The wannabe Conor McGregor stares out the Luas window at the cut-stone walls of Grangegorman. He wears a baby-blue Adidas and Nike combo, Moncler Polo shirt (top button closed), week-old stubble, fresh skin-fade, double-swallow tattoo on the calf, and no socks. Clutching his personally engraved snooker cue, with Biggie blaring out from his chrome Beats, he is a man going places.
Beside him, a young couple – he a hirsute lumberjack, she a painted Rockabilly – clutch a Sherry Fitzgerald brochure. These are graduate refugees priced out of Portobello, contemplating a new life north of the river.
They’d better move quickly. In the chaos of another property mania, this part of the Dublin 7 house market is a key cultural frontline in the capital – another commercial battleground driven by rampant gentrification, redbrick envy, and young 550-point Leaving Cert professionals’ terror of living beyond the M50.
Phibsboro accords to the iron rule of upwardly mobile Ireland: the law of “ancient signalling”. The core principle of ancient signalling is that anything old is posh, and the older it is, the posher it is; unless, of course, it’s Scandinavian, in which case clean lines can beat archaic texture, provided there is a wood-burning stove in each spotless room.
Phibsboro is coming down with Victorian redbrick terraces, many at probate stage as an older generation of Dubliners dies out. Their families headed up the N2 during the Tiger years, and negative equity means they need to get the best price for Nan’s house. The Luas Cross-City is also playing its part in rising values here.
Names and numbers
There’s a queue out the front door for this morning’s viewing on Munster Street. The cat-who-got-the-cream estate agent is handing out cards, taking names and numbers. We are moving way past the asking price.
This one needs “a bit of work”. Such a challenge channels the inner Dermot Bannon that lies dormant within the soul of all young house-hunters. No project is too daunting. A wall knocked here, a kitchen island there, a few strategic Tom Dixon lights and you’d never know you weren’t in Ranelagh (pronounced, using the Alexandra College umlaut, “Ren”, not “Ran”).
A legion of tasteful builders, the ones with their own websites and Instagram pages, are looking at an exposed brick ‘n’ timber bonanza.
Ms 550 Points and Mr Snooker Cue might soon become neighbours, which would be a happy ending to this Saturday morning story.
But there can only be one buyer of the Munster Street house – the losers from the current scramble for property are the many who would like to buy a home in Phibsboro but can’t.
What really interests me in this vignette from Dublin 7 isn’t the residential relations but how it relates to the economy. In particular, how it relates to a concept called “site-value tax”, which many economists argue is the only long-term solution to the Irish property problem.
Core argument
Henry George wrote the most successful economics book ever. Progress and Poverty was published in 1879. The book sold millions, and was quoted extensively by people as varied as Tolstoy, Churchill, and George Bernard Shaw. In the 1880s, its sales in America were second only to the Bible.
The core argument of this book is that land should be taxed heavily because the value of land is made not by the owners but by its location. The location is made valuable by other people.
Land-owners enjoy unearned income that is generated by great transport links and proximity to customers and businesses. Therefore, the site value of the land is not generated by the landowner but by society in general.
George argued that increases in the value of sites should be taxed and taxed heavily – so much so that countries could replace income tax with land taxes. It is a truly compelling and egalitarian idea and, unlike other taxes, it wouldn’t lead to capital flight or to people working less.
In fact, if implemented properly, it would address dereliction and liberate millions of income tax payers from the heavy burden of excessive income tax.
Take, for instance, the example of the new Luas and house prices and rents in the Phibsboro area. House values, commercial land values, and rents have increased substantially with the help of public investment in the new Luas system.
Who paid for this? You did. Who benefits from this? The lucky local landowner does. What did he or she do for this windfall? Nothing.
So this is a transfer of wealth from the general population through taxation and public investment to the individual in rocketing land prices.
Unearned windfall
If this unearned windfall were taxed with a site-value tax or a location fee, the impact would be dramatic and the logic would be fair. It is also much fairer than property tax as it doesn’t penalise people for renovations they make. Think of all those aspiring Dermot Bannons.
