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

I get that logic but in the example given it’s talking about moving businesses from premises on the Main Street in Limerick to a vacant soviet building. It’s like saying forget about any long term city development plan and convert Arnotts on O’connels street to residential for social housing and let tax payer pick up the bill.

The modern state pension can be traced back to Otto Von Bismark. When first instituted, the age at which one could apply was 70, and this was at a time when few people lived to see such an age. Thus, only a tiny fraction of Prussians ever lived to see a pension. Today, the average person can reasonably expect to live into their 80s, even if they are not in good health. Ergo, a pension age in the 60s is anachronistic.

The above is bad enough, but it's compounded by falling birth rates in Western countries and inflation. Simply saving for retirement is not enough. Pension funds need to constantly invest their funds in order to have enough wealth to pay out a reasonably pension in the future. This is why we have investment funds hoovering up farm land, housing and other such resources. Thus, in addition to having to deal with inflation in the here and now, younger people need to compete with these funds to secure resources.

We can go on and on about this, but it can be summarised by calling the pension system an upside down triangle. Funding the massive welfare and pension systems with an aging population is bleeding the West white, and the measures that the state takes to address this are ruinous. Simply put, we do not live on an infinite planet, and this reality is really starting to bite.

They already have a reason to stay. But young people see an opportunity to travel/experience new countries and lifestyles, and they take it.

It is a stretch to claim they are moving due to housing, it may be a consideration, but it is by no means the only one.

Point 3 comes from the fact that the majority of Limerick’s residents would not buy these converted properties because they would cost twice what a new house in the suburbs would cost…most expensive land in Limerick, working with listed buildings in a city centre. By default it would be a housing body or government that would only have the finances to buy just like a lot of new apartment blocks up and down the country. That is unless you expect the builders to carry out the work and sell at a loss.

The listed building system does not work if its a detterent. The only way to save these structures is to use common sense and modern materials. Would modern windows on a Georgian home spell disaster or is it better to let them fall into dereliction

I'm aware of one owner who's contemplating converting from commercial to residential as one would get far more in income. can't be the only one

Some operate as free museums to satisfy the die hards

You have claimed to work in the health sector, as do I, in fact all my family do. We know a considerable number of health sector staff who have gone to Australia, Doctors, nurses etc, not one, not one of them said it was due to housing. It is career opportunities, working conditions, and yes, they just want to go there and live in the sunshine.

As I have said, housing may be a consideration, but people traveled abroad to work for a variety of reasons, it’s rarely just one.

But I suppose it suits your narrative, so you no doubt are not for turning.

By the way, I am all for young people travelling abroad to experience other working environments, I did it myself, as have my kids, better to go abroad then to stay here and whinge about how unfair life is.

I’m 20 years ahead of you, and a considerable number of my class also went to the US/UK/Canada/Australia, some came back, some didn’t, twas ever thus. My wife is an A&E Dr, and quite a few staff have left, and I’ve been to quite a few going away parties, but none of them were because of housing. They all went because they want something different, and actually want to do it now before they are tied down to a mortgage.

You can’t just make sweeping statements that housing is the main reason health staff are leaving, for some it may be, but they have a qualification which allows them to work virtually anywhere in the world with guaranteed employment, so they are taking an opportunity. There are major issues in the HSE, just as there are in the Uk (daughter a Dr there), and other countries, few countries are perfect. If a hospital Dr/nurse can work less hours, have better work supports, a better work life balance, better opportunities for advancement, and live in the sunshine, buying a house is not the most important consideration for a twenty something. Now I can’t speak for other professions or sectors, but you can cut the bolony that buying a house is the most important consideration for healthcare workers going to Oz, it just isn’t.

Apply now. Get all your ducks in a row. Clear any potential obstacles.

Once you have approval on your current salary it’s a relatively easy process to increase the loan amount for a higher salary.

 85 per cent of the homes in a Dublin housing estate, which were advertised on the open market for individual buyers, have been acquired by a London-based investment fund, the Business Post has learnt.

Looks like more than an average salary 3175 per month to rent. No wonder they can't fill teacher vacancies. You'd be heading to the airport as quickly as possible with your qualifications

Progress

Starting salary for a nurse in Dublin in 2024 is 33k a year, or about 2300e a month net. For a job that requires years of education, and very difficult (and for the functioning of the Irish state/its people essential) work. And obviously isn't WFH suitable. Similar story for teachers and gardai. Can anyone here imagine trying to rent in Dublin on that wage these days?

The nurses union has been screaming out the housing is the #1 issue for its members in Dublin for ages now, but our government has been ignoring them. Principals in schools in Dublin are all saying the same thing about trying to find young staff, they can't recruit anyone who'd need to move to Dublin because the starting salary just won't cover rent.

You'd think a very obvious first step of say increasing starting salary by 5k across the board (which wouldn't impact higher earning/more senior staff, just the junior ones starting off - so would cost the state very little comparatively) would/should be done instantly. But no sign of that yet for some reason...

laughable

Where is your proof of this?

That the fund got a discount was likely due to them bulk buying than in response to demand.

As for the strawman about people waiting to buy 350k house in BlackRock (said noone, ever) - complete BS.

And a 550k home is not affordable for a couple on mean Irish salary (mean is around 47k). To afford a 550k house requires 55k deposit and a combined salary over 110k, probably more to pass the stress tests.