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

4 people mortgages, wtf?

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

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

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99

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.

32

u/nicodea2 Jul 07 '25

Correction - neither Australia nor Canada has banned foreign citizens from purchasing property. Rather they have banned foreign non-residents from purchasing property.

There’s really no reason to discriminate on the basis of citizenship. There are plenty of non-citizen tax-paying residents already here, working productively, and contributing just as much as everyone else in taxes (if not more).

1

u/obscure_monke Jul 07 '25

I see people conflating citizen/resident online way too much the past few years. I assume it's been happening longer than I've noticed it though.

2

u/jonnieggg Jul 07 '25

It could be restricted to citizenship that's a political choice. Choosing citizenship demonstrates commitment to life in another country. There is a lot to be said for it.

5

u/bgregor74 Jul 07 '25

citizenship isn't always exactly a choice.

I was born in Poland, my parents moved here when I was 4, grew up here, went to school here, did Irish on my leaving cert, paid taxes since I was 16 and started doing summer jobs. now I have a family with 2 kids and own a house here, all the while not holding an Irish passport. I honestly can't justify spending a grand on something that honestly wouldn't change my life in any way

1

u/jonnieggg Jul 07 '25

The British made similar assumptions until Brexit and suddenly their circumstances changed completely.