How to make a housing crisis WORSE
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- Опубликовано: 22 авг 2024
- We explore how the Irish government is exacerbating the housing crisis with its various bans on different types of living.
L McMackin
K Lucid
V Malhotra
L Smith
C Beck
#ireland #housingcrisis #housing #coliving #politics
I hate the fact that government hates us building up. Good quality apartments would help alleviate some of the pressure. As a young person I prefer to rent in the city and enjoy this life before moving to a quieter area and buying a house. Unfortunately neither of these are possible at the moment
There are massive swathes of people like singles, couples, young and elderly people that want smaller housing in denser areas, and as time goes on families get smaller and smaller, but yet all this country likes to build are 3 and 4 bedroom estates in separated developments, and its so frustrating. It's also important to see this density in towns aswell, it's terrible how Dublin focused apartment development is
Why move to a quieter area? It's horrible.
I don't particularly have a problem with high~rise living, although it's not surprising that people in this country have an antipathy towards it because of the bad taste left by the schemes in Ballymun and (St. Michael's Estate) Inchicore, both now demolished. Besides, as you aver, even living above the third or fourth floor is unusual in Ireland. However 'many' (I'm just commenting on the fly, so please don't ask for sources!) studies, I believe, show that 'traditional' two~up, two~down terraced housing, such as one finds in Ringsend, Pimlico and Stoneybatter, and common in UK industrial cities like Belfast and Manchester (assuming provision of suitable communal green areas, and the 'usual' local facilities) represent the most efficient use of land, at least for families, as compared to high and medium rise complexes. EDIT: -- or detached and semi~detached housing - obviously(!) - of the kind so popular here.
Ah one of the classic Irish bores " we need high rise to be sophisticated and modern"
@@oisinoc We've made mistakes with high~rise, I said that in my own comment, but we can't really go on with the bungalow ribbon development and semi~D on a quarter~acre - fuelled suburban sprawl that we've got at the minute either, can we?! Especially with people not moving out of home til they're 30 and not marrying til they're 40 - people shouldn't still be having to live like it's 'The Riordans', Hell, people shouldn't have had to have been living like 'The Riordans' _then!_ (Well, in _your_ Ireland, maybe!)
People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.
Buy now, home prices will not go lower. If rates drop, you can refinance
The government will have no choice but to print more notes and lower interest rates
Well i think, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 4 years now, amassing nearly $1m in return on investments.
this is quite huge! what have you invested in ? much more info needed please ...I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
Finding financial advisors like Annette Marie Holt who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I’d love to move into a Danish Style Co-Housing situation with private kitchen/bathroom/living room along with shared communal spaces for meals, bike sharing, community garden, green energy etc etc. Solves housing, climate & loneliness crises all in one. Will the Irish public or politicians wake up to the idea? Probably not. Guess we’ll be dying alone in substandard living conditions then 🙄🤦♂️
I lived in Dublin 9, Phibsboro, worked in Eircom in Clontarf, used to pay 400e for a room in a house back in 2010, the price was going up steadily to around 1000e per month and the only way to get that room would be if someone is moving out as his replacement. I moved back to Slovakia, wages here are much lower, but so are the rents. I can afford more than I used to in Dublin.
Interesting. Appreciate that yu still think about us here in EIRE . Though if yu can buy any property at home I would just to have security . In some small towns in Croatia large amounts of appartments ar going up drivingv up prices and rents for old and new properties and most of the new are empty wages haven't followed. Is that likely to happen in slovakia
@@Mpg972 I still have friends in Ireland, some of whom are affected by the housing crisis. In East Europe in general the prices are very high for local incomes. But compared to Ireland it's a bargain, here you can get 3bedroom new built apartment in good location for 750e including utilities/internet/garbage disposal.
