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Irish Housing Fuckup


JoeDavola
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leonardratso

man your standard shitty breeze block chinese apartment is in better nick.

Edited by leonardratso
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Castlevania

Who thought it would be a good idea to build houses in a damp and rainy country out of mica?

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spygirl
3 hours ago, JoeDavola said:

5,700 homes crumbling

https://www.bbc.co.uk/news/world-europe-57480185

How do they manage to fuck up so badly.

There was several blocks of flats built in Northern Ireland during the last boom that all fucking fell to bits in less than 15 years.

Some way as most HTB is either inflammable flats or shit built tiny homes - shit, money grasping builders.

 

Edited by spygirl
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Malthus
1 hour ago, Castlevania said:

Who thought it would be a good idea to build houses in a damp and rainy country out of mica?

But their mammys told them you can’t go wrong with property , safe as houses 

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Mica ... jesus what an utter crappy material choice considering the environmental exposure in that neck of the the woods

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spygirl

Irish housing shortage hits home for buyers and investors

Lack of supply and spiralling prices force by-election debate over property tax

https://www.ft.com/content/806ccbd8-ceee-454c-b5aa-8dc71bd5c80e



Today, caps on mortgage borrowing leave buyers with budgets “so low . . . it excludes a significant cohort of people from purchasing a home,” he said. As for builders, access to credit and Ireland’s high cost of construction relative to sale prices makes it hard for them to increase output to the 35,000 units a year the market needs. 

3.5 max.

Thats a good thing.

 

"The current situation is worlds away from the days of easy money in the mid-2000s that presaged the 2008 financial crisis, said Dermot O’Leary, chief economist at Goodbody, a stockbroker." 
 
No, it is not world's away at all. QE has flooded markets with easy money and low interest rates have pushed investors into property. Prices are up 90% from their lows in December 2012 and are not far off their Celtic Tiger peaks. These are the same Celtic Tiger peaks that were described as bubble prices. However, wages have not risen and individuals can only borrow 3.5 times their salary. Meaning? Some property whale(s) have created another bubble (eg the State itself supports 1/3 of all rentals in Ireland with some form of payment). I would argue the situation is exactly as it was before but the easy money has found its way onto the books of institutionals rather than individuals.
 
And if you want to know what the equivalent of Celtic Tiger ghost estates will look like after the next bust, look at to the student accommodation, aparthotels, Co-living and luxury apartments in Dublin City. 
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Interested
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5 HOURS AGO
 
reply In reply to Pierre Luigi Collina
Yes I remember similar articles in 2007 about scarcity and rocketing prices, 2009 came and you could buy whole housing estates from the liquidator, as they had built too many houses. 
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The Grammarian
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reply In reply to Pierre Luigi Collina
Right on comment! You have hit several nails of the unhealthy Irish property situation right on the head.
 
Why would anyone want to work/live in Dublin. Wages are low relative to the cost of living, taxes are sky high for people (unlike companies), and housing is expensive and of low quality. If you are Irish and have an EU passport plus easy access to the US you should up and leave. 
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jcd
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reply In reply to SPV_Schweiz
Sad, but speaking as an Irish emigre this is extremely accurate. The only point you missed, is that the poor souls still stuck there have had to suffer from a permanent lockdown since March 2020. 
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spygirl

I know of irish living in Belfast and training it into the South.

Yet theres a mental dumb Marxist org (SF) looking to dominate politics N + S, reunification ,when the Irish under 450 are fucking off elsewhere.

And the who tax thing change coming.

Irle4and population (official) has gone up from 3.5m to almost 5m in 20 years.

Fucking mental.

 

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Chewing Grass
2 minutes ago, spygirl said:

I know of irish living in Belfast and training it into the South.

Yet theres a mental dumb Marxist org (SF) looking to dominate politics N + S, reunification ,when the Irish under 450 are fucking off elsewhere.

And the who tax thing change coming.

Irle4and population (official) has gone up from 3.5m to almost 5m in 20 years.

Fucking mental.

 

Now I was gob-smacked when I just read that the population of Ireland before the Potato Famine was nearly 8.5 Million.

Ireland_population_change_1841_1851.png

https://brilliantmaps.com/potato-famine/

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spygirl
38 minutes ago, Chewing Grass said:

Now I was gob-smacked when I just read that the population of Ireland before the Potato Famine was nearly 8.5 Million.

Ireland_population_change_1841_1851.png

https://brilliantmaps.com/potato-famine/

https://en.wikipedia.org/wiki/Irish_population_analysis

Between 1700 and 1840, Ireland experienced rapid population growth, rising from less than three million in 1700 to over eight million by 1841.[3] In 1851, as the Great Famine was ending, the population of Ireland had dropped to 6.5 million people. The Famine and the resulting Irish diaspora had a dramatic effect on population; by 1891, Ireland's population had slipped under five million and by 1931, it had dropped to just over four million. It stayed around this level until the 1960s, when the population began to rise again. Predictions are for the population to continue to rise; in 2022, it is predicted to be just over seven million.[4]

In a poor, feudal, heavily religious soiety, living off an almost monocrop .... what outcome did you expect???

 

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christh
On 17/06/2021 at 16:03, Chewing Grass said:

Now I was gob-smacked when I just read that the population of Ireland before the Potato Famine was nearly 8.5 Million.

Ireland_population_change_1841_1851.png

https://brilliantmaps.com/potato-famine/

1 million died and 1 million left - 1/8 the population, staggering numbers indeed.

https://www.britannica.com/event/Great-Famine-Irish-history

Edited by christh
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