Affordable Home Schemes

With the current housing crisis in the midst of the country, many plans have been developed to get the country out of its current slump. Some merely get laughed at, while others are well on their way to implementation within the housing market. It is likely that before long these effects will take a toll in the market and we will begin to see some upward movement in home buyer confidence.

The government has been quick to release multiple initiatives set out with the goal to turn the crisis around and allow the market to begin looking up. The Home Loan Scheme recently announced by the government is designed with the strategic plan to provide low-cost mortgages to first time home buyers.

With the first announcement of such a plan, many home buyers are thinking; is this too good to be true? As they have been waiting for an extended period of time for some light to be shed on the crisis that allows them to finally move into the homeowner sector.

The Rebuilding Ireland Home Loan …

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Second Quarter Predictions

With the Ireland housing crisis still well underway, there are little signs of recovery for a long while, making the current state of the housing market to become the new normal.

The Irish population has begun to accept what it is and proceeding with their life as with an “oh well” attitude. The new normal is here and taking over the Irish community.

With signs of the housing prices to possibly be slowing on their steep upward journey, consumers may begin to come back into the housing market as more active buyers than the market has seen in recent trends.

The second quarter of 2018 brought on some surprising numbers as the overall rates were finally evaluated and ready for assessment.

House prices rose nationally by 2.7pc with an average house price of 254,000 euro, or, 5.6 pc higher than the previous year.

These prices and statistics representing the nation as a whole. However, Dublin alone typically has a large impact on these reports.

In just Dublin, prices rose 1.8pc from March to June….an insignificant rise in just a four-month …

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What the Numbers Mean for those Looking to Buy

Ireland as a whole is eagerly waiting for each month to come, and new statistics to be published. Statistics in regards to the housing market and what can be expected by the next months’ forecasts.

It is with eager thoughts that positive reports mean future gains and future gains mean economic development and of course, citizens of Ireland to get into their homes.

A country with many living in a distressed state as they give up their dreams of home ownership or settle for someplace they simply don’t want, these reports sit a little heavy.

With every new reported couple/persons in the home buyer cluster there comes a story as to why they aren’t following their initial plans.

Maybe they can’t afford their dream home, the supply of homes isn’t available in their price range, or they gave up after years of looking to move into a one bedroom apartment, costing the same amount as a small home. The overlapping theme, unfulfilled.

Most individuals are hoping for the stats to tell them that the country is …

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The Housing Markets most Pressing Issue

Ireland’s “most pressing issue”…

The lack of housing.

Economist Philip O’Sullivan is reported as saying that tens of thousands more houses need to be completed annually to meet current demand. Why is it that there’s such a shortage of homes?

It is on schedule right now that 21,500 homes were built this year and 24,000 for next year. Though, a good number in the race to meet demand needs, it is nothing near the needed 30-50,000 homes being built to sufficiently meet the demand.

The society of chartered survey of Ireland has predicted that this housing crisis could continue for another 10 years. Paul O’donoghue, a writer for Fora sad that drastic measures need to be taken immediately to push for the development of homes.

With too little of homes available to meet demand, it is the law of supply and demand that says the price of the homes will increase as well. Equilibrium is expected to be reached by 2026.

This, falling in line with the prediction of the housing crisis to continue for nearly …

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RTE: Sean O’Rourke Show, hard to help the homeless 8th May 2018

We were asked to speak on the Sean O’Rourke show about one landlords experience and how the experience left them feeling very negative towards the local authority.

We would believe that in order to remedy our housing crisis, in particular the homelessness element of it, that state power must to work as positively as possible with all of those who are involved including landlords. Serving a notice of a €5,000 fine and threats of prison for minor infractions is not part of how that comes about.

Dublin City Council have turned the landlord in question diametrically against helping more people in homelessness in the future. If this pattern of behaviour is repeated again and again across the city it is no wonder that helping people out of homelessness has become such a slow process.

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Generation Rent? Try generation Broke

It bothers me when people promote long-term renting as a better choice than home ownership because it belies some basic facts.

When I was studying accounting, I was taught to be accurate. When I was learning about financial advice, I was taught to be prudent. Yet both of these concerns are often cast aside when debating the benefits of buying versus renting.

Nationally we are at an important juncture. It’s acknowledged that huge numbers of people won’t be able to afford to buy a home. If this proves to be true, many will also be locked out of one of life’s most wealth-creating activities.

The first problem is the nature of the comparison. If rent is €1,300 a month and a mortgage costs €1,500, then it’s cheaper to rent, right? Well . . . no it isn’t. The outlay is less, but the actual cost of the provision of occupancy is the rent versus the interest portion of the mortgage, not the entire payment. I will explain that point.

People often say rent is dead money. To be fair, so …

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Claire Byrne show, 23rd May 2016

This clip is a good insight into the many facets of the housing debate when looking at the ‘crisis’ end of the spectrum. It raised some interesting issues and commentary. One thing we want to state is that there was an implication that if a fund bought your mortgage that you might be able to get thrown out rapidly, we should state clearly that this simply isn’t the case and is likely a misinterpretation of fact than a stance which is there to deliberately mislead.

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Newstalk 106: Pat Kenny talks to Irish Mortgage Brokers

The Pat Kenny show on Newstalk 106FM had Karl Deeter of Irish Mortgage Brokers and Carol Tallon of BuyersBrokers on to discuss the property market in 2016 and to consider some of the things that were happening as well as why certain problems seem to persist.

It was an interesting segment and one that highlighted things such as problems of dereliction.

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Joan Burton made a housing issue worse

About four years ago many landlords were receiving letters which stated that rent supplement was going down, this was occurring irrespective of what point in your rental contract you were at. This was at the behest of Joan Burton, the issue of rent supplement was later divested because it was later to be taken over by DECLG.

The genesis of the current issues with much of this rest with Labour and Joan in particular, this isn’t pointed out in the press, but the people affected know it, which is why her name almost always appears on their placards (see image to the left for a recent example)

At the time tenants were getting a letter that stated ‘Rent limits were reduced on the 1/1/12. The new rent limits for a family of your size is now (whatever the price was). Can you ask your landlord to reduce your rent and fill in section 13 to reflect the reduction‘.

This was a unilateral move, and one that paid no attention to the …

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