I’m not even considering and I’ll be 30 in a few months time. Housing is a luxury. I’m gonna save up for big screen and live in the box.
You don’t fucking say!
EDIT:
6th highest GDP per capita in the world, yet close to a million in danger of poverty thanks to housing. How in the everliving fuck is that a tenable and sustainable outlook for society? I just can’t get that out of my head since hearing it.
*gestures at everything* Well what did they expect?
I am absolutely shocked.
Hold those in charge accountable. They get off too easy.
It’s such a sad situation. I’ve talked to some people abroad who have been interested, or who’ve even been offered high paying positions in Ireland, yet turned it down due to lack of housing or the cost of it. I feel the only thing that could make the government act is if the big multinational companies can’t attract enough talent due to the cost of living and pressure FFG. We all know they don’t give a flying f**k about young people in Ireland or the average citizen.
I wonder if stuff like this ever rattles the ideologues in Fine Gael and Fianna Fail, like they look at it and see the consequences of their beliefs and actions, and wonder ‘are we wrong?’.
The average house price in Ireland is now €290,000. Assuming a standard 20% deposit you would need to be earning €68,500 per year to meet the 3.5x salary rule.
The median salary in Ireland is €36,000 per year. Grim stuff.
I assume “young adults of prime working age” is anyone <35?
I wonder if the birth rate has dwindled similarly.
Shocked Pikachu face
Interesting study but this obviously wouldn’t be limited to young adults either, anyone who doesn’t already own a house is basically screwed, especially if you’re single.
Strongly correlated, I imagine, with most people putting off starting a family until they’re 30+ which is both lifestyle driven and guided by the fact that everything is much more expensive in the country (primarily rent) which constrains the ability to build deposit funds.
There’s no silver bullet fix to the Irish housing market, its a cluster of long time policy failure and prioritization of vested interests.
Please contact your TDs. Its not enough to just moan about it on reddit. I can tell you that they only take this stuff seriously when they get inundated with letters/emails.
Imagine my shock
*shocked pickachu*
This is breaking news for FF and FG
I as a young adult have not noticed this.
“Next on RTE news – smoking linked to cancer”.
A development company were going to develop a couple of acres of land beside where I live a couple of months ago. They came around and did a survey of the people in the local area and I gave it my support. It’s listed as farmland but it’s right beside the m50, all they need is to change the land use.
They were going to build ~~2000+~~ 3000 units, combination of 3 beds and 2-3 low rise apartments, new shopping centre & commercial units, redeveloped football pitches and tennis courts, new road infrastructure, the whole lot.
For a place that hasn’t seen investment in literal decades and where there’s fuck all for the kids to do.
The first thing my aunt said (who doesn’t even live in the area) was that she was concerned about the peoples “green space” that they deserved a “green belt”.
(This land isn’t even accessible by the public, it’s not a public park it’s literally acres of unused grassland.)
I told her to shut the fuck up the only thing people care about is their house prices. To the shock of everyone there, all 50 year old home owners, like I somehow spoke out of turn.
Two months later get a leaflet in the door from the local FG representative, one of his bullet points is that he got the new development refused.
Welcome to Ireland, where grass is more important than people.
Edit: Since this comment got a lot of upvotes, I went and researched the project. It was actually 3000 units, not 2000, and FG, FF, Independent & SF councilors all voted to block the land-use change. So every candidate I can vote for actually voted against my own interest.
This is why the housing crisis will never be solved, not because of FG, FF, or SF, but because of selfish Irish people, our scumbag politicians are just a reflection of that.
RTE, Irish Times, FFG will be scratching their heads in a few years time wondering why are all these younger voters voting for all these populist anti establishment toxic politicians.
It will only get worse. We’re a generation looking behind us at times of unsustainability and excess, while having to achnowledge a future of necessary change ahead of us. Sustainable practices across the supply chain to end product are a big driver of the prices we’re seeing today, but necessary for the future. We’re the poor sods caught in limbo.
RTÉ actually paid someone to write that. The sad thing is its for their demographic who want houses to be as valuable as possible.
People who have been priced out of the market not buying houses, who could have predicted such a thing.
The amount dumb fuckery from the media, when it comes to the economy is truly something special.
But……how?
A whole generation pulled the ladder up behind them.
And they took away our affordable cans…
Priced out of the market and can’t borrow. Why’s it a surprise?
We’re being milked dry by an older generation of property owners who had capital, and international speculators, paying down the 2008 bubble.
The downside is there’s a generation, and they’re portrayed as young, but in reality reach well into their 40s, especially in Dublin, who will no longer have any opportunity to buy a house as they’re now too old to get a mortgage.
