Very good piece. Deconstructs every thin argument about needing private landlords.
I don’t think you can make any sense of the governments actions over the past decade as anything other than intending to increase house prices.
The author argues that landlords are not really selling due to unfavourable conditions “considering that property prices have reached extraordinary highs since the pandemic, and given that rental properties represent financial commodities rather than homes for the people who own them, it should not be at all surprising that landlords are choosing this moment to cash out. ”
But she doesnt explain why new entrants to landlording are not entering the sector. She also writes
“many investors may believe that property prices right now are as high as they’re going to get. ”
Do they? I think many people also feel Irish property prices will continue to grow. What percent of people suggest no further growth? Ireland is booming. I see plenty of reasons to be bullish on prices.
​
“Landlords have no incentive to improve conditions in the housing market: their only incentive is to see rents and property prices increase ”
I dont know about that. Id much rather be a landlord of three properties with low rent than 1 property with 1 high rent. Landlords want to make money. Tenants want affordable rents. But affordability is no barrier to massive profits. Look at Apple or Google.
What a rubbish piece, just written to clickbait.
E.g.:
*The decision has not so far proven popular, except among the relatively small and wealthy population group who are themselves private landlords.*
That’s not true for starters. It can’t possibly be popular because the popularity hasn’t been determined.
If it isn’t popular then where are the marches out against it?
Any sensible person recognises that landlords are leaving the market because of government interference and we all know that the longer they keep this ban, the worse the effect is when it has to end. And it simply can’t be in place forever.
Sally Rooney would be better off writing pieces about nimbies and exposing them.
Hold firm.
An eviction ban isn’t a long term solution and the longer they hold off removing it the worse it’s going to get.
I personally know a landlord who’s keeping property vacant and off the housing market purely down to concerns over the eviction ban so there’s also downsides to this.
When the government gets their finger out and fixes the problem (via increased taxation of vacant property, increased regulation of short term letting and increased supply) and stop looking for a silver bullet escape route then we might get somewhere.
Absolutely sick of “intellectuals” masquerading as economists/political scientist.
Noam Chomsky is the same type.
She should just focus on trying to write a decent book
“Unless property is left vacant – a problem the Government can and should address urgently by means of targeted policies – the overall housing supply therefore cannot be affected by landlords entering or exiting the market.”
That is fundamentally untrue. Houses which are rented as house shares inevitably house more people than those which are owner occupied. Landlords selling off houses to first time buyers absolutely does reduce the availability of supply. It’s not a one-for-one balance.
Asking Sally Rooney’s take on economics and housing is just bizarre to me. Should we be seeking out Op-Eds from Cecelia Ahern on the climate emergency and war in Ukraine?
9 comments
Very good piece. Deconstructs every thin argument about needing private landlords.
I don’t think you can make any sense of the governments actions over the past decade as anything other than intending to increase house prices.
The author argues that landlords are not really selling due to unfavourable conditions “considering that property prices have reached extraordinary highs since the pandemic, and given that rental properties represent financial commodities rather than homes for the people who own them, it should not be at all surprising that landlords are choosing this moment to cash out. ”
But she doesnt explain why new entrants to landlording are not entering the sector. She also writes
“many investors may believe that property prices right now are as high as they’re going to get. ”
Do they? I think many people also feel Irish property prices will continue to grow. What percent of people suggest no further growth? Ireland is booming. I see plenty of reasons to be bullish on prices.
​
“Landlords have no incentive to improve conditions in the housing market: their only incentive is to see rents and property prices increase ”
I dont know about that. Id much rather be a landlord of three properties with low rent than 1 property with 1 high rent. Landlords want to make money. Tenants want affordable rents. But affordability is no barrier to massive profits. Look at Apple or Google.
What a rubbish piece, just written to clickbait.
E.g.:
*The decision has not so far proven popular, except among the relatively small and wealthy population group who are themselves private landlords.*
That’s not true for starters. It can’t possibly be popular because the popularity hasn’t been determined.
If it isn’t popular then where are the marches out against it?
Any sensible person recognises that landlords are leaving the market because of government interference and we all know that the longer they keep this ban, the worse the effect is when it has to end. And it simply can’t be in place forever.
Sally Rooney would be better off writing pieces about nimbies and exposing them.
Hold firm.
An eviction ban isn’t a long term solution and the longer they hold off removing it the worse it’s going to get.
I personally know a landlord who’s keeping property vacant and off the housing market purely down to concerns over the eviction ban so there’s also downsides to this.
When the government gets their finger out and fixes the problem (via increased taxation of vacant property, increased regulation of short term letting and increased supply) and stop looking for a silver bullet escape route then we might get somewhere.
Absolutely sick of “intellectuals” masquerading as economists/political scientist.
Noam Chomsky is the same type.
She should just focus on trying to write a decent book
“Unless property is left vacant – a problem the Government can and should address urgently by means of targeted policies – the overall housing supply therefore cannot be affected by landlords entering or exiting the market.”
That is fundamentally untrue. Houses which are rented as house shares inevitably house more people than those which are owner occupied. Landlords selling off houses to first time buyers absolutely does reduce the availability of supply. It’s not a one-for-one balance.
Asking Sally Rooney’s take on economics and housing is just bizarre to me. Should we be seeking out Op-Eds from Cecelia Ahern on the climate emergency and war in Ukraine?