Housing Induced Stress on Students

Students all around the world have been struggling with universities taking advantage of their wallets for quite some time.

It is only recently, the students of DCU have spoken up for themselves in the hopes to be heard and make a difference for all future student planning to attend DCU.

Their argument, one that is on the minds of many…what is up with these price hikes?

Every year student residents have been noting dramatic increases in the cost of accommodations for the academic year.

With the most recent price hike bringing the total cost to 10,000 euro. That, being, nearly triple the cost of attendance!

One of the most prominent arguments to this petition is the stresses that are already felt by the students in their regular responsibilities within the classroom.

Some price jumps are reported to be up from 29% the regular prices. A hike that is difficult to cope with and may defer some students from choosing to attend and further their education at all.

In many cases, the costs are outweighing the …

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Start-up to Cause Shift in Housing Market

As I have previously written, the Irish housing market is currently experiencing a great crisis. With nearly no answers, the public is scrambling to find a way out, a way to the surface of all this financial distress.

This is where the Irish start-up Moove comes into play.

They’re entering the market with a goal to disrupt the market and give buyers and seller more choices and control during the sale of a home.

Yet to fully enter the Irish market, they are basing and forecasting the success of their business on the hybrid online model, currently based in the UK.

This model is currently offering sellers savings up to 7,200 euro!

Founder of Moove, David Madden started his career at the age of 17 as an estate agent at his parent’s business.

Having worked in the real estate business for many years, he has great potential in the start-up of such an inventive company.

Moove is designed to provide the same services one would find from a regular real estate agent, starting at a base cost of 1,800 euro.

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U.S Housing Market since ’08

It’s been ten years since the U.S. housing market crashed and caused many banks to close their doors and many people to lose their homes.

The question today is, has the market recovered? It depends on where you look….it is predicted that the market will have fully recovered by 2025, says Ralph McLaughlin, chief economist.

When predicting the recovery of the housing market, it is vital that you keep in mind the key factor of location.

Housing development varies greatly from state to state and it is places like California where we see a complete recovery in some areas and little to no recovery in others.

Such a large range between close by spaces is due to factors such as the city’s overall well-being. By this, I mean population growth and job outlook.

When a community is expanding and working within its own limits it is inevitable that different areas in the community will also look up, such as the housing market.

When developing the statistics in assessing the recovery of the housing market we compare current data to pre-recession …

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U.S Housing Giants Continue Losses

Fannie Mae and Freddie Mac are known to be “too big to fail”….at least that’s what the U.S had said up until the 2008 financial crisis.

In 1968 Fannie Mae and Freddie Mac had become a government-sponsored enterprise, a term insinuating that the government would always be there to bail them out if needed.

In 2008, the government was there to do just that.

With extreme lending of subprime mortgages, the economy quickly began to fail. Individuals were able to get mortgages they were unable to repay, something that would have been easily foreseeable, had the lenders set stricter requirements.

In this time, Fannie Mae and Freddie Mac had borrowed over $187 billion. And now, finally, they have repaid to the full amount and more…leaving the Trump administration to decide what to do next.

With reporting of a fourth-quarter net loss, it is obvious they have yet to recover to pre-crisis standards, and neither is it surprising that they are looking for taxpayer help with the new tax bill that has been passed by the trump administration.

This crisis begs …

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The Solution to the U.S Down Payment Dilemma

Those looking to buy a home in the States are all currently saying the same thing is holding them back….They can’t seem to afford the down payment.

Down payments on houses can be burdensome and oftentimes weigh on the ability to buy a home. In some cases, it calls for years of disciplined saving. Something that can be difficult for someone who wants a home and wants it now.

That’s where the start-up company Loftium comes in with a solution. This is a business started by 29-year-old Yifan Zhang of Seattle.

As someone who has personally heard her friends talk for years about the down payment dilemma, she finally decided to do something about it.

Zhang started as any other Airbnb business owner. Renting out one room in her townhouse to generate extra cash. Little did she know just how much cash she could actually generate.

Quickly into her business, she was earning enough to completely pay for her mortgage and then have some left over!

That’s when the idea dawned.

Zhang decided to eliminate …

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Mortgage lending gets tougher in Canada

The Canadian housing market has been growing rapidly in the past few years. Currently, many experts fear that home in cities like Toronto and Montreal are greatly overvalued, a reflection on the general instability in the Canadian economy. While Bank of Canada has yet to announce its well anticipated interest rate hike that will curb the rapidly rising house prices, lenders have already begun tightening lending rules and raising mortgage rates.

 

Early this month, major lenders Bank of Montreal, CIBC and Royal Bank of Canada have all raised rates on various types of fixed rate mortgages. Both Bank of Montreal and Royal Bank of Canada raised mortgage rates by 0.2% and rates at CIBC raised by 0.05%. The higher rates of lending is thought to precede Bank of Canada’s anticipated rate hike, which may come as soon as tomorrow.

 

Accompanying the higher mortgage rates is a series of other lending restrictions put in place by Canada’s banking regulator, The Office of the Superintendent of Financial Institutions …

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Dublin puts blame on Airbnb… again

The new protocol is whatever the issue is blame it on Airbnb.

Airbnb is being blamed for causing the housing crisis in Dublin. Critics are saying that the up and coming ‘hip’ way to travel site is causing apartments and houses that would be long-term let into short-time let. The site apparently contributing to Ireland’s housing shortage by taking housing off the market.

Policymakers and businesses has started a trend worldwide of blaming this short-term rental site for economic and societal problems with little evidence to back it up, claims Mark Paul from the Irish Times.

Ireland is not the only blaming Airbnb, New York has hotels (Airbnb’s competition) lobbying politicians left and right. Italy accused Airbnb of turning the country into a theme park.

Such problems are linked to issues in Venice from Airbnb, supposedly. With landlords making more money in a week from travelers compared to long-term lets in a month; therefore, the landlords are increasingly turning their properties into Airbnb listings. Venice being such a small city, there is not many places to rent in the first …

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Millennials are less likely to move more than other generations

The millennial generation in America have been moving less frequently than before. 11.2 percent of Americans moved homes from 2015 to 2016 which is the lowest since the start of the Census in 1948. Before 1985, more than 20 percent of Americans were moving in a year but the rate has been declining since then.

Richard Fry of Pew Research Center believes one of the factors for the lower moving rate for millennials is the difficulty of owning a home. After the housing bubble burst of 2008 the stricter lending regulations combined with high student debt can make it difficult to obtain a loan to buy a house. Buying a house is another reason people would want to move.

Richard Fry also thinks it’s because of the relative immobility of millennials. 25-35 year olds are moving slower than people of the same age for the past 50 years. This is surprising considering they have lower …

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Mortgage update on the UK: First-time buyers average deposit is rising

In the UK, the average price for their first-home has hit a record high at £207,693. As well as nearly half of all buyers of homes are first-time buyers. Within the first six months of 2017, the number of first-time buyers are at 162,704. This is only 15 percent below the peak of 2006.

On average £33,000 are needed for deposits for first-time buyers.

London we see even worse housing increases at an average deposit for first-time buyers at £106,577.

Northern Ireland is hitting the lowest spot at an average of £16,457 of deposits, Wales at £17,193, and Scotland £21,565.

Like our Help-to-Buy scheme in Ireland with tax rebates of up to 20,000 euro, the UK has a program similar. Their Help-to-Buy scheme with the low mortgage rates gave first-time buyers a push to buy. That could …

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