The majority of people staying in Ireland's urban AirBnBs and even many hostels right now are people who are living and working here, the most elastic aspect of housing supply in Ireland right now is short term rentals with local workers displacing tourists.
I'm from Italy, the more I watch this channel the more I fell in love with it. Excellent job, Irish friend! Just one note, Rome has a housing crisis (in renting) as well, lol (not as bad as Milan...). I place the fault on rental laws.
Skip the Emily thanks, Simple supply and demand, not enough supply of properties in Ireland. The country is supposed to be for the people, not vulture funds or short term rentals.
Great video just one small issue. You seemed to insinuate that the Paris housing crisis is caused at least in part by an unwillingness to build tall buildings. However Paris is the most density populated city in Europe and is twice the pop density of New York City. this is achieved by a continuous urban fabric of 6-8 story apartment. This mid rise high density approach offers a model for how to achieve density without excessive height. Great video keep up the good work
Also, Paris is built on top of catacombs, old chalk mines and other tunnels. Skyscrapers would put too much pressure on this land and be subject to subsidence.
Paris is indeed dense with only 6-8 story buildings, but is it also true that they’ve had the demand for the “next level up” in density for at least a decade (if not longer). Alternatively, more places in the Ile de France could replicate the central parts of Paris to achieve housing growth, either way Paris housing has been rather stagnant (~1.2 Million homes in 1968 vs ~1.4 million homes in 2020).
@@Whatneeds2bsaid Good point Paris will definitely have to look at next steps in regards to increasing it's housing supply. I suppose Irish cities are nowhere near that yet so for us 6-8 stories medium rise high density would be a great place to start.
The New York versus Paris density is such an overdone strawman. New York city limits include Manhattan yes but also tons and tons of single family housing that Paris does not. Why not compare Paris to Tokyo instead.
The Paris metropolitan area has a population of about 13 million, while the New York metropolitan area is home to approximately 22 million. Paris proper (within its 105 km² boundaries) has a population density of around 20,300 residents per km², compared to Manhattan’s 28,154 residents per km². However, the New York metro region, covering nearly three times the land area of Paris’s metro region, has a much lower average density of 582 residents per km² versus 1,041 residents per km² for Paris. This makes direct comparisons between the two regions challenging due to differences in urban sprawl.
Don't forget that it's still on the books that rents in Ireland can only go upwards, not down. We can't have competition in the market if there can only be upwards pressure.
High rental yields is what will attract investments in growing the housing stock, obviously in the short/medium term pain rents will remain high until demand subsides or is met.
Genuine question why do people want to fill the "empty" parts of Ireland? Why is mid-high population density and urbanism seen as good compared to low-mid population density and rurality which is seen as bad or a waste??
Urban density is just much more energy/ resource and cost efficient than one-off houses that need to be connected to all services one by one. More urban density means more services for locals, mass transportation options are financially viable etc...and it avoids the situation of filling in the "empty" parts of Ireland. it's good to see the densification of Dublin right now, despite the broken planning system things seem to go in the right direction.
Being from Kerry I would love if they banned short-term lets like Airbnb. There are 44 houses on daft available for rent in the entire county for crazy prices, while there are hundreds of places available on Airbnb - some of them rooms but mostly small apartments and houses. It’s depressing!
To blanketly say rent controls don't work is a lie they've worked brilliantly in Austria Germany, Sweden, France on the Netherlands. It's important to look at what their control actually does instead of just labeling it bad for all. But banning short-term airbnb style leasing in Dublin though definitely seems positive direction.
They work ok in cities where population growth is rather organic, the issue in Ireland is that population growth is outpacing the building capacity, and it's particularly acute in urban areas.
6:09 ceapaim go ndéanann sé ciall srian a chur ar léasanna gearrthéarmacha don am i láthair nuair atá an soláthar tithíochta chomh híseal sin. Is i gceantair mhór turasóireachta is mó atá brú á chur ar mhuintir na háite. Thógfadh sé tamall de bhlianta soláthar a chur ar ais ag leibhéal a dhéanfadh freastal cuí ar mhuintir na háite, gan a bheith ag trácht ar sholáthar do thurasóirí. Idir an dá linn ní féidir muintir na háite a fhágaint san fhaopach. Óstáin do na turasóirí, agus tithe do na háitritheoirí.