It would undermine the stranglehold the property lobby has on Irish economics, help reduce land speculation and hoarding, and penalise the dereliction that has blighted our cities as property owners hoard land, waiting for prices to rise.
All areas of the capital city and its suburbs would be covered by a “location fee” because land values are driven up by other people, not the landowner. This is why you never see giant shopping centres like Dundrum built in the middle of the countryside.
The value of the Dundrum site is the people and businesses located nearby, the M50 access, the buses, and the Luas. Why should the owner of the land get all the upside when you the taxpayer and the citizen creates the value? The shops would still trade, but their rents would be much lower, so prices would be lower too.
As we face another housing crisis, surely new thinking isn’t beyond us?
David, I think you are a tad deluded if you believe that lower rents will follow a site value tax and hence, lower prices. Did we not see opportunism from the Hospitality Trade in retaining all the reduction in VAT and just adding it to their bottom line? In Cork we even had some food businesses increasing prices in the confusion at that time. Secondly, our successive governments (Including ones I have voted for) have proven lazy in effecting Tax Reform – easy taxes (e.g. VRT) are never reduced or withdrawn , just adding new taxes on top and screwing… Read more »
Is there a term to describe any term that becomes a cliche, before it is even known ? Lifestyle chic ?
I recommend the Century of the Self, by Adam Curtis. Apart from anything else, you will come equipped with the ability to laugh off the nonsense of lifestyle chic, and manner of “signalling” – whether related to conspicuous consumption, empty values, or lifestyle chic.
Who is Dermot Bannon ? And why is he referenced twice in a acticle, with countless references to the relentless need for people to appear to be something that they are not ?
Tesla is in trouble in the US. For liberals everywhere, this is a time to buy a Tesla and shore up the darling of Liberal America. And strike one to prevent Trump laughing at Elon Musk. Or on an even smaller scale, to buy shares in Tesla, and shore up confidence in the ecology car that is trying to push forward towards a breakthrough. On the other side is all those Mid-USA conservatives who will probably laugh at Tesla if it fails. Especially considering that Musk built his factory in San Francisco, and conservative America would like nothing better than… Read more »
Switzerland uses a variant of this system. Income tax rates are lower but income is inflated by the deemed rental value of property you own before applying the lower tax rates. Accordingly there is very little dereliction of property. Plus property renovations are deductible in full against the deemed rental value.
Well, there you go….the solution to everything…..yet another tax.
I suppose it would be too much to ask the people running the racket that is the Irish institutional state to be more careful with public funds. How much is Ray Darcy paid by the state’s propaganda organ to talk gibberish ?
We need less tax, and better performance for what is already provided.
The institutional state is infected with an illusion of it’s own necessity, that conveniently forgets it’s parasitic position with the population as a whole.
It looks like we have been pumped with “False News” for fortnight concerning a “chemical attack” in Syria. And the Chemical was….probably…..carbon monoxide, and dust. Long before the term “fake news” was invented……the term “weapons of mass deception” was in use. Once again full credit to Robert Fisk for investigation. https://www.independent.co.uk/voices/syria-chemical-attack-gas-douma-robert-fisk-ghouta-damascus-a8307726.html This might result in the resignation of Theresa May. And possibly another UK General election, before Brexit gets any further. Where are the DUP on the matter of Theresa May launching military strikes first and finding out the evidence afterwards ? This is not merely breaching Parlaimentary rights, but… Read more »
It is just another capital gains tax!! Income tax is a creation caused by the central bankers. It is needed to pay the interest on the national debt. Note the correlation between income taxes and the formation of the debt based money system. Currently named “fiat currency”. The fastest, fairest way to be rid of income tax it to close the central banking system. Replace currency production by central bankers and commercial fractional reserve banking and the accumulating debt spiral is eliminated. Having treasury issue the national currency will made it issued free. Because it will be issued by treasury,… Read more »
Land value tax seems like a great idea, the only problem I could imagine is that ghettoised neighbourhoods could become more common, where do people receiving social welfare live assuming they can’t afford the tax? With some good planning this could be overcome and lead to an infinitely more progressive taxation system. This would be a real solution to the housing crisis in Ireland and a perfect choice if the government truly wanted to fix the problem. However, it’s clear that the government is happy with this level of inflation. If I owed 198 billion, and had the tools to… Read more »
What on earth is a ‘fresh skin fade?
