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Ban Airbnb. Ban the purchasing of existing homes for short term let and holiday homes. Ban all non nationals from purchasing property until they become irish citizens. Ban vulture funds from purchasing any property. Allow bedsits again. And build some housing.
So where are the garages they go with these 5 bedroom house? He's houses are too close together. No front porch, no grass in the front, no grass in the back.
"It’s speculation in the property market that is fueling stratospheric house price rises, not shortage of supply. When the “fuel” of private capital, mortgage credit and cash from the bank of mum and dad is supplemented by government subsidies and tax breaks, house prices rise. Moreover, wealthy global and non-resident buyers have funnelled more than £100bn into London property over recent years, making the problem even worse. So, rather counterintuitively, building more houses is not the right prescription. House prices won’t fall until the tide of cash flowing into the market abates, for example by tightening mortgage credit, or shrinking the pool of buy-to-let investors. That may already be starting to happen as real incomes continue to fall, the Bank of England toughens up buy-to-let mortgages, and stamp duty rises are phased in for second properties. Despite this, the government pretends the real cause of unaffordable housing is a shortage of new builds. It uses this argument to provide cover for further taxpayer-funded subsidies and tax breaks that benefit its property-owning core voters, its close allies in the construction industry and property market, and its supporters in the City of London. But the evidence is clear: increases in housing supply, and a contraction of demand thanks to a fall in the number of households, have not dampened prices. At last count, in 2014, there were 28 million dwellings in the UK, but only a predicted 27.7 million households in 2016. As the director of consulting at Oxford Economics, Ian Mulheirn, highlights, London’s number of dwellings grew faster than the number of households between 2001 and 2015. Similarly, in Ireland more than 90,000 homes were built in a country of just 4 million people in 2006, and yet prices continued rising - by a whopping 11% that year." - Ann Pettifor, economist (who predicted the 2008 crash years before it happened) Dvelopers, speculators, construction companies (probably real estate agents too) and their friends in government love the simplistic lie that it's 'all about supply and demand'.
if the supply levels arent there then how are these adult children that you mention have grown up gone? if the supply is not there for them, then how do you expect the parents to downsize?
Keeping house prices high is government policy. A number of things can pop this bubble. If a few large multinationals here were to pull out, the government would probably react by bringing back the 110% mortgage in order to counter the downward impact on house prices. But a serious recession could overwhelm the government`s ability to rig the market. We the citizen do have some power to trigger price discovery in house prices. One thing people could do is boycott landlords that have evicted a tenant. This would mean all of their other tenants would stop paying rent and if a new tenant moves in after someone is evicted, they too refuse to pay rent. Add to that, a boycott of the bailiffs who try to enforce evictions, by shunning them and refusing them business services at shops, restaurants etc and refusing to work for them. The goal being to force these REITs to sell to private individuals or to an institution that is prepared to accept the sort of rent they would get in an unrigged housing market, i.e. 90% below what they presently are. By forcing the REITs to sell, housing supply for sale will increase so house prices will fall and once they begin to fall, negative equity will trigger more defaults and then we will be into a price discovery scenario. A 90% fall in house prices, that is the end game with or without such a boycott. If the stock markets crash, if inflation makes it hard to lower interest rates, if geopolitical factors hit the multinationals, house prices will begin to fall in a way the government cannot control.
Housing is priced at the margins, so basically 15,000 homes for sale dictates the price for the 1.9 million total housing stock, supply is low, but demand is also low, the economy is slowing now, unemployment will rise, and supply will increase and demand at best will remain constant. What you discribed with hotel rooms on a concert night, is supply and demand, its also known as price gouging, price gouging might last for a while but eventually becomes unsustainable
It's not a bathroom on the ground floor, it's a guest toilet. When showing a house you need to slow down. I felt sick just watching the camera spinning round.
Living near a hospital offers quick access to healthcare in emergencies, saves time on appointments, boosts property value, and often means better transportation links. It's all about convenience and peace of mind.
Finally, a clear explanation of BER and its impact on home sales! Veresia's insights are invaluable for anyone navigating the property market. Thanks for breaking it down!
Great advice on spotting 'secret leaks' early to prevent water damage! Proactive maintenance can save a lot of trouble down the line. Thanks for sharing, Veresia!
