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

So you want a gaff in Dublin or beside mammy or right beside your job maybe a mansion off Killiney over looking the sea there how does that sound? Just to be clear there is a very small % of people in this country (regardless of their age) who actually live where they would ideally like too anyone of my age (friends , family) bought a house where they could afford kept saving and then upgraded and/or moved closer to their ideal location and to a house with a specification that suited them or they upgraded their current house, also people have been commuting into Dublin for over 4/5 decades now its not just a new phenomenon, its just now the whinging levels seem to have accelerated in the last 10/15 years or so about how unfair it is. I mean with working from home on the rise it should ease the attractiveness of Dublin and hopefully other areas once deemed less desirable will be more attractive for buyers. Also there are houses a lot closer with in reach than Longford I did the calcs on 2 people on the median wage and the average house price in Ireland and how affordable it actually is when you break the figures down. So look not trying to start an argument and I wish you the best with what ever you do but if you dont want to buy that's your decision, if you make that decision then the results (prices continue to rise) are on your own shoulders and don't look to shift the blame elsewhere. We need houses built and regardless of what Sinn Fein are spinning I cant see it happening as we have not got the appropriate levels of skilled laborers to build what we need.

So people in the last decade the so called older crew, have they not seen a lot of additional tax? I mean I am paying over 51 cent of every euro I earn after 37k on some of my cash I am paying 58 cent on every euro earned? Have we not had a property tax also added onto us after paying 8% stamp duty. I understand people being annoyed with banks and developers but here is a little nugget of info, before the pandemic we owed about 220billion for borrowings over the last 15 years since 08. Only 40billion of that is down to banks. Now why was the rest borrowed?? The costs we have had to pay with regards to our public sector pay and pensions and our welfare system are the 2 main culprit of these borrowings and have cost us a hell of a lot more than all of the banks combined. So your right government policy they are the ones who people should be angry at, as I say its not like people in their 50/60s got together and went right lets phuck over the younger crew and make sure our house price continues to go up, thats kind of ridiculous. All they did was vote, if people in their 20s/30s dont want to vote and they dont vote in any great number when compared to older people then when public policy goes against them I find it a bit fanciful that they blame everyone else but themselves

See this is where the behavioral shift is seen you have just pointed out something that is a huge differential in attitude between the generations. If I could of only afforded a 3 bed that needed work to be done to it, I would of bought it and done it up one room at a time, like I did in my first house. It took 8/9 years to have it finished the way I wanted.

Do whats right for yourself, no one is asking you do to anything but blaming people who own a house on the current situation is wrong they did not put the issues that people currently have with buying in their way, yet they are being scapegoated by those who cant afford to buy and when suggestions like moving further a field which a lot of people in in their 40/50/60s did and then gradually moved back in towards somewhere closer to where they ideally wanted to live we have posts like yours which completely ignores the fact that before the snowflake generation (hate using that term but you used it) people were doing what your so outraged about with out any p1ssing and moaning

Mayfield is a fine place with fine people. A suburb close to the city centre of our second city. If it's not good enough for you there is plenty polish, etc. That will scoop up the value.

Well i just can't see the problem. I'm 39 with a modest job and I have bought 3 houses. I posted a fine house in cork city for 250k and it's not good enough for people. I can buy it today and get 6 to 7 percent rental yield on it.

Taxation in this county is a deterrent for working why would people do O.T if they are losing over 50% of it on tax, inconvenient does not even come close to how punitive it is and the other side is you get very little in the way of decent services in return for the tax that you pay in Ireland.When your calculating property tax make sure you factor in the 8% stamp duty people paid pre 08 and then see where stack up.

With regards to the spending we had borrowed over 120 billion before the 08 crash it had nothing to do with the property market or the banks it was Bertie Ahern buying votes. 2 rounds of benchmarking anyone. I 100% agree with you on the Public sectyor.

