"average Dublin house prices should fall to ‘the €300,000 mark" according to Many Lou McD.

Clo-Clo

https://www.boards.ie/discussion/comment/121521151#Comment_121521151

House price is 400k

This includes land, materials, labour, profit etc

You increase wages to buy the 400k are you not going to increase the wages of the construction people involved?

So you increase wages but the cost of the house will also increase and this will increase the price.

People are buying houses at the moment, we just need more, hence why I am saying in built up areas apartments make more sense to build because they will reduce the cost and then the price plus increase the supply.

Also building more and more houses drive up the cost to provide services to them, you are going outwards and not upwards. Outwards means more trains/buses etc to try move people around. Other major cities go upwards because of this

Clo-Clo

https://www.boards.ie/discussion/comment/121521177#Comment_121521177

The average person in reality in Ireland can buy these houses. Houses are been bought every day by people in Ireland. Majority of new houses been build are been bought by people.

It does depend on what you consider "average".

Flaneur OBrien

https://www.boards.ie/discussion/comment/121521171#Comment_121521171

https://www.boards.ie/discussion/comment/121521275#Comment_121521275

What I'm reading here is that if you have a menial job, say working in a Tesco or in construction, you shouldn't be able to buy a home in case it increases the price?

I don't particularly want to live in a country where only wealthy people can buy/hoard property.

Maybe a limit as to how many properties a private individual can own? Or tax them more for multiple properties?

We've really got ourselves in a catch 22 situation where we cannot build as we don't have enough builders in the country to build enough, yet we also don't have enough accommodation to hire foreign builders to build houses as it is!

BillyHaelyRaeCyrus

https://www.boards.ie/discussion/comment/121521283#Comment_121521283

The average income is about 45,000, by nature more than half of people earn less than that. The median income (50% earn more and 50% less) of home buyers in 74,000. So the average buyer is earning over 1/3rd more than the average income. So no, the average person cannot buy a home.

And even if the average person could afford these houses, that would mean that over half of people cant. If the goal is for the average person to own then half of people will be renting.

Surely the goal is to go back to our former norms, that worked. 80% home ownership, 15% social housing, 5% (students, new arrivals) private rental. Which was the case in the 1990s (see CSO stats below)

https://www.morganmckinley.com/ie/salary-guide#:~:text=The%20average%20salary%20in%20Ireland%20is%20around%20%E2%82%AC45%2C000.,year%20(pre-tax).

https://www.breakingnews.ie/business/typical-income-of-first-time-buyers-of-new-homes-now-above-e90000-1479884.html

https://www.cso.ie/en/releasesandpublications/ep/p-cp1hii/cp1hii/tr/

BillyHaelyRaeCyrus

https://www.boards.ie/discussion/comment/121521350#Comment_121521350

The people here believe that if you are single and on twice the minimum wage you should'nt expect to own a home in Dublin, never mind someone in tesco. Its disgusting

phonypony

https://www.boards.ie/discussion/comment/121520378#Comment_121520378

In another post you figured it would take you 4 years to save 40k, now it's 7 years to save 30k? You need to work on your figures.

You say you've earned 55,600 this year, that's potentially a NET of over 3,400 per month, almost 3,500 from January. Your rental costs 1,400 a month. If you can't live on and save a decent amount from the remaining 2,000+, this is very much a 'you' problem.

Clo-Clo

https://www.boards.ie/discussion/comment/121521362#Comment_121521362

Why does an average person need a house? they should be buying an apartment should they not?

If the average for one person is 45,000 then for a couple it is 90,000.

Our goal should be to have a more stable mix of apartments and houses. We are concentrating on houses which is blocking people out of the market who should be buying apartments. When I was young I didn't want a house and all the bills that go with it. Trying to heat a 3 bedroom house when I only need to use less than 50% of it? how does that make sense.

If you build large complex of apartments with amenities this will reduce the price of the apartments and cater for the average person.

Clo-Clo

https://www.boards.ie/discussion/comment/121521350#Comment_121521350

You have jumped from "average" to "menial"

Maybe you can define what you mean? I don't think anyone working in Tesco or construction would classify their jobs as "menial" but it depends on what you mean by that

mrslancaster

https://www.boards.ie/discussion/comment/121520578#Comment_121520578

It is odd that many voters think that a party who have never before been in government, with candidates who have zero experience in any portfolio, could do a better job than those with experience.

