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

It doesnt matter in the end - in both cases contractors (staff or services) are first to be cut, because its easy to do so.

While most solo contractors tend to be older, contract/service companies who have their own staff tend to have younger folks employed. So if the work dries up these could still be some of the first to go.

In the case of any slowdown there will absolutely be demand reduction for new homes from all those younger staff being laid off.

It dose. RTE are already in trouble using contracts rather than directly employing staff.

It's something revenue are clamping down on. If contractors are directly contracted in you may find that they will take cases to be treated as employees if there was a sudden move to cease a large amount of there contracts.

This could open a can of worms then as if there work remained and they were considered employees by any of Revenue, the WRC or the labour court you could not necessarily just cease there contracts.

Neither is the presumption that permanent workers will automatically have the skillsets to take over from contractor's

If you get into Myhome.ie and click on Price Changes you will get a daily update on property price increases and price decreases for all counties.

Thing could be worse, of course, but this is not a licence or permission to continue with doomed policy, it should be motivation to fix it. High unaffordable House prices can crash an economy quicker than any alternative

Multiple opportunities have been missed to sort this out, with more on the way mainly a housing construction recession (UK, US) . This brings deflationary materials environment and larger pool of available labour

Government states tackling inflation is their number 1 priority, you don't need to be a genius to know that the heaviest life costs are so because of government interderence.

Sent my daughter to summer camp for a week over the summer, the cost was half what it would be to send her to creche. The summer camp was in university facility which I imagine they paid a fee for.

Creche's are bogged down with forms, questionable staff ratios, insurance and extortionate rents

Rather odd that the business friendly party had the balance of power for the last decade and a half then

Wonder how many tds are from the legal profession and other professions that the Irish consumer gets hammered

Back to property

Alot of lucrative business with councils through rents and sales including doubling the price of a house in less than 3 months

"Fianna Fáil Junior Minister Robert Troy used Dáil speaking time to call for more funding for a State rental scheme which he currently receives an income from"

I can see a scenario where multi-generational mortgages will be the norm. Anyone who was saying prices are coming down need to look at immigration numbers and the slow down of new builds being built. No price drops for at least 5 years and if immigration inward continues we will be indefinitely be at a deficit when it comes to housing

It's been mentioned the property crisis is occurring in a lot of (developed) countries. But I would argue that the situation in Ireland is acutely worse. In trying to do a very rough comparison with UK & AUS:

• In RoI, there are approx 5.1 million people with 784 rentals available on Daft.ie at the time of posting. On a per capita basis thats roughy 1 rental for every 6,500 people. NOTE: This is not a meaningful statistic, other than using it for compartative purposes.
• In Australia with a population of 27.1 million, realestate.com.au dominates much like Daft. Its showing approx 52,400 rentals, which translates to roughly 1 rental for every 520 people.
• In the UK, harder to get a figure but a quick search I found a report that said in March this year there were just 64,800 rentals in UK (population 67.4 million). That equates to roughly 1 for every 1040 people.

Ireland is a basket case when it comes to housing its people. Our rental market is so dysfunctional it is actually causing severe societal harm & economic problems.

goosed

multi generational mortgages would be a sure sign society on the whole is in a terrible place.

Maybe/maybe not if you think of the positives when your considering your kids and they pick up the mortgage when you retire and you live there till you pop your clogs no CGT and your kids has a good portion of the mortgage already paid and can sell up without any taxing on the profit made then your kids would have a decent bit of cash to buy. Just saying it will become an option if the current dynamic of new builds stalling, population increasing at 300k a year and new incentives for FTBs to buy pushing up prices.