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

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  • Registered Users Posts: 5,545 ✭✭✭Clo-Clo


    Yes you did, it was a big pile of nonsense.

    The facts as you posted yourself is 75% pay tax which is the majority. By a significant amount.

    The amount of nonsense you have shared on this thread is incredible while claiming to be a LL to try make it credible. No idea why people would spend some much time to share incorrect information



  • Registered Users Posts: 3,038 ✭✭✭Blut2


    And, again I'll ask since you've deliberately ignored it, again: what specific investment are you suggesting offers better returns over the long term than property in Ireland in 2024, if being a landlord is so awful according to you?



  • Registered Users Posts: 901 ✭✭✭Emblematic


    I meant to respond to this a few days ago.

    I think a lot of people are drawing an unnecessarily large distinction between a local authority a) funding a developer to build social housing and b) buying completed units off a developer.

    You often hear people asking "why don't the council build their own housing rather than swooping in a buying up what is supposed to be for us"?

    They argue that:

    a) With funding developments: Here the local authority is building new units for necessary social housing and leaving the rest of the market more or less the same.

    b) With purchasing completed homes: Here the local authority is "stealing" homes from decent working first time buyers.

    I would argue however that both are pretty much the same from the point of view of the impact on private buyers as well as cost to the local authority, though there may be arguments in favour or against each of these options depending on circumstance.

    Both take away resources from building elsewhere. Both involve private operators taking a profit. The main difference is that in the first, the council bears the risk with the developer being paid up front. The second, is that the developer takes the risk. But in both cases the cost gets passed on to the council. In reality it is not too different between a private individual buying off plans or buying a competed unit. Both and have advantages and disadvantages to the buyer, but I think we can all agree that it is still buying.

    I think people who draw a huge distinction between the two are probably simply against the perceived unfairness of social housing but don't fully realize it. The fact is that if you are going to have social housing then the public sector is going to be involved in the private market in some way and draw resources from it thereby pushing up prices elsewhere. Doesn't mean it should not be done but there's no way around it unfortunately.

    Post edited by Emblematic on


  • Registered Users Posts: 3,586 ✭✭✭BlueSkyDreams


    What is happening is C & D, not on your list above.

    C) Local councils are not funding devlopments at all. They are taking their part 5 allocation with no effort or expense on their part.

    D) Local councils are renting (not buying) additional homes in private developments for social, which does indeed steal homes away from private renters and buyers.

    These homes are still owned by the developer and social tenants can be kicked out once the rental term ends.

    Point A in your post is fine, in my opinion. Council funding private developers to build social homes that the council owns.

    It houses people and its efficient use of council money, as the council owns the property.

    This does not happen often though. How many developments under construction are there in Dublin at the moment that are entirely funded and owned by local councils? Hardly any.

    Private developments should have part 5 only allocated to social and the rest left to the private market.

    So that the private market gets a ready and consistent supply of housing, which helps reduce rent and sale prices.

    The issue at the moment is that any private development that is intended for the open market can by 100% reallocated to social housing.

    Which means the prices in the private market stay high (or grow even higher) because there is no new supply hitting the market.



  • Registered Users Posts: 901 ✭✭✭Emblematic


    Yes I was only considering two options but these are often discussed by people on threads like this. For example, a council buys up a block from a developer for social housing and people object saying "why don't councils "build" their own social housing"? But this "build" involves paying a developer who might otherwise be building for the open market. So private buyers also lose out in this second case and to much the same extent. It really mainly the optics that are different.

    We can discuss the other options you mention but the same principle applies: that any sort of social housing provision whether the council builds direct, or purchases or rents; the price for private buyers or renters goes up in some way.

    I think this is why politicians like a certain amount of social housing. It gives them a hard hat photo opportunity but also it keeps the house prices of their constituents who have already bought high.

    None of this means that social housing should not be built but it means that it is not sufficient in itself to solve the housing crisis. The appalling value in the private market must also be tackled. Doing so not only brings down the cost of housing for ordinary people: ftbs and renter, but also costs to councils when they provide necessary social housing and also the need for that social housing is reduced.



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  • Registered Users Posts: 3,586 ✭✭✭BlueSkyDreams


    Indeed. But the practice of moving new builds to soical housing at scale is a major part of the problem in relation to keeping private prices high.

