Softening house market?

And why is there nothing to rent. When I rented there was 5-6 of us in a three bed house. Most single people who wanted to live by themselves rented bedsits, I rented a bedsit for 3-4 month myself.

Loads of people stayed in ''digs''. I stayed in ''digs'' where there was 4 in a room. Most children going to college would be horrified if they had a share a room unless it was with a girlfriend it boyfriend. Most would not even share a room.with a sibling. FFS they are hardly willing to share a bathroom not to mind a room.

There is no concept of then and now. Back then everyone lived in A rated houses with ensuites attached to every bedroom. Everybody got a house for half nothing at 23-25 years of age with gardens and a Merc parked outside and went out to for pints 4-5 nights a week.

Yes but there are Central Bank rules. It would not be inconceivable that after say, 4 years of college, and 4 years of a training contract paying rent and living (for example) in Dublin, that you might not have a large deposit saved. If you were aiming to buy a house in a more "middle class" area, then you might be saving your pennies for a few years more trying to hit a moving target.

Why do you think there's nothing to rent? There's a huge shortage. Everyone in their 20s still shares houses. Even finding a room to rent is very difficult. When did you last have to look? Do you expect couples in their early 30s to share a house?

Do you just willfully ignore the facts that houses and renting is more expensive now than ever before, and much less available? The Celtic tiger had a higher house price to income ratio but rent was much cheaper.

Ok what was it once you passed your fae’s?

I started in 2003/4 where starting salaries were higher but the point remains it’s over 40k very quickly and I didn’t know anyone that was in debt coming out of their training contract.

We all know why there is a dire shortage of places to rent; we're just not supposed to tell the Emperor that he's in the nip.

If you started in 2003/2004 then it is likely that you were in third level at the time of genuine free fees. Free fees was brought in in or around 1997 and for the first few years it was actually free. Later on they started bringing them in by the back door as other fees. Probably around the mid 2000's but I am open to correction. They were still small compared to what other countries pay for education but I'd imagine that they'd have been a bit of a burden on some. AS I mentioned previously on thread, I know someone who finished college around the time of the crash here with multiples of 5 figure debt due to credit which had been thrown at them by the Bank. I think their interest rate was over 10%. I seem to recall them showing me the letters at the time and initial loans had been lower rates but the bank kept offering to roll them over into newer rates at progressively higher interest. There would have been a genuine argument to have that loan thrown out due to predatory lending but I don't think any such guidelines would have been in place. That person started a part time casual role on not much more than minimum wage. The interest on that loan alone would have been a burden

sonyvision above has very generously shared their actual experience. They finished college in 2012 but didn't hit 40k until 2017. Fair play to them because they persevered. The issue you don't see is that you are assuming your experience in 2003 was transferable to someone 10 years later. It wasn't. That's precisely the point people are making. In 2003 you were making X. 10 years later people were making less despite the CPI having increased . You can check the CSO CPI calculator at the link below. It says that a basket that cost 100 Euro in November 2003 would have cost the 2013 trainee on lower nominal wages than you, 117.26 Euro.

It is a common thing that people do not acknowledge actual material advantages they had, instead attributing success wholly to their own efforts or decisions. I'm not saying you didn't work hard or whatever. I'm just pointing out that you have to objectively recognise that you were in a better position starting of in 2003 that you would have been in 2013.

Which person? It may surprise you to learn but I actually know more than one person.

One did indeed start training in the big 4 soon after the crash. All was rosy when they sorted out their traineeship but by the time September (or whenever they started) rolled around, the salaries had been cut. And I think the normal bump up into second year was also either done away with or else greatly reduced.

Another different person that I know left college around that time with a fairly large debt hanging over them. They ended up getting into the public sector after about 2 years. They had to go through the panel process and it took a while waiting on panels to open up and then later to be called. They started on the new payscale. Second person didn't qualify for a grant as far as I am aware and paid for their own expenses through college. That example was used to illustrate that some people can indeed have debt when they graduate. Even if they don't subsequently train to be accountants. There is more to life than transcribing receipts into accountancy packages.

The person who was originally criticised on thread - which started this off - was ACCA. I'm not an accountant but my understanding is that if you go to big 4, you're ACA?

It's not pleading the poor mouth. sonyvision seems to be sorted but if they said that they still didn't have a house, I wouldn't criticise them for it. I could easily understand a situation where they had some debts to pay off while training, qualified in 2018 and decided to save for a year or two for a deposit to buy in a nice location and then been caught chasing a moving target between covid and other events.

The relevance to the thread is that if you have people who have been working for years in what was traditionally understood to be a well-off profession, but they are still living at home with a parents because they can't afford a house, then it is a good indication that something is going to have to give!

I would take it as relevant information, rather than dismissing it as being caused by some imagined penchant for avocados by that individual.

How one specific profession is faring now, versus how it has fared in previous years, is not relevant to the housing market. You can't infer anything from it.

Please, please, please give it a rest.

Currently bidding on an apartment in Dublin.

Bid on it previously in August and it went sale agreed nearly 10% over the asking price. Sale fell through and it’s back on the market. It was quiet the first couple of weeks for offers and now is back up to what it sold for in August.

It’s bizarre as a much nicer apartment sold in the same block for less just last month.

I also just got a call from my mortgage broker this morning, he’s been absolutely amazing at every stage so far. He said I should start going through the application forms again so he can look as soon as January hits with the 4x lending rule change. He said I should be able to get offers from more banks than previously too. It’s been nice to hear someone upbeat about it all as it’s extremely bleak out there.

100% wishful thinking here but I wonder if there is element of a rush to go sale agreed on properties before the end of the year? My thinking is to get ahead of the CB lending limit increase.

Ive been in the Mandalay Bay and the MGM grand. Both fantastic hotels. What are your own thoughts on this one? How will it effect the housing market in Ireland? Or how will it even effect Blanch.

God forbid people want higher living standards than the economic backwater the was Ireland 30+ years ago