Imagine the chaos in an organisation if every single member of experienced staff was made redundant, and the business started again with a completely new team of entry level people in every job. It wouldn't be even vaguely considered in any other sector.

Former Former Former

Worth remembering that SF have deliberately obstructed housing supply by serial objections to planning

Mary Lou has personally objected to planning for 2000 units in her own constituency in recent years

Clo-Clo

https://www.boards.ie/discussion/comment/121521417#Comment_121521417

Yes which has massively forced up the cost of housing, the planning permission cost millions to submit and every rejection drives up house and apartment prices,

People seem to forget part of the reason house prices are so high is because of Sinn Fein

As I pointed out before as well, Sinn Fein ran DCC from 2014 to 2019 and during a population growth they ended up with less social units than when they started which again put huge pressure on the system.

Sinn Fein have never been and never will be the answer to housing in Ireland

BillyHaelyRaeCyrus

https://www.boards.ie/discussion/comment/121521376#Comment_121521376

I can save about 700 a month. Thats 7000 a year (2 months not saved, December for xmas expense and a summer holiday). So thats 6 years to reach a deposit

6 years of living on a really tight budget is not acceptable. We need a measure of accepting proving payments of rent to by pass deposit rules. For so many renters, its the deposit that makes it impossible.

Clo-Clo

https://www.boards.ie/discussion/comment/121521410#Comment_121521410

Well Sinn Fein are in government in Northern Ireland and are a total disaster, yet Sinn Fein supporters will tell you that not their fault with the other millions of ecuses they have for their incompetence.

Bogwoppit

https://www.boards.ie/discussion/comment/121521436#Comment_121521436

So again, you’re not willing to make sacrifices to get where you want. Sacrifices that others including your grandparents have made.

This is a you problem.

BillyHaelyRaeCyrus

https://www.boards.ie/discussion/comment/121521466#Comment_121521466

My grandparents never saved a deposit, they got a council house in the 50s and bought it for nothing in the 80s.

Clo-Clo

https://www.boards.ie/discussion/comment/121521466#Comment_121521466

Bingo, I saved for a lot more than 6 years to build up my finances to purchase.

In reality the people starting to work in the boom didn't have parents who could give them money for a deposit, me included because my parents had worked during the 70/80 when they had to scrap for everything.

It's now people who are getting the benefits of the Celtic Tiger when people saved money and made decision so they could leave a little nest egg for their children and this is seen as terrible?

It's just good old Irish begrudgery IMO

Bogwoppit

https://www.boards.ie/discussion/comment/121521472#Comment_121521472

So now you’re admitting you want a free house!

Off you trot to Glasgow and don’t let the door hit your backside on the way out.

Clo-Clo

https://www.boards.ie/discussion/comment/121521483#Comment_121521483

Bingo, and this is a lot of Sinn Fein voters, think if they vote them in they will be handed the keys to a free house so they can go on holidays etc and spend as they like.

BillyHaelyRaeCyrus

https://www.boards.ie/discussion/comment/121521483#Comment_121521483

No, I want to continue working two jobs and pay for a home. The deposit scale makes it impossible or detrimental to living standards. If someone has never missed a rental payment for over 3 years, and the mortgage they wont translates to 2/3rds of less of their rent per month, they should not require a deposit.

My siblings bought with 100% mortgages (I think one case was 110% and they got a car) on leaving college in the 2000s.

7 or 6 years of savings would mean being over 40 by the time I buy. I dont think people will view you as a success buying at 40. So Id see now benefit from it, may as well rent where I enjoy living until I get inheritance when the folks die and their house is sold

deirdremf

https://www.boards.ie/discussion/comment/121520462#Comment_121520462

You keep introducing these red herrings.

Dublin has need of a very large class of people to keep all aspects of the city running while those rapacious individuals in a small few professions gobble up everything else. Living in Annascaul and working in Cork will not result in the children of Foxrock getting an education, or their parents getting their clothes cleaned or their latte prepared, just can't be done.

phonypony

https://www.boards.ie/discussion/comment/121521436#Comment_121521436

Speaking as someone saving every penny to be able to afford a home, you're not trying hard enough. That's a living cost of ~16,000 per year outside of rent. You have to make sacrifices; forget the summer holiday, reduce the xmas spending. You're essentially looking for a handout and not willing to maximise your effort.

