This is gas… the journo is either very gullible or just a shill.
Any independent financial adviser will tell you that if you use a mortgage to buy a car, furniture, a holiday etc, you will be paying for these things for the duration of the mortgage - typically 20-30 years, and over the course of that loan will pay a huge amount of interest on the items it purchased. By pricing these items into the purchase price of the house, that is exactly what is happening – it is adding needlessly to the size of the mortgage required to buy these properties.
Instead of not being shy to ask for packages, as suggested by the author, potential buyers should not be shy to ask the vendor to keep their “free” Car, Childcare, Kitchen etc, and knock the equivalent amount off the price of the house. Then the buyer can fund these things appropriately – with short to medium term loans, or indeed buy them outright with the money saved on the house purchase – and pay no interest at all!
These offers are clearly not in the interest of the potential home buyer, and are a blatant attempt to prop up the price of new houses. The developers are no better off by doing these deals, and the buyers are much worse off. It’s a no-win situation. The only benefit to it is to keep prices artificially high. There are fewer and fewer naïve first time buyers out there willing to take these schemes at face value, but apparently the unnamed journalist who wrote this piece is one of them.
If you’ve followed Duplex over the years, I think he’s been saying this would come to pass at least 1, if not 2 years ago i.e we’d be following the US wholesale.
Roll on the discount auctions next of gone to the wall small time developers lots, that will be gut busting main evening news stuff… no one would be foolish enough to mop up the excess supply now just to keep prices stable… oh sorry yes then there are the gollywogs in the Dail, Vanilla Ice cream anyone?
Not to mention that all these apartments will look even more generic after being “kitted-out” by the same retailer. So much for “exclusivity” - just a bunch of upwardly looking middle class parasites who read the Argos catalogue for pleasure.
We’re not going to hear the sob stories. The benefit to the VI media of reporting these stories does not boost their property advertising revenues. As the saying goes: “a gambler never tells you about his losses”.