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Housing supply issues affecting Europe -why?

  • 03-07-2022 5:01am
    #1
    Esho
    Registered Users, Registered Users 2 Posts: 679 ✭✭✭Esho


    According to the media, the lack of housing is affecting many European countries, not only Ireland.

    What caused this?



Best Answers

  • #1
    quokula
    Registered Users, Registered Users 2 Posts: 3,752 ✭✭✭quokula


    A once in a lifetime global pandemic followed by the biggest land war in Europe in almost a century.

    There was heavy disruption to building during the peak of the pandemic, and supply chains are still pretty screwed up as China is still locked down, while materials and resources from Russia and Ukraine have dried up which is continuing to push the costs of building up. At the same time there's a flood of refugees from Ukraine arriving across Europe pushing up demand.



  • #1
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Immigration



  • #1
    Irelandsnumberone
    Registered Users, Registered Users 2 Posts: 648 ✭✭✭Irelandsnumberone


    https://www.boards.ie/discussion/2058252834/housing-supply-issues-affecting-europe-why

    Greed



  • #1
    Drunken Oaf
    Registered Users, Registered Users 2 Posts: 63 ✭✭Drunken Oaf


    Always amazes me the online ranting and raving about how good Europeans have it housing wise.

    I wonder do French and German visitors to Ireland complain about how sh1t they have it with rented apartment living, at how the vast majority of city dwellers in Ireland live in spacious two storey terraced and semis with big back and front gardens, that while there is an affordability issue the houses only became truly out of control unaffordable for two brief periods in our history (2005 to 2009, 2021 to the present day).

    It's worth remembering two things about our housing crisis:

    • Outside of the areas close to our cities, housing is ridiculously affordable. Most counties in the BMW region have former council houses that would be affordable for a single person on relatively average wages.
    • The vast majority of the population live in homes they purchased at reasonably sensible prices. Only the cohort buying between 2005- 2009 and 2021 to today (however long this lasts) got burned




  • #1
    HerrKapitan
    Registered Users, Registered Users 2 Posts: 461 ✭✭HerrKapitan


    Because EU leaders have been attending think-ins run by the WEF and Klaus Schaub, for years, that promote a great reset.

    You will own nothing is one of their promotions for a new economic system. That includes owning property.


    But its all just coincidence that world happenings happen to be advantageous for numerous of their goals.



  • #1
    Drunken Oaf
    Registered Users, Registered Users 2 Posts: 63 ✭✭Drunken Oaf


    https://www.boards.ie/discussion/comment/119283047#Comment_119283047

    Actually by late 2019 into early 2020 Dublin prices had started to flatline at rates which were pretty damn affordable. Current surge caused by increased savings (no pubs, holidays, restaurants, commuting costs, shopping for 2 years on and off) plus being the only country in the western world to mostly shut construction for a combined 6 months.

    Private estates in D15 in 2020 averaging about 220 to 260.

    Ex council about 160 to 200.


    Now the ones that were 220 are looking for around the 300 mark. Ex council chancing their arm for as high as 270 (realistically probably go for 200 to 250)



  • #1
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    This problem has been a long time brewing and has a few components. It's redicoulously expensive to build in Ireland so there is little margin to build houses no one can afford. This has chocked off supply.

    The main issue is that quantititivr easing has disrupted the market. You may still have to pay 5% to get a mortgage, but if your a investment company you can easily borrow endless amounts of money at zero interest. Since the best rate of return you can get on your free money is property, the vulture funds have been buying up everything that available and renting it back to the public at vast profit. Supply and demand means that people have to pay whatever the landlords ask. Many investment funds are simply buying up properties and leaving them empty till they flip them at the top of the market.

    Recent immigration will also effect the supply of rental accommodation - but this is a minor factor in the bigger scheme of things.



  • #1
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Greed.

    Rising costs for the construction materials of housing, including the costs involved for the labour involved. The regulation and taxation of the industry which further hikes up the costs involved. The regulatory nature of the Planning Authority, which makes it difficult for certain developments, but makes it easy for others... so, there is greed for authority, and control.

    The overall cost of living in Ireland... whether it's the prices charged in shops, or the government charges/taxation on a wide variety of goods. Just think of the differences in price for common items, or even "luxury" items over a decade, two decades, etc. No way that the rises in costs should have been so strong over those periods without greed being involved.

    It amazes me just how expensive Ireland has become over 2 decades. The same for other nations. When they become prosperous, prices go up.. sometimes a big hike, but usually, gradual increases every year to the point where nobody really notices or comments on it, until you realise that a bag of crisps or a chocolate bar (produced in Ireland) is now twice or three times the cost of twenty years ago. Or that a single visit to a doctor will cost you at least 50 euro, even if the doctor does nothing but to refer you elsewhere. A piece of paper from a solicitor costing similar.. or more.

    Everywhere you can see the prices increase over time... it's just that most people realise they can't stop it from happening. If only we had politicians who cared, but we don't.

    It's nuts.

    Housing supply stalls for many reasons. Throughout Europe, most towns/cities were not designed for large populations with modern considerations to quality of life. As such, they quickly become congested, housing prices soar, and people are squeezed to the outskirts, with the city expanding as the value within the city increases, and more are pushed further outwards. That's normal, and the case pretty much everywhere. This focus on cities in modern times is what's causing most of the problems regarding housing (along with the expectation by people that they shouldn't be squeezed out due to their low incomes).



  • #1
    Dante
    Registered Users, Registered Users 2 Posts: 1,592 ✭✭✭Dante


    Large investment funds buying up all residential property is the biggest issue.



  • #1
    ancapailldorcha
    Moderators, Category Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 40,537 CMod ✭✭✭✭ancapailldorcha


    https://www.boards.ie/discussion/2058252834/housing-supply-issues-affecting-europe-why

    The logical consequence of pursuing infinite growth and not investing in housing. You either build social housing or you transfer masses of taxpayer money into private landlords' hands.

    I think we need a serious investment in social housing. Not forever homes for people to sit on their asses in but basic flats in areas of high demand for single people and couples at affordable rents. Fleecing people during the best years of their lives isn't great for long term economic viability.

    The foreigner residing among you must be treated as your native-born. Love them as yourself, for you were foreigners in Egypt. I am the LORD your God.

    Leviticus 19:34



  • #1
    Wanderer78
    Registered Users, Registered Users 2 Posts: 30,435 ✭✭✭✭Wanderer78


    https://www.boards.ie/discussion/2058252834/housing-supply-issues-affecting-europe-why

    financialisation of our property markets! its starting to collapse! the end!



  • #1
    Pussyhands
    Registered Users, Registered Users 2 Posts: 8,239 ✭✭✭Pussyhands


    Immigration.

    Go to any open viewings in Dublin and it's nearly all foreigners.

    Go to any ad posting on facebook accommodation groups and it's nearly all foreigners being tagged in the comments etc.

    Yes, it's not their fault, but a child driving a car isn't their fault either but you need to stop them because it's the right thing to do.



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