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

Hence the “if” which preceded “you were selling”

Here’s a simple question for you, IF you were to sell your house, would you sell to the highest bidder, or would you sell to a FTB for €100k less because you want to help them out?

When you answer that question, it should dawn on you why property prices have risen so much in recent years. Home sellers, be they owner occupiers like yourself, or developers, want the max that a buyer will pay. So please, don’t be blaming the Government, or saying people are greedy because the seller wants the most they can get. It is hypocritical, and stupid. A government cannot magically make houses appear, so thinking a change of government will make things better is idiotic, because it will be the private sector who builds them. And as long as houses are in short supply, developers will charge whatever someone will pay.

FDI is what helped us out of recession, there was no construction sector, our banking/financial sector was in tatters, retail as doomed. It was the tech and pharma sectors which lifted a sinking boat, gave all those graduates jobs, restarted the construction sector, brought in the taxes necessary to run the public services. And continues to do so today.

You hoping for its demise, and tens of thousands of employees lose their jobs just because you think it will help people buy a house, is, well, unique to say the least.

A significant amount of inflation in rental and property market is due to state interference. As you mentioned, long term leases allow rental units to be packaged up and sold on like mortgages used to be.

The only solution really is some radical curbs to the buying & selling of property. Maybe something in zoning that limits amount of rentals/reserving areas for owner occupiers, or same for planning permissions. Alternatively, applying taxes on any profits realised from the selling of property subject to a lease, or land subject to PP - these are the 2 main avenues used to "enhance" property value before selling on.

There looks to be common area which would necessitate a management company. If that is the case the bank selling them would be reluctant to sell individually as they would need to set up such a structure.

There may be common area issues to be sorted as well. As well they may not be connected to all utilities. Easier to get what you can now rather than spend a year sorting it

New UK lender plans 50-year fixed rate mortgages

Perenna secures licence from regulators to issue long-term home loans as inflation soars

interesting development in UK wonder how long before 50 year mortgages will arrive here..

Many posters belive SF and populism will destroy the economy. Maybe the populism that will destroy the country is inherent threat of high house prices and the naievity homeowners belive they benefit from it

Why housing can undo 30 years of economic progress?

Last 14 minites for those that don't need the banter and history lesson

Glenveagh CEO Stephen Harvey on smaller gardens,

Apartments are unviable and housebuyers are subsidising them

Shift from apartment to own door accomodation, while keeping units per hectare the same and eliminating ongoing management fees

Removing apartments from suburban schemes, would reduce cost of delivery per unit to 315 to 325k per unit

Seems eager to have a shift away from investment fund product to ftb product

Inflation has peaked, labour is plentiful, wage inflation between 4 and 6%

I can sympathise with those people and FF/FG aren't 'owed' votes but that's not how creative destruction works.

Creative destruction is when something 'better' is brought in and the old is simultaneously gotten rid of. If SF are going to destroy first and "hope to rebuild" later than that is high-stakes gambling at best.

Though perhaps Eoin O'Broin will have a coherent plan come election time.

It's absolutely idiotic though - by almost any metric Ireland has some of the highest standards of living in the world. One issue is that houses have gotten expensive (though not wildly out of line with comparable countries) due to there being a lot of money around and not enough building during a pandemic, and people want to respond to that by destroying everyone's livelihoods, introducing levels of poverty not seen in decades, and darkening our children's futures for the sake of house prices getting a bit cheaper (but no more affordable to the many who will lose their jobs of course)

I agree that those are the reasons. But I'd respectfully argue that people who give those reasons are also missing the point.

There's hardly a single example of engaging in a "flamethrower" vote that has had a positive outcome.

In general, are people's lives better in the UK since the Brexit vote?

Did Trumps stint leave a lasting and measurable change of fortunes for normal working people in America?

We elected in 2011 Fine Gael and Labour as two fingers to FF. Labour promised no increase in college fees. There was also the slogan "Frankfurt's way or Labour's way" at one point in June 2010 they were at 32% in the opinion polls.

Needless to say, college fees went up and water meters were installed. The rest that came/gave hope and paused water charges& further austerity was more down to the global economy than who was at the helm imo.

Likewise, I give the same outlook when the economy downturns. Its mostly timing and musical chairs. Fully willing to be challenged on that.

Given Brexit, Trump and how we now want to vote out those we took a chance on in the 2011 election, I personally don't believe it's anything more than cyclical coincidences and being in office at the right time and place. With policies having success depending on the waves of the tide that's able to carry them.

All these words from SF are bollocks the same as they were from other parties before them. I've no doubt they'll be elected, I just don't see any major changes nor this eye-opening moment of "look at us now, it can be done"

Saying that, I don't have any strongly ill feelings towards any party really, because at the end of the day they're just humans unable to predict the future, alot of it is hope and look, your whole life is given to public scrutiny and criticism. You'll always have people angry at you.

We know they can go up, down or remain static, but the questions asked were, why does the poster think they will drop because the government changes, and how will they make prices drop?

They are fair questions after such a statement.

Sounds like an election promise, like all the others, hard to deliver unless they find a way of reducing the population, reducing wages, building lots of houses, and stopping people with better paying jobs/more savings from outbidding those with less financial resources, etc, etc.

Should be easy enough, after all, they have done a great job in the North to make everyone happy.