Hello all – I am a first time visitor to this sub. I have a query/thought. I am from Ireland where we believe we face an awful housing crisis and have a really tough time accessing property.
This has resulted from complex politicking over many years but the upshot of the situation is that investment funds can access the Irish residential property market in an almost entirely tax free manner + government more than willing to facilitate renting of social housing from stocks purchased by investment funds (no tax on this income either). If this topic interests you I recommend this video which explains it properly!
And so to my question. As a gainfully employed person in my early 30s I would traditionally have been thinking about purchasing a house. However rents are sky high, as are property prices. It increasingly feels like a very bad deal to enter a long term loan agreement to purchase property.
Are we alone in feeling this way in Ireland or is there prolific activity of investment funds reducing supply in other geographies?