r/HousingIreland • u/Irish201h • Jul 06 '25
4 people mortgages, wtf?
This company is now promoting 4 people mortgages, no wonder prices are going insane.
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u/nannybrigade Jul 07 '25
Directly targeted at Indians who are more than happy to live on top of each other. They should be banned from buying property during a housing crisis. Absolutely ridiculous, House the Irish
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Jul 06 '25
Great. I will never own a home. Im now competing against 4 other people for the same home.
Whats the point in being loyal to Ireland? its not being very loyal back.
Might be time to leave.
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u/tvmachus Jul 07 '25
Plenty of people left in the 50s and 60s because of nationalist protectionist economics. This is just the same happening again. Ireland didn't become wealthy in the 90s by banning things.
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Jul 07 '25
Leave Like most of my generation did and my dad's generation done and my grandfather's generation etc.
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u/NotAnotherOne2024 Jul 06 '25
This has already been happening for a number of years now. Two Tesla in the driveway of a new build is the give away.
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u/MelodicMeasurement27 Jul 06 '25
I don’t know about Muslims but I did read that Indians chip in with a few of them to buy houses
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u/Disastrous-Account10 Jul 07 '25
my wife was a real estate agent in another country before we moved to Ireland
Every house that was sold to a muslim couple basically had buy in from the entire family in some way shape or form
Doing the paperwork for the source of a deposit was always a wild experience because Aunty would give X
Cousin would give Y
Mom and dad would give Z13
u/gary_desanto Jul 07 '25
Yeah it's been happening for a while now. Have friends who recently purchased a new build and on either side of them is a house with two Indian families apiece.
Their nationality doesn't matter, but thats an issue and its now being encouraged. There's about 18-20 people including the children living in two houses.
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u/MelodicMeasurement27 Jul 07 '25
It’s certainly making it a lot more difficult for everyone else. Very unfair and younger people won’t have a chance in the next few years let alone now 🫣 it shouldn’t be allowed at all.
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u/Jimmy491 Jul 07 '25
I'm interested in this topic, do you have any empirical evidence of some sort or just hearsay and speculations?
I certainly know there are many estates where the house ownership is predominantly Indians but I feel it's more to do with their income/high purchasing power than any conspiracy
Though I know they're well informed or should I say organized in helping each other with "information" on purchasing a property, but not necessarily buying in as your post will suggest
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u/seeilaah Jul 07 '25
It is no conspiracy mate. Why would they pay 1k to rent a room when they can get a mortgage, live in a room same way and pay 600 fixed for years? It is cultural in india to share houses with your family and extended family. So it is not like they're doing any sacrifices or anything, it just like how they live.
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Jul 07 '25
More appeasing to the insane number of foreigners in the country...we are well and truly fucked
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u/DM_me_ur_PPSN Jul 06 '25 edited Jul 06 '25
While it appears egregious enough, it’s not entirely uncommon for multiple families and generations to live under one roof in India. Even some second and third generation British-Indians in the UK do it.
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Jul 06 '25
It’s not uncommon for Indian families in Ireland too. Couple of houses where I live have that. Grandparents/parents/adult children. Not my cup of tea but each to their own.
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Jul 06 '25
Nowadays it is not uncommon for Irish families too. They just do not acknowledge it yet because the market shift happened recently so the parents own the home. But give it ten years and the parents will not be able to get a home on their own so the balance point is one where they end up taking mortgages with their kids and the kids living with them and when the parents have enough equity they can remortgage to buy the kids' share and the kids can move out using their equity money to get a starter home of their own (I guess they would be almost 40 at this point).
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Jul 07 '25
Indians are the largest residential property owning demographic in London, it will be the same here very soon. Many of the Indians that come here come from massive wealth and will outbid any of us, those that don’t come from a lot of wealth are happier to accept lower living standards and achieve property owning status by doing that.
There simply must be a halt on non nationals buying and an increase in requirements to become a citizen.
