Very popular with the Asian community that a couple will move into a home and bring their elderly parents as well
This is absolutely absurd. Not so long ago a single income was enough to get on the property ladder, then you needed dual incomes, and now people are coupling up to buy a home 🤦🏻♂️. This is actually heart breaking. I really feel sorry for the younger generations.
so who gets to keep the house in the end? rock paper scissors?
It’s not aimed at Irish people, more the Asian community. Again, it’s not going to be dealt with, and more and more irish people won’t be able to buy homes. How can a single person compete against 4 people?
I’m really getting fed up with our “ah sure be grand” government and peoples attitudes to this. It won’t be grand. It’s gotten worse year after year.
We aren’t building enough homes for the Irish or the people coming in. 300k have come in the last few years, and no one is saying anything about it.
I would hate to be a recent graduate. There is no hope of a decent job or getting a house.
We are asleep at the wheel.
[removed]
Primarily Indians / South Asians who don’t mind sharing houses with another couple / extended family. Something doesn’t sit right with this. They’re obviously just as entitled to buy property as native Irish people but this is the sort of thing that kills your hope when you realise you’re competing against 4 income streams to buy the same property!
Until the government sorts out supply my fear is tension on immigration issues are going to keep rising with housing issues like this fanning the flames
Is there intergenerational mortgages yet ?
It is very painfully clear to anyone currently in the process of viewing or buying properties in new estates that this is aimed at Indian and asian families in particular.
Irish couples just can’t compete with this. I genuinely have no idea why, in the middle of a housing crisis, we dont follow the likes of Switzerland and Denmark and put restrictions on non-citizens owning properties.
It’s even more ironic that in India, significant restrictions are placed on non-citizens owning property
In 5-10 years you’ll start seeing newspaper reports of people stuck in awful situations because of these types of multi buyer mortgages.
They are a nightmare.
Fuck this. This does not belong in this country.
Young Irish people being squeezed out even further.
There needs to be legislation brought in to stop this immediately.
All this does is increase the price points exponentially it helps no one out at all its crazy.
If let go, this will become the norm rather than the exception as banks and sellers will increase the price to the limit meaning only 4 people together can afford it. Its utterly abhorrent.
Some time down the line, only the very wealthy will actually own a home. Most people will end up renting a house from one of these vulture fund crowds. We’re almost there, but most likely it will be the norm soon enough. I fear for my children and all children in this country.
This article/thread will have people riled up at Indians. The reality is that you aren’t competing against four Indians for a house. What you are competing against is people receiving parental gifts to help buy their homes. There will be many multiples more of people receiving 6 figure gifts a year than Indians buying in groups of four. There will be 1000X as many people getting deposit size gifts than 4 Indians buying houses together.
If you are really concerned about the market being skewered against a hard working single or a couples income, this is your real enemy.
Intergenerational will be next.
As time goes on emigrating seems like the right call more and more
I think we should only allow Irish citizens to buy land/property.
Honestly, what an absolute mess this country has become over the last few years sky-high house prices, crumbling infrastructure, zero control over asylum numbers. And now we’re seeing the market pushed even further by couples teaming up to inflate mortgage capacity.
Let’s be honest, I doubt it’s mostly Irish couples doing this. And in the middle of a housing crisis, it’s not unreasonable to suggest that home ownership should be prioritised for citizens until supply catches up with demand. Other countries like Canada and Australia have already brought in restrictions on foreign buyers to help ease pressure.
Instead, we get more lip service and no action from the usual suspects Micheál Martin and Simon Harris, the gombeens running the show.
No thanks
As rightly pointed out by the majority here, this product offering is aimed at the Indian community here.
The government has slept walked into a huge mess on this, as resentment is mounting among many trying to rent or buy against immigrants and given the news this week that only 6k+ commencement notices were lodged, the outlook for housing delivery in the immediate future is grim which will only further exacerbate the resentment of people.
The fear with the above is that it pushes people further to the extreme right and given that the far right here have so far been a bunch of incompetent clowns. I don’t think it will be long until they attract competent individuals and establish a political party of professional standards, it’s happened all across the continent with the AfD being the best example.
