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"average Dublin house prices should fall to ‘the €300,000 mark" according to Many Lou McD.

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Comments

  • Registered Users, Registered Users 2 Posts: 6,190 ✭✭✭Former Former Former


    Quote of the year right here

    when my co workers are doing their xmas shopping in New York again, then we can talk about a recovery.

    Absolutely incredible.



  • Registered Users Posts: 313 ✭✭BillyHaelyRaeCyrus


    Whats incredible about it, I did it twice as a teen. Working class people used to be able to do that



  • Registered Users, Registered Users 2 Posts: 3,229 ✭✭✭downtheroad


    What Mary Lou will do the to Irish economy will make Liz Truss look like a winner of the Nobel Prize for Economics



  • Registered Users, Registered Users 2 Posts: 3,229 ✭✭✭downtheroad


    I was leaning towards having sympathy for you, not any more.

    If you really really want to buy a house you will scrimp and save to put together a deposit.

    Holidays and Canada Goose jackets go on the back burner.

    You need a serious reality check.



  • Registered Users, Registered Users 2 Posts: 3,259 ✭✭✭Kaisr Sose


    I can only say to you that you sound like you got everything you wanted when a kid ....that in my view is never a good way to start out in life. Yes, it's fun, etc but look where it's got you...wanting more, and more .

    A lot of the CG and Moncler clothing are copies, fakes...because a generation want a lifestyle and clothing they cannot afford.



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  • Registered Users, Registered Users 2 Posts: 3,229 ✭✭✭downtheroad


    How is she going to ensure that house prices fall to 300k without absolutely tanking the economy?

    Give one example of a policy that could achieve this?

    Post edited by Boards.ie: Mike on


  • Registered Users, Registered Users 2 Posts: 6,694 ✭✭✭Feisar


    I take it you are being slightly tongue-in-cheek? However your point still stands in a way. That's what was base level normal during your/our formative years. One cannot really rewire ones brain and say tell it "oh that wasn't sustainable". One can realise that it wasn't however there's no getting around one feeling worse off/things not being as good as they used to be.

    Personally we were a single income family with Dad in the civil service and being debt adverse there was no major boom in our house. Also a lot of the people doing these things were really not actually wealthy in the true sense of the word, just running around on borrowed money. Actually getting poorer while the real wealth got wealthier.

    First they came for the socialists...



  • Registered Users, Registered Users 2 Posts: 9,297 ✭✭✭suvigirl


    He did his civil engineering cert in Bolton st, DIT.



  • Registered Users, Registered Users 2 Posts: 5,559 ✭✭✭Clo-Clo


    And? Are you saying because it’s in Dublin it’s better than a cert he would have got from Letterkenny?



  • Registered Users, Registered Users 2 Posts: 7,099 ✭✭✭amacca


    But that is completely unrealistic, unsustainable........that was a blip, if you base your expectations on that you will be disappointed. Its possible for you to live like that if you make the money...its not possibe for a majority in an entire country to live like that for any great length of time imo...what you experienced then wasnt based on prudence.....it was exuberance.......there needs to be a balance.


    + if SF get in I'd be worried if they got to bring it back, you can be sure the whole thing would come tumbling down in short order....if house prices go to 300k then SF will really have make a balls of the country, even more than the current shower



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  • Registered Users, Registered Users 2 Posts: 9,297 ✭✭✭suvigirl


    No. I'm saying he went to college and got in through the cao system. Just pointing out that he didn't do a national cert to get into college. That's all.



  • Registered Users, Registered Users 2 Posts: 6,190 ✭✭✭Former Former Former


    This would be hilarious if you weren’t also telling us about the mental health struggles you suffer as a result of your unfulfilled expectations of life.

    You absolutely, as a matter of priority, need to recalibrate your idea of what life “should” be like.



  • Registered Users, Registered Users 2 Posts: 3,229 ✭✭✭downtheroad


    He is still grossly under qualified to be the Minister for Finance



  • Registered Users, Registered Users 2 Posts: 9,297 ✭✭✭suvigirl




  • Registered Users, Registered Users 2 Posts: 5,559 ✭✭✭Clo-Clo


    Most of the Armani and Canada Goose you see are fake clothes which are easily acquired now

    Ebay, Ali express etc is easily available to everyone now as people on the majority have easy and fast access to the internet

    Not sure why you think only 17 year olds drove 5 year old cars. That’s just a baffling statement

    The going to New York for Christmas shopping was few and far between. Mostly discussed because the odd person did and it was blown out of proportion because Irish people could never even contemplate doing it before, plus they never considered that someone might have saved for 2 years to do that.



  • Registered Users, Registered Users 2 Posts: 1,457 ✭✭✭SharkMX


    I think you need to manage your expectations there :)

    You seem to think that everyone had it easy.

    I dont know, but my parents bought their house in 2000.

    My Dad told me he had to buy a falling down house, do it up over many years himself. They had two campbeds for a year and a camping stove. When they got a mattress it was my uncles old one that he was throwing out. He made a bed frame out of old planks.

    Now we were a bit more comfortable when I was growing up, but we certainly never went on shopping trips to New York. A holiday evry second year in England, France or Spain maybe was as good as it got.

    Even though im waiting to get a bid accepted myself still. I definitely have a better, easier life than almost anyone i know from my parents generation had.