Your last statement is a little naive governments get voted in on policy therefore they will act in a way that suits themselves first then those who voted for them second why would they do things for people who wont vote for them are you not aware that politicians suit themselves first and their main remit is re-election not the interests of its citizens. Also not one government party has followed through on what they spin to get into power so Oath or not I think the last cohort of people that a politician will have on their mind when they are working (it does happen rarely do :) ) will be people who do not vote in any great number, why would they?

The inter generational blame game thing is wearisome. We do not all fall neatly into stereotypes based on what year we were born or when or how the economic crash happened and had our own hardships and swings in life and vice versa.

I'm a person in my mid-forties now who just bought my first home last year after renting for over 20 years..some might say I was reckless renting that long but it meant I had flexibility when it came to career decisions and I was able to up and go if needed at short notice. I just kept putting money away and building up for a deposit and saving for the rainy day all through the noughties and 2010 - 2020 period. Not everyone currently in their 40's - 50's "partied", had access to these mortgages or accepted a 100% or 110% mortgage even if it was there for the taking.

I graduated as a mature student in 2004 and went into my first post 3rd level job on 19,000 Euro Salary working and renting a room in the midlands. By the time the crash happened in 08' I was only then earning enough (24K) to have the discretionary income to afford a 3 year old second hand car on loan. That was as good as it got. I had the occasional lads weekend away and bargain holiday in the Sun. I worked and took my holidays as annual leave would allow. I worked hard and got promoted within my company. I was loyal to that company for 12 years which managed to survive the crash in the short term. That was rewarded in terms of a good salary at that time which I mostly saved. The latter 2011 - 2021 period was spent living in Dublin and paying big rental outgoings compared to what I was used to living in the midlands.

I met my wife to be in 2016 and changed jobs in 2017 taking a 25% percent pay decrease when the company I'd worked for went into administration (the short term finance repayment that kept the company afloat during 2008-2010 caught up eventually). I struggled between 2017 and 2020 with finding new employment and having a reduced wage and had to find new cheaper rental accommodation. By the time 2020 came around I could have bought in Dublin by myself, but at a stretch. I could afford a modest property but we decided we would try and buy together a house for us and maybe a family. We were outbid multiple times for nice 3/4 bed semi detached properties in nice parts of the city. It was demoralising after a year of house hunting to be continually outbid but we were up against lots of other couples (most of them younger than us!) wanting the same thing. There is just not enough supply of property in the most sought after areas, especially in Dublin.

We made a decision to look outside Dublin and buy where we could both cycle to the nearest town and live on a bus route. We have both taken a leap of faith as regards our career prospects and taken up new jobs with new employers and reduced salaries. I miss friends and a lifestyle I've grown accustomed to in Dublin but feel pretty pragmatic about it. You have to cut your coat according to your cloth. The car I drive now is an older model older than the one I bought in 2007, but it is reliable. We always have to compromise on the good things in life but things never remain the same. I can appreciate the difficulties younger people / couples in their 20's and 30's, particularly in in demand areas in Irish cities are currently facing but there are so many options and possibilities to counter the difficulty. Time and patience also can be rewarded so keep putting away the pennies and the pounds will look after themselves.

some people cant afford to buy in Dublin the areas of the country are affordable but they dont want to do this

I didn't buy since 2013. Just saying there is good value there and can't understand what the problem is. House in Mayfield not good enough. House in South side too expensive. House in country too far away. No such thing as compromise with these whingers it seems.

I have gone through the maths on here and a couple on the median wage and buying a house at the average price in Irelandis affordable. There will always be couples who cant afford to buy anywhere due to their earnings and there will always be couples who cant buy where they want and this has always been the case.

Do you think the rates will remain low forever there will come a crunch point in the not too distant future we were already spending too much before the pandemic and we are heading towards 300billion in debt. if that gets rolled over at even 1% interest rates that adds 3 billion a year extra to our spend.

This is depressing read.

Correct. Some people want to live in Dublin. Like myself. A change of county would mean new schools, new jobs, no childcare, no family. I would rather rent in Dublin than move out of it.