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House Scrappage Scheme?

seabhcan

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Sep 3, 2007
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14,228
The IT has a letter today:
A novel type of scrappage scheme

Madam, – The country is awash with poor quality and dilapidated housing (Editorial, october 27th), and indeed poor quality commercial space too. The paradox is that we are drowning in brand new and empty housing and commercial space. We also are in need of kick- starting the construction industry and the housing market to avoid Nama-geddon.

We have a car scrappage scheme which aims take dilapidated cars off the road and help that industry. Why not a house scrappage scheme? The Government could offer reduced stamp duty on new purchases when a dilapidated or abandoned building is demolished or extensively refurbished. Such a scheme would cost the taxpayer little, create construction jobs and clean up our cities and housing stock. – Yours, etc
Sounds like a good idea. Any objections?
 


EvotingMachine0197

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The letter is far too simplistic to comment on.

If a house is finished and really only needs a clean and some painting then it could be rented out by NAMA with maybe an option to buy in three years or whatever.

Anything less than finished is doomed. I've seen the damage already done to incomplete houses around here by weather alone.
 

TonyBird

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Jun 24, 2010
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2,236
The IT has a letter today:


Sounds like a good idea. Any objections?
Yes . I object to where the lady says " help that industry. ".
Im all for sorting out housing and demolishing partial builds but I most certainly dont want to "help that industry."
Yes thank you madam , we are done with property pyramid scams , thanks but no thanks .
 

Ah Well

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far too simplistic
That's about it in a nutshell

Plus couple onto that (if it were proceeding) actual administration of any such scheme by what we now have loosely termed as a Government and that would most certainly kill it off in any event
 

Old Mr Grouser

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The letter is far too simplistic to comment on.

If a house is finished and really only needs a clean and some painting then it could be rented out by NAMA with maybe an option to buy in three years or whatever. ...
But aren't you being a little simplistic yourself, EM?

If Anglo had gone bust in 2008 then its its big international creditors would have made just such arrangements in order to minimise their losses. But NAMA a part of the rigmarole that prevented it.

The housing market in England hasn't collapsed the way it did here. One reason is that the UK has a relaxed attitude to immigration and wealthy people from all over the world are buying houses there, particularly in London.

Do you know London at all? There are several suburbs with a strong Jewish presence.

There was considerable house-building during the Great Depression of the 1930s and Jews living in the London slums somehow organised themselves and came together, obtained finance and - taking advantage of the cheap price of property - bought streets of newly-built houses en-bloc and on wholesale terms.

You do have to wonder if FF were scared of something similar happening in Ireland, and preferred to see entire estates go derelict rather than risk them becoming non-Hibernian enclaves.
 

TonyBird

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But aren't you being a little simplistic yourself, EM?

If Anglo had gone bust in 2008 then its its big international creditors would have made just such arrangements in order to minimise their losses. But NAMA a part of the rigmarole that prevented it.

The housing market in England hasn't collapsed the way it did here. One reason is that the UK has a relaxed attitude to immigration and wealthy people from all over the world are buying houses there, particularly in London.

Do you know London at all? There are several suburbs with a strong Jewish presence.

There was considerable house-building during the Great Depression of the 1930s and Jews living in the London slums somehow organised themselves and came together, obtained finance and - taking advantage of the cheap price of property - bought streets of newly-built houses en-bloc and on wholesale terms.

You do have to wonder if FF were scared of something similar happening in Ireland, and preferred to see entire estates go derelict rather than risk them becoming non-Hibernian enclaves.

What are you on ? May I have some ?
 

Ah Well

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Dec 18, 2008
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1,228
But aren't you being a little simplistic yourself, EM?

If Anglo had gone bust in 2008 then its its big international creditors would have made just such arrangements in order to minimise their losses. But NAMA a part of the rigmarole that prevented it.

The housing market in England hasn't collapsed the way it did here. One reason is that the UK has a relaxed attitude to immigration and wealthy people from all over the world are buying houses there, particularly in London.

Do you know London at all? There are several suburbs with a strong Jewish presence.

There was considerable house-building during the Great Depression of the 1930s and Jews living in the London slums somehow organised themselves and came together, obtained finance and - taking advantage of the cheap price of property - bought streets of newly-built houses en-bloc and on wholesale terms.

You do have to wonder if FF were scared of something similar happening in Ireland, and preferred to see entire estates go derelict rather than risk them becoming non-Hibernian enclaves.
Whatever it is won't work anyhoo ... FF are in charge I regret to say and all turns to **** ... ample examples of that continue to unfold on an extremely regular basis ...
 

CookieMonster

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Feb 19, 2005
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33,861
Here is a solution:

Sell EVERYTHING. Have an auction and sell it all for whatever price it will fetch.
 

EvotingMachine0197

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Feb 17, 2006
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Here is a solution:

Sell EVERYTHING. Have an auction and sell it all for whatever price it will fetch.
But most of it has minus value. It is not sellable.

The pallet loads of window cills are grimey algae covered pieces of crap.

Nobody wants them.
 
Joined
Sep 10, 2008
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It should be a debt scrappage scheme.

Allow everyone to scrap their debts and then people can afford to take the cuts and hits coming down the line.
 

SideysGhost

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Nov 30, 2009
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Anything less than finished is doomed. I've seen the damage already done to incomplete houses around here by weather alone.
Like just about every issue, the Irish prefer to live in la-la-land rather than deal with reality.

Even a well-built house will be in need of serious structural repairs if left empty for years on end. These empties, well we know a good number of them have been empty since 2005 when they were first uncovered by the census, most of the others will have been empty since 2007. And most of them are not well-built.

We'll all pretend though that they are worth half a million each for another couple of years right up to the point where most of them collapse. And then "nobody could have seen this coming" :roll:
 

Nemi_

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Aug 20, 2010
Messages
252
The IT has a letter today:


Sounds like a good idea. Any objections?
I think its one of those ideas that seems good if you think about it for five seconds, but starts falling apart after ten.

Stamp duty on houses is typically 7%. So for this idea to fly, you’d need a substantial number of people to have properties so dilapidated that they are only worth 7% of their modern equivalent. In other words, if I’m interested in a new property selling for €500k, scrappage in the form of exemption from stamp duty is only attractive if I feel my present property is worth less than €35,000. Given that, as we know, the key determinant of a property’s value is its location, that’s just not going to happen.

The situation for cars is quite different, as bangers are valueless. Plus its much clearer as to what constitutes ‘scrappage’ of a car. What exactly do you have to do to your old property to deem it to be ‘scrapped’? Bearing in mind that any demolition costs are coming out of your €35,000.

I also don’t follow this bit
The Government could offer reduced stamp duty on new purchases when a dilapidated or abandoned building is demolished or extensively refurbished.
What exactly is meant to be happening where I’ve ‘extensively refurbished’ a property? I’m not clear at all about what type of scenario the writer has in mind.

Not that it matters. This is an authentic Cork-Mothers-Of-Seven stupid idea that requires no more of our attention.

(Yes I know the author is a male from Killester. But its still a Cork-Mothers-Of-Seven stupid idea)
 

cricket

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Nov 7, 2009
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People need jobs / income to buy property. That's where you start , not the other way round.
 


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