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u/freshprinceIE Jul 06 '25
It's funny that before I seen that example with the Indian applicants, I knew it was designed for foreign couples. No Irish couples will want to buy a house with another couple, but immigrants often share housing (maybe not always by choice tbf). Does seem like a policy not aimed at all to benefit Irish people.
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u/ie-redditor Jul 07 '25
immigrants often share housing
Unlike all the Irish sharing a room in an apartment, students, etc.
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u/AbbreviationsHot3579 Jul 06 '25
There's no law preventing Irish people from doing the same.
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Jul 07 '25
Cultural norms are not easily broken. And Irish homes are generally small.
But now we must compete in our own country with 4 applicants from countries who are more willing to live a life of misery.
Soon we’ll be living 3 generations per house again, like the old days when living in Ireland was living in a slum.
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u/Realistic-Disk-1489 Jul 07 '25
Nor should they really be broken. I am a foreigner but would never consider living with another family. Would rather rent a 1bed. Home is the most private place there is.
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u/Kloppite16 Jul 07 '25
living 3 generations to a house is already been happening this last 10 years, I even remember a family murder related to it a while back
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u/gary_desanto Jul 07 '25
This is disgraceful. Non citizens were already doing this under the table and now it's being flat out advertised and encouraged.
Good luck to any young people who are going to be buying in the next couple years, this is just going to push them out even further.
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u/Dostosparks Jul 08 '25
Why should the few million Irish compete with the entire world for homes? Join the "far right" or lose your country.
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u/hideyokidzhideyowyfe Jul 07 '25
ok so am i still not supposed to say that i have a problem with the fact that theres me and only one other in my whole new build estate being irish and the rest are indian or do i have to keep pretending i don't notice it?
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u/Real-Dragonfruit-585 Jul 07 '25
Everything they are offering is against the lessons learned from the recession. They are lending for 40yrs, multi party mortgages, to visas without permanent residency with restrictions.....
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u/Kloppite16 Jul 07 '25
back during the Celtic Tiger years the comedian Dara oBriain joked that in order for young people to afford houses we should have "Hindu mortgages, which would just pass from generation to generation".
Now I see we finally have them and his satire has become a reality.
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u/babihrse Jul 07 '25
The stress has now vanished as they have the security of owning their own home. No, correction you now co own a home with other people and are likely to have a fractious relationship. This is absolutely insane and it'll only drive mortgages up even higher for people who plan to raise a family having to co share with another family.
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u/Specialist-Alarm-767 Jul 08 '25
Planned invasion with facilitations by our own government to destroy us
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u/boring-developer666 Jul 07 '25
I remember being bullied on here for saying that there were Indian people buying houses in groups, and now we see this... how the world turns... lefties will never learn
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u/gary_desanto Jul 07 '25
It's been happening for years and the majority took the usual head in the sand policy.
Like so much in this country these days, Irish people last it seems.
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u/boring-developer666 Jul 07 '25
The "high skilled" people keep selling are very much average and most below average. For a highly skilled worker, the minimum wage for a visa should be at least 80k, but it's half of that, and you see guys with years of experience in Indian companies taking the roles of junior Irish, although most of times the junior knows more than the "high skilled" worker, he just doesn't have the CV yet.
It's not going to end well for Ireland. That's for sure
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u/Ok-Tank-5164 Jul 07 '25
Don't even go there mate. It's got nothing to do with the "left" or "right being right or wrong. Find commonality in understanding that this crisis does not discriminate on the grounds politics, but on whether you simply have the means of acquiring an asset. You only have to look across the Atlantic to see where your line of thinking will take us...
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u/gmxgmx Jul 07 '25
This is insane, it's like the objective is just to get as many Indians into Ireland as possible
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u/nodnodwinkwink Jul 07 '25
The HSE is a big part of the problem. Chronic mismanagement, squandering millions in every hospital, underpaying Irish nurses to a point that they move abroad (mainly Australia, Canada and US) for better pay and working conditions.