I just want to comment here that I’ve never been a Patreon supporter of any channel but I immediately wanted to support your channel. Brilliant work on the channel and a massive help in educating the people of Ireland on complex issues. Moving the dial slightly on critical social issues.
Having had my local council participate in destroying my dream of owning my own home by way of declining finance under the local authority home loan by reason of minor works being required, I believe you are over relying on the concept of local government. In my case they had ultimate discretion to green or red light any chosen property but they stated works required would literally cost 5xtimes what I submitted in quotations from professional contractors on a worst case scenario basis. My story ends with my deposit being returned and me spending 6 months in depression after wasting 2.5 years trying to avail of their ‘help’. Even the ombudsman’s office acknowledged I proved everything I said was correct and true ‘but the CoCo’s rates submitted trump the contractors written quotations’. CoCos in Ireland are NOT the answer. They are bureaucrats from the tops of their heads to the tops of their toes and their job is to avoid their master’s criticism. The culture within these offices is counter to what their states brief is
Seriously though. I appreciate this channel’s perspective but to end every video with the argument that the magic panacea for Ireland’s crises is decentralization is clearly just ideologically driven rather that evidence based. If they even bothered at all to take a look at the rest of the post-British countries, the overarching trend is that of financialization of the housing market incentivizing landlords and homeowners to use national, provincial, and local governing institutions to block the elasticity of housing supply at every turn. Regardless of the degree of centralization of the respective country.
Unfortunately I can't afford to support your channel for the next while, but I'm delighted to see you're still active. I would love to see more 3D models of potential developments across Ireland. They are so inspiring and informative. Thanks lads.
The optium hight for housing the most people in the smalest area is 8-12 stories with Paris and Barcelona's 6-10 story neighbourhoods with plenty of public parks and squares having a higher population density than any US neighbourhood with highrise apartments.
I appreciate this channel’s perspective but to end every video with the argument that the magic panacea for Ireland’s crises is decentralization is clearly just ideologically driven rather that evidence based. If they even bothered to take a look at the rest of the post-British countries, the overarching trend is that of financialization of the housing market incentivizing landlords and homeowners to use national, provincial, and local governing institutions to block the elasticity of housing supply at every turn. Regardless of the degree of centralization of the respective country.
Thanks for the analysis! A bit off-topic, but I wanted to ask: I have a SafePal wallet with USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). Could you explain how to move them to Binance?
You lost me 30.seconds in. Your videos are usually very good, but I have no idea who Emily is. Making it all about her made me switch off immediately. There's a huge amount of high quality TV in the world today, so much so that each individual show attracts a much smaller audience than it would have done back when we just had three channels to choose from. Your pop culture references really need to be much more universal, or at least relevant to your audience. Someone else commented that it's just a supply and demand problem, which told me all I need to know. If there was any greater insight, I'm afraid I didn't stick around long enough to find out what it is.
If you showcase a load of comments that say things like "Ireland for the Irish", you need to explain why these are extremely racist sentiments. Disappointed that ye giving these ideas a platform without any challenge whatsoever
The majority of people staying in Ireland's urban AirBnBs and even many hostels right now are people who are living and working here, the most elastic aspect of housing supply in Ireland right now is short term rentals with local workers displacing tourists.
I'm from Italy, the more I watch this channel the more I fell in love with it. Excellent job, Irish friend! Just one note, Rome has a housing crisis (in renting) as well, lol (not as bad as Milan...). I place the fault on rental laws.
Grazie, friend
Skip the Emily thanks, Simple supply and demand, not enough supply of properties in Ireland. The country is supposed to be for the people, not vulture funds or short term rentals.
You can just build more houses though
We need to get over our fear of mid-rise. Ireland has the least amount of flats in the European Union.
