42 thoughts on “Something Has To Give

  1. Nancy Pelosi's Cave

    Please, the TDs are rubbing their hands in glee. Half of them are landlords, buying property and securing loans on the back of the ridiculous sums of money they award themselves from the people’s treasure.

    They have a strategic interest in engineering the problem of peak homelessness.

    1. Col

      Historically, it had been in politicians interest to let prices go up. Most voters own property. House price increase make them feel more secure and better off. This will factor in to their thinking come election time.

      Nowadays, however, I think people are more worried for their kids and grandkids. They know this is not sustainable and realise the government have completely dropped the ball on this one.

      1. Nilbert

        Isn’t that a bit hysterical though? I can’t imagine my grandparents ever being that worried about my ability to get a mortgage/buy a house many years down the line.

        1. Col

          Some people have grandchildren who are struggling at present.
          I think you need to look up the definition of hysterical.

  2. Ian-O

    My sister in law recently sold her home and was hoping to move into her new build straight after, however, problems with the build meant she has been, with her husband and 3 young children, moving from relative home to home waiting for the build to be finalized. She saw a place in Balbriggan for 1800, knows the estate its in so familiar enough with the houses there. Spoke to estate agent for a viewing, was told they had someone else on the way in with the deposit so they could take it there and then without a viewing, after several weeks moving about she was so fatigued she just said yes and paid there and then.

    Suffice to say the place was utterly filthy, one of the two toilets blocked and stinking, washing machine doesn’t work etc. back garden looks like it may never had seen a lawnmower and would need to be completely stripped away and on and on with the problems.

    She has spoken to the PTRB but not much they can do, not much anyone can do. This is all deliberate, when you allow a situation where people can pretty much do what they like, they will. And they do.

    She’s lucky though as her own home will be online soon, but what of all those others? What of all these immigrants we need to keep the economy growing, where will they like? According to @campaignforleo its all rosy in the garden. As Leo says, No Kidding!

    Fupping joke.

    1. anne

      The builders have it sown up too. What are you supposed to do if you’re selling a house & waiting on a new build? They need to commit to a very specific timeframe bearing in mind families have houses to sell & are effectively homeless then…instead of taking deposits from everyone in a new build estate & stage payments too very likely. It’s all to suit them. Getting money up front giving timelines they have no possible way of sticking to.

  3. SOQ

    Just wondering – What percentage of people live in privately rented accommodation? And given the population increase, has that gone up or down?

    1. Fact Checker

      It’s about 20% of households.

      There has been a big increase in the share in the last 15 years or so.

      1. Col

        “Home Ownership Rate in Ireland decreased to 69.80 percent in 2016 from 70 percent in 2015. Home Ownership Rate in Ireland averaged 74.16 percent from 2003 until 2016, reaching an all time high of 81.80 percent in 2004 and a record low of 68.60 percent in 2014.”
        from https://tradingeconomics.com/ireland/home-ownership-rate

        For some further context, here is home ownership rates across Europe: https://www.statista.com/statistics/246355/home-ownership-rate-in-europe/

        1. SOQ

          So roughly one in five but I expect that is higher in urban areas, especially Dublin.

          Quite a sizeable chunk of the electorate eh?

          1. Col

            Unfortunately, only Irish and UK citizens can vote in Dáil elections. And many renters are of an age demographic that vote less. Maybe they will be moved to ensure they are registered next time though.

    1. Fact Checker

      Not really.

      It’s the inevitable outcome of:
      1) tight restrictions on building
      2) few restrictions on migration and a booming economy

      1. newsjustin

        The individual, and in some cases region specific, reasons are market related. It’s Economics 101. I get that.

        But it is a failure of governance (a failure to act to bring it to an end) to have a rental market persist that is soooo tight that a portion of the population with decent prospects, jobs, etc are desperate for homes, scared of ever having a tenancy end, and having to queue up like suckers on a Saturday, essentially begging to rent an expensive property.

        I’m not really a big-state, interventionist kinda guy. But certain situations require the State to act in the best interests of it’s citizens….without going full Commie on it. And no, I don’t know what the solution is.