Regarding shopping centres in the middle of nowhere I remember being at one such in the middle of County Kildare last summer. Would have to look up the name but it was pretty big and packed. Mostly outdoor faux cobblestone kind of a place.
WARNING ; More than minumum Intelligence Quotient [ IQ ] needed for really understanding the main purpose of Income Tax, & most of the other Tributes u pay the Government Main purpose of Tax by the Government on the Citizens of the country is to manipulate u into a void [ for want of more inspired term ] HERE BE THE SCHEMATIC GUYS [ incl. CHICKS ] 8-) ; Income Tax –> Non-Money Currency [ “Textile” Paper or “Plastic” Paper ; Mere Digital Entries invented from “Thin Air” & simultaneously entered into Ledgers as 1_”Loans to be paid with Interest”… Read more »
HOW VERY TIMELY ? 8-) HEADING ; THE ROTHSCHILD CABAL – NAZIS, COMMUNISTS Photo Caption ; A Rothschild and a Rockefeller. Tuesday, 17 April 2018 INTRO ; There is a belief that certain billionaire capitalists started the two World Wars in order to weaken certain rival powers and strengthen their own Empire. In December 1942, Heinrich Mueller, Chief of the Gestapo, uncovered the names of the British members of a Cabal who were said to be spies and informants for some sort of Kosher Nostra or Deep State. This Cabal is said to have controlled both the German Nazis and… Read more »
TRUTH ! But, it was correct to vote for Trump because : there were certain worthy parts of the Manifesto that u were really voting for there was hope that Trump would at least delay enacting the evil that Hillary Clintion, & Bernie Sanders, would immediately inflict on Levant, & Sahara, & _ _ _ Iran Alas, Trump only delayed /////////////////////////////////////////////// With Official Full-Scale WW 3 just around the corner, better to have reformed Irish State whereby every Homestead-rearing departed Citizen automatically is given from Public Property physically transportable Optimum Nominal 3-D Space as there Private Property home to locate… Read more »
Hillary envies the rise of rival as the new it for “Huma Abedin” Market
https://pbs.twimg.com/card_img/986314936774201345/dA5Y-szs?format=jpg&name=600×314
Henry Makow
?@HenryMakow
TWEET ;
Looks like Huma may have dumped Hillary for a younger woman.
//////////////////////////////////////////////////////////
https://twitter.com/HenryMakow/status/986386805850243073
Yeah, but instead of taxing the citizens on Land of Ire, how about super-organising our Irish-Americans to send us the funds a la this from respectable The Forward publication from Israel no less ? Who knows, then we may get even more arrogant & greedy than we are now such that we pogrom the Scotties out of North East of Ireland where hitherto the Irish Elite-despised Irish Nationalists were only concerned with unification of the country + freedom to do good for all, & thereon wage war by deception — including of course “by proxy” using international mercenaries raping boys… Read more »
Conclusion
“The US is involved in overthrowing the Assad regime in Syria in order to gain oil resources, keep the US dollar afloat, cripple the Russian economy, and to fight for Israel’s interests. Bankers, multinational oil companies and military contractors are the beneficiaries of the war that has killed half a million people.”
