US:"Home sweet rental"

nypost.com/p/news/business/h … 9X6GexmF0L
(Courtesy of SomeAssemblyRequired who has this comment accompanying the link:
“From 1890 to 2004 housing prices rose 0.4% a year. Houses are not a good investment. Owning does not beat renting. You need a 10 to 20% increase in price just to break even. I know you don’t believe me, neither does my wife.” ).

Significant, I think, because it is a move towards revulsion. Early stages yet. I expect it (home ownership revulsion) to be the next big thing in Ireland, short of some miracle or enormous scam, by early 2011…

I say in a couple of years time, if you mention the word property to an Irish person, they will break into a cold sweat, drop to the ground and curl up into a really really tight ball until they’ll end up kissing their own arse.

Cant see people aspiring to rent their dream home ever…

I can’t see myself aspiring to the property psychosis ever.

It’ll be interesting to see what effect the introduction of whatever property tax, water charges etc etc have on both the buying and rental markets over the next year or two.

From what I heard during my trip home over Christmas, home ownership remains the all important goal of the working family in Ireland. For sure, people are a lot more sensitive to the price they pay for property but renting is still viewed as a short-term solution. I think that this attitude is enocuraged by the large number of accidental landlords who would sell their rental properties at the first opportunity.

I lived in the US for a while. I always thought they had more of a rental culture than we did here. Saying that it is a large county and it is tough to generalise a whole country but I always had the americans down to being quite transient. Follow the jobs so renting is the way to go. This may have changed in the recent boom though

+1
I don’t know anyone (before this or even now) that views renting as a viable long term option.

I lived there for a bit also and I’d have the same general impression.

No wonder…look at the crap available for rent, an awful lot of it is completely unsuitable for a family. I sold my house in 2007 (mainly thanks to the Pin) and decided to rent until prices became more affordable.

But I have struggled to find a suitable house to rent in Cork. I eventually found something only because the owner couldn’t sell it and has decided to rent for a year and will try sell again at the end of the year so I don’t have any guarantee I will be here next year.

I get the impression (I might be wrong) that the quality and variety of houses to rent in the US is far greater rather than the Irish market which is typically apartments / townhouses / 3 bed semi - D’s. There is not a lot of 3/4 bed detached houses in available which have a decent standard of decoration. If there was then I would be happy to rent indefinitely.

I now find myself looking again to buy a house even after reading Morgan Kelly’s recent article in The Times and the one on the UCD website. Nuts!! Hopefully I will return to my senses and stop looking for another year or so.

As I am an asthmatic I asked my current landlord could I remove the carpets and replace with wooden flooring at my expense. He told me I couldn’t as they felt the carpets looked better and it would be better for them when they go to resell…for some strange reason he thinks he will get a better offer next year than he did just prior to renting it to me.

Nail on the head. I am renting but I see it as a stop gap measure, for a few years -happy enough to do so as the gap between my savings and the future cost price of suitable residence narrows. I rent because it make sense at the moment.
If I could buy a decent house for a decent price I’d have done so by now. I don’t rent for ‘labour mobility’ or especially as an anti-conformism stance -just because it make sense, nothing more nothing less.
Long term -once house price reach realistic levels, the old adage ‘rent is dead money’ will ring true again.
The quality of rentals is in general of a lower standard than an equivalent ‘normal’ owner occupied house.
Most of the exceptions are the forced landlords who can’t sell their own home.

And that deficiency of vision is EXACTLY what Government policy should be attempting to remedy.

As it currently stands,our National Phsychosis over Buying “Our Own” Home is merely on hold,with a resurgence expected as soon as things take-up again…some day somewhere deep in remote outer space somebody will open the Pin Time Capsule and Pisx themselves laughing at how the Irish became extinct…but at least they owned their own plot… :nin

This is the real problem with renting in Ireland. A lot of people have allergies, and rental properties are almost always unsuitable for people with allergies. In countries that work, such as Germany, you can rent places long term and furnish and decorate them as you please. In Ireland renters are stuck with dusty carpets, and dirty allergen-ridden soft furnishings.

BG.

I expect the next generation of landlords to cater to this long-term market - renting shells to people who have their own furniture and want to do their own decoration. Mind you, I’ve expected such a thing for a while!

While we wait for the Irish market to actively encourage long term rentals, sometimes we have to cut through the market.
We were pissed off as anyone with substandard rentals until the market turned in our favour. We actively advertised for a house that suited our needs. It took a few weeks, money towards ads but we got what we wanted. A spacious unfurnished house with paint free at a great rate. Provided we can maintain our saving habit we’ll be staying put here for quiet a while.
By advertising we cut out a lot of unrealistic LLs, but our current LL is very realistic and just wants no voids in the rent.
And we got to take up the carpet!

A few months ago i pulled into the drive way and looking at this lovely home I thought “wow, this place is great and if anything goes wrong with it, it’s someone elses problem”.

Happy fishing.

I personally am not a huge fan of renting. I do think it is dead money but buying can only be done when realistic pricing is done on housing. I like the idea of the monthly rent payment going towards an asset I will own when I retire and can live rent free. But at the moment until prices of home ownership drop seriously from even the current levels, renting is the only way to go

I know I am just stating the obvious but I am definetly in favour of home ownership just not at the madness that has happened over the last god knows how many years

Obvious troll is obvious

Not quite, just because I disagree with you I am a troll

Get over yourself

Get back on topic, the pair of yis.

You have a problem with a post, use the report function… Vigilante moderation is not encouraged.

Now back to US renting, speaking of which, this is in the wrong forum! :open_mouth:

See the first post - the relevance is whether this sort of attitude will arrive here - will it become the new paradigm, long after it does actually make sense for some to buy!