 number seems massively inflated? Unless maybe you are taking about a seriously swanky 1 bed apartment for €1800 which would obviously be a major luxury that would hamper any attempt to save for a mortgage.0 -
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[QUOTE=Deleted User;114526069]How about "Man the **** up?"
You want A? Then do all that is required to get A. Not prepared to do all that's needed to get A? Ahh Shucks. Hmm.... Well, be happy with D, then. It's all on you. Deal with it.
And I'm not comfortable with the ever increasing costs in Ireland... Once I manage to sell my house for a marginal profit, I'll likely return to Ireland, and live in the countryside. Costs are far less in the Midlands, including property purchasing.[/QUOTE]
I'll just deal with the first part of your post, because the last two paragraphs speak for themselves with the contradictions of the Irish property boondoggle.
So, in reply to your 'man the f*ck up' point, I'm a property owner, though not in Ireland. You don't need to lose any sleep about me or anyone else maning or womaning the f*ck up, and if that's what you have to offer the conversation because you think you're somehow on the upside of the Irish housing mess, you're in few more surprises in the next few years.
As someone who's in China I'm presuming not for the climate, scenery or the cuisine, and I'm guessing from your posts, with a complex relationship with debt, property and negative equity, you'd think you'd get that passing the problem down the line isn't the best fix in the world...
But, if you think getting a boot on someone else's neck in lieu of your own will solve yours, I can understand why you post the way you do.
Either way, "man the f*ck up" is a comment you could only expect from one side of the ledger, and is entirely unsurprising.0 -
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I'll just deal with the first part of your post, because the last two paragraphs speak for themselves with the contradictions of the Irish property boondoggle.
So, in reply to your 'man the f*ck up' point, I'm a property owner, though not in Ireland. You don't need to lose any sleep about me or anyone else maning or womaning the f*ck up, and if that's what you have to offer the conversation because you think you're somehow on the upside of the Irish housing mess, you're in few more surprises in the next few years.
hahahaha... Trust me on this. I have never felt on the upside since I majorly invested in a house in Ireland. The first investment was without a mortgage and that went fine because it was entirely my own money, and the timeframe was very short between purchase and sale. The second property, though. I've gone through the banking crash, recession, massive negative equity, rising costs and taxes, etc. So... no... I'm not feeling even remotely "on the upside".
And I've said far more in the previous pages than "man the **** up".. I used that in response to your own post. And I'm not losing any sleep about people who can't/won't do what's needed to get a property. There's always going to be people who expect others to provide for them.As someone who's in China I'm presuming not for the climate, scenery or the cuisine, and I'm guessing from your posts, with a complex relationship with debt, property and negative equity, you'd think you'd get that passing the problem down the line isn't the best fix in the world...
I'm living in China because I get paid well, my cost of living is tiny, and I have a decent quality of life. Although I do really enjoy the spicy cuisine from Sichuan.
There is no passing the problem down the line. I'm responsible for my liabilities, and should everything go to hell, which it has before, It was up to me to resolve the problems. Which is, as it should be, since that's what adults do. Make choices, and deal with the consequences of those choices, in addition to external factors such as a recession. I don't believe in putting my bad choices on to the shoulders of others.But, if you think getting a boot on someone else's neck in lieu of your own will solve yours, I can understand why you post the way you do.
Then you're reading into my posts, more than I've written, since I haven't suggested getting a boot on anyone's neck. Where did you get that from?Either way, "man the f*ck up" is a comment you could only expect from one side of the ledger, and is entirely unsurprising.
Yeah, well, your own posts have shown to be very one sided too, so it's unsurprising that you'd disagree with mine.0 -
PokeHerKing wrote: »Home ownership rates are at very similar rates now that they were in the 80s. The highest in EU. Your doomsday thoughts are the tip of your nose and nothing more.
Home ownership rates here used to be among the highest in the EU.
No longer.
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From that it looks like the wealthiest countries have less ownership, nothing too surprising.0
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From that it looks like the wealthiest countries have less ownership, nothing too surprising.
We also had a huge demographic shift from 2004 (the year ownership peaked) with the influx of vast numbers of people from the new EU states who needed rental accommodation, not ownership.
Ireland is a completely different country than what it was even 30 years ago. Historical comparisons are pretty useless.0 -
Anyway, per the Sunday Times, the new minister for housing is going to sort it out.0
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Certainly the traditional Irish habit of ownership is becoming increasing unlikely for more people. So while it's good to tackle those issues in our society. I think as an individual is worth exploring other ways of living and working. People here seem to be very reluctant to escape the rat race.
Blaming the boomers is a very negative and self defeating mindset.0 -
Hodors Appletart wrote: »Great post Dizzy
I grew up in the 80s my mam and dad bought the house in 1978 and I remember there were tears in the mid to late 80s when my mam became pregnant with my sister the youngest - it was going to be an even bigger struggle. My dad left a job and took a paycut so he could get into the then Dublin Corpo, now DCC - so he could have a "job for life" and a pension
we were absolutely on the breadline and I remember wearing clothes from older cousins that came in black bags
they worked damn hard to provide for us and they continue to provide for us and their grandkids still today
I'll never be able to tell them just how much I appreciate them for all they've done and continue to do
I know I'm 6 days late replying to this but, my kids still wear hand me downs from cousins and will continue to do so regardless of the income levels of my wife and I. That is not a hardship to kids, they don't care.0 -
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joeguevara wrote: »Which is more important to people in take for example Dublin . Home ownership or being near their family?
If youre getting the house off the council you beg and plead to be able to shout at your ma’s gaf from the back garden, if youre buying a gaf you’d want to be earning a haep of cash to live near your parents (dublin only) , many people have decided that commuting for 2-4 hours a day is totally worth it to have a roof over their heads, despite all family and friends still being in dublin, which really actually hurts them and their new community in the long run as they never really integrate or consider themselves as from meath/kildare/wicklow/louth , no money spent in the town etc.. weve now got commuter ghost towns appearing where anything more than a pub or a petrol station can’t survive0 -
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€1800 is the number that you consistently quote for renting an apartment - is this really what people are paying in Cork? (I have no knowledge of that market). A quick search on Daft came back with several 1 bed apartments in Cork for c. €7/800 per month.
A mortgage of 180k over 30 years would be about €700 per month so I'm not disputing affordability but this €1800 number seems massively inflated? Unless maybe you are taking about a seriously swanky 1 bed apartment for €1800 which would obviously be a major luxury that would hamper any attempt to save for a mortgage.
In dublin 1800 quid is relatively normal for a 2/3 bed , what people have to remember though is youre not just paying to live somewhere , the landlord probably owes 50% of that amount in tax and has to cover Maintainence etc.. if somewheres mortgage cost is 800 its rental income being 1600 is not unusual. Landlords all peg rents here on properties being able to ‘wash their own face’ so to speak paying the full mortgage amount after tax.
The single best thing we could do to lower rents is allow the full mortgage payment to come out pre tax and lower the tax on profits to 12.5% corporate rate , you’d have a glut of landlords enter the market and prices fall.0
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