https://needtoknow.news/2018/04/high-stakes-war-syria-may-explode-worldwide/
Of course, the intellectually posh parts of Dublin — simultaneously the “local currency” rich, &/or “overseas assets” rich, parts of Dublin — despise Assad & Christian Semites & Muslim Semites & Rights for Pre-born Baby & Infant Baby to “Life” & “Live” as much as they “really” but, skillfully deceive themselves & others that they don’t do so, despise the poor of Dublin ; Thus, politically-correct Amnesty International in Irish State are not ur Friend when u wish to pursue justice against the Garda-Landlords / Landlord-Gardai if u are from the likes of Phibsboro, or any other lower class area… Read more »
Done / Leery of having Credibility ? Then trust them to “chose” & “be chosen” ; And, according to reports, Trump would suggest to underage pregnant mother ; “Ahh, go have an abortion.” So, no surprise that Trump has blood on his hands now as Politician ; Ditto Hillary — ex Huma Abedin { Now with Ms. Sienna Miller ; See above ] — Clinton Ditto Bernie Sanders ; Ref. Sanders’s voting record ALTHOUGH _ _ _ ALTHOUGH _ _ _ ALTHOUGH Sandlers was notable objector to recent slaughter by Israel of Palestinians where Israel used Bullets & Chemicals AND,… Read more »
Aanirfan.blogspot should do a proper expose of the filthy cosy shop which is “Do as thou Will ; That is the Law” [ Ref. Alleister Crowley ; City of London “Spy”, Homosexual Rapist & Murderer of Boys, Satanist, Master Freemason ; Icon for much of Rock & Roll Fraternity ] Modern Irish State ; That is why u have indifference & exploitation of Housing Crisis. Clearly ; Fear-Rod-Karma + Toin-ash-teh Coveney does not care about homeless + roofless male youths so as to save them from being vulnerable. Gaeilge skills needed for above puns The situation is getting worse by… Read more »
David writes: “The value of the Dundrum site is the people and businesses located nearby, the M50 access, the buses, and the Luas.” So very true. This is why I think that long-term, idiotically high prices of rents are unsustainable – at the end of the day, rent prices are related to profits and profits are related to tenants’ incomes and in Ireland, incomes have risen only by 5% in time when rents have risen 50% – which is why you now see those “walk-in interview” adds on Dublin shops because who da fuck can afford to work in a… Read more »
thought of the day
“If you will not fight for the right when you can easily win without bloodshed, if you will not fight when your victory will be sure and not too costly, you may come to the moment when you will have to fight with all the odds against you and only a small chance of survival. There may even be a worse case: you may have to fight when there is no hope of victory, because it is better to perish than to live as slaves.” …. Winston Churchill
Stealing the thunder from : the Politicos Especially : Politicians Quango-Administrators “Corporate Ireland” Spivs Blood-sucking Professions Pseudo-Academics Banksters the Civil SERPENTS _ _ _ _ _ _ Wednesday 18 April 2018 ‘People are getting in touch from everywhere’ – How these €45k garden pods could solve the housing crisis Pod construction business receiving queries from ex-pats, students, young couples starting out and even older people wishing to down-size The company also builds smaller pods which can be used for offices or garden rooms The company also builds smaller pods which can be used for offices or garden rooms By Louise… Read more »
Iran goes to the Euro from the USD.
https://www.reuters.com/article/us-iran-currency-euro/iran-switches-from-dollar-to-euro-for-official-reporting-currency-idUSKBN1HP25W
We all like to live in a Yellow Submarine if it brings us away from the land of the “coarse & vulgar people” [ Ref. German Ambassador’s lament as to how Irish nation have in the main become Jerks ] to a continuing Catholic country
Re ;
Submarine
that
brought
Bankster sponsored Leader of Germany
–
CUM
–
Placed “City of London” Agent gone-rogue
to
South America
//////////////////////////
https://t.co/F36VhH3IaJ
Draining the swamp is commencing.
http://www.foxnews.com/politics/2018/04/18/gop-reps-refer-comey-clinton-mccabe-for-criminal-investigation.html
I think David has been uncannily accurate in his lifestyle characterisations as I have extended family who could easily fit those descriptions. But the central issue is taxation. If taxes are to be raised from taxpayers what services are they to receive in return? What useful purpose is served by that taxation? The introduction of virtually all taxation eventually increases by stealth over time. Irish Citizens saw that danger with the water tax issue and realised that this stealth tax was being raised to fund a private monopoly when they were already funding this service through their income taxes. I’ve… Read more »
Site Value Tax.
Another TAX is always the answer isn’t it.
FOR THE UNAQUAINTED ;
https://en.wikipedia.org/wiki/Phibsborough
David be right not to invest his hard globetrotting earned $$$’s, from Keynsian-Private Central Banking inspired Economics talks, into Real Property in Irish State ;
Dublin ;
1 of Europe’s worst centers for heroin addiction
By
David Winder,
Staff writer of The Christian Science Monitor
March 27, 1985
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>…
https://www.csmonitor.com/1985/0327/opush.html
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
ABOVE REPORT IS FROM 1985
AND, THE NARCO PROBLEMS IN DUBLIN, & NOW REST OF IRELAND, ARE MUCH WORSE NOW.