Great video just one small issue. You seemed to insinuate that the Paris housing crisis is caused at least in part by an unwillingness to build tall buildings. However Paris is the most density populated city in Europe and is twice the pop density of New York City. this is achieved by a continuous urban fabric of 6-8 story apartment. This mid rise high density approach offers a model for how to achieve density without excessive height. Great video keep up the good work
Also, Paris is built on top of catacombs, old chalk mines and other tunnels. Skyscrapers would put too much pressure on this land and be subject to subsidence.
Paris is indeed dense with only 6-8 story buildings, but is it also true that they’ve had the demand for the “next level up” in density for at least a decade (if not longer). Alternatively, more places in the Ile de France could replicate the central parts of Paris to achieve housing growth, either way Paris housing has been rather stagnant (~1.2 Million homes in 1968 vs ~1.4 million homes in 2020).
@@Whatneeds2bsaid Good point Paris will definitely have to look at next steps in regards to increasing it's housing supply. I suppose Irish cities are nowhere near that yet so for us 6-8 stories medium rise high density would be a great place to start.
The New York versus Paris density is such an overdone strawman. New York city limits include Manhattan yes but also tons and tons of single family housing that Paris does not. Why not compare Paris to Tokyo instead.
The Paris metropolitan area has a population of about 13 million, while the New York metropolitan area is home to approximately 22 million. Paris proper (within its 105 km² boundaries) has a population density of around 20,300 residents per km², compared to Manhattan’s 28,154 residents per km². However, the New York metro region, covering nearly three times the land area of Paris’s metro region, has a much lower average density of 582 residents per km² versus 1,041 residents per km² for Paris. This makes direct comparisons between the two regions challenging due to differences in urban sprawl.
Don't forget that it's still on the books that rents in Ireland can only go upwards, not down. We can't have competition in the market if there can only be upwards pressure.
That's not on any books. Any landlord can drop their rent if they want to, but there's no need to when supply is so restricted.
You mix up commercial and residential leases. Commercial are upwards only; residential leases are normally 12 months duration with negotiated renewal.
High rental yields is what will attract investments in growing the housing stock, obviously in the short/medium term pain rents will remain high until demand subsides or is met.
Genuine question why do people want to fill the "empty" parts of Ireland?
Why is mid-high population density and urbanism seen as good compared to low-mid population density and rurality which is seen as bad or a waste??
Urban density is just much more energy/ resource and cost efficient than one-off houses that need to be connected to all services one by one. More urban density means more services for locals, mass transportation options are financially viable etc...and it avoids the situation of filling in the "empty" parts of Ireland. it's good to see the densification of Dublin right now, despite the broken planning system things seem to go in the right direction.
Nicely done. Great analysis and framing. 👏
"Emily in Ireland : Chic Outfits, Chaotic Rentals!
Emily, Mayor of Waterford: Netflix's surprise smash hit series about the decentralisation of Irish government.
Being from Kerry I would love if they banned short-term lets like Airbnb. There are 44 houses on daft available for rent in the entire county for crazy prices, while there are hundreds of places available on Airbnb - some of them rooms but mostly small apartments and houses. It’s depressing!
To blanketly say rent controls don't work is a lie they've worked brilliantly in Austria Germany, Sweden, France on the Netherlands. It's important to look at what their control actually does instead of just labeling it bad for all. But banning short-term airbnb style leasing in Dublin though definitely seems positive direction.
Have they really worked brilliantly in those countries? That is not my understanding
They work ok in cities where population growth is rather organic, the issue in Ireland is that population growth is outpacing the building capacity, and it's particularly acute in urban areas.
@@g-man4744 Thank you for that, that actually makes sense.
6:09 ceapaim go ndéanann sé ciall srian a chur ar léasanna gearrthéarmacha don am i láthair nuair atá an soláthar tithíochta chomh híseal sin. Is i gceantair mhór turasóireachta is mó atá brú á chur ar mhuintir na háite. Thógfadh sé tamall de bhlianta soláthar a chur ar ais ag leibhéal a dhéanfadh freastal cuí ar mhuintir na háite, gan a bheith ag trácht ar sholáthar do thurasóirí. Idir an dá linn ní féidir muintir na háite a fhágaint san fhaopach.
