Where is the cost of living crisis exactly?

Nah, you way over thinking it. Most home owners don't see their home as a commodity, they see it as a home, an extremely expensive bit of kit that costs a fortune to run and maintain. The idea they are on the pigs back is nonsense.

The very act of committing to such a financial burden means you have immediately limited your choices, I imagine that extends to "social leverage", whatever that actually means.

Of course none of that has anything to do with the challenges in the market at the minute, a market which is cyclical, wasn't that long ago we were bulldozing housing estates and people were financing 60%+ negative equity homes.

...again, you need to define the term, 'pigs back'?

again, most are feeling the cost of living crisis, including current home owners, but we re not all feeling it the same...

many non asset owners, are frantically doing everything they can to get access to these markets, trying to save as much as possible, while still trying to survive right now, you ll find most current asset owners, in particular home owners, are not frantically trying to save for such a purchase, as they already have done so, i.e. we re not all experience our current situation the same....

again, this gives current asset owners, i.e. home owners, a major step up, as more of their income can be used to accumulate more assets via pension plans, and other investments....

again, 'security of accommodation' is a critical human need, and current asset owners, including current mortgage holders, are potentially closer to achieving this requirement, but of course theres risks involved...

whats happening now, is that younger generations are being pushed further back with achieving common, and sometimes critical life goals, including child raring etc, this is in fact critical in maintaining a functioning society and economy, for all, including for older asset owners. one such critical need is being able to provide adequate elder care for such asset owners, i.e. younger generations are required for this, but if they are unable to provide themselves with such critical needs, i.e. security of accommodation etc, it is very unlikely they ll be able to provide us asset owners with our critical needs, in old age.....

In the current market selling the family home would not be an option for most people.

I would suspect cost of living crisis is not seen by those who have far more disposable income than they need.

In the two decades since I graduated from university, there has been nothing that comes anywhere close to 2022 as regards inflation. This is definitely a shock to the system.

Three examples.

ESB Bill is routinely 50% higher than it was three years ago.

Cost of holiday accomodation (holiday home) - was paying circa 700 per week three years ago, now 1000.

Mortgage has just gone up 100 per month.

Then there are all those little charges. Getting a bike repaired, getting a new radiator put in. Things that used to cost 80 euro all now seem to cost 200.

both are a part of the same argument, as the cost of housing is also still spiraling out of control.....

...and now we re starting to play with words....

have rents and mortgages gone up or down, in recent months? has the cost of building gone up or down?

This was a week ago? Or was it 10 years ago?

A lot can happen in ten years.

A lot can happen in ten years.

Bingo. 👍️

If you have to sell you have to buy.

The best time to sell your family home depends on when you bought it and the current market conditions.

True, if you need to sell, you have to buy, BUT at least one has a property that has appreciated in value to sell in the first place.

An FTB has no such property to sell, so it's extra hard for them. Hence the points being made.

Nope, less variables in a first time buyer who has secured a mortgage.

The rules are robust around lending, they needed to be after the cluster fúck of the celtic tiger.

OK, so you are arguing that on average a FTB is better off financially than an existing homeowner.

There is simply no data at all that exists on this earth that backs you up on that one.

Why? It appears to be a sellers market out there now with high demand for houses. Most people with families are happy to have a home (not sell) but the option to sell is there if say they want to downsize or move down the country. Its also peace of mind to have somewhere to live after retirement.

What do you propose as a better alternative?

Why is this a problem?

What do you propose as an alternative?

I have but I'm still not clear what the alternative is or why the ability to sell and buy other properties is an issue?

If there were better options people would choose them instead but they don't for the most part. Therefore they strive to buy a place of their own.

I have been living overseas for a while and I feel day to day spending in places like coffeeshops is pretty low in Ireland. People really don't dine out much and very few places are busy. Some pubs busy on weekends but many have closed. For a country with a large number of jobs and immigrants its quite subdued and very different from the celtic tiger days. Luxury cars are few and far between.

Checking figures for retail backs up my hunches.

Hotels and b&bs doing well as people seem to splurge on that, and there are lots of tourists , but people seem to be cutting back on other discretionary spending.

There are certain sectors doing extremely well like dairy farmers and IT folks and property developers and agents, but its patchy enough.

There is no recession here but it is very far from booming either. The immigrants that come here are also not spending a whole lot either. Many seem to be in cost saving mode and watch that accelerate goong into Winter.

My UK energy bill is headed for £3k and predictions are the price cap is rising to £4k in January. We'll be alright (might have to put holiday plans on hold) but I'd have genuine concerns for low income houses and pensioners. There will have to some significant government intervention (when there eventually is one) before there is civil unrest

I would dispute this.

Firslt, despite what some say - you dont have the mad, mad disparity of wealth in Ireland that you have elsewhere. There are heaps of super rich in London and there are heaps of sports cars in London. But there are lots and lots of poor areas in the UK, way moreso than here. In fact, a trip across the border makes that evident pretty quickly.

Second, we just dont have the roads for - or the culture of - luxury cars.

I was in Sweden not so long ago, undeniably in the category of 'wealthy' country, and didnt see that many luxury cars there either.

Where you really see the splurge is in property, in home renovations and so on.

Having said that, inflation here to your point is imported and not demand led locally - and for sure lots of people, e.g. anyone in Public Service - are being hit very very hard by it this year.

Swedes buy sensible cars, Irish buy SUVs even when they don't really need an SUV because they're fashionable, to put one up on the neighbours, but kitted out poverty-spec - no extras.

Fur coat, no knickers, like most things here.