3 ms·

Unfortunately though you seem to be in the minority. There is ganging up on the "boomer" generation in Irepand for example because they buy up all the propertie

Unfortunately though you seem to be in the minority. There is ganging up on the "boomer" generation in Irepand for example because they buy up all the properties they can specifically to rent out for exorbitant prices. This is encouraged. So when there is legislation or regulations that would reduce the price inflation of properties they are the first to complain. They usually have more political influence too by way of being regular voters etc. And so instead of the mentality you share, they don't see owning properties other than a means of "semi passive" income.

disgruntledphd2 3y ago
Do you have a source for your assertions about the Irish property market? Like, as a landlord in Ireland you'll pay 52% tax on your rental income, and while you can claim tax relief on the interest, it doesn't make a lot of financial sense to borrow relatively expensive money for rentals. It made a lot more sense 10 years ago, but the data would seem to suggest that it's not a massive driver of sales right now. Like the Irish property market is insane right now, but I suspect that much more of the rental purchases are driven by small investment companies as that makes much, much more sense from a tax and overall expense purposes.
- bombcar 3y ago
  The rental market in the USA for sure is greatly distorted by the people who think there is “guaranteed easy money” to be made. They’re the type who say “mortgage $1500, rent $1600, it’s free real estate.” Sadly for them, eventually they learn why professional landlords want to see debt service be 50% or less of revenues. And it’s not because they get to pocket 50%. It’s been covered up because appreciation has been so high as to cover the bad accounting, but a few years of increased rates and near zero appreciation will put the hurt on them - and then watch out!
- bilekas 3y ago
  If you're a landlord you're most likely not borrowing large amounts on the properties you're renting out. Its more common that those properties were bought years before when prices were achievable. There are some good statistics here in the CSO (Central Statistic Office) for Ireland. https://www.cso.ie/en/releasesandpublications/ep/p-cp1hii/cp1hii/tr/ https://www.cso.ie/en/releasesandpublications/ep/p-cp1hii/cp... A bit further down you can find the age gaps between "Outright ownership" "Figure 3.5 Tenure status by age of householder, 2016" Particularly glaring. > I suspect that much more of the rental purchases are driven by small investment companies On this topic, yes for new builds, pretty much investment companies will come in and buy them up prior to being built. This has always been a thing, but is not helping the situation for normal people just looking to buy somewhere to live. Edit : Another infuriating thing they did was for the 2022 Census, the obfoscuated so much of the data, made a presentation in powerpoint and after easily 20 mins of searching : https://www.cso.ie/en/releasesandpublications/ep/p-cpp2/censusofpopulation2022profile2-housinginireland/publicationbriefing/ https://www.cso.ie/en/releasesandpublications/ep/p-cpp2/cens... They managed to take a master class is bad Chart/Informatics design. For the age variations, I swear they changes the green RGB but 1.

disgruntledphd2 3y ago

Do you have a source for your assertions about the Irish property market? Like, as a landlord in Ireland you'll pay 52% tax on your rental income, and while you can claim tax relief on the interest, it doesn't make a lot of financial sense to borrow relatively expensive money for rentals. It made a lot more sense 10 years ago, but the data would seem to suggest that it's not a massive driver of sales right now. Like the Irish property market is insane right now, but I suspect that much more of the rental purchases are driven by small investment companies as that makes much, much more sense from a tax and overall expense purposes.

bombcar 3y ago
The rental market in the USA for sure is greatly distorted by the people who think there is “guaranteed easy money” to be made. They’re the type who say “mortgage $1500, rent $1600, it’s free real estate.” Sadly for them, eventually they learn why professional landlords want to see debt service be 50% or less of revenues. And it’s not because they get to pocket 50%. It’s been covered up because appreciation has been so high as to cover the bad accounting, but a few years of increased rates and near zero appreciation will put the hurt on them - and then watch out!
bilekas 3y ago
If you're a landlord you're most likely not borrowing large amounts on the properties you're renting out. Its more common that those properties were bought years before when prices were achievable. There are some good statistics here in the CSO (Central Statistic Office) for Ireland. https://www.cso.ie/en/releasesandpublications/ep/p-cp1hii/cp1hii/tr/ https://www.cso.ie/en/releasesandpublications/ep/p-cp1hii/cp... A bit further down you can find the age gaps between "Outright ownership" "Figure 3.5 Tenure status by age of householder, 2016" Particularly glaring. > I suspect that much more of the rental purchases are driven by small investment companies On this topic, yes for new builds, pretty much investment companies will come in and buy them up prior to being built. This has always been a thing, but is not helping the situation for normal people just looking to buy somewhere to live. Edit : Another infuriating thing they did was for the 2022 Census, the obfoscuated so much of the data, made a presentation in powerpoint and after easily 20 mins of searching : https://www.cso.ie/en/releasesandpublications/ep/p-cpp2/censusofpopulation2022profile2-housinginireland/publicationbriefing/ https://www.cso.ie/en/releasesandpublications/ep/p-cpp2/cens... They managed to take a master class is bad Chart/Informatics design. For the age variations, I swear they changes the green RGB but 1.