Óstáin do na turasóirí, agus tithe do na háitritheoirí.
100% agree
It's never short term though. The bandaid just becomes the permanent fix.
I just want to comment here that I’ve never been a Patreon supporter of any channel but I immediately wanted to support your channel.
Brilliant work on the channel and a massive help in educating the people of Ireland on complex issues. Moving the dial slightly on critical social issues.
Thanks a lot
Having had my local council participate in destroying my dream of owning my own home by way of declining finance under the local authority home loan by reason of minor works being required, I believe you are over relying on the concept of local government.
In my case they had ultimate discretion to green or red light any chosen property but they stated works required would literally cost 5xtimes what I submitted in quotations from professional contractors on a worst case scenario basis. My story ends with my deposit being returned and me spending 6 months in depression after wasting 2.5 years trying to avail of their ‘help’. Even the ombudsman’s office acknowledged I proved everything I said was correct and true ‘but the CoCo’s rates submitted trump the contractors written quotations’.
CoCos in Ireland are NOT the answer. They are bureaucrats from the tops of their heads to the tops of their toes and their job is to avoid their master’s criticism. The culture within these offices is counter to what their states brief is
Seriously though. I appreciate this channel’s perspective but to end every video with the argument that the magic panacea for Ireland’s crises is decentralization is clearly just ideologically driven rather that evidence based.
If they even bothered at all to take a look at the rest of the post-British countries, the overarching trend is that of financialization of the housing market incentivizing landlords and homeowners to use national, provincial, and local governing institutions to block the elasticity of housing supply at every turn. Regardless of the degree of centralization of the respective country.
I suppose the problem there would be the lack of an elected mayor wouldn't it? No accountability via vote... Maybe?
Unfortunately I can't afford to support your channel for the next while, but I'm delighted to see you're still active. I would love to see more 3D models of potential developments across Ireland. They are so inspiring and informative. Thanks lads.
well done polysee. very high quality content and visual execution
Using Texas as a good example of development is a poor idea. Heuston's zoning is terrible and it's impossible to exist there without a car
Excellent video! Hope Emily can move to wherever she wants ;)
The optium hight for housing the most people in the smalest area is 8-12 stories with Paris and Barcelona's 6-10 story neighbourhoods with plenty of public parks and squares having a higher population density than any US neighbourhood with highrise apartments.
Amazing content as always!!
I appreciate this channel’s perspective but to end every video with the argument that the magic panacea for Ireland’s crises is decentralization is clearly just ideologically driven rather that evidence based.
If they even bothered to take a look at the rest of the post-British countries, the overarching trend is that of financialization of the housing market incentivizing landlords and homeowners to use national, provincial, and local governing institutions to block the elasticity of housing supply at every turn. Regardless of the degree of centralization of the respective country.
Is it not simpler than that - do they not just block it because of NIMBYism?
Give this man a Custard tart!!
Emily won't move to Dublin, the city is hideous compared to the likes of Rome.
Hideous compared to anything
😆
Emily in Kiltimagh!
Thanks for the analysis! A bit off-topic, but I wanted to ask: I have a SafePal wallet with USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). Could you explain how to move them to Binance?
You lost me 30.seconds in. Your videos are usually very good, but I have no idea who Emily is. Making it all about her made me switch off immediately.
There's a huge amount of high quality TV in the world today, so much so that each individual show attracts a much smaller audience than it would have done back when we just had three channels to choose from. Your pop culture references really need to be much more universal, or at least relevant to your audience.
Someone else commented that it's just a supply and demand problem, which told me all I need to know. If there was any greater insight, I'm afraid I didn't stick around long enough to find out what it is.
If you showcase a load of comments that say things like "Ireland for the Irish", you need to explain why these are extremely racist sentiments. Disappointed that ye giving these ideas a platform without any challenge whatsoever
Local Democracy would need massive reform before any expansion. Re-open Glenalbyn Pool ua-cam.com/video/pdIJX8L03jM/v-deo.htmlsi=FI-tBhaCkF_Pd00i