home buyers

Are Millennials Potential Home Buyers?

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Yesterday morning the journal.ie published an article posing the question “Are house prices really out of the reach of Irish millennials?” Naturally, this enraged many people as the usual claims were made about millennials being lazy and unmotivated, with an entitled and expectant attitude. Some readers claimed the reason for millennials being unable to afford a house, it due to their love of avocado toast and lattes.

Here are just some of the opinions that were found in the comment section of the article on facebook.

Less than an hour outside of Dublin lies Navan, Co Meath. Houses are on average from €300,000+ We don’t know what wage this individual is earning, but no millennial we know could afford that by themselves, considering most are on minimum wage or on zero hour contracts.

Oh really? Is that so? So it’s nothing to do with the fact that millennials are renting more than previous generations, and with the atrociously high cost of rent making it impossible to save for the 10-20% deposit for a home.

Data describing the percentage of people renting in Ireland

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We don’t know any millennial who is driving a brand new 172 car. Maybe this is due to the fact that insurance for young drivers is through the roof. Unless daddy pays for it. But that’s for another day.

Thankfully, there were many people in the comment section who understands the reality and the unfair start millennials face in regards to owning property.

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We hope you blood isn’t boiling too much. If it is, don’t worry, we understand. Here’s a survival guide with coping mechanisms.

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A community and youth development student, a socialist, a feminist, a lover of plants, a lover of food, a very small person