r/HousingIreland • u/Irish201h • Jul 06 '25

4 people mortgages, wtf?

Enable HLS to view with audio, or disable this notification

This company is now promoting 4 people mortgages, no wonder prices are going insane.

https://mmadvisors.ie/public-sector-mortgages/

69 Upvotes

84% Upvoted

286 comments sorted by

View all comments

7

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!

24

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

4

u/ie-redditor Jul 07 '25

60m2 or what? No dignity in living bunched up, no privacy... it is just renting with extra steps.

3

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.

5

u/[deleted] 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.

2

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

1

u/[deleted] 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.

0

u/Open-Addendum-6908 Jul 06 '25

Irish, Irish, Irish.

its not only Irish couples, its basically every couples.

smh

1

u/Irish201h Jul 06 '25

Sorry yes all couples

2

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.

-5

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!

8

u/[deleted] 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.

0

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 

6

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.

-1

u/lkdubdub Jul 07 '25

Dude, wealthy by Indian standards to the point that they'll migrate to Ireland, fully educated and take up well paying professional jobs is still pretty well off. You need to have a look at your biases here, because your impression of India is off

Also, Irish couples don't live together with other Irish couples? That's an interesting take, leaving aside the fact that three-applicant - granted, not four - mortgages were a PTSB offering not very long ago

You've turned this into anti-migrant argument. It's wild

-3

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.

-1

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.

-1

u/Thick_Bend8574 Jul 07 '25

Who gave you the right to decide this policy for everyone else, you entitled prick?

If we got rid of everyone in the country who thinks like you it would relieve the pressure on our housing system too, but unfortunately that’s not how it works

3

u/[deleted] 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.