Home ownership ... why?


#21

The culture may well change now because there will be no other choice. Long term letting actually suits landlords better. It was always within our gift to sort this but we never did and it may well get worse before it gets better.

Ps The IMF recognised the medical and legal profession gravy trains but they remain untouchable … and are a huge part of the overall problem.


#22

What is this ‘obsessed with ownership’ comment? What kind of a clown says that? The people who are obsessed with ownership are the sociopathic rich, not people who want to own where they live.


#24

What, you don’t agree that the whole accommodation thing is so much better handled in the high-functioning Continental countries? So much fairer, higher standard, so much more secure, less wasteful, and many other measurements?


#25

Calm down. Irish people do have a bit of an obsession to own their own homes - it used to be a healthy one too.

[It’s been a good conversation so far - keep it respectable … or I’ll go down to your job and dump a portion of twisty fries over your head.]


#26

I work in Meath! Work away chief!!!


#27

No idea what that means…


#28

Yep. We rent from (what I gather are kinda) semi-state rental companies. They build complete apartment blocks (including attic and basement space for each apartment) and rent every apartment out. There are various queues with different companies to get a place. Once you get a place, you essentially have it for life if you want. Rent is controlled so it stays nice and low and the quality of the build is so good. My place was built in the 50s (complete with a bomb shelter in the basement) and it never gets cold, even when it’s snowing outside.


#29

That was meant as a criticism, not an excuse. We should develop for fair long term lets like they do on the continent. Where rents are a lot fairer and people often rent for decades.


#30

I see my home as an investment and something I can pass on to my kids. My mortgage is way less than what I would be paying if I was renting a similar house. The problem for anyone looking to buy now is the inflated prices been bandied around for houses/apartments.


#31

Long term leasing is required also, the 1 year contracts are too unsecure. 3, 5, 10 year agreements would suit a lot of people. For starter families, house ownership is a must for security of a roof over your head.


#32

How long term is infinity? Some would say “beyond”.


#33

What they said(above).


#34

What do people think about An Post potentially coming into the Irish mortgage market? A few foreign banks have tried over the years to get in but always get blocked. Seems with an announcement like An post’s this week, they must be fairly confident of getting in? Imagine if they did get in, could force pillar banks here to drop their rates to match average European rates and make it easier to get/keep Irish homes? Just mad timing when I thought rates were going to go up next year with QE finishing up, there could be a shake up in market here so rates could drop or go up!?

Could be really good timing for a lot of home owners in Dublin who have been struggling with repayments to switch down to lower rates?


#35

Do they know what a tracker mortgage is?


#36

What are the european rates?


#37

#38

Late last year the Danes were issuing 30 years fixed mortgages at 1.5%!


#39

Considering the exchequer bailed out the banks the fact interest rates are so high here is a disgrace. With QE ending you’d imagine interest rates will rise, unless as mentioned above competition drives them down.


#40

Feckin hell… i’ll Have a bit of that please!


#41

Isn’t the point of the EU, and the open market (freedom of services), that you or I should be able to purchase this product in the same way as the Danes can…