What Will happen when Generation Rent Retire?

That's your problem not the banks.

The issue here is you can't afford what you desire. That's your problem no one else's, but it doesn't always have to be that way, you have a choice, but I get the impression you'd rather b1tch and moan on here and play the victim card than upskill, work hard and work your way up to a better paying job.

This thread should be closed, it's garbage.

I might move to Crete or somewhere similar. I'd sooner do the revolver and bottle of whiskey thing than pay €700k for a semi-detached in an anonymous boring leafy SCD estate with arsehole nosey neighbours comparing how much they paid and giving out about social housing. The primary reason I still live here is because I am making very good money in the tech sector and have been for two decades with rent expenditure about half the going market rate.

And contrary to what I've always thought about I actually don't think I want to retire anyway. I'm beginning to enjoy co-ordinating crisis situations in my track pants on Zoom.

You need to skill up and get to 50k-60k

Banks will give 4x earnings if you show potential earnings increase.

As I have said in another thread, there are plenty of properties for 200k in commuter towns close to rail stations. Sallins is an example.

Too many people think they have to buy a 3bed semi in a salubrious suburb. My first home was a one bed apartment in rathfarnham. People said I was crazy and "no-one wants a one bed" - it sold a week after going on the market.

I moved to a 2 bed townhouse, then moved out of Dublin to a 4 bed, then moved to where I am now and at a "young" 56 am mortgage free since last year.

I'd look for a one or two bed apartment in a commuter town.

Without being morbid, your parents will pass away at some point and what they leave you should be in your calculations for the future

Most generation rent folk will not rent for the entirety of their lives. At some stage, they will either improve their financial status, or lower expectations and buy something/somewhere less desirable. On top of that, once they retire, they are not restricted to living in a city, so even if they are renting, they can rent somewhere cheap in the countryside. They will likely also qualify for social welfare assistance if their pension can't cover basic rent.

Renting doesn't mean you are going to be homeless when you retire. It just makes it harder to have a comfortable/enjoyable retirement.

My grandmother raised my mother in a council house she bought, them my mother raised me in a council house that she bought. Both were low income workers, that option is not available for me and also for lots of other people. So is it really a good society if were worse off then the previous generation? Despite us supposedly being better off then before?

push salary and get up to 50k salary

Save 1k a month for 2 years

youve now 24k

banks will give 3.5 x 50k = 175k + 24k you saved

you now have 199k you can buy this 1 bed and repayments are €643.49 a month providing you get a 2.5% interest rate which is achievable.

https://www.daft.ie/for-sale/apartment-76-block-d2-bow-bridge-place-kilmainham-dublin-8/3823043

or if you get an exemption if 4x salary

you now have 224k you can buy this 2 bed

@ 722 euro a month.

https://www.daft.ie/for-sale/apartment-16-hampton-wood-green-saint-margarets-road-finglas-dublin-11/3821272

Welcome to Dublin

or option B

just keep complaining