    The housing crisis will never be solved by social housing. Because most people dont qualify for social housing.

    We need more social and private housing and there is some scope to deliver more homes in both areas if the councils were tasked with managing a targetted amount of new social homes, directly via their own funding.

    In other words, councils are given a target of x amount of homes to be delivered directly (which means built and owned by the council. from the planning stage)

    If this happened, we would see slightly more homes delivered overall, because both the private market and the social market would be planning and delivering autonomously and leveraging almost all labour and resources available to them.

    At the monent, councils are not planning and have little in their pipeline, but then swoop for the new builds at the last minute.

    This means we arent firing on all cylinders in terms of pipeline development for both private and social housing.

    The capacity of housing output is greater, if both social and private homes are planned from the outset.



  • Registered Users Posts: 901 ✭✭✭Emblematic


    While I think you are still failing to understand the points I was making earlier, overall I agree with your post about the need to increase the production of new homes for both private and social housing.



  • Registered Users Posts: 3,586 ✭✭✭BlueSkyDreams


    I understand your points, but I dont agree its a zero sum game in that the number of units completed each year is the max it can possibly be, as all available resources are not being leveraged.

    If two teams plan and resource from the outset, we will deliver more units overall than if one team plans and resources from the outset, whilst the other team sits on the sidelines.

    Sure, we may run into capacity issues at certian junctures, because the pipeline is much stronger than it was, since 2 teams have now planned for success.

    But we will sweat all the assets overall and deliver more units to the market as a result, as well as helping develop the construction labour market through producing a stronger and consistent pipeline.

    Private market will also have a precitable supply hitting the market.

    i.e. if 10,000 private completions occur in 2024 in Dublin, we know 2,000 will be allocated to social, but no more than that.

    So we will land at 8,000 new homes on the market, which will help control prices.

    Currently, that 8,000 is being consumed by social and nobody really knows to what extent this is happening.

    So its impossible to predict how many units will actually hit the private market. it could be 5,000, it could be 4,000. It could be less.

    Net result is private house prices stay high and social home delivery remains sub-optimised.

    I do agree with you that the politicians arent too distressed with the way things are working out, since they know the strangulated delivery of homes to the private market props up the prices of their would-be voters.

    Which is still 70% (homeowners) of adults in Ireland.



  • Registered Users Posts: 361 ✭✭Cheddar Bob


    Indo today- 33k housing unit commencements in 2023.


    42% in Dublin so circa 13,500 Dublin units off the top of my head.


    13k apartments nationwide, 75% in Dublin.


    So that's circa 9750 flats in Dublin.


    Virtually all flats would be either BTL or council with probably few to none available for general purchase, and at least 15%, but no doubt more, of the circa 4000 new houses in Dublin built for councils and AHBs or sold to the council as the Part V requirement.


    Fcuk me, exactly how few new houses are available for general sale in Dublin?

    We are in the middle of a construction boom and yet there was probably more new houses being built and sold in 2011 when there was sod all building going on.

    You Will Own Nothing and You Will Be Happy.

    This is absolutely deliberate make no mistake.



  • Registered Users Posts: 3,038 ✭✭✭Blut2


    The biggest issue with that is with our population growing by circa 100,000 a year, as it has in 2021 and 2022 and is likely to do in 2023, we'd need 35,000+ housing units being built each year just to accomodate those additional humans.

    Nevermind the units to replace existing stock, or to account for our family unit size decreasing (ie fewer humans per housing unit), or to actually make any dent in the housing crisis.

    Thats why the ESRI and most analysts are now saying we need to be building 60k housing units a year. Anything less than about 50k and the housing crisis will actually be getting worse, not better.

    The goverment can release as many press releases as it wants about "exceeding goals" or "new high for housing completitions" etc - but the actual maths of people needing somewhere to live are very stark. We're tens of thousands of houses a year off of where we need to be, still, years into this crisis.



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  • Registered Users Posts: 4,754 ✭✭✭standardg60


    Years into the crisis? Foresaw Covid, migration, or the war in Ukraine did you?

    The simple fact is no Government, or indeed change of Government, was going to see the crisis in advance, or will accelerate the building of houses over what's being done presently. It's all BS to complain about and say something should have been done before the fact.