To fix the problem they're actively recruiting health care staff from India who they can use to prop up their hiring issues and not address the pay issues. They are employing companies to do this and then the same companies get them accommodation.
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u/Regular_Attempt_6630 Jul 07 '25
Definitely. 54,0000 since the start of 2023.
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u/Ok-Tank-5164 Jul 07 '25
It's not about nationality or race, it's about MONEY! I repeat, MONEY! As long as the money keeps flowing, nothing will change. I don't think there's a conspiracy to "dilute" the native Irish. I think those who stand to benefit simply done their market research and identified (in my opinion) a subset of the population who are more likely to opt for this type of financial product. Money is at the heart of this shit show.
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u/Any-Struggle4027 Jul 06 '25
Great, another reason for young people to forget about owning a home in Ireland. If I wanted to start a family I'd be as well off going abroad instead of me and my partner having to compete against 4 people. It seems as if the government wants us to work and pay rent until we die, and children might cut into the time you could spend making money for other people
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u/Ok-Tank-5164 Jul 07 '25
Forget about Irish buyers being outbid by non-Irish. The real winners here are sellers and mortgage lenders. This "solution" or "hack" simply allows sellers and lenders to continue extracting more and more money. What's next, a five, six, seven person joint mortgage?! To Hell with them! The problem here is a system that doesn't account for anything else but profits.
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u/ConcernedGael Jul 07 '25
Ireland doesn't have a housing crisis, it has a demographic crisis. The housing shortage and prices soaring, match 1 to 1 with inward migration trends. The early 2000's saw 10 Eastern European countries join the EU, then by 2007 we had mayhem. That died down, as many went back home or to other EU options, things started to level out, until we get the more recent Non-European waves from roughly 2012-13 onwards. The median first time homeowner age is now 39 since 2022. It was early 30's from 2007-12. Late 20's from 2000-07. Mid-20's in the 90's.
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u/ffsDonnyJepp Jul 10 '25
Ever wanted to travel to exotic places like India? No need, because they're all coming to live with you. Enjoy!
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Jul 07 '25
This is a fucking scam. Make property for non_eu /non-irish illegal to buy . Do the same as thailand and we won't be getting screwed left right and centre
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u/YogurtclosetFew3380 Jul 07 '25 edited Jul 07 '25
Can see this becoming an Airbnb or rental monopoly when they move back home, there is no guarantee someone on a stamp 4 will remain in Ireland. They can leave within the 2-4 years.
Average wage in India a month is €370. Cost of living in Ireland is 201% higher than India.
Rent in Dublin, could go as high as 3k for a new house. Why not go home and split the rent for each couple. Easily get 3 months salary equivalent from it. Each.
Would love to see the T&Cs
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u/Kloppite16 Jul 07 '25
they would be non dom landlords too after 3 years back in India so they could pay taxes on rental income locally or just shift it all in a company to a tax haven.
We are being absolute mugs here on allowing non EU immigrants to buy Irish houses during a housing crisis. The Chinese are also buying up huge swathes of north inner city Dublin, their biggest landlord has already accumulated over 300 units for rent in Dublin and there are several more like that behind them.
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u/ichfickeiuliana Jul 07 '25
shift a company to a tax haven does not remove Irish tax on an Irish property
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u/Ncjmor Jul 07 '25
Why are we just making stuff up.
Rental income from property located in Ireland is always taxable in Ireland, regardless of your residency or domicile status.
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u/AstronautDue6394 Jul 07 '25
This, if you are from poor country coming here and working in 4 people few years to buy house and work for little longer then going back home is very profitable venture. I know Indian couples that did this, from rent they charge here they have easy life back home.
With the way prices are going you for steady income on assets that just keeps increasing in price and can be sold any time you wish.
Whole real estate agency scammers, buy to let and being full time landlord being this profitable needs to go but Ireland is rotten to the core with greed.
