Feel free to explain the hand-waving vague "linked in some manner" and what relevance it has.
You might as well say "Your IT job is linked in some manner to the high price of Dublin escorts".
You seem to not understand the difference between "unable to" and "want to". I myself could have stretched to paying a considerable mortgage. However, when looking at historical trends in house prices, it seemed insane. I was right. And those who were wrong now want me to bail them out.
As has been discussed in the media at length by nearly every economist the Irish property industry and the subsequent vast amounts of tax money generated by it for the governement allowed them to put alot of it back into the IDA to gain jobs via foreign investment programmes ad incentives
I simply dont understand your point in the context of this discussion. Just because you didnt want to or were unable to purchase a property does not give you or anyone else the right to request that second home owners bail out the country. How have you bailed them out? I own a second home and you certianly will not be bailing me out in any way.
the move to the Euro and many other reasons have made "hostorical trends" redundant
I've seen some rewrites of history, but never someone claiming that it was the Irish property industry that created the boom in the first place. So all those Canny McSavvys and developers who were merely moving money from the younger generation to the older generation were actually selflessly _generating_ wealth? Companies like Iona, founded in 1991, well before any property bubble, and Dell which came to Ireland in 1990, depended on a property bubble that came several years later?
I think you may have your cart and horse (house?) mixed up.
Oh, and please quote these economists you base your arguments on, just to see how right these economists were.
If you are not someone who wants mortgage forgiveness, then fine, at least you're being consistent.
Ireland is a new paradigm.
We are not like other countries.
Yes, indeed, I remember all those mantras. It's rather strange to meet someone who still believes them; like stumbling across a WW2 Japanese
soldier on Bull Island.
I think you may be exaggerating a bit here.
If that happened i know a lot of people who could buy them outright for cash from their savings.
And if they even had half of that saved then they could pay the rest back to the bank for about €55 a week over 25 years.
Or even if someone borrowed the whole lot, it would cost them about €125 a week.
The dole would be enough pay for that. Imagine 3 people on the dole taking a room each and sharing that mortgage. What a life.
HOWEVER! I expect the government to reel in its own spending first and foremost by implementing immediate pay cuts across the public sector and followed up by a detailed analysis of who does what with redundancies for wasters being the norm. The 'job for life' mentality must be a thing of the past. Everyone must take their part of the pain so our country may recover.
Why the public sector?
Did the public sector force the prices of properties to ridiculous heights as its employees attempted to get richer at the expense of first time buyeres?
No.
It was private sector individuals,consortiums and other vested interests that were quite happy to inflate the housing markets to suit thier own selfish ends.
When times were good the public sector got pay rises in line with inflation,now times are bad the greedy leeches respinsible for this mess want them hit in the pocket to defray thier own costs.
Typical.
I think you may be exaggerating a bit here.
If that happened i know a lot of people who could buy them outright for cash from their savings. Even if its impossible to rent them and there is a tax of, say,€1000 +stamp duty and legal fees etc.?
And if they even had half of that saved then they could pay the rest back to the bank for about €55 a week over 25 years. What bank can spare money for speculators at the moment, thats what got us in trouble in the first place
Or even if someone borrowed the whole lot, it would cost them about €125 a week. are banks giving out 100% mortgages for BTL again?
The dole would be enough pay for that. Imagine 3 people on the dole taking a room each and sharing that mortgage. What a life.Soon there will be 500000 people on the dole, there is no way the government will be able to hand out €200+ per week to that many people, the dole will be slashed bit by bit
100K in Dublin is a bit Ambitious but €150K for a 3 bed semi in a reasonable area outside the M50 is not far away, I'd say we will see that before the year is out.
Of course we will have another decrease this year in prices, but I dont think you will see a decrease by over 50%! Do you really think so?
Why not - because "Ireland is different"?
I would rule nothing out at this atage. The real capitulation, when banks start offloading en masse is not far off now.
100K in Dublin is a bit Ambitious but €150K for a 3 bed semi in a reasonable area outside the M50 is not far away, I'd say we will see that before the year is out.
Are you being serious when you say €150K for a 3 bed semi in a reasonable area outside the M50 is not far away.
The market sets the price not you or me. There are no buyers, there are many, many sellers.
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