I'll have popcorn at the ready!I will be discussing it with David Hall on Newstalk Breakfast at 7.20 on Monday morning
Nice picture BB. Did you delete the thread I started on this? If yes, I'd like my original first post if you have it please.I will be discussing it with David Hall on Newstalk Breakfast at 7.20 on Monday morning.
This was split from a different thread: https://www.askaboutmoney.com/threads/david-hall-claiming-credit-for-stopping-an-eviction.211134/Did you delete the thread I started on this
I presume he will use the cost of putting people up in hotels at several thousand euro per month as there's no other accommodation availableI see Hall in the article says his scheme saves the tax payer money. Do you know on what basis he is claiming that?
So the state pays the following:
1. 30% of purchase price (Balance funded by AIB loan)
2. State pays full rent to icare, forever
3. If the tenant doesn't pay the low amount of rent to the LA it just goes onto the amount that is constantly outstanding
4. State pays for all repairs
5. State is exempt from RTB
What does iCare get:
1. 19 properties, with another 600 to come on stream (second biggest landlord in the country)
2. Full rent
3. No property costs
4. Can sell the properties in time at a profit
5. Do they pay rental income tax? Does being a charity affect this?
6. Doesn't have to deal with the tenancy as that's up to the LA
7. No oversight by the RTB as they are not the landlord
8. Employment forever running iCare.
What does the property owner get:
1. They lose their house
2. They can live in it for a minimum amount
3. They are allowed purchase it for the price iCare paid for it
What does the bank get:
1. They get rid of their most problematic cases
2. No bad publicity for evicting families
3. Their books look better
What does the media get:
1. A lovely happy story, bad bank, good guy Hall, family stays in home.
Where can all this go wrong taxpayers?
I fully believe that there are a large number of straregic defaulters, but I wouldn't use the fact that people aren't eligible for MTR as evidence of that.Of course many people will swear blind that strategic default does not exist in Ireland
Well that’s actually a good argument. Hall is stopping people going into hotels at massive cost.I presume he will use the cost of putting people up in hotels at several thousand euro per month as there's no other accommodation available
Except the fact that not everyone that becomes homeless needs to be put into accomm in Dublin again. If they don't have a job etc, they should look to outside counties with cheaper housing.Well that’s actually a good argument. Hall is stopping people going into hotels at massive cost.
Nope.Is 7.15am to early for popcorn??"
I'll have popcorn at the ready!
I fully believe that there are a large number of straregic defaulters, but I wouldn't use the fact that people aren't eligible for MTR as evidence of that.
Essentially, you have to be eligible for council housing.
There are lots of people in genuine difficulty who simply do not meet the criteria.
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