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

How is intergenerational wealth a problem, is it a crime to be wealthy.

Land value tax would probably be the best solution as its value is heavily derived from the infrastructure surrounding it, largely provided by the tax payer.

Discourages hoarding by placing a cost on inaction and idleness

If both couples had the same medium income how come one couple bought a house and one couple are still renting. You need much more analysis.

I worked with people with similar incomes for all of my working life with the same choices and opportunities I had. However they choose to spend there earning differently. Some went on foreign holidays every year, or changed there cars every 2 to 3 years. Other followed Munster Rugby on both there home and away matches, others just smoked and went to the pub more often.

Give ten people 1k/week every week for 5-10 year and give them a house and 5k in savings. There will be 2-3 that will be in debt from discressonary spending, there will be 2-3 that will spend it all, a couple that will save a little bit with the 5k a couple that save a decent amount and one person that will make a investment decisions on that income.

In the last 40years there is a section of society that started with little, that have worked hard and have serious saving or have investments that have paid off. That is the reality of life.

Why shouldn't they? I don't agree with the renting out the room part but surely if someone wants to buy a house and that happens to be a 3 bed etc, that is their choice regardless of if there is to be a family in there or not? A home (with however many bedrooms) shouldn't have to be bough by a couple with the intent of raising a family. Why the hell would that matter?

What a load of rubbish, that is a 50k-1 senario. Its more likely that one of the couple's saved harder and choose to cut there cloth to what suited.

The other couple made different choices

But thats utter nonsense. I’ll inherit more money they any professional could earn in 5 lifetimes. Literally because my great grandad had a farm which got passed down and then zoned for housing (I’m not joking).

I mean I could claim my ‘organic continuous family unit’ led to my great success and wealth to which I was an integral part. Or I could acknowledge that I contributed as much as any Joe Soap on the street and my inheritance is a pure freak accident of birth.

Ultimately evolution wants to give successful genes a head start so inheritance is actually quite a natural process.

(runs out of the room ducking) 🤣

There's a strong element of luck if you're inheriting that much.

That doesn't make it 'random' though. You had forebears that managed to become landowners (that part may not have been easy, I don't know) and managed to pass on their genes. Result: you.

It wasn't a serious comment!

‘’Many people see generational wealth as 'well deserved' because they view families as an organic continuous unit, rather than people randomly linked by birth. So that family has earned money through sweat and hard work over two generations.’’

These people you’re talking about would be wrong then as they believe there are two generations doing ‘hard work’ but the second generation doesn’t haven’t to work hard or sweat at all to receive the wealth. That’s the point.

This is a big part of the problem, people claim that intergenerational wealth is an issue and completely overlook this scandal.

These homes should be state assets released to the affordable rental market generating income for the state that could be reinvested in building more. This way they are a help to multiple families rather than a gift to 1 family in a lottery.

Taxpayer funded/subsidised projects should not be a gift to 1 person/family. From my experience, in the past desirable council houses had a habit of going to persons engaged in political canvassing

He should resign.

Great work again on the ditch

Do we have to pay his gold plated pension if he resigns? Our td's have all angles well covered for themselves.

How a TD can get a write off of debt on a 200k mortgage when they have annual income of at least half the loan

This was not his ppr and should have been repossessed if he was unwilling to fulfill his contractual obligations.

Like so many, not fit for office

I don't see how the number of family members should be a factor in a normal functional market. Using your rationale, a family with 5 kids should be able to afford a 5 bedroom house as well, but it doesn't work like that at all.