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EVERY WEEKDAY EVENING, The Journal brings you five of the biggest news stories of the day so far.
1. #SEXUAL ABUSE A number people who gave testimony to the scoping inquiry into sexual abuse in religious schools described how they felt they couldn’t tell anyone what was happening to them when they were children because of the power of the Catholic Church in Ireland at the time.
2. #RACISM International students in Cork have expressed concern for their safety after two people who travelled from India to study at UCC had ropes thrown around their necks in the city centre last Saturday.
3. #US SCHOOL SHOOTING The 14-year-old suspect in a shooting at a Georgia high school in which four people were killed appeared in court.
4. #HOUSING An Bord Pleanála granted planning permission for 708 cost rental and social homes at Cherry Orchard in Dublin 10, with construction set to begin by the end of next year.
5. #OASIS The Competition and Consumer Protection Commission is investigating Ticketmaster’s handling of the sale of Oasis tickets.
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As I always say, if it were food, clothing, petrol prices, concert tickets, electricity, bus fares, mobile phones, or God forbid the price of a pint (!!!) that was increasing at almost 20% a year people would be in fits and raging about rip-off Ireland (and probably having a good moan about the Government for good measure). Yet when it comes to housing we all think it’s 20% inflation is bloody great. Go figure. Will we ever learn?
because we have been lead to believe we can make money from property, its a good investment with good returns. we need to stop treating homes as investments and realise that putting a roof over your head is essential and good for society
The capital value of housing is rising but falling interest rates mean that money is less valuable. So in real terms house prices are not going up by 20%.
Did it occur to you that the fundamental difference is that a property is an asset, unlike a concert ticket or a mobile phone? This is why people feel better when their property goes up in value.
House prices should be included in the inflation figures. That would make life interesting.
The government should introduce legislation to make it illegal for newspapers and any form of media from reporting on any form of property for minimum 2 to 3 years, starting today.
It is reporting of such that instills into the mindset of the Irish people that they will not be able to get onto the property ladder. This, historically speaking causes a stir that people should rush to purchase a property (Remember…if you don’t buy now you wont get onto the property ladder). Indirectly this form of reporting helps in causing another increase in prices and further more another property bubble…
Another bubble in the making!
The quicker they rise the quicker I can sell my gaf and get out of debt, so keep on rising!
Plenty of suckers still out there so best of luck.
Just ban the term “property ladder”. The media using this term leads people to believe that it is something they should keep climbing until they reach the top. It is not a ladder, it is a home. A mortgage lasts 30 odd years so that is how long people should be planning on living in their home. Of course circumstances can change but for most people this should hold true.
Richard, and do what? Emigrate? Live in a tent? Or just buy something smaller. Just wondering.
Time for a new approach. Forget buying a house in Ireland. Put away what you can afford to every month and by the time you’re at retirement age you could get yourself a small, manageable property abroad.
Why not? The kids will have flown the nest, nobody else will give two hoots if you’ve wet yourself and fallen down the stairs three days ago and haven’t moved… unless you’ve a few quid to leave them behind and they can chuck you in a home to see out your days by yourself.
Be selfish, chuck on a sombrero and go sit in the sun for your twilight years. :)
or move to an estate / area where people care. even better go out and care yourself . I love the estate I live in . I’ve only been there 2.5 years and I know about a 1/4 of the people . both my neighbours, one of them even baby sits for us. I joined the residence association and help out when I can. you make life what it is. don’t be so negative. get out and meet your neighbours.
Not being negative at all. What’s wrong with choosing to see out your retirement years in a smashing little place in the sun versus paying over the odds for property in Ireland to try and claw a few quid back in a volatile market.
People spend their lives paying off a mortgage only to pour it all down the drain to cover the cost of care in their later years.
What’s the point? Reach retirement and hit the beach. Have some fun. You worked hard for it and deserve it.
Clown , you’d have no savings with the ever increasing rents …..
Rent control would help of course. Something has to give…
Ian, I made the mistake of buying property back home when I retired.I am probably losing over €100,000 if I sold it now. i got fed up being ripped off with high prices and the awful weather so I left again. I can recommend moving to Southern Europe where my pension goes much further, medical facilities are much better, looking out my window now at a lovely blue sky.No way am I ever going back.
and the rip off , gravy train continues on the backs of ordinary Irish people, who can no longer afford to live in the place.
In the love of God, this country does not generate enough money in ordinary peoples pockets for them to be able to afford ordinary things such as houses, families , children and food ! ..but yet we are all doing better
You got to wonder who are the ordinary people and who are the extra ordinary people.
Obviously anybody buying a house is extra ordinary as the ordinary people can’t be buying.
We have to make sure nobody can make a profit off property. This way we will have more property for ordinary people. There is obviously no problem with such logic because supply and demand tells us reduce the price and supply rushes into meet demand when less profits are about.
What is an ordinary person?
John..a voter…thats an ordinary person. He is special on voting day but ordinary the day after.