You should move to belfast, 500 a month rent and salaries up to 45,000
@@horatiotodd8723 Never been to Northern Ireland, I need to find out if I'd actually like it, I'll be in Dublin in january/february, so I can make a trip to Belfast and Derry for a few days
Those who pine for the days of the bedsit never lived in one. Their only experience might’ve been at a student party when they were langered. My memory of bedsits is a bit different, having lived in a few over the years. There’s not only the fact that your bed was basically the sofa and the dinner table; there was also the small matter of a toilet you feared to enter because the landlord hadn’t cleaned it since 1963 and a shower you could catch leprocy from.
It like having nostalgia for the hovels of the 1800s because sure didn’t the mould make people tough and you were poor but you were happy!
There are other better solutions to the property crisis. Falling back on bedsits is an admission that Ireland lacks the will or the interest in solving the crisis beyond quick fix gimmicks.
This video is very interesting, but has the advantage of the long term look, whereas the gov. seem constantly to have always a very short (4yr) plan. If the original bedsit was upgraded a little and had an ensuite? but I think, behind it all is the growing fear that the gov. either don't have a clue or don't really care or ...are working perfectly towards "a plan".... On the simplest of simple levels, "Builders" we need to build houses for us, have nowhere to live.
That sounds like more an issue with lazy landlords than with bedsits themselves
@@magesalmanac6424 It's not that simple. I have never seen a building containing bedsits that was managed correctly. Landlords, like most business people, want the most amount of profit for the least amount of investment. In, what is basically a unregulated market, if you can get away with renting spaces like this, this poorly managed, you'll do it weather you're lazy or not. So the ban, like a lot of things in Ireland, was also a scapegoat for the government, through local authorities, not having to invest in regulating the sector. The knock on affect of this would be the need for higher revenues which would require taxes which, GOD FORBID!!, Irish people couldn't possibly do because that might mean contributing to your community financially and someone somewhere might get a benefit you're not getting.
@@magesalmanac6424You are always going to have lazy landlords. So you beed this sort of regulation to limit the way they can prey on people.
Never understood the ban on co-living. Any time something is being built for young single people it's met with shrieks about it being completely unsuitable for raising a family in like every person needs a 3+ bedroom semi D with a garden and a trampoline. Why it's legal to squash 4 adults who don't know into a dilapidated 3 bedroom F rated corpo house but it's illegal to have a small private 1-bed with a shared kitchen is beyond me.
It’s all an excuse. Those with wealth and property want to protect it so they use whatever means to do so. People on here keep yapping about government freeze on building things but that’s just one tool that’s used by the landed upper class. They’d use something else if it wasn’t there.
That’s a really good point. How is house sharing not the same as co-living?
I moved to New Zealand last year...despite the housing shortage in Auckland life in terms of work life balance and pay is better
Moved to Europe myself 3yrs ago and never looked back. There's nothing in Ireland for young people, anyone who has the means should leave. Waxing poetic about nationalist identities as often happens, doesn't fix the broken systems that many in power will keep in place.
Same as myself. Moved to Finland 8 years ago. Just bought our second home. We make a regular wage, nothing fancy but housing is just more affordable and plentiful. Even in this economy we had a huge amount of choice.
Then there’s the lack of schooling costs, healthcare costs, cheap utilities, car insurance etc.
Irelands just not built for regular working people. Fine if you’re a yuppie who went to a posh school or you’re on the dole or a pension but if you want to work for a living and raise a family it’s rubbish.
I lived in NZ for over 20 years - I thought it was a bit of a dump. But there again I'm not from Ireland.
@@Whatshisname346do you mind if I ask if you learnt Finnish before you left Ireland?
@@OCMOOO God no! I'm here a while now and I still can't say I've learnt it. It's a tricky language so try to have a job or at least skills in an 'in demand' area if you're thinking of moving, otherwise language will be your biggest barrier.
