That’s a view. Lots of people see things being done better elsewhere and wonder why we can’t do things better here, that’s a better view.
You’re accepting of the status quo. I don’t agree with that point of view. Agree to disagree.
What’s the rental market like in Cork and Galway now?
What’s the salary like there in comparison to Dublin?
I’m accepting of reality.
There are a number of issues with this. First how does taxing the proceeds encourage people to downsize. Second people need a nest egg to pay for the almost inevitable fair deal scheme. People who paid tax all their lives have to fund nursing home care out of their own resources. Next old people vote and vote in considerable numbers for FFG, so dipping into old people’s pockets is not something that an FFG government will likely do.
No, I think almost all sides in Ireland are against taxing wealth when it means personal wealth of the ordinary person i.e. their home.
I suppose in other countries the left would be more in favour of wealth taxes than they seem to be in Ireland.
You’re accepting of the status quo. People who are not will work, agitate or vote to change it. This is how society functions.
Telling people that emigration is a suitable option or solution is an awful attitude in my view.
Why not all properties?
I haven’t told anyone to emigrate.
I outlined it’s a viable alternative.
Burying your head in the sand and refusing to listen to or accept viable alternatives is just being outraged for the sake of it.
Moving to the capital city is a lifestyle choice, made the world over, and the world over there are sacrifices to be made for doing it. Why should Ireland be different?
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As far as I know house prices are absolutely off the chain in the types of cities that Dublin pits itself against for workers, SF, London, Paris, Barcelona and so on. A major part of the issue is a globalized highly paid mobile work force.
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I don’t think this can be done easily without tax implications. Can it? It would be viewed effectively as a gift and there are lifetime limits on that (linked to inheritance thresholds/tax).
Because landlords should not be incentivized and people hogging properties as commodities or investments are adding to the housing crisis.
You do know that the marginal rate of tax (i.e. circa 50%) applies to individual landlords on profits from rental and on top of that capital gains tax (i.e. 33%) applies on any capital gain achieved on the property.
I’d say most non-corporate landlords at this stage are leftovers from the 2000’s, often with apartments etc that are still in negative equity. Many are exiting the market every year for those reasons (as the stats will back up)
It can be done by changing the taxation laws. Take away any gifting tax breaks before death and it will allow people to stop moving property in a measure to avoid being taxed.
You said emigration is a suitable option for people that can’t afford to live where they are from, or who are affected by the housing crisis in general. I think that’s a terrible attitude. Was it for this the wild geese fled.
I’m not being outraged for the sake of it, don’t exaggerate. I just respectfully and completely disagree with you.
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Yes. I don’t think they should be able to make ANY money from owning additional properties, it should not be able to be profitable as if it is profitable and if it designed in a way that it can be very profitable then it damages those who have a genuine need to have a roof over their head and great benefits those with significant capital who want to further build their wealth.
We don’t compete against SF for anything would you come off it.
emigration is a suitable option. I’m not frog marching them to the airport. It’s been done for years. Refusing to accept there are alternatives and behaving like a child because things aren’t ideal for you is a terrible attitude in my book.
You’re giving a live example of the Dublin or nowhere mindset here, an absolute refusal to accept there are alternative ways to live
It does but a person who has a house in Leitrim or Laois doesn’t get that windfall a person who has happened to live in large parts of Dublin does just by the passage of time.
In any other situation a gain is taxed. There is now a real sense that home ownership is a wealth generation tool rather than a place to live. Maybe a tiered system of CGT would be palatable.
There’s a bigger issue coming down tracks in terms of how we fund and care for elderly people.
But I’d agree wit you it’s a complex area and doing one or two things can have unforeseen consequences.
That’s a good answer to a different question. I’m not arguing that all properties should be taxed.
Why do you think a PPR should not be taxed?
I don’t understand. Can you explain to me how parents can gift their kids a property without tax implications?