The Celtic Tiger. Your personal historical contribution.

Truth.ie

Well-known member
Joined
Oct 5, 2008
Messages
27,354
The Celtic Tiger was a bittersweet period in Irish history.
Yes, we all thought we were rich for a period and there was a certain feelgood factor involved, but a lot of us behaved absurdly.
What are your good/bad memories of the period?
What did you see around you that now makes you wince.
Did you personally act irrationally (buy property in Bulgaria, do your Christmas shopping in New York, or tip a lap dancer 50 euros in her titties)?
Do you know people who did?
Do you miss it or glad to see the back or it?

Your memories please.
 


Gin Soaked

Well-known member
Joined
Apr 25, 2016
Messages
4,112
No money down car leases.

People buying holiday homes in half built hotel grounds with the hope that a golf course would appear. In Leitrim. When they did not even like golf.

Estate agents and the way they would look down at you..

Estate agents cars. And not seeing anything wrong with it.

Shopping in NY for x-mas. (Never did that)

Cold calls for loans to buy eircom shares.

Magical times.....
 

NYCKY

Moderator
Joined
Apr 17, 2010
Messages
13,518
Paying E3.50 for a cup of coffee somewhere in the middle of Cavan. I think the coffee must have just been flown in from Brazil.
 

Sister Mercedes

Well-known member
Joined
Dec 19, 2011
Messages
20,461
I have a relative who was calling the Irish property market a bubble even before David McWilliams did. Probably back in the mid 90s'. So he rented while he waited for the market to fall. And he waited. And waited. Finally come the mid-2000's he decided that he couldn't waste his whole life waiting for something that was obviously never going to happen. So he bought a house.

I reckon the day after he signed his contract was the day the market finally started to fall. His mortgage is still about 40% under what he paid for it.

Don't listen to anyone who says nobody thought it was a bubble. Most people saw it was a bubble. They just kept being proved wrong.
 

Sister Mercedes

Well-known member
Joined
Dec 19, 2011
Messages
20,461
Also, friends visiting from Italy who were charged when they asked for extra breadsticks at an expensive restaurant in Dublin. They went home telling people the Irish were the 'new Jews'. And they didn't mean it in a Nobel Prize for Science sort of way.
 

silverharp

Well-known member
Joined
Jan 21, 2015
Messages
16,674
I remember buying a new car in 2005 and the dealer thought I was mad paying cash for it "nobody does that "were his exact words
 

Sister Mercedes

Well-known member
Joined
Dec 19, 2011
Messages
20,461
I wonder will the former German ambassador Christian Pauls contribute to this thread.

Ambassador Pauls made a brief speech in German to a visiting group from the German Federation of Buying and Marketing Groups (the ZGV) at Clontarf Castle in Dublin in which the Irish Independent quoted him as saying that:

Ireland was a "coarse place".

Irish junior ministers earned more than the German Chancellor.

20% of the population were public servants.

Ireland's "chaotic" hospital waiting lists would not be tolerated elsewhere.

Irish wage demands, particularly those in the health services, were too high.

Ireland's immigration policy had learned nothing from Germany and the Nordic countries
He also cited the doctors' rejection of €200,000 a year posts on the basis that this sum was "Mickey Mouse" money
https://en.wikipedia.org/wiki/Christian_Pauls

Reprimand for German envoy over his 'coarse' Irish speech
 

PBP voter

Well-known member
Joined
Sep 18, 2015
Messages
9,429
I despaired at people buying overpriced property and them trying to convince themselves it's good value.

Now I am back doing the same thing again.

Sad thing is certain people have to buy. If they want to start a family for example. Not as if you can depend on the rental sector. You could get kicked out anytime.

Also I bought a load of whiskeys and a few wines which I have kept. They have all theoretically gone up in value. (If you went into a shop to buy them they are much more expensive. If I could find buyers at those prices is another question).

I wasted a fortune on new cars between the mid 90s and 2008(4 times). Wished I just stuck with a Ford Fiesta. Biggest waste of money going are new cars. I only need to get to A to B.

Had a lot of great holidays. I probably should have stayed in cheaper hotels but don't regret all the travelling.
 
O

Oscurito

I was a very well-paid IT contractor in the 1997-2002 period. I bought a house (albeit in the unfashionable north midlands) and paid off the mortgage in 4 years.

I think I was sensible. I knew that the good times wouldn't last forever and I planned accordingly.