    After the crash there was any amount of empty houses, rentals and cheap houses to buy, yet there seems to be some soothsayers on here stating that that was the ideal time for the state to engage in the building of thousands of them, absolute nonsense.



  • Registered Users Posts: 361 ✭✭Cheddar Bob


    All three of those were opt ins.


    No other European state shut building sites during Covid, at least beyond the first few weeks. We did 6 months on and off.


    No other country offered the bonkers Ukraine deal we did bar perhaps Germany.


    No other country advertised homes within four months for non nationals during a housing crisis.



    Add in letting the Green lunatics run amok with their new models of more flats because they require less parking.

    Add in ludicrous schemes like Help to Buy and Shared Ownership and there is simply no escaping the fact that FFFG have actively worked to limit private home ownership, particularly in the cities, since circa 2020.



  • Registered Users Posts: 3,038 ✭✭✭Blut2


    The lack of house building in Ireland has been a known huge problem since 2014. Covid (in 2020), or the war in Ukraine (in 2022), are not what caused it, and are no excuse for it still being ongoing.

    Thats some hilarious effort to brush off the utter failure of multiple Fine Gael governments over the last decade to fix the problem in any way.

    The opposition parties may not be able to do much better on housing, but they absolutely can't do worse. And they can at least try, and have laid out plans to build far more housing than our current government are aiming to. We have a decade's worth of real world evidence that FG in particular have no desire to build housing.

    [2016] How Ireland's housing crisis grew out of control

    https://www.thejournal.ie/snapshot-of-one-county-how-irelands-housing-crisis-grew-out-of-control-2825668-Jun2016/

    [2014] "THE HOUSING SHORTAGE in Ireland could become a “full-blown crisis” if nothing is done about it – and the government needs to address this in Budget 2014.

    https://www.thejournal.ie/threshold-pre-budget-2014-submission-1078664-Sep2013/



  • Registered Users Posts: 5,545 ✭✭✭Clo-Clo


    Sinn fein took control of DCC in 2014 promising to build social housing, when they left in 2019 they had less units than they started with.

    During the time building up 40m in debt in rent arrears and only removing one tenant.

    That's a view of what is coming with the opposition .



  • Registered Users Posts: 4,754 ✭✭✭standardg60


    Did you read the comments below your second link? Didn't seem to be a lot of support for what he was proposing, even if it looks to be pretty prescient.

    Meanwhile this was SF's alternative budget in 2014, not much mention of a housing crisis there..




  • Registered Users Posts: 3,038 ✭✭✭Blut2


    Is your line of defense now that a few comments on thejournal were against a policy so the government couldn't have implemented it? Genuinely lol

    Your link doesn't actually have SF's 2014 budget in it, merely a video of their budget speech. Did you even watch it? I'll quote from their actual budget document, and link to it:

    "The housing crisis is one of the most devastating legacies of government economic mismanagement during the recession. in the past 3 years housing need in ireland has grown and become more severe. there are approximately 89,000 households in housing need as well as 76,000 families in receipt of rent supplement.

    Uusing €1 billion from the ireland Strategic investment Fund Sinn Féin would invest in the social housing stock. This money could fund the commencement of work on between 6,600-6,800 new homes over the course of 18 months. "

    https://www.sinnfein.ie/files/2014/Pre-Budget_October2014.pdf

    Sounds to me like they were both mentioning the housing crisis and offering policy to address it.


    And what are your thoughts on Cheddar Bob's list of government policy decisions since 2020 that have significantly worsened it?



  • Registered Users Posts: 3,038 ✭✭✭Blut2


    What exact policy tools does DCC have that allow it to fund and build large numbers of social housing?

    That policy is controlled at national governmental level, not local council.



  • Registered Users Posts: 8,841 ✭✭✭blackwhite


    That’s their 2015 budget


    standardg60 linked to, and referred to, their 2014 budget. The pdf is linked on the same page he provided - maybe try scrolling past the video?



  • Registered Users Posts: 5,545 ✭✭✭Clo-Clo


    It will have no fund if it builds up 40 million in debt

    Apart from that DCC was handed funding just never built under Sinn Fein. I can guess why they didn’t build but I wont

    “DCC would not comment” 🤦‍♂️

    https://m.independent.ie/regionals/herald/dublins-social-housing-units-slashed-in-half-despite-crisis/34642511.html



  • Registered Users Posts: 27,969 ✭✭✭✭blanch152


    €400m in unused funding during that period.

