Irish Property Market chat II - *read mod note post #1 before posting*

Yeah unfortunately the reality is that public bodies are bad at delivering homes, their staff have no skin in the game, there are no profits to chase, no bonuses for early project completion, no chance of getting fired or promoted, long slow chains of council approval for each phase and if they design the houses themselves the council architects go out of their way to design something new, fresh and hard to build, the likes of Cairn and Glenveagh are far better at delivering homes because they specialise in it and are motivated to get them done.

The NCH is not a comparative example. Typically new major hospital projects are never completed on time and on budget, typically because the built project is often not the same project that it started as which is what people don't get. Changes to incorporated medical technology (which runs at a higher level of inflation) and operational process changes can result in significant design changes throughout the life of the project, which invariably cost.

@Timing belt is probably right. Once upon a time the state was a major investor in direct labour through training of apprentices, but now would have to openly compete in the market place. It is possible but would take time.

I agree the government need to start building affordable homes but their track record on this is bad, maybe the LDA will do better

this wont be easy, it ll be fraught with all sorts of complications and failures, but its the only way out of it, such an approach is mutually beneficial now, it has to be done, and fast

The problem with the NCH was that Consultants and Professors had too much say in the location of the Hospital. People familiar with building and construction knew that it should have been a Greenfield site. However Consultants and Professors did not want it too far away from other hospitals or universities as it would limit there earning ability.

There was absolutely no regard given to the feasibility of either site chosen. There is no room for a helicopter to land and a pad cannot be put on top of the building. 90% of people knew the sites were sh!the but the intelligencia knew better than the ordinary Plebs.

LA's and the public service in general have shown themselves of being incapable of managing and construction projects.

Don't agree with that, have only had bare dealings with both of them but found them professional and straightforward to deal with, why would they be building to better than the building regulations and I haven't heard of many loopholes in the building regs these days?

More importantly why should the tax payer be paying for social houses built to better than the building regulations, surely they should be as cheap and basic as possible?

No really comparing like for like though if a council/AHB is getting free/cheap government land, part 8 planning, exemptions from planning fees, unlimited money tree with no finance payments, all their staff wages are paid for by government, etc. Its tax payer subsidies that allow them to be cheap whereas a property developer gets none of that and still has to hand over 10% Part V.

absolutely, we have successfully set ourselves up to continually screw the squeezed middle, we have decided to effectively leave wealth untouched, but since tax needs to be paid, the default is always gonna be the middle, this is now an unsustainable situation, we have to start becoming radical, we have to engage in ideas such as perpetual deficits, and other methods of public funding, public banks etc, and we have to some how start taxing wealth, in all its forms, none of these will be easy, all fraught with problems, but....

it makes perfect sense to create public and social housing to high standards, because if we continue as is, it will be ultimately up to the squeezed middle to foot the bill again, in the future, thats you and/or your kids! new buildings should be made to long out last the lives of the original occupants, by not doing so, it just pushes on the requirements to future generations, i.e. your kids and grandkids, it has to stop somewhere. we know how to do this, there has been incredible advancements in building tech and materials etc, we currently just dont have the will, but i suspect its in the post!

1) There would be no revenue.

2) Private buyers would still compete with a limited amount of supplies.

But you have not answered my question of what about the people who purchased their houses who can't afford to bring them up to current regs that you want the council and public houses brought to.

Yet again we the squeezed middle get left behind.

They didn’t make the first move. The BOE didn’t have much of a choice but to not raise rates after US announcement yesterday. If they didn’t raise rates then strengthening dollar would just add to inflation in the UK.

Likewise all emerging markets will do similar and raise rates despite their economy’s not being robust because they will have Issued USD debt.

Interesting investors are now moving pilling into Real estate and Inflation linked bonds and commodities to hedge against inflation. This will result in upward pressure on housing prices.

.....keep living in an alternative reality! what booming economy?

who are these people, that are limiting their income?

where are these free houses?

come on lads, put your prejudices aside, and come into reality!

again, absolutely, the default towards the middle will ultimately fail, including the current retrofit program, the expectation is for the middle class to take on the bulk of the debts required to do so, i wont happen, only some that are willing and able to will, i suspect the majority wont. in order to do so, a major state grant scheme will need to be implemented, this probably wont occur under the current government, but will have to be in future governments

i suspect the process of raising rates will be stalled, if not back tracked upon, it ll certainly be very interesting to watch though

....and everyone has won from this, havent we!