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Only 10 evictions in Dublin, in the whole of 2012.


Truth.ie

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Oct 5, 2008
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28,077
I thought we were told prices were rising in Dublin and there was a shortage of decent houses on the market.
Why aren't the banks trying to recoup some of our money they lost during the boom.
What does this revelation tell us about the economy and the housing market?
Number of evictions plummets as banks fear getting stuck with rows of empty houses - National News - Independent.ie
Why bother paying your mortgage, if those who don't get to keep their gaffs?
In Spain there are 80 evictions every DAY, yet only 10 in Dublin in one YEAR!!
Who makes this policy decision?
Surely they could start with those who have Buy to Let's and second homes and aren't making their payments.
I'm pretty sure there are more than 10 of such in Dublin.
Or is the market already flooded and they don't want us to know?
 

ruserious

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Jan 3, 2011
Messages
29,597
This is eaxactly what they want, the under classes turning on each other.
 

Feckkit

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Joined
Sep 6, 2011
Messages
5,889
I thought we were told prices were rising in Dublin and there was a shortage of decent houses on the market.
Why aren't the banks trying to recoup some of our money they lost during the boom.
What does this revelation tell us about the economy and the housing market?
Number of evictions plummets as banks fear getting stuck with rows of empty houses - National News - Independent.ie
Why bother paying your mortgage, if those who don't get to keep their gaffs?
In Spain there are 80 evictions every DAY, yet only 10 in Dublin in one YEAR!!
Who makes this policy decision?
Surely they could start with those who have Buy to Let's and second homes and aren't making their payments.
I'm pretty sure there are more than 10 of such in Dublin.
Or is the market already flooded and they don't want us to know?

Yeah, yeah. Cos more evictions is the answer to everything.
 

b.a. baracus

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Feb 3, 2009
Messages
2,230
They could at least start with Buy to Lets as you said.
 

potholedogger

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Joined
Oct 17, 2012
Messages
1,238
I thought we were told prices were rising in Dublin and there was a shortage of decent houses on the market.
Why aren't the banks trying to recoup some of our money they lost during the boom.
What does this revelation tell us about the economy and the housing market?
Number of evictions plummets as banks fear getting stuck with rows of empty houses - National News - Independent.ie
Why bother paying your mortgage, if those who don't get to keep their gaffs?
In Spain there are 80 evictions every DAY, yet only 10 in Dublin in one YEAR!!
Who makes this policy decision?
Surely they could start with those who have Buy to Let's and second homes and aren't making their payments.
I'm pretty sure there are more than 10 of such in Dublin.
Or is the market already flooded and they don't want us to know?
They don't want the orse to fall out of the morket. They will increase rates to mitigate losses on borrowers who won't pay.
 

Davidoff

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Oct 4, 2010
Messages
1,485
With its connotations of homelessness, 'eviction' is the wrong word.

When a buy-to-let property is repossessed, the living arrangements of the owner are unaffected.

Around 30% of buy-to-lets are in default on the mortgage. And in many cases rent is being paid and the landlord is simply pocketing it.

There is something profoundly dysfunctional about the lack of repossessions in Ireland.

It's hard not to suspect that the banks are still insolvent, and that repossession on any meaningful scale would force them, from an accouting perspective, to recognise losses that they cannot cover.

As is so often the case where propery matters are concerned, we have given the world yet another Irish solution to an Irish problem.
 

bonkers

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Oct 4, 2006
Messages
24,491
There are lots of investors who are trousering rents on multiple buy to regrets and not paying their mortgages at all!
If there are the banks should be hitting them hard. Have you any link for this assertion?
 

Feckkit

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Sep 6, 2011
Messages
5,889
There is something profoundly dysfunctional about the lack of repossessions in Ireland.
It doesn't make sense, to me, to apply peace-time solutions in war-time. And yes, there is a war on. If every distressed property-thing were to be repossessed in the morning, there might never be recovery to the overall economy from the damage caused.

... we have given the world yet another Irish solution to an Irish problem.
Maybe that's just what the world needs, this time.
 

Truth.ie

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Oct 5, 2008
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It doesn't make sense, to me, to apply peace-time solutions in war-time. And yes, there is a war on. If every distressed property-thing were to be repossessed in the morning, there might never be recovery to the overall economy from the damage caused.



Maybe that's just what the world needs, this time.
Nobodies saying every distressed homes should be repossesed.
If people are making an effort to pay even part of the payments, and can't pay anymore then there should be flexibility.
But, we know there are thousands of people not paying a cent for long periods of time.
Some, as alluded above, are even pocketing rent money and living abroad or with their birds.
Others are foreigners who bought in the boom and have returned to their home countries whilst they rent the house for cash in hand.
It seems to me, the real reason for the lack of repos, is not some newfound compassion, but rather about manipulating the housing market and an attempt to keep house prices artificially high.
Those people meeting their huge mortgage payments every month must be sick reading this today.
 

Truth.ie

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Oct 5, 2008
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Not to mention the 4 billion in property (north of the border) owned by Irish taxpayers, which the Govt point-blank refuses to put on the market.
 

H.R. Haldeman

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Oct 1, 2008
Messages
4,444
Lawyer bought house with €1.5m mortgage in Ranelagh in 2006.

His conveyancing business subsequently collapsed, and now he can only repay a €500,000 mortgage. It is his Principle Private Residence. It is his "family home".

And the idea is that my tax money is used to help make up the €1m shortfall between his repayments and his liability?

Is that it? Or...what?
 

Feckkit

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Sep 6, 2011
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Nobodies saying every distressed homes should be repossesed.

But that is the unqualified, general principle behind your OP - evictions should be increased.



It seems to me, the real reason for the lack of repos, is not some newfound compassion, but rather about manipulating the housing market and an attempt to keep house prices artificially high.
I agree with you on the compassion bit. But house-prices, in my 'umble opinion, are no longer artificially high in this country.

Perhaps there might be some point in assuming that prevention of a total, irreversible and final collapse of everything is in there somewhere.


Those people meeting their huge mortgage payments every month must be sick reading this today.
Those people who can manage to do that are in a very, very, very, fortunate position. Far from being 'sick' they should be very, very grateful that they are in that position. That's as far as my empathy would extend.
 

Raketemensch

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Apr 11, 2009
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3,128
But that is the unqualified, general principle behind your OP - evictions should be increased.
Perhaps 'evictions' should be changed to 'reposessions' in the OP. After all, we can be fairly sure that more than 10 people were kicked out of rented accomodation in that time for not paying the rent. But who cares about renters, right? A buy to let investor losing his investment tugs the heartstrings of the Indo reading classes far more than a poor family who can't afford to live in their private rented accomodation any more.
 

Raketemensch

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Apr 11, 2009
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'Compassion' doesn't come in to buy to lets. At all. In any way shape or form.
Anyone who uses this argument is simply a shill for the amateur landlord set.
 

Feckkit

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Perhaps 'evictions' should be changed to 'reposessions' in the OP.
Repossessions, evictions; it's all semantics and amounts to the same thing.

Unless, in the case of renters, you think the Banks are going to suddenly turn into property administration companies, to manage repossessed buy-to-lets, in order that the tenants in those properties can remain in situ? Good luck with that sentiment.
 

Dan_Murphy

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Feb 22, 2010
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3,811
Repossessions, evictions; it's all semantics and amounts to the same thing.

Unless, in the case of renters, you think the Banks are going to suddenly turn into property administration companies, to manage repossessed buy-to-lets, in order that the tenants in those properties can remain in situ? Good luck with that sentiment.
Why wouldn't they? The banks know as well as we do that property prices are still being kept artificially high.
 
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