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Exorcising Ireland’S Last Ghost Estates

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Exorcising Ireland’s last ghost estates: Demolition begins on the housing projects built during economic boom that left country with 300,000 empty homes

Thousands of Irish housing projects were started during the Celtic Tiger boom years but abandoned after the crash

When recession hit in the late 2000s the credit crunch meant hundreds of thousands of homes were left empty

Many of the half-finished estates lack basic amenities like lighting and schools and are deemed uneconomically viable

Irish housing minister last month ordered a further 40 of the worst estates be pulled down at the developers' expense

Irish property prices are still almost 50% below their peak in 2007

http://www.dailymail.co.uk/news/article-2531852/Exorcising-Irelands-ghost-estates-Demolition-begins-housing-projects-built-economic-boom-left-country-300-000-homes.html

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Will we see similar sights in China in due course? Or will the Chinese state take them off the developers hands and give them to the many needy of modern homes over there?

I'm sure that, perhaps, maybe some of these Irish houses may well genuinely inadequate (e.g poorly located, shoddily built or just even barely even started construction, etc), but.....

I'll bet that IF these were sold at giveaway prices, with the proviso that the new owners finish them off at their own expense, there would be no shortage of people from near and far who would clamour at the chance to own a home for themselves and their family - and economic viability and community would grow from there.....No?

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Will we see similar sights in China in due course?

One thing's for sure, we won't see anything similar in the South East of England, nor anywhere else in Britain that has a half way decent jobs market or attractive scenery for second homes.

Why? Because Ireland had a building boom (like Spain and the USA) which facilitated their crash in nominal house prices.

We didn't have a building boom (in fact the opposite, Britain's NIMBY's have ensured we have a building drought) which means we won't see much of a decline in nominal house prices, any adjustment here will have to be a protracted affair across many years with inflation doing the work.

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Will we see similar sights in China in due course? Or will the Chinese state take them off the developers hands and give them to the many needy of modern homes over there?

I'm sure that, perhaps, maybe some of these Irish houses may well genuinely inadequate (e.g poorly located, shoddily built or just even barely even started construction, etc), but.....

I'll bet that IF these were sold at giveaway prices, with the proviso that the new owners finish them off at their own expense, there would be no shortage of people from near and far who would clamour at the chance to own a home for themselves and their family - and economic viability and community would grow from there.....No?

There was a thread about this last week. The same point was made.

In some cases it would be great to give the houses away, but it is not practical in reality. If an estate is half built it would cost a lot to have them connected to the utilities. Roads may not have been finished. There may not be any work nearby.

You would be better off buying a second hand house somewhere useful than taking on a half-finished millstone in the middle of nowhere.

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There was a thread about this last week. The same point was made.

In some cases it would be great to give the houses away, but it is not practical in reality. If an estate is half built it would cost a lot to have them connected to the utilities. Roads may not have been finished. There may not be any work nearby.

You would be better off buying a second hand house somewhere useful than taking on a half-finished millstone in the middle of nowhere.

Really?

If the houses were literally given away (say a token price of £10 or even £100.....) BUT the buyer HAD to end up paying, say, £20,000 towards the completion of such facilities then in total, collectively from all the houses sold, surely the sums generated would be enough to pay for completion of the estates?

Even at these sums of, say, £20,000....this would still be a bargain for many and there would be no shortage of people who would take up such an offer?

As the above replier says 'burning the harvest whilst the peasants starve....'

The idea of demolishing fundamentally good housing when there are so many in need is just perverse and speaks volumes for just how screwed up we have collectively become to allow this to happen.

As was said, thank heavens it's unlikely to happen here.

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Really?

If the houses were literally given away (say a token price of £10 or even £100.....) BUT the buyer HAD to end up paying, say, £20,000 towards the completion of such facilities then in total, collectively from all the houses sold, surely the sums generated would be enough to pay for completion of the estates?

Even at these sums of, say, £20,000....this would still be a bargain for many and there would be no shortage of people who would take up such an offer?

As the above replier says 'burning the harvest whilst the peasants starve....'

The idea of demolishing fundamentally good housing when there are so many in need is just perverse and speaks volumes for just how screwed up we have collectively become to allow this to happen.

As was said, thank heavens it's unlikely to happen here.

It would appear that cases of demolition are the exception, not the norm. A small number are being returned to farmland to be economically productive. Look at the photo in this article. Good luck trying to make that habitable for £20k! :lol:

Ghost Estate

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