The deposit rules are there for very good reason, partly to prevent the reckless lending and spending of the Celtic Tiger era you seem so fond off. Your ability to pay rent is already considered when it comes to your affordability to make mortgage repayments, but you want it to also allow you to forgo proving the ability to manage your money, live within your means and save a measly 10% of the purchase price of a home?

BillyHaelyRaeCyrus

https://www.boards.ie/discussion/comment/121521534#Comment_121521534

It would be much more than 10%, you can only get an 80% mortgage on a 1 bed. And Id need to make up a large difference from mortgage offer to house price to get anything bigger in Dublin so Im looking at least 40k needed.

I wont go without a holiday or else why even work, I cant avoid buying xmas presents and spending on work and family xmas parties (thats all cost nearly 1000 this year). You lot want people miserable and then complain people dont vote for it. I doubt many here commenting go without their summer holiday

deirdremf

https://www.boards.ie/discussion/comment/121521205#Comment_121521205

Maybe it's time for the state to be hard on the banks rather than giving them all our money.

The way the Dáil voted to save the banks rather than the economy has led us to this current situation - the banks were never reformed, they were just sent to the Dunces' corner for a couple of years and then allowed to continue much as before by the goevernment's actions to shore up the housing market above all else.

Dravokivich

https://www.boards.ie/discussion/comment/121519688#Comment_121519688

A couple. Well, that's a risk I'm not willing to take in itself.

deirdremf

https://www.boards.ie/discussion/comment/121521410#Comment_121521410

It is odd that many voters think that a party who have never before been in government, with candidates who have zero experience in any portfolio, could do a better job than those with experience.

Not at all.

What is odd is that some people think that those who have fkked up the country again and again are now going to turn around and solve the problems somehow. Now that is a seriously weird thing to think!

phonypony

https://www.boards.ie/discussion/comment/121521552#Comment_121521552

I have forgone a holiday for 4 years, because it will allow me to save a more substantial deposit more quickly. I have reduced spending on food, clothes, transport, gifts, everything, because that's what it takes. I have availed of free or subsidised training and education to add to my knowledge and skills, making myself more attractive to other employers who may offer me an increased salary. I will still be over 40 by the time I purchase a home.

So you can continue to live as you do, moaning about not being given a handout and stunting your ability to own that home by retirement, or you can be realistic and take action now.

Kaisr Sose

https://www.boards.ie/discussion/comment/121519639#Comment_121519639

Not sure it's been said in thread already...what happened when you were growing up was not normal or sustainable. People buying new cars and holiday homes, her, Spain, Bulgaria, etc., all on credit should not be normalised for any generation.

My parents bought a house in 1956, worked hard, took in a lodger, had no holidays. That was normal for them.

BillyHaelyRaeCyrus

https://www.boards.ie/discussion/comment/121521573#Comment_121521573

Or I can vote for change so that this country is not run for the rich but instead for working people, and hopefully we can have the type of rental market (with strong government involvement) where I can pay my rent with security, make a home and have the social safety net that will keep me in it or in a suitable replacement in retirement, like most developed European countries (social democracies) have. The cost rental model appears the best option for someone in my shoes too and SF are pledging to build masses of it.

BillyHaelyRaeCyrus

https://www.boards.ie/discussion/comment/121521580#Comment_121521580

You need to understand that for most people under 40 (and judging by the level of Armani and Canada Goose I see on teens its worse for under 20s) grew with with that as our base level of normal. Thats the measure of life for us, so anything less and we are unhappy, like I feel like a failure for my lot in life. So we wont vote back in parties that have us living below our base standard.

When I can afford to turn on the heating without giving it a financial thought. When home ownership reaches over 80% again. When we see no cars on the road over 5 years old and the 5 year old ones are driven by 17 year olds (my memories of 2006/07), when my co workers are doing their xmas shopping in New York again, then we can talk about a recovery.

GreeBo

https://www.boards.ie/discussion/comment/121518594#Comment_121518594

What figures are you using to come up with €300K being "the right price" in any economy?