I remember going to view a "studio" in 2018 and the bed was almost touching the stove/oven. And if you were too tall for bed you would have to open the oven door so your feet could hang off the bed. Also if you sat on the toilet you had to keep the bathroom door open as your knees went past the door jam. This was all for the exclusive price of €1020 per month. In north Dublin
None of this would matter if the government built housing. We cant recruit people for a tech sector or health service if people pay too much for housing. The government should treat housing as an economic unit same way they build roads and train lines. The lack of achievable aspiration in this video is clearly pragmatic but depressing
Social capital
Public housing is expensive and slow. We wouldn't have a housing crisis if we had a free market.
Landlords would have you voted out in an instant for even thinking it.
As a former house builder/developer (and student of the rental market) I can endorse this analysis in its entirety.
This is spot on, It's been on the north side of impossible to try find a place in this market and they aren't making anything easier for us, I'm one bad day from being homeless and there's absolutely shite all I can do about it
Stuck right out in the middle of nowhere with an hour commute into the closest town just so we can have an affordable place to stay, it's insane...
Bit somebody with REIT shares would say things are grand
@@toyotaprius79no comfort to us but depends on when yu bought them . Far better investments . Problem is cash holders being forced into assets out of cash and money printing and the fincialisation of everything
@@toyotaprius79I lived in a very dated old bedsit shared bathroom in London and was glad of the cheaper option . No-one should be banning having a roof over your head
Left Ireland last year. Couldn't have made a better decision. We moved to the Netherlands (which also has a housing crisis!) and finding a place here was like playing on easy mode compared to Ireland.
You can't ban your way to fixing a housing shortage.
@BogFiets Interesting. How do you find the tax situation? And cost of living overall?
@@rinnin Tax situation is a bit better (Ireland charging 52% marginal tax on a pretty low income stings), and if you move from Ireland you should be able to get the 30% ruling (which has been watered down, and is admittedly unfair).
Not needing a car helps a lot! All trains for my kids are completely free, too. A 5 bed house with a garden 20 minutes from Amsterdam Centraal is 2450 a month.
This is only a minor factor with the supply of rental accommodation.
The real issue is planned objections.
The planning system needs to be reformed one minor change to the planning process that would make a big difference would be to have a distance limit of the primary residence from the proposed development in my opinion 5km should be the limited. If so many developments held up wouldn't have been, included the Galway ring road. Many developments are waiting on others to get the green light before they submit for planning.
The planning process really is the main constraint in Ireland.
Also high rise developments should be allowed in certain locations.
@@diarmaidmoloney5611 the Galway ring road is an example of sprawling car centric design that shouldn’t be built
@@BogFiets People in West Galway need to drive, they also need to access the rest of the country. Why are we forcing them to drive straight through Galway, causing congestion a single road. Imagine the chaos of Dublin without the m50...
A ring road and public transportation are not mutually exclusive. Both improve the livability of the city center.
@@tomwalsh96 every time this argument comes up people build houses in the ring road and the government forgets what public transportation is
@@BogFiets Your argument holds no merit in reality. Imagine trying to run a bus service in Dublin when all traffic heading from the north to the south of the country has to go through the city centre.... You are forgetting that cities aren't standalone islands, other people who don't live in cities need to get places. Do you want someone from clifden to drive to one side of Galway city, take a bus through the city, then rent a car from the other side just to get to a family member in Clare?
Bedsit is another word for studio apt. They're OK.. Ban the dystopian house share model. It's totally inhumane to live in a box room with strangers
Has none of the video sank in!? Bans are terrible. If people are choosing house shares, it's because they want it, or because the alternatives are worse to them.
@@TheWolfXCIX house shares are not common in Europe and the rest of the world. Ireland has an aversion to building appt blocks, towers, complexs. House share forced not a choice
The answer to most issues in Ireland would be fixed with affordable housing and affordable services ... Not banning and blaming but building
Allowing for all types of accommodation provided the regulation and enforcement is there is fine, however there isn't enough enforcement on tenancies right now to justify immediately lifting it.
