100% Mortgage

Thanks for the obs!

Of course my sister is adult enough to make her own decisions, but she doesn't have much interest in finance or economic matters and I am trying to look out for her as all older siblings try to. However, she will make up her own mind on the matter and I'm sure it'll work out for the best whatever way they go.
 
Do a logarithmic chart of those figures - that chart as is is nigh on useless for making any meaningful conclusions.
They basically doubled between 70 -76, 76-80, and 99-05, so whats the big deal!

A comparion or interest rates, dual income homeowners, prevailing wages etc etc flattens the chart also remarkably.

Plus, despite all this, your average punter has more disposable income than ever.
 
Well, borrow my time machine, go back to the 80's, try buy a house then, then pop back to now, try again, and see which one was easier, given the prevailing incomes, interest rates home prices etc...

I know some of you guys must be salivating at the prospect of the country falling apart (and god knows ye must have state jobs to feel that way) but I'm afraid ye'll be disappointed.
 
It's not a good situation to be in trying to counter rationalise a trend moving against you.

You may as well stand out beyond a beach and plead with the tide not to go out.

Just make sure you remember your swimming trunks ;)
 
cancan said:
Well, borrow my time machine, go back to the 80's, try buy a house then, then pop back to now, try again, and see which one was easier, given the prevailing incomes, interest rates home prices etc...

I know some of you guys must be salivating at the prospect of the country falling apart (and god knows ye must have state jobs to feel that way) but I'm afraid ye'll be disappointed.
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I don't think you can really compare the eighties to now, things were so much more bleaker back then. We didn't have the many support services that are now in place such as MABS, availability of credit union loans, good social welfare system,education and training initiatives, more awareness around financial issues and no AAM and even internet access was unheard of.
I refuse to believe that we are heading for the awful poverty or mass emigration on the scale that was witnessed during those awful bleak times. I don't think the youngsters of today will never truely understand just how bad things were in Ireland during that era.
 
Remix said:
It's not a good situation to be in trying to counter rationalise a trend moving against you.

You may as well stand out beyond a beach and plead with the tide not to go out.

Just make sure you remember your swimming trunks ;)
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Be careful you don't fall off that bandwagon there.
 
eileen alana said:
I don't think you can really compare the eighties to now, things were so much more bleaker back then. We didn't have the many support services that are now in place such as MABS, availability of credit union loans, good social welfare system,education and training initiatives, more awareness around financial issues and no AAM and even internet access was unheard of.
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Eileen, are you sure people are more aware of financial issues? Do you really think the solution to finanacial difficulties and personal debt is more debt courtesy of credit unions? Assuming of course the credit unions even have the money to lend. Remind me where they get their funds from again?

The level of financial ignorance in Ireland (and in most countries to be fair) is quite astonishing.
 
Your right, even on the largest transactions you would be surprised at how little people pay heed to exactly whats going on. Recently called a few clients to ask had they signed contracts on their houses and they said they signed something, they weren't sure what it was so I had to call their solicitors to enlighten me. You would think that if you had tied yourself into paying back a few hundred grand you'd know about it.

Mo Sizlak said:
Eileen, are you sure people are more aware of financial issues? Do you really think the solution to finanacial difficulties and personal debt is more debt courtesy of credit unions? Assuming of course the credit unions even have the money to lend. Remind me where they get their funds from again?

The level of financial ignorance in Ireland (and in most countries to be fair) is quite astonishing.
Click to expand...
 
I think the main factor to consider - they are renting right now so they are paying someone else's mortgage! would you rather see them 'helping through the rought times' to their landlord or at least have something they can call home?

it is a buyers market and your sister can get a really good bargan now, possibly something they would not be able to aford 6mnth ago.

100% mortgage- ok, they've been approved for 365K. Now you can get 80% at most which means they would have to come up with 75K of their own moeny form somewhere. Do you think they would be able to save?

Unemployment and emigration is mainly due to all polish leaving the country- irish were long settled in Boston/ Marbella etr. the 80's boom is propaganda to get us to vote YES to Lisbon.
 
how can unemployment be due to people leaving the country? if they're not here they can't sign on!
 
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