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

looks like house prices have rocketed up 20% in the last few months - the coutry is a **** show surely this is absolutely unsustainable

The first home scheme has helped bring 630,000euro 2 bed apartments to Limerick. All arguments for it should die on that alone

Homes included in any of these schemes, just like council houses, should remain in a pool of affordability for the wage bracket they were designed for. They shouldn't be some vehicle for people to make money from the housing market to upgrade their home without doing anything for it. All this nonsense of buying houses off the council at cut rate prices etc. etc. is complete bullshit, you shouldn't be able to avail of these services and use them to try and rinse the next person in line.

Housing affordability is often a temporary issue for the occupants of subsidised homes, therefore an affordable rental may help multiple families, while an affordable purchase is huge cash boost to one family from taxpayers.

In addition posters here state they can do whatever they like with there property so that subsidised house can end up on Airbnb and out of public and private housing stock

The mask is coming off the true political populists

What is the point of affordable housing on your view?

Is it to give someone an affordable roof over their heads & security of tenure?

Or is it to give them a financial asset and an investment?

Its all well and good saying you'd rather help people who help themselves, we have a relatively free education system for that purpose. The reality is there is a limited number of jobs that will pay sufficiently to afford private rent or a home purchase. There will always be essential jobs employing real people that will never pay enough to afford a private home purchase or rent

For this reason you need a mid tier market that allows security of tenure and rents that are affordable. The precence of such a market eases the pressure on the private rental and purchase markets, tames the inflation, helps address supply issues and can be a benefit rather than a burden to the taxpayer.

Alot of winners in such a scenario. A well thought out scheme would bring stability to the property market. Stability is the friend of the investor. Instability is the friend of the speculator.

Which should the taxpayer be supporting. The speculator path did not work out well last time

Not to worry though, rising house prices are moving people up the social ladder into the middle classes.. somehow

what a load of BS and putting your narrative on a post just because we have a differing opinion.

All that I was pointing out is that a model where ownership exists and doesn’t lock people into social classes results in a better mix and avoids ghettos due to 100% social housing which will never be owned by occupier.

A big part of why the big winner across European elections was the Kremlin

There has to be a mid tier between box room in your parents house or a median salary to pay the rent

We are killing society and there is plenty negative powers out there to take advantage of it. The endgame is looking more grim by the day

No one is questioning the rental market being a **** show at present… and until sufficient supply is out there it will stay like this regardless of what model is adopted… it’s not like overnight houses will appear if you choose one over the other.

Taking a house out of the pool for others 🤣

It’s the same no of houses built regardless so that claim is pure BS.

You do know that owner needs to buy back shared equity from council/lda/housing body before they sell it so unless there financial situation changes and are able to buy out shared equity before selling they are not benefiting more than a regular house buyer besides having benefited from moving out of private rental market.

they will only see proceeds if property sold…For majority I doubt shared equity will be paid before probate kicks in and no doubt there will be calls from left to write it off in those circumstances.

Interesting back and forth above. One big factor in future Irish housing market is politics and we have seen in the recent elections that Independents have flourished. Noting that older home owners are more likely to vote than younger people means that parties which place a large emphasis on individual success in society on house prices increasing over time will do well. With changing demographics and home ownership a pipe dream for the majority of probably 30-40% of the electorate (many of whom don’t actually vote), it begs the question as to what will happen as this group of non-homeowners become the majority of voters over time.

I have seen some pretty strong views spoken from young professionals who are renters about what should happen to the housing market including that it would be great to see house prices and rents completely collapse. The further out of reach home ownership becomes, the more extreme renters seem to get in their views. How common are these views among renters I wonder and what impact this will have on politics going forward?

At 36 onwards is where we see more people home owners than renters, rising dramatically from 26 years in 1991 and 28 years in 2008. I think only slightly more than half of the electorate are aged over 36. All the data is moving very quickly in the direction of the majority of the electorate being renters in the next 15 years, unless the housing market becomes easier to access (which means lower prices without hits to purchaser power or additional purchaser supports).

I’m saying this as a 37 year old who owns a home. If I were a young man again, I would happily take my chances in a 2008 style crash than I would in an attempt to carve out a life in this perpetual growth machine.

As with many things in life, it depended on your situation. As it was a deflationary situation, it meant that prices were lower (a lot lower), the cities were less crowded, costs of living were lower and the state was broke, so it didn’t have the resources to cause mayhem as it does today. Was it better? I don’t know, but there are people up and down this country who are praying for a crash, and that alone says something.

Personally speaking, I would lose out if a crash were to happen, but that’s just my own subjective situation.