Ahh yes, but the couples earning 100k per annum see themselves as being so badly off and downtrodden. Poor darlings. Would 200k be enough for them?
>This means that a person on a salary of €100,000 would qualify under the eligibility criteria to buy an affordable home for €410,000.
>Mr Ó Broin said: “I don’t believe anyone on that income would have a difficulty purchasing a home at the moment, even with our very high prices.”
It’s a pity to see Ó Broin take this line. While the shared equity scheme is worse than useless, and not proper public housing, a couple on 50k each while being high earners are not wealthy and would struggle to afford housing in Dublin. Ó Broin in his book has talked about the importance of realising that subsidised, affordable, or public housing shouldn’t just be for the lowest earners:
>On this basis public housing does not need to be, and indeed should not be, restricted just to the very poorest in our society. In many other countries public housingis provided to a much broader mix of households with a wider range of income levels and economic circumstances than has been the case here. If we are serious about meeting social and affordable housing need, while at the same time ensuring our housing system has a significant non-market buffer to help maintain stability into the future, then we need a completely new conception of public housing from what has dominated to date. Public housing should be for all those people whose housing needs cannot be met by the market. And here housing need means access to an appropriate, secure and affordable home.
>. . .
> So who would live in these homes? They would be the temporarily unemployed and those permanently outside the labour market. They would be those in precarious, part-time or low-paid employment. They would also be those earning stable, modest and above average incomes, whether working class or lower middle class. They would be students, carers and pensioners. They would be people in a range of manual, service and clerical professions, of different ages, abilities and aspirations. Instead of social housing for the poor we would have public housing for a diverse range of people, all of whose housing needs are not currently met by the private market.
I’d have thought that the better attack line on this would be that it shouldn’t be necessary at all to have households with that kind of income needing state support.
Surely the outrage here should be that housing is in such low supply and unaffordable that even those considered as good earners need state support? I think SF risk alienating more people by taking the view that middle class people are not to be helped.
O’Broin is playing to the gallery here, he suggests an income limit of €85K with some leeway for those who can demonstrate they can’t get finance from a bank so basically the same but with extra steps.
The problem is the bank lending. A couple with a combined 60k should be given 300k mortgages. The replayment would still be half what they pay for rent so whats the risk? Oh yeah. That would kill the rental market and all the landlord boomers with second homes would have to sell. And no one would touch a flat.. sorry “”apartment”
If O’Broin thinks a couple or individual on income of €100k have no problem affording a house then a €410k house is, by definition, an Affordable Home.
He’s right. A couple earning 50k each doesn’t need help. Sure, you won’t be able buy a house in D4 but you’ll be able afford a new semi D on the outskirts. There’s a lot of people earning more than 50k in Dublin too.
I myself earn 50k, but I’m single. I can save about 20k a year right now.
Me on 25/30k a year, single and renting…….yeah I definitely have a chance lol
Ironic that SF TDs earning well in excess of 100k were also living in social housing…. Perhaps they should also vacate them and give them to someone earning less that 100k also because they have the means to purchase a home.
We are fucked if these ever get in.
A couple on a 100k in or around Dublin can get help to buy and buy a new build in Kildare. A couple on 100k anywhere else in the country won’t have a problem affording a house.
The real problem with this scheme is that they are only providing 550 houses. They should be providing way more than that and then people on 100k in Dublin won’t have a problem buying houses in the posh parts.
I think he’s made a good point but not articulated it. In essence the squeezed middle are being roasted alive , we need to stop this as there’s 2 million on welfare paid for by 1 million Paye – it has to stop as there’s no incentive to get off welfare and contribute. Free housing is fine but where it’s needed not wanted, I’ve worked in an industry where a curtesy look showed me the outright fraud of people earning 1500 a week on Irish n uk welfare being housed for nothing and working at the same time whilst sub letting the same house
Meanwhile those on 30, 40 50k can’t even afford the deposit or repayments.
Tory mentality
Wait does he mean a single earner or a couple? If so then 50k isn’t exactly a mental salary assuming it’s an even-ish split.
If he means an individual on 100k then that’s an absolute laughing stock.
Given the rate at which earners on 100k can save, in the same amount of time they will have **bought** **3** homes before a low earner had managed to save for **one house**.
In a restricted market this leaves very little housing for the low earners.
This is like class punishment. The whole fucking system is geared towards helping the top earners **more**
its another badly disguised swindle.
I was thinking about how much I’d need to be earning in order to be able to afford to buy a house as a single father of two.
I think it wouldn’t be far short of 100K realistically, especially when you consider trying to save for a deposit while renting.
It’s fucking shocking to think that pulling down 6 figures wouldn’t guarantee you being able to buy a house.
Why shouldn’t people in 100k be eligible? These people pay shed loads of tax and grt nothing back – theyd be better off financially literally any where else. If there’s a government subsidy if some sort going, they should get it
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Already posted this morning.