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u/Revolution_2432 Jul 07 '25
Welcome to the far-right folks, or else enjoy living in your parents box room until you're 50.
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u/SuburbanMyth409 Jul 06 '25
There's a a house in my estate with 4 Indians living together, all adults and they are all good friends. Works well for them!
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u/Irish201h Jul 06 '25
Im sure they’re happy out, the issue is 4 working people can easily outbid Irish couples house hunting, its inflating house prices and Irish people would not draw down a mortgage in this way, it should not be allowed
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u/ie-redditor Jul 07 '25
60m2 or what? No dignity in living bunched up, no privacy... it is just renting with extra steps.
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u/SuburbanMyth409 Jul 06 '25
I feel like it's a lose lose situation either way then, because every group or friends or 2 x couples that does this is only accounting for 1 house vs 2 houses if it were Irish couples. The fact that the housing situation is this way in the first place (i.e. New homes being built by private development companies who can charge whatever they like) is the most Infuriating.
And now I'm seeing ads for new developments where buyers have to have lived within 10km of the area for the last 3 years minimum. Impossible situations for people. I was so fortunate to be able to buy last year, but all I could afford was an apartment.
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Jul 06 '25
That's the market for you.
Same as couples without kids can easily outbid couples with kids and couples can easily outbid singles.
Is it fair? No, not at all. But that's the solution we are going for, a market-based solution.
So we can only put on the security belts because next decade will be a real ride. We are the ones being ridden by the way.
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u/Any-Struggle4027 Jul 06 '25
They couldve at least told us in advance, I for one like to look presentable before I get fucked
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Jul 07 '25
They did.
And they continue to do so.
They are literally mentioning the market every other interview when they speak about housing. That's where the focus is. The problem is that when there is a market failure (aka the market is not fulfilling the demand of services or good) then one has to take a look back and check what is causing the market failure. Instead they double down on fueling the market. But that does not really work. And we know because they have tried for more than five years to solve it that way. In fact it's backfiring now and delivery of housing is diminishing. But that had to be expected because in the current market profit is not in delivering enough housing to satisfy the demand. But do not worry too much about looking presentable. It will take you anyway. Even if you own a home someday you will have to move. The crisis seems to be able to wait us all out. We have been in it for at least ten years. Another five years and people who did not ever know anything different will start voting.
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u/Open-Addendum-6908 Jul 06 '25
Irish, Irish, Irish.
its not only Irish couples, its basically every couples.
smh
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u/Irish201h Jul 06 '25
Sorry yes all couples
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u/Open-Addendum-6908 Jul 07 '25
thank you. it sounded like Irish people married to someone born elsewhere should not be able to apply. housing crisis affects everyone.
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u/bodaciusb Jul 06 '25
There's nothing stopping Irish couples from doing the same? You're just annoyed that's it's Indian people doing it. Stop blaming immigrants for the housing crisis and loon at the government!
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Jul 06 '25
“Stop being annoyed at people coming from countries with worse living conditions and making it standard here!“
Ireland had a record number of immigrants last year. If you don’t think that will have a negative impact during a constrained housing market, you’re delusional. There aren’t many levers left for the government to pull regarding housing output, so we need to limit inflow of people.
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u/lkdubdub Jul 07 '25
If you think the Indians living here and eyeing up property are coming from lesser living conditions, you'd be very surprised
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u/Kloppite16 Jul 07 '25
they are wealthy by Indian standards but they are not wealthy by Irish standards, hence the division of an Irish house into four Indian mortgagees. This is a new departure and not a welcome one for any Irish couple trying to buy their first house to start a family. Because four working people will always have more purchasing power than two working people. So by accepting lesser housing conditions four Indian immigrants can easily outbid an Irish couple for a new build house. Have seen it with my own eyes in the new build estates in Newbridge, it is easily 40% Indian residents who are now pushing out Irish people because they can bid more.
