No indeed. It is the party that in Govt, emasculated local authorities and concentrated power in county managers that I hold responsible. It is the party that appointed the members of An Bord Pleaneala that I hold responsible.A party (FF) who got 30% in the last locals - were not responsible for the carzy re-zonings that went on.
House Prices have further to fall. That has been obvious for years. Affer the property frenzy - it was obvious they were going to fall.
A party (FF) who got 30% in the last locals - were not responsible for the carzy re-zonings that went on.
Local Authorities are made up by many auctioneers - voted for by the electorate.
The same electorate bought houses in Ireland and across the Eu At inflated prices.
They went into banks getting massive loans to buy crap houses in crap locations.
Yet blame the government.
In spite of only getting 30% vote in the last locals, FF are still in power on many councils as part of coalitions e.g. Dublin City Council where the Mayor is from FF.
Until Irish People face up to their responsibilities (instead of blaming FF for EVERYTHING) we will always be a nation of moaners looking to offset responsibility instead of standing up and being counted for.
People were happy to buy houses at the top of the market. They bought summer dwellings out in Spain. They bought new TVs, Cars etc. They borrowed, borrowed and borrowed.
...and what about those who didn't?
...and what about those who didn't?
People were happy to buy houses at the top of the market. They bought summer dwellings out in Spain. They bought new TVs, Cars etc. They borrowed, borrowed and borrowed.
No-one was 'happy' to buy at the top of the market.
FF did everything they could to talk up and prop up the market
Perhaps they were influenced by Bertie's suggestion that anyone suggesting that the economy would drop should go kill themselves?No, they tought the frenzy would never stop.
Because they had little choice to do so, other than staying out of the market and risking their chance of EVER owning a property here.Property supplements, RTE, Banks - People borrowed money from parents and banks. Now they are in negative equity.
No one including government expected the end of this bubble.
People overpaid for crap houses in crap locations.
Just to be clear, do you reckon FF bear any touch of responsibility for our current economic woes.More FF bashing??
Here's just one;What statements statements did Cowen make talking up the market?
Yet another FF subsidy designed to keep prices high.I want to take a little time to review where we are now in regard to first-time buyers. In my last Budget, I indicated that it was the Government’s aim to help first-time buyers directly and substantially, including those who were already paying their first mortgages. I did this by increasing mortgage interest relief for first-time buyers from €4,000 single and €8,000 married or widowed per year, to €8,000 and €16,000 respectively. This measure helped first-time buyers who were already in their first home, as well as brand new first-time buyers.
No-one was 'happy' to buy at the top of the market. Remember we had Bertie telling anyone who suggested that the market might drop to go and kill themselves. FF did everything they could to talk up and prop up the market, and of course it inevitably failed. Many of those who bought were not buying holiday homes and flat screen TVs - they were just trying to buy a home for their family within a reasonable commuting distance of their workplace.
Yet another FF subsidy designed to keep prices high.
At what stage do you take responsibility of your actions . . .
NorthDrum;874632People wanted to be told to spend[/quote said:No-one 'wanted' to spend or be told to spend. People had little choice but to pay the market price at the time, or risk being priced out of the market forever. I don't know anyone who bought property on an extravagant whim. They were generally just trying to provide a home for their family.
Fair point. It is similar to the Eircom shares in the late 90's
Fair point. It is similar to the Eircom shares in the late 90's. Many people bought into these thinking it was easy money but made a loss.
I remember one of my former colleagues blaming the government of the day because of the advertisement campaign they ran, which influenced many people to buy shares.
Are you omitting any key parties from your list of those responsible? Hint: who provided the legislation and public policy that consistently subsidised the property industry for the past 15 years.The housing bubble was pushed by banks, developers and the regulator.
What is to blame the government for on the Eircom shares? They sold the company for a lot more than it was actually worth thus getting more money for the taxpayer. This should be commended - its not often that the government achieves such value for money.
There is a big difference between making an investment decision and buying a home.I was just making the comparison between people that bought into the Eircom shares and people that bought houses at the height of the boom. In both cases, the potential downside was rarely considered.
When the share price went down some of the people I worked with blamed the government because of the campaign they ran, which may have suggested it was a no lose situation. However as a previous poster said about buying houses, personal responsibility msut come into it.