Irish adults rank among richest in Europe – but cost of living and inflation means many do not feel benefits

by Banania2020

14 comments

  2. Income makes you rich, but wealth is tied to assets and with property prices at insane levels, wealth/property is far out of reach for most people.

  3. Anyone who has a home is rich. But if they sell the home they would be homeless or living outside of Ireland. Anyone on rent is rich on paper as in likely getting paid well as compared to most of Europe but they are rent trapped and miserable

  4. Income as an indicator of “richness” is how a child thinks about money. What matters is spending power. 

    If I make €100k but my life costs €110k to run am I rich? But if I make €70k and my life costs €50k am I rich?

    A lot of money moves through Ireland. It doesn’t mean Irish people have it

  5. *”I hear you have lots of money, here let me extract it from you”*

  6. “Property accounts for two-thirds of the wealth of Irish people. This has been put at €250,000 per adult.” And here is why the housing crisis won’t get fixed- too many incentives not to fix it.

  7. Bruh what, who gives fuck even if ya get 100 grand a year, if most of it is gone you’re no richer

  9. I’m rich! I can buy a house! Oh wait, most decent houses are 20x my base salary or more.

  10. The value of your principle private residence should be adjusted for average house prices. If you own a palatial mansion, that’s should be included. But if you’re considered “wealthy” because average house prices are high in Ireland, that’s misleading. Sure, you could sell it and move to Portugal. But for people who are staying in Ireland, they need something to live in.

  11. There is no way Ireland is one of the richeat Eu nations, just no….

  12. This is the most money I’ve ever been on, and I feel so broke and sad

  13. All about housing. Irish young adults are no doubt poorer than many others in europe.

  14. This article is propaganda – actual, deliberate propaganda – as it is wilfully conflating property values with wealth.

    Anyone who treats the value of their home, as representative of their relative wealth, is a total fool.

    This is the _opposite_ indicator of a wealthy/happy/functional society – allowing houses to become a speculative financial asset is a massive driver of inequality and poverty.

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