Noonan wants mortgage caps relaxed for FTB's

Delboy

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Sad country we live in that only 8 months after the new mortgage rules come in, only 2 months after the 6 mortgage pre-approval wndow expired...and here we are with Noonan announcing it's time to change the rules, 1 day after meeting Tom Parlon of the Builders lobby group.
He even referenced Parlon in his interview with the IT.
http://www.irishtimes.com/business/economy/noonan-wants-review-of-first-time-mortgage-cap-1.2355909

Sickening, sickening stuff....only Renua seem to have come out against it. Varadkar is making noises too but Noonan will pull rank on him.
New CB chief in the coming weeks so Noonan was clearly setting out his message for the new boss to take on board.

We need cheaper house prices, not more credit.
Caps on the price of development land- the Kenny report from the 70's!!!
High levies on those hoarding development land
Reduced VAT on new builds...36% of the price of a new house goes back to the Govt
Speeding up of the planning process

Well done earlier on Today FM, Brendan. Took Thomas Byrne of FF apart...Hugh Linehan was 'on message' with you also.
Put your points across very well. Byrne was clearly not up to speed on this subject or that of the funding for social housing either.
 
I think (and hope!) that Noonan stuff is just electioneering guff, something to be quoted to someone that wants a change. I'll be a FTB one day and I think they're quite sensible.
What Today FM show was BB on?
 
I heard someone recently saying that the state should bundle social housing projects into projects worth over €5 million so that the tender has to be offered EU wide. We could then use a mainland European company to manufacture prefabricated houses and just assemble then on site here. That’s the way most houses are built in the rest of Western Europe.

Then Tom Parlon and the rest of the construction industry might realise that they are part of the problem, maybe the biggest part, and they have to do what every other industry does; get more efficient and modernise to take cost out. I am firmly of the opinion that we don’t have enough unemployed builders in this country. As an industry they have learned nothing and so deserve nothing.


All reductions in tax and charges and screwing around with utterly sensible mortgage rules will do is subsidise the inefficient construction industry. Nothing should change until they have demonstrated that they have taken at least 25% out of their own costs.
 
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