//////////////////////////////////////////////////////////////////
Google-Mshd Results for String ;
Phibsboro AND heroin
SORRY PLEASE TRY URSELVES
I HAVING TROUBLE WITH MY BROWSER
Info that virtually no newspaper in Europe published (surprising, considering how much space some of them devoted to that topic, not least via their Irish correspondents writing on Poland from Berlin)
https://www.israelnationalnews.com/News/News.aspx/244375
Re: Truthist
Yes, but there was no mention in your reply of the US rebuking Israel for starting a diplomatic war with Poland. The reply button traditionally doesn’t work – is it really so difficult to fix this, considering that I’m not the only one experiencing difficulties with the Reply button?
Mono-Envy in David’s socially-engineered Multi-Ireland ; The Descent of Phibsboro as the new “Crack-Cocaine” Manufacturing Zone And, not forgetting that pushing & dealing parts of distro. stage, later, is facilitated by ordinary Garda-Landlords / Landlord-Gardai — AS A FORCE — being “on the take” from the Narcos for “turning blind-eye” to it in the non-exclusively rich areas. TRUTHIST IS STILL HOPEFUL THAT THE DRUG-SQUAD ARE NOT CORRUPT ; At least, not as corrupt as their other colleagues. /////////////////////////////////////////////////// The following is from 2005 ; And, the situation is worse now. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> HEADING ; Nine held in €1.2m seizure of cocaine… Read more »
Apologies but I’m going to repeat myself.
Another tax is always the answer isn’t it?
But what if an existing tax of equivalent “value” were abolished or reduced.
eg a reduction in the vat rate on house construction.
So David please, next time you suggest a new tax, suggest a relevant tax reduction.
The CSs won’t love you for it, they’re too busy looking for tax increases to pay for their new terms and conditions.
Some hope for the real underclass [ Pre-born Babies, & Infant Babies ] what with refusal by Christian to pay taxes is vindicated with 1st big win in Court >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>….. By Calvin Freiburger HEADING ; US Christian who refuses to pay taxes until abortion is defunded has first big win in court COLUMBIA CITY, Oregon, April 18, 2018 (LifeSiteNews) Like 60% of Americans, Michael Bowman opposes taxpayer funding of abortion. Unlike most Americans, he is currently squaring off against the Internal Revenue Service to avoid doing so. Bowman is a 53-year-old Christian and contract engineer in Columbia City, Oregon. He… Read more »
I, Truthist, disagree with the right-honorable Prime Minister below ; I contend ; They WILL NOT BE a Super-Power Rather, they are ALWAYS THE ONLY Super-Power >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>.. HEADING ; We’re turning Israel into a rising world power”- Netanyahu. Well duh APHORISM ; Ridding the world of antisemitism. INTRO ; Prime Minister Benjamin Netanyahu, in a fiery address at a torch-lighting ceremony marking Israel’s 70th Independence Day, declared that the Jewish state is becoming a “world power” and said its light will overcome its enemies’ “darkness.” “We’re turning Israel into a rising world power,” Netanyahu said at Mount Herzl in Jerusalem… Read more »
@ Grzegorz, I’ve perused some of Peter Hitchens’s articles bearing ur replies. Yes, Hitchens is a bright fellow. But, to a naturally political Irish person — not a “political animal” mind ewe — I can read him like a book. So, that ewe report finally getting concession from him here & there for to overturn some such views that malign Poland in some crucial way but for he soon enough with later article & / or reply by himself to return to being sinner against Poland ; Well, that is no surprise to a real Irish man. Yet, for all… Read more »
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
AGENDA OF 9/11 IS RESPONSIBLE FOR HOUSING CRISIS
THAT IS NO “PHIB” !