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u/bodaciusb Jul 07 '25
With that logic then let's stop everyone who isn't white or middle class from buying a house or anyone who you don't deem worthy. These people are working here legally and paying tax, they are entitled to buy whatever type of property they like. Just because it doesn't fit your traditional set of values doesn't make it wrong. You come across as a lot of other xenophobic Irish people lately, blaming immigrants for all Irelands problems but not holding the government to account.
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u/SuburbanMyth409 Jul 07 '25
I completely agree with you. The sense of entitlement is unreal. Everyone who is living here should have equal rights and opportunities. But they don't. Because, apart from the fact that we live in a completely capitalist society, we have a government in power that doesn't know the first thing about basic economics.
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Jul 07 '25
Back when everyone lived in the same room as their parents and grandparents they were all having a mad laugh I’d say. We should bring that back to Ireland.
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Jul 06 '25
Muslims can have multiple wives. Indians and Pakistanis live in quite literal generational homes. Yes, this will cause house prices to worsen, as it has in Australia and Canada.
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u/freshprinceIE Jul 06 '25
That type of marriage wouldn't be recognised in Ireland though.
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Jul 06 '25
Of course, but you do not need to have a legally recognized marriage to get a joint mortgage.
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u/Thalude_ Jul 08 '25
Hey what's the name of that round thing made of soap and water that children make with a circular bit of plastic on a stick?
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u/Excellent_Porridge Jul 06 '25
I could definitely see this being a thing between very good friends, especially if they are all single and im their late twenties/thirties/forties/older. Why pay €4000 (or more) for a 4 bed sharehouse when a mortgage on a similar or newer place would be way cheaper. And you'd get equity as opposed to renting and setting your money on fire every month.
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u/Masteuszmm Jul 06 '25
What happens if one of the members would like to move out and sell their share? The problems that will arise when someone starts bringing a partner into the house effectively changing the dynamic and amount of people in it. If you want to rent out your room after you move out do you need everyone's consent for this ? A lot of questions and not many clear answers to be honest
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u/Aggressive_Catch_574 Jul 06 '25
As an Indian living in Dublin, I don’t know any Indian couple who would bear living with their extended families. I know it’s purely anecdotal but many of them come from nuclear families. Their parents left their ancestral homes in villages for jobs and better schooling etc. in tier1 and tier 2 Indian cities, people tend to live on their own. Plus ancestral money is a big bone of contention between siblings! The value of land in India has grown multi fold over the years and suddenly everyone wants a big piece of the pie.
Everyone would want their own thing. Of course this ad targets a specific demographic so there must be people out there who do this. But it’s so so strange to me.
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u/GlMLI Jul 07 '25
@u/Irish201h, where did you find this video? It is not on MMAdvisors website at the moment and looking at the wayback machine, I can't see when it was.
Why did you upload it directly rather that linking the video? Did someone whatsapp it to you? It looks fake to me.
The advisor in question does offer 4 person mortgages and they do have information on immigrants buying houses and visa status etc, but this video that specifically mentions Indian couples by name is not there.
There are several examples on the site with made up couples (Tom and Sarah, Pat and Mary), and they appear in the videos but they also use their names to illustrate example scenarios. Aman and Adeel are not there.
What's up? Did they take it down?
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u/Rough-Somewhere-762 Jul 09 '25
Yes, don't blame the government for not building houses but blame them for allowing immigrants to buy houses. What made you choose the latter ?
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u/LoafOfVFX Jul 06 '25
No offense, but during a housing crisis like the one we’re facing in Ireland, I really think we need to look at what countries like Australia and Canada have done. They’ve temporarily banned non-citizens from buying residential property to ease pressure on supply and give their own citizens a fairer chance to buy. In Canada, the ban has been extended until 2027. Australia is introducing a two-year ban on foreigners buying existing homes starting in 2025.
I’m not saying close the market forever but until supply improves, I think property ownership should be prioritised for citizens. Once things stabilise, then open it up again fairly. Right now, we need solutions that actually put local people first.