    Sounds like you had a great life growing up when someone was providing everything for you. Now that you actually have to provide for yourself you dont know how to do it and want someone else to do it for you again. Definition of spoiled to your own detriment.



  • Registered Users, Registered Users 2 Posts: 17,423 ✭✭✭✭Leg End Reject


    New York for Christmas shopping ✅

    Designer clothes favoured by skangers ✅

    Mortified to drive a car older than 5 years ✅

    Day to day living nearly €2 k per month ✅

    Can buy own home ❌


    I'd say SF could even figure out the solution here.

    Post edited by Leg End Reject on


  • Registered Users, Registered Users 2 Posts: 27,237 ✭✭✭✭GreeBo


    You are in for some shock when you retire chief. You are currently spending more than state pension on discretionary items. Best of luck with it.



  • Registered Users, Registered Users 2 Posts: 5,559 ✭✭✭Clo-Clo



    Depends on what you think are "Working class people"

    99% of the people I knew working during the Celtic Tiger never went to New York to do Christmas shopping.

    I think the poster is hoping for a free house while they continue to spend above their means

    At this stage it's starting to become a piss take and ruining the thread. None of this makes any sense, one minute they are claiming they can't buy an apartment. The next they are heading to New York to do shopping



  • Registered Users, Registered Users 2 Posts: 13,680 ✭✭✭✭Geuze



    Let's imagine we do the following, a thought experiment:


    SUPPLY-SIDE

    Land costs of 70k per house need to fall to 20k per house, that's 50k off.

    Finance costs need to fall from 23k to 10k per house, that's 13k off.

    Reduce the profit margin down to a builder's margin of 5%, rather than a developer's 15% margin, say 20k per house, so that is 34k off.

    So far we have cut the cost by 97k, without changing anything about construction.


    Here are the new costs:

    House 180k + siteworks 14k + site development = 35k = Hard costs = 229k

    Fees = 10,800

    LA levies = 15k, cut from 18,645 by the central Govt

    Land = 20k

    Sales and marketing = 7k, modest 2k cut here (could this be zero?)

    Finance = 10k, cheaper borrowing by State

    Margin = 20k per house, as the projects are de-risked, as the LA becomes the developer

    Total = 311.8

    Add 10% VAT, rate cut from 13.5% = 343k





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  • Registered Users, Registered Users 2 Posts: 13,680 ✭✭✭✭Geuze


    If we increase housing output from 33k to 50k or even 75k, then the economy would be growing, as every builder would be flat out.



  • Registered Users Posts: 313 ✭✭BillyHaelyRaeCyrus


    I can afford to go to New York for 300 for a flight. I cant afford 40k in a deposit.

    Its the deposit thats the issue, and the stigma around renting.



  • Registered Users, Registered Users 2 Posts: 6,190 ✭✭✭Former Former Former



    A massive increase in house-building is great as a soundbite but;

    a) Every builder is flat out already. All that would happen is that they'd be charging even more for the same work. So where are the tradespeople to build these houses? I don't see SF with any plan for huge influxes of non-EU construction workers. Funny that.

    b) if you're trying to drive down the price of a house, then the state has to massively subsidize the cost of construction. That means more taxes for those of us who work, which drives down economic activity and makes Ireland less attractive to inward investment. That will more than cancel out the (temporary) economic growth from construction. Or it means enormous borrowing, or both.

    I'm delighted Mary Lou threw this glib shite out there, maybe people might stop listening to the easy answers being peddled and actually analyze if these lads have any actual plan. Spoiler: they don't.



  • Registered Users, Registered Users 2 Posts: 5,559 ✭✭✭Clo-Clo


    Can you magic up the construction workers to increase this output?



  • Registered Users, Registered Users 2 Posts: 5,559 ✭✭✭Clo-Clo


    You will never afford a 40k deposit if you keep spending 300 on a flight.

    As I advised already you should discuss with a financial adviser, the money you spent on the flight + shopping will cover it and will be the best advice you will ever get



  • Registered Users Posts: 789 ✭✭✭Big Gerry


    300k is still way too high.

    Back in the 90s you could buy a house for 10k.



  • Registered Users, Registered Users 2 Posts: 6,190 ✭✭✭Former Former Former


    Also a reminder: the only concrete plan SF have is a referendum on a united Ireland. If successful, that will be the biggest hit to our economy in any of our lifetimes, it will absolutely dwarf the bailout and austerity period.

    If you really want your free house, you might think about that.



  • Registered Users, Registered Users 2 Posts: 13,680 ✭✭✭✭Geuze


    a) I heard Pearse Doherty speak at an economics event. He stated that capital and labour would be redirected from comm to residential property.

    SF want to increase stamp duty on comm property to 12% I think.


    If office constuction halved, how much extra capacity would that mean for residential?



    (b) I have shown above how to cut 97k from soft costs, without any change to hard costs at all.



  • Registered Users, Registered Users 2 Posts: 13,680 ✭✭✭✭Geuze


    No, and I accept that 75k is probably impossible.


    I sense that SF want office/hotel construction to fall, and that capacity to move to residential.

    Would that make much difference?



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  • Moderators, Home & Garden Moderators, Technology & Internet Moderators, Regional East Moderators Posts: 12,602 Mod ✭✭✭✭2011


    This explains a lot!

    I have my own home. Like many other homeowners to get it I had to make a lot more sacrifices that you seem willing to endure.



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