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

They are reacting, badly, to public pressure on rental costs. There is no doubt the RPZ has made matters worse for many renters and the legislation has had the unintended consequence of causing LLs to leave the sector.

But to say they are intentionally keeping prices/rents high for personal gain is beyond stupid and belongs in the CT section of Boards.

You don’t think their constituents, interest groups, the media, charities, pressure from the opposition etc influenced rental legislation? How anyone could construe that legislation as Landlord friendly is beyond comprehension. Please don’t tell me you also believe that policies that helped us climb off the floor by attracting foreign investment were designed to keep TDs properties valuable. C’mon don’t join the chicken lickin club.

What else can be said? They responded to immense public pressure to introduce legislation on rents, had they done nothing, they would have been hammered for not providing some protections for renters. If they don’t provide supports for people who can’t afford rents, the homeless numbers would have grown exponentially.

What part of the legislation helps Landlords/TDs who own rental properties?

Do you think any Government can magically build hundreds of thousands of houses? Of course not.

Go on, tell us what wrong doing the Tribunals will investigate, surely it isn’t why private developers won’t build enough houses.

The floor is yours, tell us what wrong-doing you suspect the TDs are involved in.

So you think there will be a Tribunal to investigate why we helped people from a war torn country?

Give me one policy decision that you think will result in a Tribunal.

Your "Antarctic analogy" breaches the warning in the opening post and a repeat warning on-thread this morning.

Drop it.

Don't try to discuss it, don't try to hint at it, don't try anything.

And particularly - do not reply to this moderation instruction.

Everything isn’t an accident. We have risen from a ruptured economy 10 yrs ago to full employment, increased population and a huge number of high paying jobs. Given that construction had a standing start and has been unable to keep pace, it is a surprise to no one that there is a shortage and high prices.

Am I content as a pig in muck? No, but I understand that a Government, any Government and that includes SF, cannot magically provide hundreds of thousands of homes. Nor can they stop those well paid people or people with savings from outbidding those less well paid.

You have stated that Tribunals will be held which will rock society, yet you can provide one example of a policy decision which is based on TDs looking after their own interests or wrong doing.

Its just more nonsense.

A lot of those TDs will not be elected when the next Government is formed, specifically because of the housing crisis. You think they are helping developers, in the knowledge that it will cost them their job? That is absurd.

Give me an example of a policy that has helped the TDs. Do you think the rental legislation benefitted LLs? The exodus of LLs from the sector suggests otherwise. Have a plethora of TDs put their own homes on the market recently? Which ones?

Is Darragh O’Brien a LL? The only reference I could find was an investment in 2008 in a housing fund which he exited from at a 50% loss.

I don’t know how long there will be a housing crisis because I don’t know if the private sector will build enough to meet demand, or whether demand will stay at present levels, if you do, you have information which no one else seems to have.

My point is, if you believe there is Government corruption in relation to the housing crisis, either lay it out, or you may be better served posting in the CT thread.

Landlords leaving the market, their mortgage interest, costs etc. are going up but they can't put up the rent so they say sod it and sell up.

I saw one post that their mortgage interest could be up 2.5k after the next interest rate rise.

Some got locked in below market value for rent in RPZ as they had kept their rents down over the years, which was the old approach with good tenants, increase on change overs, but selling up might now be more appealing.

Less supply pushes up rents, existing rents are capped but the new build stuff coming online isn't, and you have some big funds allegedly leaving apartments empty for periods to increase rents or lock in the max in the market.

If you're renting at 50% of market value, long term it makes sense to just leave the place empty for 2 years after a tenant leaves and put it back on at market value - not good for supply.

Ahh come on now. Is anyone seriously asking that question at this point :)

I’m not narrowing the discussion, I will accept any example or proof that the Government is purposely keeping prices/rent high for their own personal benefit.

Again, it is absolutely absurd to think the State can suddenly build the homes necessary to alleviate the housing crisis. Only the private sector can do that (they built 80k units per year prior to 2008, it’s now around 20k) , and watching Rory Hearne and Karl Dieter being interviewed this morning, they both said private developers are winding DOWN construction because it is just too expensive to build at the moment. So saying the State should build the houses needed illustrates a failure to understand just what it takes to do that.

And, the people housed in the properties the State has bought, I have no doubt feel they have been helped immensely by the State.

Phones hopping all day at the estate agents apparently.

We have in one move written off 7 years of prudence. Thinking about it, it would have been better to start these rules at 4 times income and reduced them to 3.5 as the market overheated.

They say you can't time the market, but this state does seem to be very adept at making the wrong move at the worst possible time.

Does anyone know if you can flag this concern to the ECB as it is completely against worldwide central bank policy in tackling inflation and I assumed the Irish central bank was answerable to the ecb

Listened to McWilliam’s Tuesday podcast and he seems convinced that the world economy is heading into an 08 moment as the system will not be able to cope with the scale and velocity of the rate rises and one domino will collapse the whole thing. Jeff bezo's the latest to tweet "time to beaten down the hatches"

As for @Dav010 if it swims in the water waddles and quacks, it's a cow