I lived in a co-living place abroad for a while, its fine for a year maybe 2, but in the long run other types of housing suits better. Students and young professionals needing a year in Dublin is one thing, housing supply for long-term tenants is another.
Ensuring actual apartments and social housing units are built, as well as cities and towns effectively planned to facilitate these developments is the real way to improve the housing crisis, and improving enforcement of regulations to allow for such low-cost short-term accommodation is needed too, but you can't put the cart before the horse or all you'll do is create low standard expensive units.
Grma for the videos lads! I emigrated a few years ago to a city where rent is also high but housing laws less regulated. Lived in a bedsit (decent size, ~15 sqm) in an old townhouse for a year, room would have orginally been a living room or large bedroom. The bathroom was outside the room and shared with the guy living in the room across from me. Most importantly for me at the time (24-25 yrs old), it was cheap-ish and smack-bang in the middle of the city. Overall, for that period of my life, I really enjoyed my time there. Completely unsuitable however for my current life circumstances.
Great video , I grew up in a bedsit with my ma and da in early 90s beside big tree pub on Dorset St, we had our own house we had our own bathroom, and it's was a stepping stone for us , it's funny how the people making the rules probably never lived in a bedsit
Ask yourself what sector of the Irish population owns most of the rental property. Then ask yourself where the various ministers get their advice and instructions from. Any connections?
And the relentless immigration policy our gov has further compounds the effects of the internal lack of housing issues we have by further increasing demand, therefore making landlords even richer. WTF is actually going on?
sigh People never stop banging on about immigration.
@@EuropeanQoheleth Mass Immigration is a major contributing factor.
Luckily, my spouse and I were able to pay off our mortgage early. We took the money we were spending to accelerate our mortgage repayment and invested it right away while we were both still working. We were able to retire early after accumulating what would have been our home payment for over 7 years and maxing out our 401K/403B plans. Thankfully, both of our parents taught in us the importance of living within our means.
Investing without proper guidance can lead to mistakes and losses. I know this since I've been there myself.Seeking guidance from a professional is preferable if you're new to investing or don't have much time.
Investors can have different investing results even with the best strategy and suitable assets. Understanding how experience plays a critical part in successful investing is key. Since I was aware of this, I consulted a market analyst for advice, which helped me build my account to about a million dollars. Having strategically cashed out just prior to the market correction, I'm now taking advantage of buying opportunities once more.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances
Leah Foster Alderman is the licensed expert I use. Just look up the name online.
She seems to be literate and well educated. Thank you for sharing, I found her webpage when I searched for her online.
We need more high rises. More density for the same amount of land is SENSIBLE. we have the ability, why the fuck aren't they talking about this or making needed changes. Crazy
No infrastructure for it, i.e. parking, roads, schools etc.
@@Antody Parking is the opposite of what you want. If anything parking should be removed.
Toyko managed to pull it off.
@@anonmouse15 Tokyo isn’t run by washed up old guys from the local GAA
@@BogFiets Ah true, my mistake.
I'm a working class man, born and bred in Dublin. Before the ban on bedsits we had flowery meadows and rainbow skies, and rivers made of chocolate, where the children danced, and laughed and played with gumdrop smiles.
I am sharing since 2017. It's not the best really. I hate this accommodation but this is what I have for now.
I would love to see you make a video analysing Ireland's gerymandered political system
gerrymandered political class.
We don't have a gerrymandered political system. Analysis done.
Just because you don't want to live in a type of housing doesn't mean it won't suit somebody else. Co-living got tossed in with the very unhelpful 'vulture fund' discourse and everybody got obsessed that the wrong apartments were being built by the wrong types of investors. When we're so far behind anybody building anything should be seen as a positive.
I suspect one of the reasons why these are unpopular is that people on the social housing list are afraid that the government will start providing them with this when applicable, instead of bigger houses like others before them have got so far.
Like you said, we are already renting in coliving spaces unofficially, but people are scared of purpose built ones.
The bedsit ban was well intended but resulted in thousands of people being made homeless.
