There is definitely a generational gap. But loads of people who can’t buy a house now really mean they can’t buy a house somewhere ideal. Loads of affordable houses in Dublin in tallaght or blanchardstown if you wanted to buy there and commute into google or facebook
I’d imagine you’d need to factor in capital costs incl maintenance and possibly interest on finance. On a €300k property I think 7-8% would be a reasonable yield. 8% yield would be €24k
How much are they to hire , if to get one soon myself
It would be cheaper if you just climbed into a bin
Iv my own house you dope , my mother isn’t doing my washing for me .
What’s the story with all these houses with asking prices ‘Price on application’? Is it purely so that the nosy neighbor Breda from down the road won’t know what you are asking for the house or is there more strategic method to it? We missed out on a house we’d have likely bought a few years ago because we’d only been searching for houses priced between price A and price B. This house was exactly what we wanted and in our price range, we only knew by randomly passing it one day on a road we wouldn’t normally venture. When I searched online it was there alright but not coming up in my searches as was ‘Price on application’. When I rang the estate agent I was told it was gone sale agreed not long before.
There’s one agent in Limerick and almost all their houses are ‘Price on application’ the bastards. Sure once Breda rings up they release the price.
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They mostly had kids younger with the average age of getting married way lower. There was always the threat of unemployment. There were different challenges then versus now (to claim paying for a mortgage back then was easier is laughable alright), but there also different societal norms that encouraged home buying.
And even if not coupled up, 30 years ago you could buy a house a single young professional in a nice middle class area.
15 years ago 100% mortgages were available for a single young professional to buy somewhere.
What you refer to above is really “fuck it” money. 6/7k of annual wasteful spending. 10 years ago you had a large cohort of 20 somethings out of work who were told house purchasing was a cod and who lost years of their potential careers due to the GR. They just spent on travelling and the good life instead & were continuing the longer trend of coupling up later. Now they are in their early to mid 30s and trying to get on the ladder with little to no savings & starting families. Most of them never expected the property market to come back like it did and that the rental market would squeeze the way it did. If you’re single, it is very difficult to get on the ladder without significant outside help. Nobody wants to be 32 with no savings and been told you need at least €30k to buy somewhere.
If we could sort out the rental market, people would be more accepting of it. Unfortunately, outside of places like Dun Laoghaire Rathdown (where the number of apartments built exploded before and during the Celtic Tiger), we don’t have a good enough apartment stock to service people’s needs. Planning needed to be liberalised and the current Minister for Housing did that but got nothing but abuse for it.
I did used to subscribe to the grand boomer conspiracy on NAMA and house prices, but it really is far more nuanced than that. Millennials are not blameless in taking such a reckless approach to money, despite what Glas might claim. Financial literacy has a long way to go for people.
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They’re all Green voters so would need segregated cycle lanes.
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Back then it was all about existing, now it’s all about living, and bitching
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Anyone follow the view from my window page on facebook? It started as a solidarity during the pandemic thing but is now a bit of a keeping up with the jones effort as people outdo each other with pictures of stunning back yards with pools etc or overlooking bays or mountains. Itd be dispiriting looking at somone in a fjord in norway then looking out the back of your own semi d at some lad burning rubbish or blaring music.
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€250
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Always struck me as pure pretentious on behalf of the seller. We want to sell our house but we’re not telling you the asking price unless you jump through a few hoops.
Same with cars, I’d just ignore these houses/cars out of some most likely misguided point of principle
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When you break it down like that we really have become a very material bunch… A marketer’s dream… Very importamt to marry a confident woman who doesn’t want to keep up with the Jones’s… Otherwise nothing will be enough…
There’s more of it. Unable to acknowledge the difference between affordable and unattainable without lifting off a big list of whataboutery. Bizarre.
It’s like some guys somehow can’t admit that the market was more in their favour than it is for the current generation. They have to believe that their success was down to their hard work and graft and that the people who now cannot succeed, through no fault of their own, mustn’t have tried or worked or saved as hard as them.
It’s clearly not true. Bizarre Walty Mitty-esque behaviour.
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This is all true but you wouldn’t have much of a life if you cut all that out.
My father bought his first house, a three bed semi in a good area for 2.5 times his wage. 2.5 times my wage wouldn’t buy a one bed apartment in all but the worst parts of dublin.
A few points or questions,
Was anti social behaviour and crime as prevalent 30 years ago? Its not realistic to live a peaceful life in some of the more ‘affordable’ areas.
People are under different pressures now, due to social media. Yes its bullshit and should be ignored but its not that easy and thats the reality.
If Ryanair were flying so cheap back in the day i guarantee many posters looking down there noses on this thread would have been using them.
Jobs for life that weren’t that demanding were easily got before, not anymore. There was no pressure on homes and jobs from immigration, emigration was the norm and that effect on the housing market at least.
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All true but buying a house always involved sacrifices. Lads seem to think it should be easy and require no cut back to lifestyle.
The biggest difference and a large part of house price growth has been the emergence of two income families as the norm.
Mortgage rates in the 1980s were spikey. Imagine what a 3 or 4 per cent rate rise did to a monthly budget.
1980 14.15%
1981 16.25%
1982 16.25%
1983 13.0%
1984 11.75%
1985 13%
1986 12.5%
1987 12.5%
1988 9.25%
1989 11.4%
1990 12.37%
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Wasn’t PAYE fairly vicious in the mid 80s as well
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Exactly. I’d bet the percentage of net pay eaten up by mortgages was savage back then.
I know my own father got what sounded to me like a tiny mortgage to build our house but he was still paying it off 25 years later.
My father in law and plenty of other people I know of that vintage built their houses over the course of 3 or 4 years, just doing bits whenever they had the money. Mortgages, even small ones were apparently very difficult to come by.
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25 years is not a very long mortgage and not by today’s standards.