The State is the one crowding out first time buyers, not investment funds

Fred Cryton

mariaalice wrote: »

Social housing is not going away, if social housing was not purchased from the developer and was built directly by the housing associations or local council there would still be competition for land and labor to build the houses so it would change nothing for the first-time buyer.

The council already gets 10% of any new estate. They also get north of 30% on State owned land.



The council should be barred completely from leasing out any of the remaining homes on a new estate.


Now THAT would make a difference to hard working first time buyers.

recyclops

There should be a time limit on how long a property is up for sale before it can be sold to investment funds for rent or to the council, the council are outbidding a lot of people were I grew up and its pushing the prices up for FTB who want to stay in the area.

JimmyVik

recyclops wrote: »

There should be a time limit on how long a property is up for sale before it can be sold to investment funds for rent or to the council, the council are outbidding a lot of people were I grew up and its pushing the prices up for FTB who want to stay in the area.

Then sellers will just wait for the council.

Part of the problem is giving houses to people not working, in areas where working people need houses. It should be the choice of council to decide where people get their subsidising house (or free!), not the recipier. Also, first time buyers a lot are looking for first house in ideal location instead of where they can afford.

thegetawaycar

This issue is HUGELY ignored. The council should stick to their 10% (maybe add 5/10% for charities) and the REITs should have a limit too.

At the moment the council are leasing in bulk all apartments in new builds from developers/REITs for no return after 25 years. No single FTB that wants an apartment can get one, they are all gone before going on the market.

Jinglejangle69

thegetawaycar wrote: »

This issue is HUGELY ignored. The council should stick to their 10% (maybe add 5/10% for charities) and the REITs should have a limit too.

At the moment the council are leasing in bulk all apartments in new builds from developers/REITs for no return after 25 years. No single FTB that wants an apartment can get one, they are all gone before going on the market.

People wanted the scam homeless situation sorted.

They fell for Maggie cash and Erica Flemings fake tears and stories cheered on from the likes of SF and PBP.

Not forgetting Apollo house.

They were conned.

I have some sympathy, not a lot though.

Madeoface

I was waiting for a bus in dun laoghaire this morning and had to watch in awe as one black eyed beaten up dishevelled waster took a piss in the bus shelter while his mate rolled up a joint, giving out yards about something of huge importance, probably the middle East situation.

Don't worry lads I thought to myself, it's going to get better, our local council is leasing ye brand new gaffs, right off the plans, in cabinteely next year. Though there is no off licence in the village however so ye might have to turn it down.

If I was to rent an apartment there it would cost about 1,800 for a one bed. But u guys need it, nay deserve it, free of charge as we don't understand moral hazard in this country.

Did you smash it

To compare Ireland to the rest of the EU..

Beasty

Threads merged

crooked cockney villain

Fact of the matter is, the affordability crisis has only intensified in the last few months. Prior to Covid, an ex corporation house in most parts of West Dublin seldom exceeded the 190K mark. A 3 bed semi in nearby, private built estates typically started at 210K. Not cheap, but not unaffordable for a couple on average wages.

In the last few months the ex corpo homes are far breaching 200 and the former 210's are going to 250. FF needs to act fast to get this back to where it was.

But they won't. And FG definitely won't. Whether SF can when they surely get in as part of a SF FF coalition in 2024 (because FG will never get with SF) remains to be seen.

ILoveYourVibes

Fred Cryton wrote: »

All the talk in the media about funds buying up property is misplaced. The anger is misdirected and should be focused at the State, the councils and so called "Approved housing bodies"



Let's be clear here. The REITs are just the middle men. Ultimately they are only doing this because they can lease to the council at guaranteed rent.


It is the council, backed by taxpayer funding, that is ultimately the real enemy of the hard working first time buyer. Let's not lose sight of that.



The answer here is for the government to get the heck out of the housing market and just let the private sector and private capital rip. Someone needs to stand up for the hard working first time buyer against the well funded councils housing their welfare class voters at enormous expense in desirable areas.

For every council house there was meant to be one on the private market or something wasn't there? Not sure.

They also need to cap house prices.

People need affordable houses.

crooked cockney villain

crooked cockney villain wrote: »

Fact of the matter is, the affordability crisis has only intensified in the last few months. Prior to Covid, an ex corporation house in most parts of West Dublin seldom exceeded the 190K mark. A 3 bed semi in nearby, private built estates typically started at 210K. Not cheap, but not unaffordable for a couple on average wages.

In the last few months the ex corpo homes are far breaching 200 and the former 210's are going to 250. FF needs to act fast to get this back to where it was.

But they won't. And FG definitely won't. Whether SF can when they surely get in as part of a SF FF coalition in 2024 (because FG will never get with SF) remains to be seen.

As an economy we have performed fairly well during Covid and a lot of people are hording a fook tonne of cash and ready to buy 1st and 2nd homes. This is leading to insane demand at the minute which is driving prices through the roof. Investment funds are also eager.

I think I'll be waiting for the next crash at least to buy. Can't see any value in the market. People are very keen to buy right now at sky high prices. At 33, I might even do another stint abroad for 2/3 years and see where the housing market eventually lands at.

Freight bandit

They want a renters market..

ThunbergsAreGo

State housing is the only one true housing.

All other housing is for profit, and evil

jmlad2020

This is terrible. Won't somebody please think about the Children who have to buy homes in the future

crooked cockney villain

It's also worth remembering that the housing crisis is only applicable to areas within easy commuting distance of Dublin. It is a Dublin crisis that only applies to Dubliners who, quite fairly, only want to live within the Dublin region. There is a glut of affordable property in most regional towns.

It is not a national crisis. Even towns within decent commuting distance of Dublin such as Dundalk have plenty of properties in reasonable areas for very affordable prices for even a single buyer with a bit of savings.

I get the feeling acknowledging this has TD's worried that rural voters will refuse to see their taxes going to subsidising housing for Dubs while they pay full whack of a very affordable amount.

Shebean

if a Clare native can't afford to live in Clare is it okay to suggest they move to Waterford? I think it's reasonable for people to seek accommodation in their own county were possible.

I see Barrister James Geoghegan the Fine Gael self professed 'Voice for generation locked out of the housing market', his words, lives in a 730,000 house, not in the Dublin Bay South area he's running in.

Classic Fine Gael.

Geuze

crooked cockney villain wrote: »

It's also worth remembering that the housing crisis is only applicable to areas within easy commuting distance of Dublin. It is a Dublin crisis that only applies to Dubliners who, quite fairly, only want to live within the Dublin region. There is a glut of affordable property in most regional towns.

I see your point, but I would add Cork and Galway to Dublin.

I'm not sure about Limerick.