If rental tenure and setups don’t change, or there isn’t a major change in affordability, you’re looking at a future generation of retirees, beginning to emerge in about 25 years, who will have no assets to their name and could well be unable to rent as they won’t have the income to cover it.
Where do they go? How do they house themselves?
We’ve created a total mess.
If you think about our parents’ generation – most of them bought homes in the 1970s/1980s which were expensive and mortgage interest rates were high, but inflation was enormous. So, by the 1990s/2000s their assets had become vastly more valuable and the loan had been inflated away to nothing and in many cases paid off.
The current generation has good income, extremely high prices for housing, has been through an economic collapse and rebound and will never see the kind of high inflation (which can be a very bad thing too – I’m not saying run away inflation’s good) that whittled away their parents’ mortgages. It’s a different world though and we are still not proposing any viable solutions.
Thanks FF,FG & co the dream of ever having an house will now be inheriting the family home for so many people all across this island for those lucky enough not to be from a big family..
It seems like such an easy platform to run an election on, “We will clamp down on foreign investment in the housing market in order to give young people a fighting chance at owning a home”; they’d get my vote.
About 10 years late on that headline
Holy crap, 60% of under 30’s owned a home in 2004!
Oh God, when did this happen?
**NO FUCKING SHIT SHERLOCK**
Thank you for coming to my TED talk.
If only an institution existed where you could borrow the money somehow, call it a wank and the people who assess your application wankers.
Might have something to do with the crap wages, crap jobs, ludicrous rents, banks that are borderline corner shops, absolute monkeys in gov, and greedy spastics everywhere else.
I don’t think we’re known for drinking ourselves into oblivion anymore but for being the stupidest cattle in the EU.
Be fair itll end with us. Japans always ahead of the curve on stuff and look at their issue with rapidly dropping birth rate
Everyone’s too busy. No time.or money for kids. We just want a house and a pet. All we’ve time and money for.
Stink of r/collapse off Ireland at the moment
I am 33 and honestly not being able to afford my own home is the only thing that really depresses me
39 comments
I’m not even considering and I’ll be 30 in a few months time. Housing is a luxury. I’m gonna save up for big screen and live in the box.
You don’t fucking say!
EDIT:
6th highest GDP per capita in the world, yet close to a million in danger of poverty thanks to housing. How in the everliving fuck is that a tenable and sustainable outlook for society? I just can’t get that out of my head since hearing it.
*gestures at everything* Well what did they expect?
I am absolutely shocked.
Hold those in charge accountable. They get off too easy.
It’s such a sad situation. I’ve talked to some people abroad who have been interested, or who’ve even been offered high paying positions in Ireland, yet turned it down due to lack of housing or the cost of it. I feel the only thing that could make the government act is if the big multinational companies can’t attract enough talent due to the cost of living and pressure FFG. We all know they don’t give a flying f**k about young people in Ireland or the average citizen.
I wonder if stuff like this ever rattles the ideologues in Fine Gael and Fianna Fail, like they look at it and see the consequences of their beliefs and actions, and wonder ‘are we wrong?’.
The average house price in Ireland is now €290,000. Assuming a standard 20% deposit you would need to be earning €68,500 per year to meet the 3.5x salary rule.
The median salary in Ireland is €36,000 per year. Grim stuff.
I assume “young adults of prime working age” is anyone <35?
I wonder if the birth rate has dwindled similarly.
Shocked Pikachu face
Interesting study but this obviously wouldn’t be limited to young adults either, anyone who doesn’t already own a house is basically screwed, especially if you’re single.
Strongly correlated, I imagine, with most people putting off starting a family until they’re 30+ which is both lifestyle driven and guided by the fact that everything is much more expensive in the country (primarily rent) which constrains the ability to build deposit funds.
There’s no silver bullet fix to the Irish housing market, its a cluster of long time policy failure and prioritization of vested interests.
Please contact your TDs. Its not enough to just moan about it on reddit. I can tell you that they only take this stuff seriously when they get inundated with letters/emails.
Imagine my shock
*shocked pickachu*
This is breaking news for FF and FG
I as a young adult have not noticed this.
“Next on RTE news – smoking linked to cancer”.
A development company were going to develop a couple of acres of land beside where I live a couple of months ago. They came around and did a survey of the people in the local area and I gave it my support. It’s listed as farmland but it’s right beside the m50, all they need is to change the land use.
They were going to build ~~2000+~~ 3000 units, combination of 3 beds and 2-3 low rise apartments, new shopping centre & commercial units, redeveloped football pitches and tennis courts, new road infrastructure, the whole lot.
For a place that hasn’t seen investment in literal decades and where there’s fuck all for the kids to do.
The first thing my aunt said (who doesn’t even live in the area) was that she was concerned about the peoples “green space” that they deserved a “green belt”.