It’s great to see how beneficial to society it’s been to allow wild speculation in an unregulated free market for what is an essential item, housing. I can see now why the establishment are so set on introducing charges for water, an even more essential item, sure what could possibly go wrong? Today we have a homelessness crisis, maybe someday we can have folk dying of dehydration on the road side just like the good old days in the 40s, the 1840s that is.
Very good point egg
Very good point, Ireland is not a good place to live in my opinion. Its a cold conservative island stuck between the two bastions of capitalism, the US and UK. Why can’t Ireland have a decent health care system and become emulate the Scandinavian model. People pay enough taxes in Ireland to warrant such a system. Instead we get a smash and grab, wild West attitude to anything ethical.
Ireland is a great place to live, has it’s problems like all countries. I don’t think it’s a conservative country either. You want cold head to Scandinavia.
Mike, nobody likes to be told harsh realities. I lived in 6 countries in the last 5 years and would never move back to Ireland. It is depressing and indepressing,conformist and insular. Those are my observations.
Typo*
I disagree with you. Ive lived in 3 countries in the last 20 years. I moved to Ireland a few years back and love it.
6 countries in 5 years. I hope you found a country you’re happy in.
Luckily my job allows me to travel and experience different places. Happiness is a state of mind, and a certain country cannot provide that. Ireland is very limiting, I’ve developed tenfold as a person in the last 6 years than I have any in 27 living in Ireland. The country is run, or ‘administered’ by self serving charlatans and buffoons and that will never change.
Travel and experience the world is great for everyone. Ive done it myself when I was younger. I would highly recommend it to everyone, but it comes a point in your life when its time to settle down. I go on lots of holidays but Ireland is home to me now and I love it.
Fair enough mike, each to their own. Can’t stand the place myself, too many bad memories.
@shewster
If you feel you needed to leave the country to develop 10 fold the likely issue was you.
For your development you seemed to have missed the fact not living here for 5 years means you are no longer aware of the country enough to pass judgment.
Having developed so much you didn’t learn much about differences in tax and population. Seems to me you need to develop some more.
I’ve been over and back over the last few years quite regularly..well the begrudgery is certainly still inherent in Ireland. I presume you are saying that Ireland’s high taxes doesn’t warrant a decent public health system in proportion to the population? well you’d certainly wonder why firstly there is so many politicians on the gravy train creaming it. For our collective faux friendliness, number one all that matters. I’m alright jack wink and nod.
@shewster
Don’t worry you brought plenty or Irish post colonial hang ups with you to never feel like you left.
I lived around the world and everybody hates their government, thinks the politician are corrupt and complains about tax. I think you should revise your personal growth or you started with a very very low level.
some people must have plenty of money, new estate close to me in the north Dublin houses between 300 and 400K and all (or definitely most) sold out before they even finished building them yet…
There’s money out there aright. probably not all of it based in this country. I’d say a good few will be brought up as rentals or to flip in a few months. with property still on the increase there will be plenty of investors looking to swoop, and it’s not like the developers have a commitment to sell to local or Irish
Its all bollox anyway, how people fall for this hype I’ll never understand.
Its not bollix. The country is booming and rising asset prices are just a reflection of this.
Paul Mooney, just step over the Shannon and see how the country is “booming” as you say.
Ghost estates, shops in towns boarded up, the majority of the young people gone to find work elsewhere in the world.Might be hunky dory in Dublin but the Celtic Tiger never got its feet wet crossing the Shannon.
Shure prices are still way lower than in 2007. The only way is up. Better buy now before it’s too late. They aren’t making any new land.
Maybe with the Central bank rules coming in things will calm down.
Its all a load of nonsense really when you stand back and think about it all.
Get yourselves on that ladder. Everybody jump aboard the ladder. Don’t bother reading the safety limitations, every jump on this fckin ladder right now!!!
We jumped on the ladder in early 2007. The ladder broke and we are now left high and dry. Gaff worth half what we paid for it. My advise to FTB is save a big deposit and only borrow 80% of the value of the home you purchase.
When will this country realise that high house prices are a terrible thing. They lead to financial slavery for the population and add to the ‘cost of doing business’ thru wage demands.
Fianna fails mayhem are to blame for this housing market situation,all levys and taxes,to pay off bank debt,led to higher rents,only 15000 houses being built a yr last couple of yrs,when we need 30000,and mehole martin preparing himself to be next taoiseach,give me a sick bucket.
I cant see much chance of Martin being the next Taoiseach. FF will probably be the third largest party with 20-30 seats. So he wont be Taoiseach.
Surely levies and taxes would drive down net incomes and therefore reduce rents?
In the meantime house building is at an historic low http://www.bregsforum.com/2015/04/28/dail-commencement-figures-drop-post-march-2014/
Now is a good time to buy. And in a year, you can buy a second place in Kurdistan. Ryanair will be flying there. Plus ca change …
Bit of a Coincidence that this is news on the day Noonan announced the latest economic forecast.
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