I cannot believe after the previous bubble, after all the people that over stretched before, with the current bubble, that any sane person in Government could possible come up with another hair brained schemd to inflate a worsening situation in Dublin.
Even Karl Deeter, who posts on here occassionally and who is in the mortgage business, and would benefit from this, has come out strongly against the scheme on ethical ground, for which I admire him. No doubt he has many clients ruing the day they every purchased.
http://www.independent.ie/opinion/analysis/this-country-is-one-big-gamble-on-rising-property-prices-30272274.html
Truly Minister Noonan is a shocking disgrace
http://www.irishtimes.com/business/economy/noonan-dismisses-fears-of-housing-bubble-1.1793791
So my advice to first time buyers is not to head this help. 5% deposit might seem like a great idea, but it is not. It means you borrow more, borrowing more is not a good thing. It means that proeprty costs more, because people can borrow more. Dublin is already overheating, this will only make it worse.
Any of the other AAM's have an opinion or Burgess? (I don't think I mentioned house prices other than within the rules, if I did please delete)
Even Karl Deeter, who posts on here occassionally and who is in the mortgage business, and would benefit from this, has come out strongly against the scheme on ethical ground, for which I admire him. No doubt he has many clients ruing the day they every purchased.
http://www.independent.ie/opinion/analysis/this-country-is-one-big-gamble-on-rising-property-prices-30272274.html
Truly Minister Noonan is a shocking disgrace
http://www.irishtimes.com/business/economy/noonan-dismisses-fears-of-housing-bubble-1.1793791
So my advice to first time buyers is not to head this help. 5% deposit might seem like a great idea, but it is not. It means you borrow more, borrowing more is not a good thing. It means that proeprty costs more, because people can borrow more. Dublin is already overheating, this will only make it worse.
Any of the other AAM's have an opinion or Burgess? (I don't think I mentioned house prices other than within the rules, if I did please delete)