I know that, but iirc at the height of the last tiger, it was running at tenfold
Indeed. But running at 6.8 times just means massively out of reach for mostā¦albeit heavily skewed in the major cities Id say
Iād have thought the same, like I said, it makes no sense, but it seems to be that way in the western economies inhabited by the property owning obsessed, ie, Ireland and the UK in particular.
How will people who rent afford to do so when they retire?
You mean how will they afford it when they are working
I know! In response to flatty above, I can totally understand the desire of people to own their own property. It gives them a sense of security for later on in life.
The Irish property market is completely skewed to owning. Youāve no security of tenancy, rents are gone mental and most rental places are low quality and full of shite furniture. Itās all designed for young people basically.
The āEuropean Modelā we so idolise has its own issues as well. Chief among them as you say never owning the asset at the end.
Thereās no perfect system, just the rich getting richer until the poor revolt. Itās always been thus.
To me itās pretty bizarre that itās more expensive to rent a property than it is to own one.
Same as renting a chainsaw or anything else. Otherwise thereād be no point in owning one.
Itās a sign of a truly dysfunctional property market. The buck stops with Minister of Housing as policy after policy has proved an abject failure.
It must be soul destroying for individuals and families to be paying current rents but no hope of getting on the property ladder. This is especially acute as the latter would give them more disposable income and a higher quality of life. Very sad and wrong.
Tax the slum landlords at 70%.might free up a few houses.
You dont need a chainsaw every day.
You do need a house. If you needed a chainsaw every day youād buy one.
I am visting inlaws at the moment who are stanch fine galers. I had a blazing row with sister in law who suggested that people who cannot afford current rents or houses should simply move to cheaper counties. She could not get her head around the fact that the support of family and friends are important to ones sense of well being.
Fine Gael and their supoorters are all cunts mate.
30 odd per cent of the population are cunts? Would being a landlord automatically make you a cunt?
He owns a tenement flat
His permanently snarky persona is quite intimidating.