AND, ARE U INTELLECTUALLY HONEST TO ACCEDE TO THE TRUTH ABOUT 9/11 ? 9/11 sure was NOT planned, or done, in any shape or form whatsoever by : men who live in caves of Afghanistan [ incl. Osama Bin Laden ] Saudi Arabian patsies [ incl. Osama Bin Laden ] ; Regardless of what co-opted House of Saud socalled “admit” 9/11 WAS AN “INSIDE-OUTSIDE” JOB AND, EWE KNOW WHO D_I_D I_T ! And, we are forced to endure the hassle & expense of the Orwellian Police State that ensued as a result. Of course millions of innocent Arabs & Afghan… Read more »
@ Grzegorz, THE Dun Laoghaire Effect affecting Poland ? ?itok=Kgw–J2I HEADING ; Poland’s Repopulation Problem 04/20/2018 Via GEFIRA, INTRO ; Europe’s native population is not just aging, it is disappearing. The political and financial establishments rely on false official projections. Despite the UN Population Division prognoses that fertility rates will soon rebound to replacement rates, such a phenomenon is nowhere to be seen. In all European countries native populations have extremely low fertility and they are in full decline, and there are no signs that this will change anytime soon. Whatever official statisticians try to make you believe, an increase… Read more »
Small but significant: Engineering is incremental and amongst all the shenanigans the UK’s first self-driving mainline train has made its maiden journey across London mostly unnoticed. Automation will make it possible to run 24 trains an hour on the Thameslink core section – click goes the ratchet. All the world’s self appointed elites are feeling the ground shift beneath their feet and their fear is palpable: technology is handing power to the small battalions – for good or for evil. I feel that there is a future of great instability which will be very violent before things settle down. I… Read more »
Encourage the build of 300k affordable private houses and also build social housing on public land or special social housing rezoned agri land with money rather than debt options for local councils. Alan Kelly said – The money is there, the money is there. But the money is not there. Never was. No social housing is being built. 20 houses in Galway at the moment. Debt options for housing agencies are there. What is the real cost of providing a 300,000e house through a housing agency ? Dublin. 12.5 acres of agri land costs 175,000e. 14,000e/ acre. 12.5 acres zoned… Read more »
David, find a way to flush out the lunatics from the comments section?
You want to fuck with Wales:
https://www.youtube.com/wat…
https://mail.google.com/mail/u/0/#inbox/162e4878c9b5520f
If you can’t win a rigged election that you rigged in your favour, then sue the party that won. Pathetic.
Comey, McCabe, Mueller, Clinton are all under request for criminal investigation by congressional committees.
http://www.foxnews.com/politics/2018/04/18/gop-reps-refer-comey-clinton-mccabe-for-criminal-investigation.html
Speaking of Phibsboro:
https://www.youtube.com/watch?v=Cr7MRkX4log
When discussing land options and graduate refugees earning joint incomes of 80,000e … then providing conditions to supply 300k houses is more beneficial than lots of more taxes. The starting point for providing 300k houses is to make sure that the unit site costs dont exceed 40k. It is very fragile /political economics that could deny that basic logic. In a low interest snapshot of time, we also need to discuss the cheapest method of providing social housing with very cheap 30 yr debt. It is the right time to start the process that ensures that ALL pensions of 2060… Read more »
THIS ACCURATELY DESCRIBES THE IRISH STATE’S DEPARTMENTS OF “INEFFECTIVE GESTURES” — Nay ! Rather “SABOTAGING ACTIONS” — AS MENTIONED BY TRUTHIST ALREADY IN THIS DISCUSSION WITH REPLY TO Mike Flannelly
Please see fresh Post below
Follow-up to Graphic about Irish State Departments of : Ineffective Gestures Sabotage e.g.s Department of Social Welfare ; Generic international name for whatever “musical chairs” name Irish State mischievously names it every few years Department of Employment Generic international name for whatever “musical chairs” name Irish State mischievously names it every few years Department of Housing Generic international name for whatever “musical chairs” name Irish State is likely to mischievously name it every few years Department of Health Generic international name for whatever “musical chairs” name Irish State mischievously names it every few years Department of Agriculture e.g. Veterinary TB… Read more »
If only we had a Leader such as he ;
Instead, our State-Crafters go cruising to the Dail Bar to pick up crass pretenders.