Ahh yes, but the couples earning 100k per annum see themselves as being so badly off and downtrodden. Poor darlings. Would 200k be enough for them?
>This means that a person on a salary of €100,000 would qualify under the eligibility criteria to buy an affordable home for €410,000.
>Mr Ó Broin said: “I don’t believe anyone on that income would have a difficulty purchasing a home at the moment, even with our very high prices.”
It’s a pity to see Ó Broin take this line. While the shared equity scheme is worse than useless, and not proper public housing, a couple on 50k each while being high earners are not wealthy and would struggle to afford housing in Dublin. Ó Broin in his book has talked about the importance of realising that subsidised, affordable, or public housing shouldn’t just be for the lowest earners:
>On this basis public housing does not need to be, and indeed should not be, restricted just to the very poorest in our society. In many other countries public housingis provided to a much broader mix of households with a wider range of income levels and economic circumstances than has been the case here. If we are serious about meeting social and affordable housing need, while at the same time ensuring our housing system has a significant non-market buffer to help maintain stability into the future, then we need a completely new conception of public housing from what has dominated to date. Public housing should be for all those people whose housing needs cannot be met by the market. And here housing need means access to an appropriate, secure and affordable home.
>. . .
> So who would live in these homes? They would be the temporarily unemployed and those permanently outside the labour market. They would be those in precarious, part-time or low-paid employment. They would also be those earning stable, modest and above average incomes, whether working class or lower middle class. They would be students, carers and pensioners. They would be people in a range of manual, service and clerical professions, of different ages, abilities and aspirations. Instead of social housing for the poor we would have public housing for a diverse range of people, all of whose housing needs are not currently met by the private market.
I’d have thought that the better attack line on this would be that it shouldn’t be necessary at all to have households with that kind of income needing state support.
Surely the outrage here should be that housing is in such low supply and unaffordable that even those considered as good earners need state support? I think SF risk alienating more people by taking the view that middle class people are not to be helped.
O’Broin is playing to the gallery here, he suggests an income limit of €85K with some leeway for those who can demonstrate they can’t get finance from a bank so basically the same but with extra steps.
The problem is the bank lending. A couple with a combined 60k should be given 300k mortgages. The replayment would still be half what they pay for rent so whats the risk? Oh yeah. That would kill the rental market and all the landlord boomers with second homes would have to sell. And no one would touch a flat.. sorry “”apartment”
If O’Broin thinks a couple or individual on income of €100k have no problem affording a house then a €410k house is, by definition, an Affordable Home.
He’s right. A couple earning 50k each doesn’t need help. Sure, you won’t be able buy a house in D4 but you’ll be able afford a new semi D on the outskirts. There’s a lot of people earning more than 50k in Dublin too.
I myself earn 50k, but I’m single. I can save about 20k a year right now.
Me on 25/30k a year, single and renting…….yeah I definitely have a chance lol
Ironic that SF TDs earning well in excess of 100k were also living in social housing…. Perhaps they should also vacate them and give them to someone earning less that 100k also because they have the means to purchase a home.
We are fucked if these ever get in.
A couple on a 100k in or around Dublin can get help to buy and buy a new build in Kildare. A couple on 100k anywhere else in the country won’t have a problem affording a house.
The real problem with this scheme is that they are only providing 550 houses. They should be providing way more than that and then people on 100k in Dublin won’t have a problem buying houses in the posh parts.
I think he’s made a good point but not articulated it. In essence the squeezed middle are being roasted alive , we need to stop this as there’s 2 million on welfare paid for by 1 million Paye – it has to stop as there’s no incentive to get off welfare and contribute. Free housing is fine but where it’s needed not wanted, I’ve worked in an industry where a curtesy look showed me the outright fraud of people earning 1500 a week on Irish n uk welfare being housed for nothing and working at the same time whilst sub letting the same house
Meanwhile those on 30, 40 50k can’t even afford the deposit or repayments.
Tory mentality
Wait does he mean a single earner or a couple? If so then 50k isn’t exactly a mental salary assuming it’s an even-ish split.
If he means an individual on 100k then that’s an absolute laughing stock.
Given the rate at which earners on 100k can save, in the same amount of time they will have **bought** **3** homes before a low earner had managed to save for **one house**.
In a restricted market this leaves very little housing for the low earners.
This is like class punishment. The whole fucking system is geared towards helping the top earners **more**
its another badly disguised swindle.
I was thinking about how much I’d need to be earning in order to be able to afford to buy a house as a single father of two.
I think it wouldn’t be far short of 100K realistically, especially when you consider trying to save for a deposit while renting.
It’s fucking shocking to think that pulling down 6 figures wouldn’t guarantee you being able to buy a house.
Why shouldn’t people in 100k be eligible? These people pay shed loads of tax and grt nothing back – theyd be better off financially literally any where else. If there’s a government subsidy if some sort going, they should get it