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The New Housing Crisis
# 61 : Wednesday 25-10-2017 @ 20:58
Someone said :
IS anyone else afraid that they will forever be trapped in the rental market? Thats fine with a fulltime wage.. what happens once 65 hits? homeless out on the streets?

the housing crash (hopefully) thought us that things aren't monodirectional. 30-odd years is a long time.
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# 62 : Thursday 26-10-2017 @ 11:16
Someone said :
IS anyone else afraid that they will forever be trapped in the rental market? Thats fine with a fulltime wage.. what happens once 65 hits? homeless out on the streets?

When it came to saving for a first house, myself and every other person I know just gave up all non essentials and committed to it full time.
No over priced coffee, no trips to the pub and wasting 60 quid. No nice new clothes.
I cooked clever meals that you could get two or even three days out of.

Sounds bleak, but I was renting, on retail salary (topped up with DJ nixers) and bought comfortably in the end.
I now have two properties and no regrets.
# 63 : Tuesday 31-10-2017 @ 15:19
When you bought Super, could you only borrow 3.5 times your salary? Because that is the worry for me and my partner, we are saving a considerable amount every month easily enough but not sure it will buy us anything in Dublin when we have €30-40k in a year or so.
# 64 : Tuesday 31-10-2017 @ 17:44
that 3 times ur income literally eliminates any single people from the market. Say a good income of 50K x 3 150K + 20K deposit = 170K. That wont buy you a shoe box under a bridge in Dublin. Hence why Im getting scared cos the 'lets head off to Australia or Canada' isnt an option at my age. And thats knowing that so many more people are in an even worse situation than I am.
# 65 : Tuesday 31-10-2017 @ 18:13
Someone said :
IS anyone else afraid that they will forever be trapped in the rental market? That's fine with a fulltime wage.. what happens once 65 hits? homeless out on the streets?

That is a very frightening concept.

Less for people used to living in the countryside. There's always the option to move to a two-bedroom house out in Bally-go-backwards for 50 cent a month.

The urge to live in a built up area for some people is really only so they can easier get jobs, study, or have a better social life.

But for people who have lived in town all their lives, it's like a forced change of life.
# 66 : Tuesday 31-10-2017 @ 18:34
Apparently it's cheaper to buy then rent at the moment, only problem for most people is the deposit.
# 67 : Tuesday 31-10-2017 @ 19:28
If you rent at my area its €400 - €500 dearer a month than my mortgage.
# 68 : Wednesday 1-11-2017 @ 16:53
If we were to buy a €300k house now our repayments would be about €1,200 a month, no way we could find a 2 bed for that amount of money in Dublin 8. Add on another €200 for insurances and maintenance, we would still be doing well to get a place for rent that cheap.
# 69 : Wednesday 1-11-2017 @ 16:58
MAybe a group of us should just pool our resources and buy a place that way...
# 70 : Friday 3-11-2017 @ 14:30
And what happens when somebody doesn't do the dishes?
# 71 : Friday 3-11-2017 @ 23:02
Someone said :
And what happens when somebody doesn't do the dishes?

Ah, sure. Thomas'll do them instead. Hates dirty dishes, he does.
# 72 : Saturday 4-11-2017 @ 02:55
We could buy the convent for sale out near Mullingar, and move in like a big gay commune.
# 73 : Saturday 4-11-2017 @ 03:02
The only real solution to this housing disaster is the return of a large scale programme of social housing provision. Everything else is just tinkering around at the edges and not addressing the nub of the problem. When Ireland was a young and poor country in the 1930-70 period, it was able to build hundreds of thousands of social houses and flats in our towns and cities that rehoused tens of thousands of families from the tenements and the slums. Yes, mistakes were made (ie Ballymun) but overall the programme was very successful. Many of us who grew up in comfortable private housing had parents and grandparents who benefited directly from the mammoth social housing schemes of those mid 20th Century decades.

But since the early 1990s, housing policy has been to promote home ownership at all costs, by selling off the social rented housing stock and to support the private rental sector via generous tax incentives and rent allowance to house lower income families in private rented accommodation. This policy has greatly distorted the housing system by subsidising landlords to house low income households and reduce the supply of rented housing to young people on moderate incomes. It's a mess frankly and that, coupled with a huge under supply of housing where it is most needed (our urban areas and Dublin in particular) has driven this crisis. The govt makes lots of mealy mouthed pledges that they will reactivate a robust social housing programme but the results so far suggest that they really aren't committed to doing so. Probably due to vested interests in the property sector having far too much influence in policy making. Land ownership is also a key issue - there is ample supply of development land but it is being withheld for speculative reasons and some form of compulsory purchase mechanism by local authorities at below market rates should be looked at. This was recommended in the Kenny Report of 1974 but rejected at the time.

Housing is a very complex issue and one policy initiative on one housing sector can and does have unintended impacts on other sectors. But as I see it, a return to a large scale programme of social housing provision is essential. Allowing high density, high rise housing in Dublin would help also. Ireland is now a very wealthy country, it has the resources to tackle this housing crisis but I suspect the political will is just not there.

# 74 : Saturday 4-11-2017 @ 08:47
arent sparkasse ( German bank) supposed to be entering our market with a cheaper mortgage model ? Though our gov won't let them cos they don't want competition for our shite banks - the EC should look at our mortgage rates because there is no actual competition between the banks .
# 75 : Saturday 4-11-2017 @ 09:08
Of course there is no income limit on buy to let mortgages but you just need a larger deposit
It's kinda mad that the central bank put a constraint on home purchase to income as if it wasn't uncontrolled lending by banks for buy to let's that largely contributed to the crash .

Now it's people with cash from renting houses they bought when there were no bank controls that are buying more houses because borrowing is so cheap and gives such a good return and there is no regulation if buy to let debt which is crazy because one blip hello brexit and if these over stretched borrowers don't get their rents what will happen .... they'll scream for s bailout again except this time angela said the taxpayers don't pay so you suck up your own gambling
Ja schon it's a brave new world
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