There are approx 80,000 Indians in Ireland, i has to Google it because after reading the comments on how in a few years there be no housing left at all cos those lads are going to own it all. Once again you have drank the Kool Aid. Indians have not caused our housing crisis that was good ole Irish Politicians, bankers, planners and developers. Please aim your anger at the right people. I’m pleased with 4 people mortgage as it means if I do go into a care home my 3 kids may be able to keep the family home when I die, happy days.
We’ve now got banks offering the ability to purchase a house share. That’s depressing.
One of the most liberating aspects of purchasing your own home for many folks is no longer having to share the gaff with your roommate/stranger.
Now it shall become the de facto mortgage method.
Ireland is not alone. Beware of populist rightist governments promising they’ll fix it – they won’t.
[removed]
Non citizens should not be allowed to buy property in Ireland, rent until you get citizenship then you get the privilege, the Irish have been too kind.
I understand people saying “we need legislation brought in to restrict foreign ownership”, and many other sensible legislative suggestions.
Given that the government obviously _wants_ the housing crisis and won’t do these sensible (for us, not them) things – why have people not yet graduated to:
“We need to _force_ the government to do this, by whatever means possible, ethics and morals be damned as my life/future is on the line!”
Do politicians have to be physically slapping you in the face before you defend yourselves or something?
Pushing irish families out of potential homes in favour of doubling up foreign families will only feed far right ideas and make the irish people more racist and intolerant. Which is not good for anyone living here. Our government doesnt care about us and its that simple.
Ridiculous.
They’re already basically forcing people into marriage to combine income.
The lending rules here make zero sense.
Paying half your income in rent, when a mortgage payment is basically half the amount the rent is, but you’re trapped as it’s not accepted as proof of ability to pay, and they won’t lend more than 4 times your income, so you’ve to find someone earning the same as you, to be able to afford to buy the property you’re already living in and paying twice as much as a mortgage payment for every month 🤪
Obviously house prices are disgraceful and one person should be able to afford their own home but this article is a bit hysterical.
The broker in the article has arranged 10 of these deals in 6 months which is a tiny amount. Also, and this is a bit snotty of me, the mortgage advisor talking about it looks like the biggest snake oil salesman going.
30 comments
I’ll have to suggest this to the wife.
Very popular with the Asian community that a couple will move into a home and bring their elderly parents as well
This is absolutely absurd. Not so long ago a single income was enough to get on the property ladder, then you needed dual incomes, and now people are coupling up to buy a home 🤦🏻♂️. This is actually heart breaking. I really feel sorry for the younger generations.
so who gets to keep the house in the end? rock paper scissors?
It’s not aimed at Irish people, more the Asian community. Again, it’s not going to be dealt with, and more and more irish people won’t be able to buy homes. How can a single person compete against 4 people?
I’m really getting fed up with our “ah sure be grand” government and peoples attitudes to this. It won’t be grand. It’s gotten worse year after year.
We aren’t building enough homes for the Irish or the people coming in. 300k have come in the last few years, and no one is saying anything about it.
I would hate to be a recent graduate. There is no hope of a decent job or getting a house.
We are asleep at the wheel.
[removed]
Primarily Indians / South Asians who don’t mind sharing houses with another couple / extended family. Something doesn’t sit right with this. They’re obviously just as entitled to buy property as native Irish people but this is the sort of thing that kills your hope when you realise you’re competing against 4 income streams to buy the same property!
Until the government sorts out supply my fear is tension on immigration issues are going to keep rising with housing issues like this fanning the flames
Is there intergenerational mortgages yet ?
It is very painfully clear to anyone currently in the process of viewing or buying properties in new estates that this is aimed at Indian and asian families in particular.
Irish couples just can’t compete with this. I genuinely have no idea why, in the middle of a housing crisis, we dont follow the likes of Switzerland and Denmark and put restrictions on non-citizens owning properties.
It’s even more ironic that in India, significant restrictions are placed on non-citizens owning property
In 5-10 years you’ll start seeing newspaper reports of people stuck in awful situations because of these types of multi buyer mortgages.
They are a nightmare.
Fuck this. This does not belong in this country.
Young Irish people being squeezed out even further.
There needs to be legislation brought in to stop this immediately.
All this does is increase the price points exponentially it helps no one out at all its crazy.
