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

But they wont in most cases.

4*80k = 320,000 max mortgage (assuming no child care costs etc), at 3% over 30 years that is 1,350 a month or 31% of their net salary.

As to the first point who knows, often the issue with renting is that you rent a house that you can afford to buy and it makes it hard to move, but plenty of anecdotal stories on this thread of people who reckon mortgage payments would be substantially lower than rents given the current rental market.

On the second point, it comes down to what people value a property at, someone with more income can always spend more than you but they may have a limit that they value a property at. Hard to be definitive on that.

Lastly you can fix for 5-10 years at lowish rates at the moment, i dont think anyone is taking a variable mortgage right now.

In most cases, their salary will go up over time too so that percentage of salary will decrease each year.

If you lock in a mortgage today, the repayments 20 years from now will be the same as the repayments next month (barring adjustments for interest rate changes which are unlikely to be anything remotely close to 20 years of inflation, plus they could go down too)

If you rent for the next 20 years, that rent will go up almost every single year and on the whole will rise with inflation on average.

In both cases your income will almost certainly go up every year too, in line with inflation and probably inline with growing experience and movement up the career ladder, barring unforeseen events and shocks that can of course happen (but if they do the banks aren't really allowed to kick you out anyway)

So in general mortgages usually only ever get more affordable over time. With the current high inflation, we'll probably see higher wage growth to keep up in the next few years, which is another reason why increasing the multiple of current salaries is probably not the end of the world.

There was a degree of kickback by employees against large highly profitable multinationals for participating in the TWSS scheme during covid,

There is something abhorrent about large companies feeding off the taxpayer, when they are already one of the greatest beneficiaries through education and infrastructure grants etc

As I understand it, also, if the grid is unable to provide the power needs of these companies and they have to switch to diesel generators, Compensation has to be paid to these companies, this includes data centres

It would be an incredible brain fart of an idea to subsidise larger consumers of energy in such circumstances. Give reduced rates for off peak hours instead.

Im aware of a number of companies that have installed wind turbines to help power there plants. What is this stupidity telling them with a so called green party part of government

Ireland's 4th largest city, I think, by population

Shared equity, HTB and 4X income

Certainly gives us an indication of what the state could do/fund to affect supply given that they are the largest owner of land

Why would you spend 750k on a 2 bed apartment, when you have all the ingredients to build 3 houses for the same outlay

It's pretty clear that the industry and not common sense is dictating policy.

For anyone contemplating a long term investment, it might be worthwhile to listen to the following podcast. The guest predicted the 2008 crash and called the risks of the QE response to covid correctly. Have some valium closeby

= a release of demand nearly equivilant to the 110% mortgage's in 06 at the top of the market

Baten down the hatches as the state is raising the sails

Just curious, why worse value? Building standards are higher, energy rating are better and you get a blank canvas

the ballyogan road is a bit grim alright,

Building materials have increased in price by 30-35 per cent since 2020, the cost of moving products is much higher ,eg the cost of renting containers to carry steel,metal,wood, cement ,glass etc its basic economics allowing people to borrow 4 times income versus 3 times will simply increase the cost of new houses .right now about 14 per cent of working people can afford to buy a new house in a city or a large town. my friend bought 2 apartments 14 years ago, 145k each, they are now worth about 100k, a lot of people are still in negative equity outside dublin ,in rural area,s .

i dont see the logic in relaxing lending limits in a time where the no of houses for sale is tiny compared with say 2008.

Supply versus demand ,demand is way higher than the supply of new homes , economics 101,

are the government really that stupid or desparate for votes from first time buyers ? , to ignore basic economic reality.