Brendan Burgess
Founder
- Messages
- 52,116
Great news for FTB, especially those buying in Dublin.
Now all we need is a supply so there are a few more houses to buy!!
Great news for FTB, especially those buying in Dublin.
These changes won't push up the supply. They might well push up the prices for the limited supply that is there.
Brendan
Not sure I agree that it's particularly good news for FTBs - they will simply have more firepower as a group to bid up prices - but it's certainly good news for banks and their brokers.
"The Government told us to do it after they were told to do it by EA's, Tom Parlon, American Vulture funds, Developers etc etc"Agreed Brendan.
It will be interesting to hear the Central Bank's justification for the changes.
Except now there'll be other 'young couples' with increased firepower also. Zero sum game except for the Vested Interests who'll make money off of the backs of said young coupleYoung couples are struggling to get the deposit for houses in Dublin. For a €350,000 house, they need €48,000 deposit and over €5,000 for stamp, solicitor etc. They can't save quick enough to get the money together. It's certainly making it a lot easier for them to make a start.
Steven
www.bluewaterfp.ie
Well that's just bloody great! Nothing again for 2nd time buyers who have gone through so much to survive and pay their mortgage, on time, never defaulting, but now stuck in a shoebox with expanding family with saving for a 20% deposit, which could be 60k on a €300k mortgage, a dream for most.....vs (in my head) an inexperienced first time buyer with no outgoings getting their deposit from the bank of Mam+Dad? How is this fair? 1st time buyers should need 20% with 2nd time buyers only needing 10%..... And yes I'm fuming!!!
I don't have actually any money from my parents and actually I have to support my mother financially every month....
2nd time buyers already are on the property ladder.
Rent is expensive in Dublin - FTB have outgoings
Queues of wantabe house owners will grow outside new developments again, history has a habit of repeating itself, sooner rather than later.
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