You can all now move north vote for a united Ireland buy a house for 200k and live on the 400.
IrishLad1002 on
Don’t worry guys. I’m sure the government are “monitoring” the situation. It’s not like the housing crisis has existed and continued to rot and worsen since circa 2015. Investment funds continue to buy up family homes to rent.
Has the government done anything in the past 12 years to help its citizens in this crisis ?
AdministrativeEnd388 on
It’s all going to go bang isn’t it ? Accelerating house prices and debt levels meet generational energy / inflationary shock .not a happy mixture I would think
Old-Structure-4 on
The only thing you can do is buy ASAP. All the people trying to time the market are off the wall.
Any_Comparison_3716 on
But is the goal to bring houses prices down?
Or to somehow maintain the market level (and household debt level) while slowly increasing supply.
Both have negative impacts for the economy and the general population.
GerKoll on
Well….thanks to the two idiots, oil and gas prices will continue to rise, which fuels inflation which means the interest rates will go up again thus making mortgages more expensive. That ought to take care of that soon enough….
Far-Effective-6174 on
“Momentum building” translation “This is fucked.”
Unique-Mixture2054 on
Basically inflation. Inflated salaries, inflated household income, two working people households. Inflated labour costs and inflated costs of materials. Why would they sell cheap if there are still bunch of buyers who can afford it? Paper money is devaluing fast, look at USA becomes a norm to pay 10k mortgage and 2 k for cars. Mind bogling what 2k salary could get you in Dublin 20 years ago, now it is nothing.
notarobat on
The reason it’s so high is because people will pay it. Real estate agents tell them that’s a fair price and they believe them lol.
If we had the same ratio as Ho Chi Minh city, an average home would cost about 1.6 million euro and most likely be a shitty 2 bedroom apartment in a developing country.
wrghf on
We really are hurtling towards a point where whether you or your parents own your own home will become the defining feature of real wealth, even irrespective of salaries.
We’re already seeing homeownership rates drop, the average age of first time buyers creeping up, the number of young people living at home with their parents going up, and number of homeless going up fairly consistently, and the government just doesn’t seem to give a single solitary fuck.
It’s been getting worse for basically my entire adult life now and it shows no sign of getting any better over the next 5-10 years.
It’s depressing as hell.
anatomized on
the bottom isn’t going to drop out of this so long as “institutional” investors are still buying houses, and driving prices up.
this is the economic plan largely throughout the west. this is what they want. we will own nothing.
DrZaiu5 on
To afford a house at this price, if you managed to get together a deposit of 100,000, you would need an income of over 125,000 to be able to borrow the remaining 500,000.
The median salary is roughly 43,000 (probably a bit higher in Dublin) so even with two incomes you wouldn’t be close to affording the average house. And again, this is assuming you can borrow 100,000, which is going to take an awful long time on the median salary.
13 commenti
You can all now move north vote for a united Ireland buy a house for 200k and live on the 400.
Don’t worry guys. I’m sure the government are “monitoring” the situation. It’s not like the housing crisis has existed and continued to rot and worsen since circa 2015. Investment funds continue to buy up family homes to rent.
Has the government done anything in the past 12 years to help its citizens in this crisis ?
It’s all going to go bang isn’t it ? Accelerating house prices and debt levels meet generational energy / inflationary shock .not a happy mixture I would think
The only thing you can do is buy ASAP. All the people trying to time the market are off the wall.
But is the goal to bring houses prices down?
Or to somehow maintain the market level (and household debt level) while slowly increasing supply.
Both have negative impacts for the economy and the general population.
Well….thanks to the two idiots, oil and gas prices will continue to rise, which fuels inflation which means the interest rates will go up again thus making mortgages more expensive. That ought to take care of that soon enough….
“Momentum building” translation “This is fucked.”
Basically inflation. Inflated salaries, inflated household income, two working people households. Inflated labour costs and inflated costs of materials. Why would they sell cheap if there are still bunch of buyers who can afford it? Paper money is devaluing fast, look at USA becomes a norm to pay 10k mortgage and 2 k for cars. Mind bogling what 2k salary could get you in Dublin 20 years ago, now it is nothing.
The reason it’s so high is because people will pay it. Real estate agents tell them that’s a fair price and they believe them lol.
We are at 215th in the world according to [source](https://www.numbeo.com/property-investment/rankings.jsp)
If we had the same ratio as Ho Chi Minh city, an average home would cost about 1.6 million euro and most likely be a shitty 2 bedroom apartment in a developing country.
We really are hurtling towards a point where whether you or your parents own your own home will become the defining feature of real wealth, even irrespective of salaries.
We’re already seeing homeownership rates drop, the average age of first time buyers creeping up, the number of young people living at home with their parents going up, and number of homeless going up fairly consistently, and the government just doesn’t seem to give a single solitary fuck.
It’s been getting worse for basically my entire adult life now and it shows no sign of getting any better over the next 5-10 years.
It’s depressing as hell.
the bottom isn’t going to drop out of this so long as “institutional” investors are still buying houses, and driving prices up.
this is the economic plan largely throughout the west. this is what they want. we will own nothing.
To afford a house at this price, if you managed to get together a deposit of 100,000, you would need an income of over 125,000 to be able to borrow the remaining 500,000.
The median salary is roughly 43,000 (probably a bit higher in Dublin) so even with two incomes you wouldn’t be close to affording the average house. And again, this is assuming you can borrow 100,000, which is going to take an awful long time on the median salary.