Couples on 107K can’t afford a home

Francie Barrett

https://www.boards.ie/discussion/comment/122505690#Comment_122505690

Yep, the social contract has been wrecked.

The 40% tax rate kicks in at just €42k, the all-in tax rate (income tax + PRSI + USC) of 52% kicks in not far above that.

We've young people who are not on big money getting killed with ridiculous marginal rates of tax while still not being able to afford to buy a home.

While the government takes in record tax revenue, it's also launched record government spending. The 30 something year old higher rate taxpayer who can't even afford to buy a gaff sees little benefit though.

Beta Ray Bill

https://www.boards.ie/discussion/comment/122505866#Comment_122505866

Bank of Mam and Dad
I know people that earn around 120k combined and somehow managed to buy a property for €700k…

It also depends on what the expectation is on the people buying.
IE if you can only buy a one bed apartment as a couple earning €107k you may declare you cannot buy a home as that 1 bed apartment is below what your expectation is and you're not prepared to live there.

Buddy Bubs

https://www.boards.ie/discussion/comment/122505896#Comment_122505896

All that's going to do is push house prices up further. Absolutely guaranteed if it goes up to 5 x salary then demand for housing for sale will increase and so will price

mikep

I expect this report refers to new homes, but it doesn't seem clear.

I live in Tipp. Currently 298 properties less than 400 k

237 less than 300k

Is everyone looking for a new build??

Greengrass53

https://www.boards.ie/discussion/comment/122505866#Comment_122505866

Absolute twaddle to feed the bigots who will gobble it up and spew it out at the golf club to the applause of their deeply concerned peers.

GreenPanda99

https://www.boards.ie/discussion/comment/122505947#Comment_122505947

No only is is confined to new homes. Its confined to new build 3 bed semi-ds.

Cherry picked for results that generate clicks.

Greengrass53

Bionn an fhirinne searbh. Lambshank.

Beta Ray Bill

https://www.boards.ie/discussion/comment/122505947#Comment_122505947

I think so, there is very little 2nd hand stock, and also the work involved in renovations puts people off as labour prices are mental.

Like I know "Tilers" looking for €400+ a day, tiling was never an apprenticeship on it's own.

The days of DIY are coming to an end, I worked with lads that would hire a handyman to put a nail in a wall…..

Donald Trump

https://www.boards.ie/discussion/comment/122505909#Comment_122505909

I think the point is that the hypothetical couple on 107k with the specified deposit ready cannot get enough of a mortgage to purchase the average house. It's irrelevant whether profession X or Y actually earns more. Pick whatever combination of couple you want that gets you to 107k.

Gusser09

https://www.boards.ie/discussion/comment/122505939#Comment_122505939

That's what we keep hearing. I also think that the argument of increasing supply will bring prices down is nonsense. Developers are greedy.

We need more affordable housing. It's a bad state when Gardai, Civil Servants and teachers can't afford to buy even though they have permanent contracts.

We also need to build decent apartments for people who want to downsize. Our current approach to throwing up terrible apartments isn't working.

standardg60

https://www.boards.ie/discussion/comment/122506003#Comment_122506003

That's the problem, it's entirely hypothetical, and yes they could have picked any profession but deliberately chose Garda and nurse purely for clickbait. And as can be seen we already have people proclaiming shur it's a terrible state of affairs that a poor Garda and nurse can't afford a home.

Maybe the SCSI could do some proper research and find the average earnings of those who are actually buying these homes, instead of dreaming up John and Mary and declaring that they can't. It's all nonsense.

billie1b

https://www.boards.ie/discussion/comment/122505712#Comment_122505712

The airlines aren't being fined because the people are boarding at the other end with passports/documents and then flushing them or ripping them up and putting them in the bin before landing or in the airport toikets. I can tell you it us happening, everyday, multiple times a day

spurious

https://www.boards.ie/discussion/comment/122506076#Comment_122506076

And yet Ryanair say they make copies when presented with documents on boarding, so it really doesn't matter what flushing goes on.

ELM327

Clickbait nonsense. Our household unit income is just a little over that and we have bought 2 properties in the last 6 years.

Viscount Aggro

If said couples wanted to buy a property badly enough, they could do it.

Both move back home for a year or two, no rent, subsistence living… go hardcore with saving money. You only see the inside of a restaurant if you are working in it.

They could put away 60K a year.

Its more a case of "cant = wont"

Donald Trump

https://www.boards.ie/discussion/comment/122506075#Comment_122506075

Well you pick your own two specific friends who together might take home 107k between them, imagine them as a couple with a 10% deposit, and then conclude that they wouldn't get a mortgage to buy that average house, if it makes it easier to have a less hypothetical example.

billie1b

Yes, copies to prove they were given the documents to board the aircraft but the government won't accept copies as proof when the person requests undocumented migrant, they want physical passports/documents, so the person is granted their undocumented status even though the airline has proof of a passport. Aer Lingus do the same too by the way.

