Simon Coveney not bringing in Rent certainty

carlovian

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Simon Coveney announced last night on Pat Kenny show that he is not going
to bring in Rent certainty linking rents to the Consumer Price Inflation.

This despite Rents being at higher levels than the excesses of the Celtic tiger.

Dublin rents have bypassed the Celtic Tiger peak and reached an all-time high

This despite Irelands largest landlord feeling sorry for Irish tenants.

Ireland

“It’s a great market,” Ehrlich agrees. “We’ve never seen rental increases like this in any jurisdiction that we’re aware of.”

It also looks as if there will be no protection for tenants whose properties are in receivership
despite legislation in this area promised as far back as 2013.

Jan O

My question is where is this long promised legislation to protect tenants who are paying their rents
but whose landlord is in receivership and how high does Coveney want rents to go before he acts.

Why must Rents and House price increases be higher than the normal cost of living ?
 


JimmyFoley

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He's right not to.

Why would you bring in something that increases demand while reducing supply?
 

Man or Mouse

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Simon Coveney announced last night on Pat Kenny show that he is not going
to bring in Rent certainty linking rents to the Consumer Price Inflation.

This despite Rents being at higher levels than the excesses of the Celtic tiger.

Dublin rents have bypassed the Celtic Tiger peak and reached an all-time high

This despite Irelands largest landlord feeling sorry for Irish tenants.

Ireland

“It’s a great market,” Ehrlich agrees. “We’ve never seen rental increases like this in any jurisdiction that we’re aware of.”

It also looks as if there will be no protection for tenants whose properties are in receivership
despite legislation in this area promised as far back as 2013.

Jan O

My question is where is this long promised legislation to protect tenants who are paying their rents
but whose landlord is in receivership and how high does Coveney want rents to go before he acts.

Why must Rents and House price increases be higher than the normal cost of living ?
Maybe he should benchmark them?
 

Roll_On

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Capping rental growth at the rate of inflation will result in less construction of new homes, which will ultimately damage us more. If the state wanted to make housing affordable it must tackle the supply issue under three simple headings:

When you buy a new apartment in Dublin, 40% of the price tag will be taxes.

More than half of households who will live in central Dublin will be carless, yet developers are required to spend big money excavating basement car parks.

Building heights in our capital city are effectively capped at 4 storeys, making new residential development unprofitable for small, expensive patches of land. This 4 storey cap is enforced by An Taisce, David Norris and the Irish Georgian society, i.e. people who are wealthy enough to never be forced to spend half their lives travelling from Kildare.

But of course for the moment it is not in the interest of government parties to reduce the cost of housing because the tax payer is still heavily invested in nama assets. So the government will simply come up with optical illusions that they are tackling the crises with these silly schemes. The fact is up until the recent election Labour party candidates were opposing residential development that they felt 'wasn't right for their area'. While talking out the other side of their mouths about increasing rent allowance.
 

carlovian

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Capping rental growth at the rate of inflation will result in less construction of new homes, which will ultimately damage us more. If the state wanted to make housing affordable it must tackle the supply issue under three simple headings:

When you buy a new apartment in Dublin, 40% of the price tag will be taxes.

More than half of households who will live in central Dublin will be carless, yet developers are required to spend big money excavating basement car parks.

Building heights in our capital city are effectively capped at 4 storeys, making new residential development unprofitable for small, expensive patches of land. This 4 storey cap is enforced by An Taisce, David Norris and the Irish Georgian society, i.e. people who are wealthy enough to never be forced to spend half their lives travelling from Kildare.

But of course for the moment it is not in the interest of government parties to reduce the cost of housing because the tax payer is still heavily invested in nama assets. So the government will simply come up with optical illusions that they are tackling the crises with these silly schemes. The fact is up until the recent election Labour party candidates were opposing residential development that they felt 'wasn't right for their area'. While talking out the other side of their mouths about increasing rent allowance.
I agree with your comments on costs but disagree on the Rent certainty issue.

Rents are no.w higher than in 2007 when we were building over 80,000 houses.

Increasing rents are driving the homelessness issue but also act as a block to
companies setting up here and will drive up wage expectations.
 

Watcher2

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Capping rental growth at the rate of inflation will result in less construction of new homes, which will ultimately damage us more. If the state wanted to make housing affordable it must tackle the supply issue under three simple headings:

When you buy a new apartment in Dublin, 40% of the price tag will be taxes.

More than half of households who will live in central Dublin will be carless, yet developers are required to spend big money excavating basement car parks.

Building heights in our capital city are effectively capped at 4 storeys, making new residential development unprofitable for small, expensive patches of land. This 4 storey cap is enforced by An Taisce, David Norris and the Irish Georgian society, i.e. people who are wealthy enough to never be forced to spend half their lives travelling from Kildare.

But of course for the moment it is not in the interest of government parties to reduce the cost of housing because the tax payer is still heavily invested in nama assets. So the government will simply come up with optical illusions that they are tackling the crises with these silly schemes. The fact is up until the recent election Labour party candidates were opposing residential development that they felt 'wasn't right for their area'. While talking out the other side of their mouths about increasing rent allowance.
NAMA is only an excuse at this stage. Its 10 year life span appears to be extending to an indefinite plan. Further, its main purpose was to sort out the housing, mortgage and loan mess which is only being exacerbated by these kinds of policies and NAMA is being used in the opposite way to how it was supposedly intended.

Like I said, this is a putrid little banana republic. Its run by self interested scum.
 

carlovian

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You're very naive, he can't believe his good luck.
Thats my point. It was the article that used the term "feeling sorry".

Cant imagine he loses too much sleep over the rental crisis.

Bit like Enda Kenny so.
 

hammer

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Why isn`t health insurance linked to CPI ?

Why isn`t car insurance linked to CPI ?

Why aren`t PS wages linked to CPI ?

ETC...
 

darkhorse

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Much easier would be to reduce the tax penalties on landlords and encourage investment in property.
That way supply would increase and less upward pressure on rents.
 

hammer

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NAMA is only an excuse at this stage. Its 10 year life span appears to be extending to an indefinite plan. Further, its main purpose was to sort out the housing, mortgage and loan mess which is only being exacerbated by these kinds of policies and NAMA is being used in the opposite way to how it was supposedly intended.

Like I said, this is a putrid little banana republic. Its run by self interested scum.
Amazing also that Focus Ireland and others turned down properties offered to them by NAMA.

300,000 empty houses in Ireland tonight and we have a homeless problem.
 

gleeful

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There should be rent inflation curbs - but there should also be state funded housing developments to increase supply.
 

carlovian

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Much easier would be to reduce the tax penalties on landlords and encourage investment in property.
That way supply would increase and less upward pressure on rents.
And in the meanwhile as we wait on this increased supply ?
 


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