Some employers do, some don't. Would a family buying a starter home in Balbriggan be on the higher marginal tax rate?
Some employers do, some don't. Would a family buying a starter home in Balbriggan be on the higher marginal tax rate?The annual train ticket from Balbriggan is €1540, most employers facilitate the Taxsaver Scheme so the cost to user will be closer to €750 or €14.50 a week for higher taxpayers.
I don't want to give the impression that I think the analysis in the report is perfect by any means. However, it is infinitely more robust than randomly picking 40 advertised houses for sale and then simply declaring that house prices in Dublin are affordable. That makes no sense.
The Dublin Regional Homeless Executive – which manages homelessness services across the four Dublin local authorities – was advised last month by the owners of the Gresham Hotel that it would no longer be accepting homeless families or individuals.
The Gresham has previously been paid by Dublin City Council to temporarily accommodate homeless families over the past number of years.
It is believed that 14 homeless families are currently staying at the Gresham, and they will have to source alternative accommodation by the end of the month.
Some of the families in question are believed to have been staying at the Gresham for over a year.
Bought my first home when I was twenty seven, had no new furniture for 3 years, house was a small two bed with no central heating, no kitchen, no shower, no washing machine or cooker. I had hand me down furniture for years. (it should be noted that my brother had a similar experience).
There are 41, 3 bedroom properties for sale in Dublin at present for less than €250,000. With a 10% deposit that represents less than €1,100 a month over 25 years.
Housing in Dublin is not unaffordable.
Fair enough.I suggest the best question is what type of housing is available to buyers with the median income, and where is it located
According to the report, the median household income in Dublin in 2016 was €58,400 and the median house price was €276,000.
If only that this was fake news!
The Dublin Regional Homeless Executive – which manages homelessness services across the four Dublin local authorities – was advised last month by the owners of the Gresham Hotel that it would no longer be accepting homeless families or individuals.
The Gresham has previously been paid by Dublin City Council to temporarily accommodate homeless families over the past number of years.
It is believed that 14 homeless families are currently staying at the Gresham, and they will have to source alternative accommodation by the end of the month.
Some of the families in question are believed to have been staying at the Gresham for over a year.
http://www.thejournal.ie/gresham-hotel-homeless-families-3781001-Jan2018/
Good stuff.A household income of €58,400 should give approx. €43,800 after tax or €3,650 per month.
A mortgage of €248,400 is €1,200 per month at 3.2% with AIB.
That is almost precisely one third of the after tax income. High but not excessive.
Good stuff.
So can we agree that a house price of €250k is at the limits of affordability for a household with a median income in Dublin?
Or to put it another way, a house priced above €250k would be unaffordable for 50% of households in Dublin on the basis of their household income.
A household income of €58,400 should give approx. €43,800 after tax or €3,650 per month.
Well, personally I think it would be more accurate to say that median house prices were moderately unaffordable, at the median household income, in 2016 (or, to use your phrase, "high but not excessive").If we agree that then we are saying that, the median house, was affordable at the median household income, last year.
It's outrageous that other poster even brought it up at all in the context of paying mortgages of over one thousand. That and other things on this thread lead me to believe there is a load of nonsense being debated. Thank you for the correct figure. No idea but what is 14.50, three caffe lattes in Starbucks a week.The annual train ticket from Balbriggan is €1540, most employers facilitate the Taxsaver Scheme so the cost to user will be closer to €750 or €14.50 a week for higher taxpayers.
Prove it with real figures.If you can't afford the mortgage under stress conditions, you can't afford the mortgage.
Not so much don't buy, as can't buy.
Let's say you pay the full fare. If 30 euro is the deal breaker you shouldn't even be thinking of looking at a house.Some employers do, some don't. Would a family buying a starter home in Balbriggan be on the higher marginal tax rate?
Prove it with real figures.
Don't know what you mean by stress, but buying a house is very stressful. In addition to being financially stressful. Never met a person yet, in general, who didn't struggle in the early years to pay their mortgage.
Let's say you pay the full fare. If 30 euro is the deal breaker you shouldn't even be thinking of looking at a house.
Can't believe how many of you are on about the train costs. If that's an issue every worker should have zero travel costs.
Could someone tell me what is wrong with Balbriggan please.
I don't have to prove anything. You are the one suggesting just because someone right now can afford a high level of rent, they can afford the mortgage on the property for the next 20 years, regardless of interest rates, or other economic stresses. I am pointing to central bank limits of 3.5 on salary and bank stress testing of ability to pay mortgage.
The other stress I'm talking about is the stress of buying in an around and being hounded by anti-social behaviour.