It didn’t take into account affordability either, which has resulted in thousands living in hotel rooms, shelters or on the streets.
It should have only ever been for new conversions/builds.
This is a ban on slum accommodation, how can this be argued against. At least the government are trying to protect people.
A really interesting video! Seeing how terrible the Irish housing situation is makes living in London's market _slightly_ more palatable lmao, I'm moving into a co-living space tomorrow
Ireland 2 main parties seem to be landlord parties, but that is merely coincidental cause Ireland is a landlord Republic. Most political parties to my knowledge have implicitly or explicitly made political actions that benefit landlords. The fact that most council housing construction ground to an halt or to a slow crawl is very indicative of the politicians priorities.
Just back from a weekend in Munich. They built up. They live in apartments. We can learn a lot from them. Their property prices are twice ours on the same wages.
Supply supply supply.
By whom
@@toyotaprius79 landowners, property owners, and sitting room owners!
There's migrants in this country starting to outnumber the Irish people with their own demand. demand. demand.
the problem in Ireland is the standard of housing that's being rented can be very very poor. If that is being rented by a single house landlord then they are subject to income tax n their earnings from the rent. So said shoebox going for €1300 means that over €650 could be going to the government if the landlord has another job. Coupled with the rent pressure zones inhibiting rent increases why would a single person landlord put money into the upkeep of a property?
The only real solution is to build state housing to push out the landlords and lower housing prices.
The quality of the videos on this channel versus its viewing numbers is off the charts. Another great video, thanks.
Instead of lifting the ban on co-living could we not just have a functional planning authority stop allowing developers cram studios into unsuitable houses? I’d like to see some data on the occupancy rate of the current crop of co-living developments in Dublin , from my perspective they seem to sit idle and are a huge waste of resources, we’d be much better served if the developers were made build suitable 2 and 3 bed apartments that could suit both families and individuals sharing
So the Government don't build or improve the housing situation and instead of fixing it we just allow more sub standard accommodation onto the market? They won't offer enough competition to bring prices down and when bedsits are renting for €1200-€1500 it gives landlords the incentive to increase the price of one or two bed places rather than to introduce a cheaper option. The only solution is social housing that remains in Government ownership. Anyone on less than average wages should be able to get a council apartment/house and yes we do have the wealth to achieve it.
Social housing still costs money and takes time to build, and doesn't do anything for all the people who don't have below average wages. Every type of housing contributes to supply. Provided it's built to a safe standard, none of it should be outright banned.
Less banning and more buildings! How hard is that for ?
This video is a bit landlords pointing finger at government for housing crisis. When Landlord greed is the main factor, along with government complicity. Ultimately the ones in the background laughing all the while are the banks issuing the inflated mortgage loans.
Ireland is full. We cannot house the world..
Full of idiots
All those politicians have added to homelessness. Paying tax free rent for Ukrainians is creating homelessness among Irish citizens.
As always zero critical thinking!
Firstly love this channel.
Secondly I agree with a ban on studios as the logic is sound the standard of some of them were horrendous and it I believe is the correct decision
Co living on the other hand I agreed with however there was an arguement that they drive up the cost of property as they were more profitable and impacted the development of apartments. You failed to mention this in your assessment
Finally you barely touched on the main issue and that is the Insanely huge increase in the population. Recently the EU estimated it could have been as high as 3.5 percent in 2023 making it one if the highest ever population increases recorded anywhere. This is the main issue and not a ban on bed sits.
Although repeat I agree with co living and many forms of accommodation need to be provided for with the enhanced conditions on their construction provided.
Co-living was ok. It suits a lot of young people. It’s common across the West.
It was a political football. The opposition did as much damage to young people over this as the Government did.
Great video! 🫡
You've gone off the deep end with this one, I'm afraid. The solution is to build enough high standard accommodation for our growing needs, not to shove people into boxes or force them to live with strangers.