  4. Wilhelm

    I feel sorry for the parent with the baby. They have no chance. Better don’t mention you’ve a kid cos it will be held against you.

    1. Junkface

      I agree. If you are young, don’t waste your youth struggling with this housing mess in Ireland. There are fantastic cities all over Europe that are only 2 or 3 hours away. No city is worth the trouble of Dublin right now. Total waste of money

      1. Mel

        Yep, totally agree. It makes no sense for a young person to hang around and endure this poopie-poopie-pie.

      1. newsjustin

        Yeah. That’s the problem right now in Dublin Hoop. Too many of these young people not working hard enough. And eating avocados.

      2. pedeyw

        I’m not especially young but I still can’t save for a deposit. I don’t have a family home I can move into and still have a job. I couldn’t get a job straight out of college cos I graduated in 09. I also have that crippling avocado habit but as I previously mentioned I have offered several banks the price of an avocado every day in exchange for a mortgage but they never seem to go for it. Maybe I could throw in a 500ml bottle of San Pellegrino.

  5. Spud

    *awaits someone pointing out the bottle of San Pellegrino in the rucksack….

    ‘no wonder this generation can’t afford homes… something something…. not saving…. something…. entitled!!!

    1. topsy

      If you are earn, say, €50k pa and renting for €1000k pm. it is near impossible to save for a deposit and again next to impossible to secure a mortgage to buy a decent 2 bed house/apartment. So think it through before you post.

        1. pedeyw

          It’s funny though, I have offered several banks the price of an avocado every day in exchange for a mortgage but they never seem to go for it. I even upped it to two per day at one point.

  6. Worlds Biggest Ranter

    Oh absolutely get out. And its not just the fupped up housing system (which will inevitably crash at the end of all this, then ironically the banks wont lend you the small amount you’d actually need to buy a property) Its the opportunities elsewhere. The Glass ceilings in this country are not very high but high enough to lure you in to the spin. Once you’re in so far then there’s to much to lose to go back. You’re trapped. The States, Canada, the emerging new economy middle eastern power houses, where ever.

    Go out and expand yourself or alternatively stay here, pay nearly 50% of everything you earn (if you’ve managed to get yourself in to a good position in life) in taxes only to have to pay for health care cover on the double. Then after all that pay a ridiculous amount of money for an over priced property with some of the highest interest rates in Europe! Man if I was twenty something again!

    1. Ian-O

      I have several cousins who are in their mid to early 20’s and have graduated in different disciplines from engineering to accountancy and most have gone to the US, Canada, Australia etc. and most have no intention of permanently returning anytime soon.

      Can’t say I blame them?

      1. Martco

        well @Ian-O
        (and this ain’t gonna sound too good to a lot of people) I’m actively prepping my eldest pair to have the flexibility to emigrate out to wherever suits best when their time comes.

        I know of two fools who fell for the oul sod argument and seriously regret it now. to fupp the oul sod & deh craic mentality I say.

        the prospect of owning your own home was one of the few advantages it had.

        this country is broken for the vast majority…what’s the point honestly?

        1. Ian-O

          It’s depressing Martco. I was called nuts back in the mid 90’s when I bought my first home, was only in my mid 20’s at the time, traded up twice to where I am now (bought in 2003 at a reasonable enough price) so I count my stars I did so and have paid a significant chunk off my mortgage at this stage.

          What on earth can those in their mid 20’s do these days, even being highly qualified and hard working and motivating. They get up in the morning but I still don’t see Leo doing much for them.

  7. harry

    Another property crash in the making
    Remember the queues before 2008 when burger vans were serving waiting students paid to line up and sleep overnight to secure a unit on a plan
    And this time we have nothing left
    History is indeed repeating its self

  8. diddy

    factor in the LL Cannon fodder that is non EU language students in their thousands depsite the ever deepening crisis. ad on a Mexican FB page yesterday looking for 600 a bed in a shared room in the wilds of poppintree. expect the squeeze to continue as demand continues to outsrtrip supply and landlords can set market rates.. thank you fine gael

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