    Another €40m in uncollected arrears.

    Fingal built housing, DCC didn't, why? Sinn Fein were in control of the latter.



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  • Registered Users Posts: 3,038 ✭✭✭Blut2


    Thats their budget published in October 2014, the year I mentioned.

    His link only contains their budget from October 2013.

    So I'll ask agian, what exact measures should DCC have used that were available to them? Or are you, as usual, talking nonsense and going to stop replying when asked for specifics?

    Because you still haven't replied to the questions asked repeatedly of you on the last page by myself and other posters, when you were last called out on your claims:

    https://www.boards.ie/discussion/comment/121610334/#Comment_121610334



  • Registered Users Posts: 4,754 ✭✭✭standardg60


    Please read your own link. The submission you quoted was in Sept 13 for the 14 budget, I linked the SF budget for the same time.



  • Registered Users Posts: 5,545 ✭✭✭Clo-Clo


    Sorry I don't have all day to sit on the web. I had already answered it, do you want 100 posts saying the same thing over and over again? sorry I don't have time for that

    I shared an article, what are you struggling with? DCC had budget they didn't use it. They had tenants who's rent could give them more budget to build houses. They didn't collect. They also didn't remove any tenants apart from 1 while building up arrears of 40m.

    How many houses would 40m build?

    Sinn Fein won the majority in DCC based on building houses. They used to have an article on their website proclaiming they would build houses after they got announced. That was deleted recently.

    Im sure the next post will be "but but it was someone else's fault" as everything is always someone else's fault with Sinn Fein.



  • Registered Users Posts: 8,841 ✭✭✭blackwhite


    The Threshold submission being discussed (and that you brought into the thread) was Q3 of 2013, and related to their pre-budget submission for Budget 2014. The same “shadow budget” that he linked to for Sinn Fein is the same period.

    The one you’ve linked is from 12 months later.



  • Registered Users Posts: 361 ✭✭Cheddar Bob


    "impossible to predict"


    As per my post below yours, of the 13,500 units commenced in Dublin in 2023 probably less than 3000 will hit the open market.


    All of these aimed at the high earning buyer, I'm not sure even a 2 bed terrace can be bought for less than 380k any more within Dublin.


    3000.


    And probably 16,000 Dubs hit adulthood yearly. Plus migration.


    They're fcuked.



  • Registered Users Posts: 27,969 ✭✭✭✭blanch152


    Anything published in October 2014 is for the 2015 Budget, so if you are looking for the 2014 Budget, you look to October 2013.

    I would have thought this was well-understood.



  • Registered Users Posts: 27,969 ✭✭✭✭blanch152


    DCC had €40m in uncollected rent. If Mary-Lou can build houses for €300k in 2024, she could have built them for €200k in 2014 meaning at least 200 were left unbuilt as a result of Sinn Fein's failures.

    If you add this to the unspent capital allocation of €300m, that is another 1,500 houses going abegging. That SF presided over this level of incompetence is not surprising to anyone who has watched their performance governing in the North.



  • Registered Users Posts: 27,163 ✭✭✭✭GreeBo


    I'm not sure even a 2 bed terrace can be bought for less than 380k any more within Dublin.

    If only there was some way to find out!

    "https://www.myhome.ie/residential/results?localities=1365|1406|1430&region=1265&types=97&maxprice=375000"

    Oh look, 325 of them.



  • Registered Users Posts: 3,038 ✭✭✭Blut2


    My link is the literal SF budget submission for that year. And I quoted the relevant section on housing.

    You claimed that no housing crisis existed before 2020, and nobody had any plans to fix it. How does the quoted Sep13 budget align with this theory?

    You post more on this forum than almost anyone else, literally hundreds of posts a month every month since you joined, so the evidence would suggest you apparently do have plenty of time to sit on the web.

    As usual you haven't answered when asked a direct question, so I'll ask agian. What exact measures should DCC have used to fund and build large scale housing?

    The earliest link in my post that he was replying to was published in 2014, as I indicated. His point that I was replying to claimed that the causes of the housing crisis only began in 2020, and nobody in Ireland was causing for measures to fix it before then. Which the evidence would strongly suggest he was wildly incorrect on, no?



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