I was planning to finally get on the ladder later this year after 4 years of saving a deposit too.
Fuck me I guess
As a home owner, I hope to God they’re wrong. The housing market needs a restructure where home buyers are prioritised over BTR and social housing purchasers, and until rules are put in place where corporate and social entities get the last bite of the Cherry, your average purchaser is screwed.
1) new developments; first round first home buyer. Second round, second home buyer. Third round, private landlords (maximum 2 properties, resident in Ireland). Last round, corporate and social housing. *Landlords will exist but I want the income to go to Irish people, for the Irish economy, over some Canadian pension fund etc*
2) allow child benefit to be capitalised to provide for a deposit, to a maximum of 2 kids and an maximum number of years. Eg you get the child benefit up front, providing its for a house deposit.
3) singletons / childfree – figure out something for them too, along the lines of point 2… I’ve just not identified what yet
4) Affordable housing / shared ownership – widen the criteria (income bands) to help more people get on the ladder, but the State maintains a permanent clawback (no annualised reduction so that you pay 0 after 20 years).
I just wonder what will be the trigger to the bubble finally bursting and who FF/FG will blame it on this time ? Dont forget to buy a 500k house you have to earn 1 million over your lifetime because close to 50% of you income is gone on taxes
With supply issues riddled in the construction industry, a severe recession is imminent, if no one can afford houses and no developer will build homes because of the increased costs we are screwed, 3 major projects in dublin are already stalled because of lack/delays of materials. Developers are prioritising paying for materials rather than builders which is causing anger. But it’s a vicious circle because no materials, no builders, no homes. It’s a shitshow atm
We need to transition to a planned housing economy and quickly. No more of the free market dogmatism. It is not working and hasn’t been for years.
Peoples future inflating further away from them in double digits.
At this point it’s looking like my options are emigration or murder.
Had an argument with the Father tonight, essentially he can’t understand why I can’t compete with cash buyers.
10 comments
Lol. The dream is dead
Funnily enough what Daft/MyHome fail to mention is that monthly increases are actually starting to level off.
Oct 21: 1.2%
Nov 21: 1.3%
Dec 21: 1.0%
Jan 22: 0.9%
Source: https://www.cso.ie/en/releasesandpublications/ep/p-rppi/residentialpropertypriceindexjanuary2022/
I was planning to finally get on the ladder later this year after 4 years of saving a deposit too.
Fuck me I guess
As a home owner, I hope to God they’re wrong. The housing market needs a restructure where home buyers are prioritised over BTR and social housing purchasers, and until rules are put in place where corporate and social entities get the last bite of the Cherry, your average purchaser is screwed.
1) new developments; first round first home buyer. Second round, second home buyer. Third round, private landlords (maximum 2 properties, resident in Ireland). Last round, corporate and social housing. *Landlords will exist but I want the income to go to Irish people, for the Irish economy, over some Canadian pension fund etc*
2) allow child benefit to be capitalised to provide for a deposit, to a maximum of 2 kids and an maximum number of years. Eg you get the child benefit up front, providing its for a house deposit.
3) singletons / childfree – figure out something for them too, along the lines of point 2… I’ve just not identified what yet
4) Affordable housing / shared ownership – widen the criteria (income bands) to help more people get on the ladder, but the State maintains a permanent clawback (no annualised reduction so that you pay 0 after 20 years).
I just wonder what will be the trigger to the bubble finally bursting and who FF/FG will blame it on this time ? Dont forget to buy a 500k house you have to earn 1 million over your lifetime because close to 50% of you income is gone on taxes
With supply issues riddled in the construction industry, a severe recession is imminent, if no one can afford houses and no developer will build homes because of the increased costs we are screwed, 3 major projects in dublin are already stalled because of lack/delays of materials. Developers are prioritising paying for materials rather than builders which is causing anger. But it’s a vicious circle because no materials, no builders, no homes. It’s a shitshow atm
We need to transition to a planned housing economy and quickly. No more of the free market dogmatism. It is not working and hasn’t been for years.
Peoples future inflating further away from them in double digits.
At this point it’s looking like my options are emigration or murder.
Had an argument with the Father tonight, essentially he can’t understand why I can’t compete with cash buyers.