Podge_irl

https://www.boards.ie/discussion/comment/122506010#Comment_122506010

All businesses are greedy. Why people think housing alone will suddenly break from the supply and demand model requires some evidence - of which there is none. There is however masses of counter-evidence.

Building more reduces house prices and reduces rents. We just don't build enough.

jo187

https://www.boards.ie/discussion/comment/122505610#Comment_122505610

I was told by some in the hse if you are rejected by 3 gp in your area for these reasons thr hse will provide a GP for you.

LambshankRedemption

https://www.boards.ie/discussion/comment/122506159#Comment_122506159

I will follow that up but wont hold my breathe.

bloopy

https://www.boards.ie/discussion/comment/122506112#Comment_122506112

And if they don't have somewhere to move home to?

LambshankRedemption

https://www.boards.ie/discussion/comment/122506206#Comment_122506206

People like that don't exist as a minority.

Get Real

Our property market is mad and I'm willing to accept it needs fixing.

But I disagree with comments of "we're taxed too much in this country"

I was watching a video with a friend of a guy in Germany who was complaining how much I come tax he paid. Instantly my friend said "huh, he'd want to see how much we're paying in income tax here"

I pointed out to him that in fact, in the same salary, we pay less here. I then went onto the PWC budget 2024 website and showed him that fact.

On a salary of 40k, 50k,60k,70k...and continue.

Take 50k in Ireland. After paye, prsi, USC, you're coming out with 38,800 a year. This is lower income tax than:

Germany (32,272). Belgium (33,080) France (34,442) Netherlands (38,805) Italy (32,803) Spain (35,988) and various other EU countries are the same.

https://salaryaftertax.com

Enter various figures into the above website and have a look yourself. The website is accurate and takes into account all types of taxes and allowances applied to income in various countries and gives a detailed tax breakdown. It's bang on with the PWC tax calculator for Ireland too.

Viscount Aggro

A Garda couple moved in near me… mid 30s … 700K property.

dasdog

https://www.boards.ie/discussion/comment/122506200#Comment_122506200

Also register for a European Health Insurance Card (EHIC). I hadn't needed to see a doctor since 1999 until early this year and rang around but not a single practice was taking on new patients. Unfortunately I don't have a medical card but I was able to get seen in a clinic via my private health insurance (symptoms were listed under what they treat).

My fall back for what they don't treat will be a cheap flight to Bilbao/Madrid and get treatment under the EHIC.

Wanderer78

…and again, 'financialisation', what a train wreck!

Avatar in the Post

https://www.boards.ie/discussion/comment/122506076#Comment_122506076

How do they delete the details they used to book the flights?

Beta Ray Bill

https://www.boards.ie/discussion/comment/122506231#Comment_122506231

I think what people mean when they say that they're taxed to much is; that the services we have relative to the tax we pay when compared with the countries you've listed is not great.

Infra and services in Ireland is creaking badly…. like really badly.

It should be also noted that the cost of living in those countries is a bit less than it is in Ireland (depending on your lifestyle that is)

There's also a heap of stealth taxes like VRT, TV licence etc that we have to pay.

Dogsdodogsstuff

If you have 107k gross income, you can afford a home. It may not be what you want or where you want, but you can afford a home. The sacrifice of moving out a bit further to get a house/garden is one many people have to make.

I don’t live in a commuter town since 2006 because I wanted to leave Dublin , I did it because I had to compromise. My mother had to do the same when my dad died. I had a 90 minute commute in and out of Dublin while myself and my wife worked , with 3 kids.

You are not entitled to buy a house where you want to because it makes your life easier. The housing market and the mortgage system is flawed, but trying to blame foreigners is a load of bollox. The issues have been around far longer then Johnny Foreigner on the boat and the collapse of 2007 was fueled and compounded by letting people get more money for a mortgage.

There does need to be a more progressive, longer term solution offered but from what I gather ireland is in good company with housing crisis issues. Most countries have a similar sh*t system to handle this.

There is a disproportionate amount of focus on immigration relative to how much it’s actually adding to the problem. In terms of the country having an immigration policy beyond “take whatever immigrants we have to” , I agree it’s a load of crap and don’t support our open borders approach. I do want a far bigger regulation.

But for housing we need to Build a fundamentally sustainable and long term infrastructure plan to accommodate our increasing population and we will solve this. Focus on immigrants and we still have a housing crisis but people will just find some other target (politicians etc) to vent their frustrations when the actual problem hasn’t been addressed.