And do you have a map of these houses by any chance?
Try it sometime.
“The richest ten per cent of Irish households owns one-third of total housing asset wealth, while households in the bottom half own 14 per cent. The remaining and largest share of housing wealth belongs to households in the middle wealth bracket, accounting for 53 per cent of the total. The Central Bank noted an “extreme concentration” of wealth among homeowners, as 97 per cent of total household wealth is held by those who own property – with the remaining 3 per cent of household wealth held by renters or those with free use of a home.”
Good thing a left-wing party is ahead in opinion polls at the moment, if they get in we can bank on them making effective use of property taxation! /s
The same top 10% of Irish earners also pay 50% of the tax
This was true in ~2018, I have to travel two hours to vote now but I’ll see if I can source the statement I just made when I’m back
Not really surprising
No shit
The people with high incomes pay the vast, vast majority of taxes that support the welfare state. Somebody with a council house for life and a state pension on paper has no assets.
This is why we will never have a better housing market. The government is never going to do anything that risks devaluing the residential housing market. Too much of voters wealth is tied up in it.
It’s why we can’t even get decent investment options and have stuff like deemed disposal on stocks but not on investment homes, where it would make more sense.
Wonder how many are in politics as well
> The data does show there has been a “significant reduction” in wealth inequality over the past decade, mainly driven by strong growth in the net wealth of the bottom half of households.
>…
> Positive changes for wealth in lower income households has been driven by reduction in debts, while growth for the richest ten per cent of households has been driven by increases in the value of assets, especially housing.
Only country in the EU where wealth inequality is dropping.
the only real wealth tax we have in ireland is property tax ….. and seemingly most parties (even the left wing shinners) keep cutting it at council level. baffling to say the least.
10% is actually a larger number than I’d have expected tbh. After all it’s self evident that a large tranch of the population have never and will never have much saved money or own property. If you want *much* better then agitate for communism and state ownership of almost all assets at which point we can all be quite poor together.
Most wealth is in assets. Land,stocks,shares, property, businesses etc.
Can’t really see what difference it makes if your neighbour is filthy rich?
What’s the threshold for top 10% of wealth? And similarly what’s the figure for top 10 pct of income?
Can’t wait to post this in r/IrishPersonalFinance and have someone argue that “they’re not rich”
Price’s law, and it occurs in every single realm where there’s measurable productive output. Music, sport, finance, you name it
Pareto principle 20/80 works nearly universally.
80% of the wealth of a nation is generated by 20%, the other 80% create only 20%.
That would be current TDs, ex TDs and people in D4 and Dalkey. O yea, and the RTE people.
This is purely from people saving for a deposit. /s
Yeah no shit
What was that old dylan moran bit on the irish and class?
Something along the lines of “there’s no class in ireland, except for that one family with the big house but we don’t talk to them”
24 comments
And do you have a map of these houses by any chance?
Try it sometime.
“The richest ten per cent of Irish households owns one-third of total housing asset wealth, while households in the bottom half own 14 per cent. The remaining and largest share of housing wealth belongs to households in the middle wealth bracket, accounting for 53 per cent of the total. The Central Bank noted an “extreme concentration” of wealth among homeowners, as 97 per cent of total household wealth is held by those who own property – with the remaining 3 per cent of household wealth held by renters or those with free use of a home.”
Good thing a left-wing party is ahead in opinion polls at the moment, if they get in we can bank on them making effective use of property taxation! /s
The same top 10% of Irish earners also pay 50% of the tax
This was true in ~2018, I have to travel two hours to vote now but I’ll see if I can source the statement I just made when I’m back
Not really surprising
No shit
The people with high incomes pay the vast, vast majority of taxes that support the welfare state. Somebody with a council house for life and a state pension on paper has no assets.
This is why we will never have a better housing market. The government is never going to do anything that risks devaluing the residential housing market. Too much of voters wealth is tied up in it.
It’s why we can’t even get decent investment options and have stuff like deemed disposal on stocks but not on investment homes, where it would make more sense.
Wonder how many are in politics as well
> The data does show there has been a “significant reduction” in wealth inequality over the past decade, mainly driven by strong growth in the net wealth of the bottom half of households.
>…
> Positive changes for wealth in lower income households has been driven by reduction in debts, while growth for the richest ten per cent of households has been driven by increases in the value of assets, especially housing.
Only country in the EU where wealth inequality is dropping.
the only real wealth tax we have in ireland is property tax ….. and seemingly most parties (even the left wing shinners) keep cutting it at council level. baffling to say the least.
10% is actually a larger number than I’d have expected tbh. After all it’s self evident that a large tranch of the population have never and will never have much saved money or own property. If you want *much* better then agitate for communism and state ownership of almost all assets at which point we can all be quite poor together.
Most wealth is in assets. Land,stocks,shares, property, businesses etc.
Can’t really see what difference it makes if your neighbour is filthy rich?
What’s the threshold for top 10% of wealth? And similarly what’s the figure for top 10 pct of income?
Can’t wait to post this in r/IrishPersonalFinance and have someone argue that “they’re not rich”
Price’s law, and it occurs in every single realm where there’s measurable productive output. Music, sport, finance, you name it
Pareto principle 20/80 works nearly universally.
80% of the wealth of a nation is generated by 20%, the other 80% create only 20%.
That would be current TDs, ex TDs and people in D4 and Dalkey. O yea, and the RTE people.
This is purely from people saving for a deposit. /s
Yeah no shit
What was that old dylan moran bit on the irish and class?
Something along the lines of “there’s no class in ireland, except for that one family with the big house but we don’t talk to them”
We sure do 🎩👑💍
That’s 500,000 people the rest can eat if needed.
Pretty egalitarian compared to most of Europe