(This land isn’t even accessible by the public, it’s not a public park it’s literally acres of unused grassland.)
I told her to shut the fuck up the only thing people care about is their house prices. To the shock of everyone there, all 50 year old home owners, like I somehow spoke out of turn.
Two months later get a leaflet in the door from the local FG representative, one of his bullet points is that he got the new development refused.
Welcome to Ireland, where grass is more important than people.
Edit: Since this comment got a lot of upvotes, I went and researched the project. It was actually 3000 units, not 2000, and FG, FF, Independent & SF councilors all voted to block the land-use change. So every candidate I can vote for actually voted against my own interest.
This is why the housing crisis will never be solved, not because of FG, FF, or SF, but because of selfish Irish people, our scumbag politicians are just a reflection of that.
RTE, Irish Times, FFG will be scratching their heads in a few years time wondering why are all these younger voters voting for all these populist anti establishment toxic politicians.
It will only get worse. We’re a generation looking behind us at times of unsustainability and excess, while having to achnowledge a future of necessary change ahead of us. Sustainable practices across the supply chain to end product are a big driver of the prices we’re seeing today, but necessary for the future. We’re the poor sods caught in limbo.
RTÉ actually paid someone to write that. The sad thing is its for their demographic who want houses to be as valuable as possible.
People who have been priced out of the market not buying houses, who could have predicted such a thing.
The amount dumb fuckery from the media, when it comes to the economy is truly something special.
But……how?
A whole generation pulled the ladder up behind them.
And they took away our affordable cans…
Priced out of the market and can’t borrow. Why’s it a surprise?
We’re being milked dry by an older generation of property owners who had capital, and international speculators, paying down the 2008 bubble.
The downside is there’s a generation, and they’re portrayed as young, but in reality reach well into their 40s, especially in Dublin, who will no longer have any opportunity to buy a house as they’re now too old to get a mortgage.
If rental tenure and setups don’t change, or there isn’t a major change in affordability, you’re looking at a future generation of retirees, beginning to emerge in about 25 years, who will have no assets to their name and could well be unable to rent as they won’t have the income to cover it.
Where do they go? How do they house themselves?
We’ve created a total mess.
If you think about our parents’ generation – most of them bought homes in the 1970s/1980s which were expensive and mortgage interest rates were high, but inflation was enormous. So, by the 1990s/2000s their assets had become vastly more valuable and the loan had been inflated away to nothing and in many cases paid off.
The current generation has good income, extremely high prices for housing, has been through an economic collapse and rebound and will never see the kind of high inflation (which can be a very bad thing too – I’m not saying run away inflation’s good) that whittled away their parents’ mortgages. It’s a different world though and we are still not proposing any viable solutions.
Thanks FF,FG & co the dream of ever having an house will now be inheriting the family home for so many people all across this island for those lucky enough not to be from a big family..
Friendly reminder that the [largest residential landlord](https://www.irishtimes.com/business/commercial-property/ires-reit-raises-134-2m-to-help-buy-815-apartments-1.3924419?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Fcommercial-property%2Fires-reit-raises-134-2m-to-help-buy-815-apartments-1.3924419) in Ireland is a company called Ires Reit, don’t let the name fool you though, they’re actually owned by a Canadian company. It really boils my piss when I see Justin Trudeau talking about introducing restrictions on foreign investment in the Canadian housing market. Justin presumably has no qualms about Canadian companies pricing out Ireland’s youth from the Irish housing market though. This is also not going away [any time soon](https://www.rte.ie/news/business/2021/0511/1220957-irish-institutional-property-analysis/).
It seems like such an easy platform to run an election on, “We will clamp down on foreign investment in the housing market in order to give young people a fighting chance at owning a home”; they’d get my vote.
About 10 years late on that headline
Holy crap, 60% of under 30’s owned a home in 2004!
Oh God, when did this happen?
**NO FUCKING SHIT SHERLOCK**
Thank you for coming to my TED talk.
If only an institution existed where you could borrow the money somehow, call it a wank and the people who assess your application wankers.
Might have something to do with the crap wages, crap jobs, ludicrous rents, banks that are borderline corner shops, absolute monkeys in gov, and greedy spastics everywhere else.
I don’t think we’re known for drinking ourselves into oblivion anymore but for being the stupidest cattle in the EU.
Be fair itll end with us. Japans always ahead of the curve on stuff and look at their issue with rapidly dropping birth rate
Everyone’s too busy. No time.or money for kids. We just want a house and a pet. All we’ve time and money for.
Stink of r/collapse off Ireland at the moment
I am 33 and honestly not being able to afford my own home is the only thing that really depresses me
When can we have our revolution?