Having just purchased a 3 bed semi on my own at 32 I feel very lucky.
fedupofbrick on
Having just had my house fall through after the vendor pulled out the day after we drew down our mortgage after being sale agreed since last year I want to murder someone
demonspawns_ghost on
I was wondering why there were so few in the 50+ groups but this is showing people with loans or mortgages.
hibernian_giant on
Absolutely in no way surprising. I consider myself and my wife **extremely lucky** to have been able to purchase a house together in our mid-thirties in 2022.
Ten years earlier being able to buy a house was a complete pipe-dream.
Of all my peers I went to university with who I am still in contact with, I only know three people who were able to buy a house in their 20’s. One worked for Google, and another for Microsoft, so very well-paid tech jobs.
Even now, I know people who have only been able to get property because they “bought” it from the family after a relative passed away, or who got given massive loans from their parents (like, “instead of a mortgage” level loans).
Back in 2011, when I was in my early twenties:
* My parents were just barely getting back on their feet after the banks took our family home due to the economic collapse. My dad’s job went bust, and my mum couldn’t pay the mortgage on her own. Took years of fighting, but by 2011 they had lost the house.
* I was living in a shitty apartment in Dublin, and paying out the nose for the privilege, and was still a couple of years away from getting a job that paid anything resembling a living wage.
* My then-girlfriend-now-wife was only just out of university, at an entry level job.
And I don’t think things have improved a huge amount since then. So yeah, this data does not surprise me in the least.
machomacho01 on
“owner occupied with loan or mortgage” is not really ownership. I want to see also the other numbers, owner without loan or mortgage and rented.
FunktopusBootsy on
We put rules in to make it harder to borrow for “prudence” sake, while allowing cash rich institutions and individuals to drive prices up. Big whoop, we condemned those people to rental traps in an environment where rents rose 300% over the period.
xoooph on
This graph annoys me a lot. Low is bad (for young people renting) and good (for old people who paid off the loan) at the same time.
SoloWingPixy88 on
Comparing it during a time no one could get a mortgage?
Try comparing it to early 2000s.
Elbon on
Good the dumb fuck boom years of 110% mortgages was not good idea.
ashfeawen on
You can see where the bottom rung of the ladder is as it gets pulled up
Beneficial_Bat_5992 on
Using raw numbers is probably not very helpful – surely there are a lot less people aged 25-29 and 30-34 years in the country now than there was 15 years ago
Serious-Landscape-74 on
The bank wouldn’t give me a 5k loan for a car in 2011, let alone a mortgage and I was 25, working full time, perm contract 4+ years with no debt.
2011 not a great year to compare. I would suggest those who had houses were struggling to keep them. Crazy time.
norodaisy on
Interesting thing to factor in – the number of people in each age group changes significantly between census years.
Who’s been running the country for the last 15 years I wonder …
Augustus_Chavismo on
Given that family life has been murdered for the sake of incredible profits. I wonder how Ireland’s upper class will sustain their labour going forward?
Surely there’s no research on this that people handwaved as nonsense
15 Comments
Having just purchased a 3 bed semi on my own at 32 I feel very lucky.
Having just had my house fall through after the vendor pulled out the day after we drew down our mortgage after being sale agreed since last year I want to murder someone
I was wondering why there were so few in the 50+ groups but this is showing people with loans or mortgages.
Absolutely in no way surprising. I consider myself and my wife **extremely lucky** to have been able to purchase a house together in our mid-thirties in 2022.
Ten years earlier being able to buy a house was a complete pipe-dream.
Of all my peers I went to university with who I am still in contact with, I only know three people who were able to buy a house in their 20’s. One worked for Google, and another for Microsoft, so very well-paid tech jobs.
Even now, I know people who have only been able to get property because they “bought” it from the family after a relative passed away, or who got given massive loans from their parents (like, “instead of a mortgage” level loans).
Back in 2011, when I was in my early twenties:
* My parents were just barely getting back on their feet after the banks took our family home due to the economic collapse. My dad’s job went bust, and my mum couldn’t pay the mortgage on her own. Took years of fighting, but by 2011 they had lost the house.
* I was living in a shitty apartment in Dublin, and paying out the nose for the privilege, and was still a couple of years away from getting a job that paid anything resembling a living wage.
* My then-girlfriend-now-wife was only just out of university, at an entry level job.
And I don’t think things have improved a huge amount since then. So yeah, this data does not surprise me in the least.
“owner occupied with loan or mortgage” is not really ownership. I want to see also the other numbers, owner without loan or mortgage and rented.
We put rules in to make it harder to borrow for “prudence” sake, while allowing cash rich institutions and individuals to drive prices up. Big whoop, we condemned those people to rental traps in an environment where rents rose 300% over the period.
This graph annoys me a lot. Low is bad (for young people renting) and good (for old people who paid off the loan) at the same time.
Comparing it during a time no one could get a mortgage?
Try comparing it to early 2000s.
Good the dumb fuck boom years of 110% mortgages was not good idea.
You can see where the bottom rung of the ladder is as it gets pulled up
Using raw numbers is probably not very helpful – surely there are a lot less people aged 25-29 and 30-34 years in the country now than there was 15 years ago
The bank wouldn’t give me a 5k loan for a car in 2011, let alone a mortgage and I was 25, working full time, perm contract 4+ years with no debt.
2011 not a great year to compare. I would suggest those who had houses were struggling to keep them. Crazy time.
Interesting thing to factor in – the number of people in each age group changes significantly between census years.
The population has a [big gap of 25-30 year olds](https://en.wikipedia.org/wiki/Demographics_of_the_Republic_of_Ireland#/media/File:Ireland_2023_population_pyramid.svg) for a number of reasons including the low birth rate of the mid-late 90’s.
Not shocked but also shocked.
Who’s been running the country for the last 15 years I wonder …
Given that family life has been murdered for the sake of incredible profits. I wonder how Ireland’s upper class will sustain their labour going forward?
Surely there’s no research on this that people handwaved as nonsense