Because of what I just outlined.
I’d say ultimately those in their early 20s will be buying or getting their fixed abode earlier than Millennials did.
It’s the lads who never left their home town, still going out with the same girl since Junior Cert year who want to buy in their 20s. You’d want your head examined if you’re not still working through the dating apps in your 30s whittling down the options for a more suitable partner
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That’s the key. I started renting in current estate at 850 for a 3 bed in 2013. Saved probably a grand a month for 3 or 4 years. I now pay 1300 mortgage for a 4 bed. Current rent on a 3 bed is 2400
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Your other mate building must be nearly done now too? Going on a while!
What is AAA rated though? Is it A1 on the BER ratings? Or a passivhaus type set up? Building a home now is not cheap for fairly basic set ups.
Which is when it was very cheap.
You reference a 200% increase but there has also been;
- minimum wage was take home €1,400 pm then, it is €2,000 now
- net average income (median is better and also more specifically demographic info but there are limits) in Ireland in 2013 vs. today is €2,100 vs. €3,000
- starting teacher salary was €28k, now €41k
Overall wages have improved significantly.
And there now is also the Renters Tax Credit worth €750 per person.
Rent is probably still 15-20% over priced, but it isn’t as dramatic as you’d make out. Real rent inflation in Dublin has not been significant since Covid.
The people who were really fucked over are the generation who saw more uncertain jobs (starting careers later), suppressed wages and rents spiralling. They were then presented with terrible mortgage multiples and the need for a 20% deposit. And there were fuck all properties that were available for HTB.
I think it’s passive. It’s a wooden frame scandi type home.
My mate has apparently had tiling going on whilst he’s out of the country. His wife bought an induction hob in the UK without giving any thought to actually getting it to Ireland. She’s just messaged him to say it’s arrived, but it’s absolutely massive and how are they going to get it to Galway
How many rental properties do you own in utopia?
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How did ye get from Tralee to Dingle? I’d be surprised if there is a regular bus there these days even to meet the train
I was imagining being in Dingle without a motor and it wasn’t pretty
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Fully fitted out for 550k? (Please say it was)
Investment property is for mugs these days.
There’d be no big Island.
Relatives picked us up there. Long meandering trip to Ventry from there taking in many many pubs along the way
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It’s not a proper house then,more like a caravan
Afraid not.
https://twitter.com/garyseconomics/status/1845774676544360645?s=46
He makes an interesting point.
You’ll see the next time there’s a housing crash a small group of people will be lucky to strike and buy houses in Ireland.
The next housing crisis will then be much worse. The cycle just repeats its self over and over again. The super rich getting wealthier and everyone else’s competing against each other for the scraps.
I puked on the bus from Dingle to Tralee before as a young fella.
I had a feed of pints the previous night but didn’t think I was feeling too bad and even had a chicken roll from the Super Valu before leaving. I’d say halfway or so into the journey, my stomach started feeling off. And then, it just happened. I was glad there were so few people on the bus but I was covered in vomit. A horrendous waft in the August heat. I used my copy of The Irish Times to take the brunt of the action but it wasn’t fully puke-proof. At the Tralee bus station, I’d to go into the jacks and take off all my puke splattered clothes (thankfully I’d a change in the bag). Things were so bad that I just fucked the pair of jeans into the bin. And then I hopped on a bus back to Limerick, with a look of shame on my face.
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This is very unlikely. Even with the relaxation of mortgage rules, Ireland still has relatively strict ones that don’t allow people to too crazy. You do not have a scenario of a lot of people with small amounts of equity in their primary home (or second or third ones, often built poorly and sometimes poorly located).