Key workers can't afford houses in main cities

For example Flash (and everybody else), here in my opinion is a perfect story of how the property bubble is affecting specific people and thus fits nicely in The People Vs The Irish Property Bubble…

I’ve a friend who works as a teacher in London, in the UK, preferential mortgages are available for key sector workers so they can afford to live in places like London, Twickenham in his case specifically. The way it works is that 25% of the house price is advanced in a seperate loan by the state and if they ever sell the house, they have to repay that initial sum… Which is a pretty sweet deal really, although if a similar idea was adopted here, given the concentration of public sector workers in the economy and in Dublin particularly (despite decentralisation, which never happened… Thank you Charlie) I’d feel that this would have a further disastrous effect on the local market. Unless it was very well targeted, considering the amount of landlords that are bleedin’ Gardai!!! :open_mouth:

rte.ie/news/2008/0708/economy.html

I’d bet you dollars to doughnuts the “other” city is Limerick. We’re just not that popular :frowning:

But we’ve got great personality. Honest we do. :laughing:

Correct me if I’m wrong but wasn’t the original purpose of the AH scheme to provide houses for these key public sector workers? Before it got turned into a bail-out for the builders that is.

“Key workers” is a term used in the UK where supposedly public sector workers are paid less than the private sector. In Ireland we have benchmarking which again supposedly ensures that the public sector are equal in pay to their private sector equivalents so there should be no need for subsidised housing for the public sector. How about letting the nonsense phrase “key workers” go the way of “affordability” as something which should be buried with the housing bubble.

its the fun-da-mentals that are strong

I had a rant about this last year (see link) :imp:

thepropertypin.com/viewtopic … 8588#38588

Just to note the Irish branch of Halifax simply copy the British parent and send the press release out in Autumn every year. They will probably talk about improved affordability this year.

The Garda recruitment thread on boards.ie is the 5th most popular thread with 510,000 views.

They’re inundated with applications: if it was a private company, they’d be dropping the salary/benefits package accordingly.