There was much prodigal consumption. I remember having a coffee-break discussion with colleagues in mid-2003, There were six or seven people sitting around the table in the plush corporate canteen. I was the only one who didn't have credit card debt running into four figures.
 

firefly123

Well-known member
Joined
Dec 8, 2009
Messages
28,475
I have a relative who was calling the Irish property market a bubble even before David McWilliams did. Probably back in the mid 90s'. So he rented while he waited for the market to fall. And he waited. And waited. Finally come the mid-2000's he decided that he couldn't waste his whole life waiting for something that was obviously never going to happen. So he bought a house.

I reckon the day after he signed his contract was the day the market finally started to fall. His mortgage is still about 40% under what he paid for it.

Don't listen to anyone who says nobody thought it was a bubble. Most people saw it was a bubble. They just kept being proved wrong.
Yup same here. I was in the market for a house from about 2002 but held off until 2007.
Cabbage that I am.
 

stopdoingstuff

Well-known member
Joined
Feb 26, 2011
Messages
22,425
People got in touch with their inner morons. Did not enjoy it. The worst thing was that pubs were ruined and have never recovered. I stopped going.

What I did like was the invasion of hot Eastern European and Asian women, and the fact that I was not working much. I had a nice position in the black economy providing medicinal products to needy patients. My days would begin at 11 with a nice stroll and some breakfast. Then I would study, read, and listen to music. It was heaven for a year or two and living outside of Dublin helped. Then I qualified and had to work. It was awful.

Another upside was the fact that all my favourite relatives were alive.

But as for the hype and vulgarity of those times, I tried to tune out.
 

Ardillaun

Well-known member
Joined
Jun 4, 2010
Messages
12,179
I have a relative who was calling the Irish property market a bubble even before David McWilliams did. Probably back in the mid 90s'. So he rented while he waited for the market to fall. And he waited. And waited. Finally come the mid-2000's he decided that he couldn't waste his whole life waiting for something that was obviously never going to happen. So he bought a house.

I reckon the day after he signed his contract was the day the market finally started to fall. His mortgage is still about 40% under what he paid for it.

Don't listen to anyone who says nobody thought it was a bubble. Most people saw it was a bubble. They just kept being proved wrong.
As many others have pointed out, fear was a big factor as well as greed. Young working people could see themselves pushed farther and farther out of Dublin as prices rose until they could see they wouldn't be able to get to work at all from their own house if they didn't buy soon. Renting in Ireland is another grim story. The political, business and banking elite must bear most of the blame for not showing more concern about property prices. By no means did everybody party, even among the house buyers. That relative of yours must feel sick every day thinking about the whole sorry mess. In Canada, we have probable bubbles in two cities at the moment but it's a source of negative commentary and calls for action, not something to brag about.
 

Sister Mercedes

Well-known member
Joined
Dec 19, 2011
Messages
20,461
I hate when I unburden myself of an anecdote on page 1 only to to discover I've been relegated to chat by page 2.
 

Truth.ie

Well-known member
Joined
Oct 5, 2008
Messages
27,354
This was a major event in Irish history.
Stringjack believes it shouldn't be in the History Forum and instead is a trivial matter of chat.
Could have been an interesting topic but now it's ruined.
I despair at times.
 

GDPR

1
Joined
Jul 5, 2008
Messages
217,782
This was a major event in Irish history.
Stringjack believes it shouldn't be in the History Forum and instead is a trivial matter of chat.
Could have been an interesting topic but now it's ruined.
I despair at times.
I had a thread on a massively important topic in Middle Eastern history moved to chat once.
 

gerhard dengler

Well-known member
Joined
Feb 3, 2011
Messages
46,739
Having to pay a cover charge to get in to a pub on 31st December 1999.

SSIA's.

MBNA sending me a credit card with €10,000.00 limit, and not even being an MBNA customer.

Unsolicited phone calls from banks managers saying "if you are ever thinking of extending your home or buying new furniture, our bank can offer you................"

My niece working in Brown Thomas and telling me how much commission she earned selling handbags worth more than €1,000.00

How quickly the dual carriageway got upgraded for the Ryder Cup in 2006 (in Kildare).
 
Joined
Oct 8, 2011
Messages
39,552
I had a thread on a massively important topic in Middle Eastern history moved to chat once.
The thread opened on the death of Father Alex Reid still languishes in The Zoo.
 

General Urko

Well-known member
Joined
Oct 24, 2012
Messages
15,712
A scam which brought out the true redneck sleeveen nature of a lot of Irish People!
It was largely a property pyramid selling scheme where those at the bottom were always going to get ridden goodoh!:mad:

The one thing I learned a bit like The Germans learned from their hyperinflation period wrt inflation, is do not get into debt!
 


New Threads

Most Replies

Top