If let go, this will become the norm rather than the exception as banks and sellers will increase the price to the limit meaning only 4 people together can afford it. Its utterly abhorrent.
Some time down the line, only the very wealthy will actually own a home. Most people will end up renting a house from one of these vulture fund crowds. We’re almost there, but most likely it will be the norm soon enough. I fear for my children and all children in this country.
This article/thread will have people riled up at Indians. The reality is that you aren’t competing against four Indians for a house. What you are competing against is people receiving parental gifts to help buy their homes. There will be many multiples more of people receiving 6 figure gifts a year than Indians buying in groups of four. There will be 1000X as many people getting deposit size gifts than 4 Indians buying houses together.
If you are really concerned about the market being skewered against a hard working single or a couples income, this is your real enemy.
Intergenerational will be next.
As time goes on emigrating seems like the right call more and more
I think we should only allow Irish citizens to buy land/property.
Honestly, what an absolute mess this country has become over the last few years sky-high house prices, crumbling infrastructure, zero control over asylum numbers. And now we’re seeing the market pushed even further by couples teaming up to inflate mortgage capacity.
Let’s be honest, I doubt it’s mostly Irish couples doing this. And in the middle of a housing crisis, it’s not unreasonable to suggest that home ownership should be prioritised for citizens until supply catches up with demand. Other countries like Canada and Australia have already brought in restrictions on foreign buyers to help ease pressure.
Instead, we get more lip service and no action from the usual suspects Micheál Martin and Simon Harris, the gombeens running the show.
No thanks
As rightly pointed out by the majority here, this product offering is aimed at the Indian community here.
The government has slept walked into a huge mess on this, as resentment is mounting among many trying to rent or buy against immigrants and given the news this week that only 6k+ commencement notices were lodged, the outlook for housing delivery in the immediate future is grim which will only further exacerbate the resentment of people.
The fear with the above is that it pushes people further to the extreme right and given that the far right here have so far been a bunch of incompetent clowns. I don’t think it will be long until they attract competent individuals and establish a political party of professional standards, it’s happened all across the continent with the AfD being the best example.
There are approx 80,000 Indians in Ireland, i has to Google it because after reading the comments on how in a few years there be no housing left at all cos those lads are going to own it all. Once again you have drank the Kool Aid. Indians have not caused our housing crisis that was good ole Irish Politicians, bankers, planners and developers. Please aim your anger at the right people. I’m pleased with 4 people mortgage as it means if I do go into a care home my 3 kids may be able to keep the family home when I die, happy days.
We’ve now got banks offering the ability to purchase a house share. That’s depressing.
One of the most liberating aspects of purchasing your own home for many folks is no longer having to share the gaff with your roommate/stranger.
Now it shall become the de facto mortgage method.
Ireland is not alone. Beware of populist rightist governments promising they’ll fix it – they won’t.
[removed]
Non citizens should not be allowed to buy property in Ireland, rent until you get citizenship then you get the privilege, the Irish have been too kind.
I understand people saying “we need legislation brought in to restrict foreign ownership”, and many other sensible legislative suggestions.
Given that the government obviously _wants_ the housing crisis and won’t do these sensible (for us, not them) things – why have people not yet graduated to:
“We need to _force_ the government to do this, by whatever means possible, ethics and morals be damned as my life/future is on the line!”
Do politicians have to be physically slapping you in the face before you defend yourselves or something?
Pushing irish families out of potential homes in favour of doubling up foreign families will only feed far right ideas and make the irish people more racist and intolerant. Which is not good for anyone living here. Our government doesnt care about us and its that simple.
Ridiculous.
They’re already basically forcing people into marriage to combine income.
The lending rules here make zero sense.
Paying half your income in rent, when a mortgage payment is basically half the amount the rent is, but you’re trapped as it’s not accepted as proof of ability to pay, and they won’t lend more than 4 times your income, so you’ve to find someone earning the same as you, to be able to afford to buy the property you’re already living in and paying twice as much as a mortgage payment for every month 🤪
Obviously house prices are disgraceful and one person should be able to afford their own home but this article is a bit hysterical.
The broker in the article has arranged 10 of these deals in 6 months which is a tiny amount. Also, and this is a bit snotty of me, the mortgage advisor talking about it looks like the biggest snake oil salesman going.
Comments are closed.