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

What you describe is a process of life improvements, technology and business advancements for the benefit of everyone.

What's happening in housing making it unaffordable for the majority of new entrants is the complete reverse of that.

Past generations had the tailwind of falling interest rates, that looks like being a headwind for new entrants.

This is a house that 1.3 million should buy you.

Not the ordinary house in Dun Laoghaire, which no matter how some may dress it up, it is ordinary.

People who have 1.3 mill parked in their bank account or 5 million, they still want to see worth in the money they spent. Even though they are not short of money.

Totally irrelevant comparing to your grandfather for the following reason which you seem to not take into account:

1). A single wage today is totally different to a single wage back then…Your talking about a time where a married man was paid nearly double what a unmarried man was paid for doing the same job. Assuming your grandfather was married at the time then it’s not the same as a single wage today but closer to a couples wage

2) Average civil servants job are not the same back then versus today….Back then you were made for life if you landed a civil servants job as you had a pension, good benefits and a job for life regardless of performance. These were the top jobs in there day at a time when people had to emigrate for work. Comparing a civil servant’s job in 60’s to a civil servant’s job today is like comparing the respect a Bishop had in the 60’s verses today…Yes technically the same job but no comparison. A civil servant had no trouble getting a mortgage back then as zero risk to the bank v a private sector worker at the time who could loose his job and be forced to emigrate.

3). Location location location….The population of Dublin Doubled during the period in question and despite having Irelands first shopping centre on its door it was the equivalent of a commuter town in Kildare today. Let’s not forget that population of Dublin has doubled during the period in question….its like a old yard on edge of a city that you could buy for 1m now being worth 10m because the city expanded and it was now considered the CBD.

in addition The area in question was not impacted to the same extent as other parts of Dublin that saw large social housing when tenements were knocked and people relocated on mass and as a result became more desirable so much so that people were willing to pay a premium to live there…A premium that keeps increasing as the city expands but the areas that people would pay a premium expand at a fraction of the pace.

the madness continues. any chance they could purpose build some accom of their own it'd be better value for everyone?

I don't see the point of talking about lowering house prices as a party in government. Discuss and solve the causes and the effect will occur, talking about lowering the prices of homes is just pandering to one half of the population, and annoying a lot of the other.

The rebel shareholder at IRES-REIT

An interesting interview from a shareholder that wants the reits assets sold off.

Housing as a purchase isn't really like anything else, it's not a completely optional thing that you've don't have to do(when compared to most other purchases in life). Thus, it's not really surprising that people wouldn't want to hear that they may end up in huge negative equity due to a house purchase that they essentially needed to make at a given time(I'm not really interested in getting into a discussion around the necessity of buying a home vs. renting here).

Not that there is any way of avoiding this situation(negative equity for some with house prices coming down), some people just get unlucky with timing. But I think dealing with the causes in a positive manner sounds far better than this whole 'we must devalue the market' populist stuff, designed for certain sections of the voting public to lap up.

sick to death of everything in this country being based around the feelings of those who, in some hypothetical situation, might have to sell their homes thus ending up in "negative equity". why is everything done to keep these people happy

Many/most of these specialist schemes are social and free up larger social houses for refit and reassignment.

Dire need for private equivalents. Would prevent the older bigger houses getting neglected and needing expensive mobility modifications that just get ripped out

Those people make up the majority of the country. People aren't really going to fancy voting for whatever party you want to get into power so you might be able to buy a house if they don't shut up about negatively impacting a large chunk of home owners. The way some of you go on in this thread is like people that own a home in Ireland are some sort of elite ruling class 😂

I just checked the document and you're right, it is an AHB called Fold which manages social housing in behalf of DCC.

The first house I viewed in this area had a wet room built in the dining room, and the bed moved from downstairs. Immediately the purchaser is ripping that out. Such waste. A real shame there are no local retirement villages available for those who may wish to avail of them.

Because they are 3 out of 4 of the adult population and for the majority of them, it is their largest asset, the value of which helps their kids prosper in later life.

Therefore, they are the electorate.

It has the potential to impact loads of people, which is what would drive opinion.