I mean, if they did that, they’d likely piss off their voting base….
‘progressive deflation is the way’
– property owner
Would be interesting to see what might happen if help to buy was removed.
There are around 6/700 HTB claims to Revenue a month currently.
It’s an open market, with more demand than supply.
You don’t try to “push” prices down, you pull them down with more supply.
No the government shouldn’t push down home values for a few reasons but the main ones being any policy that would ‘push down’ house prices would be a huge government footprint placed within an open market which is not where we should be heading.
That said, other than a professor saying we should be pushing down house prices (with absolutely no suggestions as to how it could be achieved) none of the suggestions by others quoted in the article will result in a push down home in values. It will arrest the double digit growth in house prices to a more sustainable level.
The piece that often gets missed is that you need to arrest the growth in prices for a number of years (best case) – There is no overnight fix. Adding supply is the best way to help here but adding supply takes years to get up to speed.
Admittedly, the government have been asleep at the wheel for the last decade but there is no magic bullet that any government could implement overnight that would fix the problem.
Everyone agrees that homes should be more affordable but nobody agrees that their own homes should be affordable should they want to sell!
> But there isn’t consensus that the policy can work and there are those who suggest there is an alternative way to view affordability: that homes are too expensive and they need to come down in price. ***Instead of increasing supply***, or at least in addition to increasing supply, efforts should be made to bring property values down.
“There are those”? C’mon, RTE. If you’re going to talk about /r/Ireland members, at least say so eplicitly!
Honest question, why can’t the government mass build houses like the housing investment in the 50s and 60s?
Other than lack of political will
not a hope.
From what I know about government interference (which isn’t much)I’d say they’d find a way to really feck it up(like the wishes on a cursed monkey paw)
1. Ban the bank of mam and dad.
2. Abolish Help To Buy
3. Only allow people who will live in the property to buy it.
12 comments
I mean, if they did that, they’d likely piss off their voting base….
‘progressive deflation is the way’
– property owner
Would be interesting to see what might happen if help to buy was removed.
There are around 6/700 HTB claims to Revenue a month currently.
It’s an open market, with more demand than supply.
You don’t try to “push” prices down, you pull them down with more supply.
No the government shouldn’t push down home values for a few reasons but the main ones being any policy that would ‘push down’ house prices would be a huge government footprint placed within an open market which is not where we should be heading.
That said, other than a professor saying we should be pushing down house prices (with absolutely no suggestions as to how it could be achieved) none of the suggestions by others quoted in the article will result in a push down home in values. It will arrest the double digit growth in house prices to a more sustainable level.
The piece that often gets missed is that you need to arrest the growth in prices for a number of years (best case) – There is no overnight fix. Adding supply is the best way to help here but adding supply takes years to get up to speed.
Admittedly, the government have been asleep at the wheel for the last decade but there is no magic bullet that any government could implement overnight that would fix the problem.
Everyone agrees that homes should be more affordable but nobody agrees that their own homes should be affordable should they want to sell!
> But there isn’t consensus that the policy can work and there are those who suggest there is an alternative way to view affordability: that homes are too expensive and they need to come down in price. ***Instead of increasing supply***, or at least in addition to increasing supply, efforts should be made to bring property values down.
“There are those”? C’mon, RTE. If you’re going to talk about /r/Ireland members, at least say so eplicitly!
https://youtu.be/1eIxUuuJX7Y
Honest question, why can’t the government mass build houses like the housing investment in the 50s and 60s?
Other than lack of political will
not a hope.
From what I know about government interference (which isn’t much)I’d say they’d find a way to really feck it up(like the wishes on a cursed monkey paw)
1. Ban the bank of mam and dad.
2. Abolish Help To Buy
3. Only allow people who will live in the property to buy it.