39 thoughts on “Forever Blowing Bubbles

  1. Anomanomanom

    I’ve been told by three different people, two are estate agents and one works in a bank(lending department) that they expect prices to drop. Not a property crash but a significant enough drop in price. The estate agent advised my brother, just after he sold his property, to sit on his money till after Christmas.

    1. ollie

      He’d be a fool to lodge money in a bank.
      There are 10 2 bed apartments available for rent in Dublin 7 and 9 in Dublin 9.
      There’s no way property prices will fall significantly in the next 5 years.
      Your brother is now paying rent whild his money earns him 0.000000001%, not a good idea.

    2. Ollie Cromwell

      I always find estate agents a reliable indicator of the future of the property market …

    1. Joe Small

      I’m not a landlord but lazy generalisations such as “gouging” landlords don’t help explain anything. If you’re letting a property and you don’t seek the maximum allowed by the market then you’re a bit of a sap. Often the standard of property let isn’t great but if this was improved rents would probably rise even higher.

      1. Boj

        “lazy generalisations” against “gouging landlords” followed by “If you’re letting a property and you don’t seek the maximum allowed by the market then you’re a bit of a sap”

        Top class!

        1. Joe Small

          Its the same if you’re selling a car that’s worth €10,000 and you sell it for €7,000. That doesn’t make much sense. Its the capitalist system we live in. I’m not being callous, just factual. If we focus our wrath on landlords then we waste time not finding proper solutions to the housing crisis.

    2. ollie

      Anne, supply and demand. Gouging landlords lazy comment

      What about gouging Government, taking 52% tax on rent and not allowing legitimate business expenses to be offset? Also, treating taxation differently depending on who a landlord rents to?
      What about HAP tenants paying €65 a month in rent on a property renting for 1,450 on the open market? You are paying this rent as well as your own Anne, how does that feel?

      1. anne

        Increase supply.. build social housing. Landlords are a scourge on society. My taxes are enriching the gougers.

        Housing is a basic necessity not a commodity you can forgo.

        1. ollie

          Anne you are a fool.

          Your taxes are enriching those on HAP, the unemployed, Vradkar’s communications unit.

          WHether you like it or not landlords provide a service that a City can;t function without.

          1. anne

            I am not a fool.. you are the fool. ha ha

            private landlords are being enriched off of the backs of the working class.

      2. anne

        They can offset a lot, like 80% of the interest. They need to pay taxes like everyone else. My mortgage is my problem.. why should your mortgage be my problem too.

        1. Cian

          anne @12:23 “Increase supply.. build social housing”

          anne @12.25: “My mortgage is my problem.. why should your mortgage be my problem too.”

          Is this not a contradiction? If we build social housing are the tax payers (mortgage holders) not effectively paying the mortgage for the socially housed?

          1. anne

            no.

            Tax is paid on income, but landlords want to accumulate assets (houses) tax free, wanting to offset the full mortgage. not going to happen.

            Mortgages eventually get paid but who do we want to own the assets .. the state or private landlords. much cheaper for the state to own the debt, building social housing than throwing hundreds of millions into private landlords bank accounts.

        2. ollie

          It’s actually 75% of interest.
          LAndlords also pay for Tenants service charges and refuse collection. Property tax can’t be offset against income.

          My 3 mortgages are my problem, not yours.

          1. Brother Barnabas

            It’s actually 85% as of January 1, 2018 (was 80% in 2017, 75% in 2016… will be 90% in 2019 etc)

          2. Brother Barnabas

            property tax and rates are not the same thing

            you can’t claim tax relief on tax

  2. Col

    “Surely it’s just bubble pumping, no?”

    I’d like to think it’s a warning that the powers-that-be might take heed of. Not confident though.

  3. dav

    Remember people, that is why they were bailed out – to make the exact same mistakes again. It’s not as if they learnt from them the 1st time, eh!

  4. Joe Small

    “Oh people can come up with statistics to prove anything Kent. Forty per cent of all people know that.”

    1. Rob_G

      I’m not a landlord (and until very recently I was a tenant), but the housing crisis wasn’t caused by landlords, it was caused by poor policymaking.

      As for ‘gouging’ – if your employer wanted you to work for 40k, but you knew there were other people similar work for 50k, would you ask for 50k, or would that be ‘gouging’ as well?

      1. D

        And the policymakers are 25% what? Oh it couldn’t be that they are landlords. I wonder how many of them are married to landlords or landladies?

        The game is rigged as they say.

  5. ollie

    Anne, social housing is rented to Tenants by Housing co-ops, local authorities, etc.
    Do you know what that makes them?
    LANDLORDS

    Or do you propose giving these houses away?

    1. Rob_G

      Anne will be along in a minute with some 15 min long Youtube videos that will disprove supply and demand

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