You’d probably be better off in the stock market - the house is usually a leveraged amount which is a potential pro but also could be a disadvantage
It’s timing though. People were better off renting than owning in 2007-2012
This all started today with an article by Michael McDowell lads. Are we sure he’s right? It wouldn’t surprise me if he has ‘misinterpreted’ it. Giving all tenants permanent rights of tenancy after 6 months seems crazy. @glasagusban can you check please?
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Presume they can correct it
Their policy document talks about security of tenure and no forced eviction
Opportunity cost.
Houses are generally shit investments.
No mention there of permanent rivhts or them being awarded after 6 months.
It’s implied. Be interesting to see if they deny it.
No mention of it in either of those articles. Michael McPorky.
If we can’t trust the most conservative, populist and inept minister for justice that we’ve had in my memory to present a fair and balanced of SF policies then who can we trust?
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Tenancies of indefinite duration and no evictions is referenced.
I’m sure SF will correct the article if it’s not their policy.
did he ever adequately explain his role or thinking in the whole thornton hall fiasco?
Why did they sell tens of thousands of distressed loans at a discount then if the underlying asset was driving up the recovery value?
A word of warning slightly off topic. I still own my first house (by default as it was in massive negative equity for years).
I rented it out in 2017 when we moved to our family home. Brilliant tenants and never an issue. I actually (believe it or not) reduced their rent after the first year becsuse they were excellent, kept the place lovely and never an issue. It didnt make a whole pile of difference to me really as its a tracker mortgage and as long as it washed its face i was happy. The tenant’s (a hardworking family) were delighted.
Ive never increased the rent since then. Recently we were considering selling the house with the market being strong.
It was only when i did a few preliminary enquiries i found out that because i hadnt increased the rent by 4% annually the sale price would be badly effected if someone was looking to buy it to rent due to the fact the rent could only be increased by 4% from what it is now.
Id estimate you could easily get a 25% increase on the current rent price.
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You’re a decent sort.
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I would imagine there is literally no chance of a landlord getting caught out between tenancies or in the event of a change of ownership putting the rent up higher than 4pc?
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The paper valuation might suffer a small bit but given the amount of people looking to buy a home it seems highly unlikely you’ll lose out much if anything after the bidding process.
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Sounds like a plan
5,400 accounts. Let’s say average €200k each = about a €1bn euro
Spread over ten years and no doubt written off against profits to save on tax that is €100m a year. Across all banks. Lets call it €50m a year for AIB and BOI.
They use that drop in the ocean to justify charging us all full % points above what we should be getting charged, in some cases 2 & 3%.
The two banks made €2bn between them last year alone, by saying to you look over there it’s that’s guy who won’t pay his mortgage’s fault we are ripping you off. It’s nothing to do with the fact that we are absolutely fleecing you, while your tax money still repays the interest on the massive bailout we received
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I dont know a lot about it really but I’d imagine it would be the first thing that would occur to a purchaser for rent. Theres also a clear record of rent price with prtb who would be easily be able to compare it if new tenants were registered by a new purchaser.
If bought to live i obviously woukdnt have that problem.