Notice how RTE in the article dont once discuss the real-world financial impact of what these rises mean to renters?
The headline should really read average rents rise by between €124 – €172 a month or €1.4k – €2k per year depending on if you’re in a city or more rural.
That’s €1.4k – €2k less a renter will have towards a mortgage deposit of which you also needed to find an extra €3k minimum due to rising house prices and 10% deposit.
So, about extra €4.4k – €5k extra needed to pay the bills and keep building a deposit.
Or the headline can say 6.9% and make it seem not as bad.
Well above inflation.
Surely at some point they will reach a point where people can’t actually pay.
I know it’s at that point already for many people but the fact that these rises can happen at this rate implies that some people are still out there who will pay this.
“You’ll Own Nothing,
And Be Happy”
It’s the same in so many countries now – a band in Australia even wrote a song about how fucked it all is (And it’s pretty funny).
I find it very odd how these types of articles always fail to mention that they are referring to newly advertised rentals only. An active rental property in the country is capped at an annual increase of no more than 1.6% for the last 12 months, as they cannot increase by more than inflation (which is currently 1.6%).
Supply and demand.
In other news water is wet and a Fianna Fáil landlord politician has taken a brown envelope to uphold an objection to a block of apartments.
Sorry I can’t hear you over the sound of champagne corks popping in the Dáil, as our property renting ruling class and their buddies celebrate another fierce bucket of milk.
10 comments
The real price gouging.
Notice how RTE in the article dont once discuss the real-world financial impact of what these rises mean to renters?
The headline should really read average rents rise by between €124 – €172 a month or €1.4k – €2k per year depending on if you’re in a city or more rural.
That’s €1.4k – €2k less a renter will have towards a mortgage deposit of which you also needed to find an extra €3k minimum due to rising house prices and 10% deposit.
So, about extra €4.4k – €5k extra needed to pay the bills and keep building a deposit.
Or the headline can say 6.9% and make it seem not as bad.
Well above inflation.
Surely at some point they will reach a point where people can’t actually pay.
I know it’s at that point already for many people but the fact that these rises can happen at this rate implies that some people are still out there who will pay this.
“You’ll Own Nothing,
And Be Happy”
It’s the same in so many countries now – a band in Australia even wrote a song about how fucked it all is (And it’s pretty funny).
https://www.youtube.com/watch?v=M9k-HerCr2g
I find it very odd how these types of articles always fail to mention that they are referring to newly advertised rentals only. An active rental property in the country is capped at an annual increase of no more than 1.6% for the last 12 months, as they cannot increase by more than inflation (which is currently 1.6%).
Supply and demand.
In other news water is wet and a Fianna Fáil landlord politician has taken a brown envelope to uphold an objection to a block of apartments.
Sorry I can’t hear you over the sound of champagne corks popping in the Dáil, as our property renting ruling class and their buddies celebrate another fierce bucket of milk.
(Not) nice
Comments are closed.