Excellent video! Fair play
The Government needs to stop means testing for Social Housing.
From watching your videos, you seem to think government is ineffective and lacks the right incentives. Yet, your solutions seem to rely on government intervention?
What are your thoughts on moving away from government intervention and creating a freer market so people can solve these problems in a decentralised way?
Essentially, watching your videos I agree with your synopsis of the problem but think your solutions are far to optimistic, the government is not incentivized to do what is best for the people.
Another good one
Bedsit in the past from cubbyhole room to room. 2:53 'people' should that not be single people?
Brilliant video as always!
Thanks!
Thanks a lot!
There's nothing intrinsically wrong with bedsits, for people at a certain time in their life. Obviously if you've got already small rooms further divided with barely a sheet of plasterboard between them, you're going to have problems. Housing OAP's with potentially rowdy students or young single people is not likely to end well. (Of course , sometimes you find it's the OAP's who are the drunken yobs!) Not having a second W.C. _seperate_ from the bath/shower~room is asking for trouble, as are prehistoric hot~water systems (and that's just for the shower, I never once lived in a place that had hot water in the bedsit itself. One place I lived in didn't even have 'modern' rectangular~pin electrical sockets! Another place had an electric meter that still ran on 50p. coins, _well_ into the noughties - provided by the landlord, when he could be a7sed!) And of course one hopes that your landlord isn't _two_ of the usual default landlord types that predominate in this sector - tightwad _and_ psychopath - rolled into one!
Seriously though, notwithstanding the above, and as long as the landlord isn't profiteering over and above the norm, bedsits, and (koff!) 'chalets' aren't a bad option (I use the term 'option' advisedly!) I mean, they _do_ address a need. For people who've moved out of home, but maybe are in the happy situation of being able to drop back for a decent meal and to get their washing done, the odd weekend, and where they can park some of their stuff, they can be ideal. They may, indeed, represent the means of them moving out of home in the first place!
Irish chattering classes: "What can be causing Irelands housing crisis and why it definitely isn't the tens of thousands of foreigners flooding into the country"
There's far more to it than that.
Maith thú, iontach mar 's an gnáth! 👍
I moved from Tampa to Santa Clara a few months ago and I’m thinking of purchasing a single family home there, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? Looks like NVDA, TSM and AMD and AVGO are strong buys this week.
it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.
@@gwenloius well you could put a downpayment on a home and as well diversify as much as you can into Ai, energy and big pharm. stocks like Pfizer and JnJ, ASML, MLM and S&P 500 ETFs. I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I making a whooping $738k in Q4 last year
@@deborahurchman-k7n I’m an art collector, this is not very new to me but has a nuance to it. Can you assist me?
@@maudlinflorence There are many advisors to choose from. But I work with Claire Robert’s Durand and we've been working together for years and she's fantastic. You could check her if she meets your requirements. Just research the name. You’d find necessary details to work with
@@deborahurchman-k7n I find this informative, curiously explored Claire on the web, spotted her consulting page, and was able to schedule a call session with her, she shows quite a great deal of expertise from her resume.. very much appreciated
I think this video makes a false assumption that without the ban more units would be built. Infact if the square footage requirements for co-living spaces were more extrenous than for apartments, the opposite would be true as there would be less beds delivered on any given site.
I also don't understand how only the minister could know the answer to the second two points, this kinda seems like a cop out.
We would need to avoid a scenario where we over deliver on this type of development. It is probably not a living situation most people would grow into long term, so is more akin to a plaster than a cure.
The government tells you not to live in a simple bedsit(bans)🙃 because you don't have any money for something better. But there is nothing better to live in than the streets🤦♀.What a world.🥲
People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.
Buy now, home prices will not go lower. If rates drop, you can refinance.
The government will have no choice but to print more notes and lower interest rates.
Well i think, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in return on investments.
This is quite huge! what have you invested in ? much more info needed please ...I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
Finding financial advisors like Iynne Marie Stella who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.