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The Germans want to steal our houses!

Victor Meldrew

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Jun 8, 2007
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7,059
On the other hand -

ATTN BMW K1200 Owners - [url]www.irishbikerforum.com - The first and original forum for bikers in Ireland[/url]
I was surprised at BMW being so highly placed... Didn't know about the Motorrad issues.

Most premium car manufacturers have jumped through hoops to extract power and economy from small motors of late. Getting 200bhp and 50mpg out of 2L is a challenge that is not helped by 30,000km oil change intervals. Feel free to blame the Green lobby in Europe.
 


Victor Meldrew

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Jun 8, 2007
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Fancy that, glorifying production....smart arse paddy thinks he's a millionaire and is happy at how much his house made this week....and makes fun of the Germans while they export real produce.....shows exactly why this problem would occur again tomorrow in Ireland if the people were given the chance.
I think many have been really scarred and traumatised at the wholesale destruction of wealth through expecting inflated and unearned gains from the market.

The penny is dropping with regard to the sociopathic nature of property speculation on family homes.

We have lost the church, which, for many of it's failings, did a good line in "shame".

Shame is under-rated and needs to make a comeback.
 

Mad as Fish

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Dec 6, 2012
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24,185
I was surprised at BMW being so highly placed... Didn't know about the Motorrad issues.

Most premium car manufacturers have jumped through hoops to extract power and economy from small motors of late. Getting 200bhp and 50mpg out of 2L is a challenge that is not helped by 30,000km oil change intervals. Feel free to blame the Green lobby in Europe.
Things are slightly more advanced in the bike world -

2012 BMW S 1000 RR Specifications - Mbike.com

193hp from a litre! But they don't talk about fuel economy much.
 

marieabennett

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Mar 18, 2013
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78
I was in Germany on work last week, they feel exactly the same as we do, at least the small man on the street, there is no animosity towards the Irish, although there was a few months back.

They feel they are being ridden from on high by politicians and financiers on dream money.

Reading the ire directed towards the Germans here, it's disgusting really how the Irish won't take responbility for themselves and their actions.
No animosity toward us??? We're in this mess because Germany insisted we nationalise bank debt or we'd be nailed to the wall! If one follows the media reports, the animosity is ALL the other way. At the risk of melodrama, the Germans have the same result they would have had if their Spring offensive in 1918 succeeded or GB hadn't entered the war. Smaller European States (used to be countries) now have little better than basic Home Rule enshrined in legislation with Germany calling ALL the shots.
 

ibis

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Mar 12, 2005
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No animosity toward us??? We're in this mess because Germany insisted we nationalise bank debt or we'd be nailed to the wall! If one follows the media reports, the animosity is ALL the other way. At the risk of melodrama, the Germans have the same result they would have had if their Spring offensive in 1918 succeeded or GB hadn't entered the war. Smaller European States (used to be countries) now have little better than basic Home Rule enshrined in legislation with Germany calling ALL the shots.
Bollox. The decision to guarantee all our bank debt was ours alone - well, Lenihan and Cowen's alone, really. And despite the reportage, which invariably focuses on Germany, there's a group of northern EU countries which are calling the shots, and calling for everyone to adopt similar fiscal discipline to them, because they're basically the lenders of last resort for everyone else.
 

daveL

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Oct 29, 2010
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Daft.ie : Sales : First Time Buyers

A bookmark I kept from an old p.ie thread from long ago... the comments make for grim reading. :(
Re: First Time Buyers
Posted By: Wise John Date: Tuesday August 23, 2005 @10:49AM
Paying of your mortgage is one of the stupidest things any one can do, think of all the money you will have tied up in your home when you could have it working for you, especially when money is currently so cheap to borrow. Never never pay of your mortgage, use other peoples money to enhance your wealth.


Wise John?.... really?

I hope the arrogant pr!ck is bankrupt

A few thousand more like him and Ireland as a nation trying to shift the blame for our hubris on to other eurozone members begins to sound very hollow
 

EoinMag

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No animosity toward us??? We're in this mess because Germany insisted we nationalise bank debt or we'd be nailed to the wall! If one follows the media reports, the animosity is ALL the other way. At the risk of melodrama, the Germans have the same result they would have had if their Spring offensive in 1918 succeeded or GB hadn't entered the war. Smaller European States (used to be countries) now have little better than basic Home Rule enshrined in legislation with Germany calling ALL the shots.

You've got that wrong, it was our own doing and it's shameful the animosity that the Irish show towards the Germans, you can't help yourself with the wartime references either, it is original I'll give you that.
 

Howya

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What's the point of providing security for a loan and then if the loan goes bad, telling the lender that they can't have the security?
 

Howya

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Re: First Time Buyers
Posted By: Wise John Date: Tuesday August 23, 2005 @10:49AM
Paying of your mortgage is one of the stupidest things any one can do, think of all the money you will have tied up in your home when you could have it working for you, especially when money is currently so cheap to borrow. Never never pay of your mortgage, use other peoples money to enhance your wealth.


Wise John?.... really?

I hope the arrogant pr!ck is bankrupt

A few thousand more like him and Ireland as a nation trying to shift the blame for our hubris on to other eurozone members begins to sound very hollow
There were thousands of people who either had that same view as "Wise John" or fell into the trap of blindly following that advice. In some cases it was greed, in some cases it was naivety and in some cases plain stupidity.
 

Dynamo

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Apr 16, 2013
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I was in Germany on work last week, they feel exactly the same as we do, at least the small man on the street, there is no animosity towards the Irish, although there was a few months back.

They feel they are being ridden from on high by politicians and financiers on dream money.

Reading the ire directed towards the Germans here, it's disgusting really how the Irish won't take responbility for themselves and their actions.
You mean in the same way the Germans took responsibility for THEIR banks that shovelled money into Anglo Irish etc ?
 

EoinMag

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You mean in the same way the Germans took responsibility for THEIR banks that shovelled money into Anglo Irish etc ?


Banks strive to make profits shocker!!! Have you contacted the press?
 

Trainwreck

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Will it though?

Why are these foreigners not buying up property at present? It can't get much cheaper than it is and there is plenty on offer. Should foreigners buy Irish property then won't they be subject to exactly the same tax upon their assets as a homeowner, where is the incentive? Why is foreign investment in buying to let a good thing but Irish buying to let bad? Which foreigners do you have in mind and where will their money come from anyway? As far as I can tell most of the worlds capital is uselessly sloshing around the various financial markets, if it becomes available to purchase residential property then why should the Irish be denied access to it?

It is also noticeable that the Irish are very slowly shedding their indebtedness -

Householders have been desperately trying to pay down car loans, card debts and mortgages and now the average debt for every man, woman and child in Ireland has fallen to €41,000, down from €47,400 four years ago, new figures from the Central Bank indicate.

Households chipping away at debt even as income falls - Independent.ie

As we emerge from debt (without selling our houses) the urgent need to liquidise our assets declines, especially if inflation once again becomes a factor in EU economics. These foreigners had better start buying sooner rather than later, before it's too late.
Because we aren't selling.

For everyseller there is by definition a buyer. Foreigners don't typically buy residential property in large amounts, but if you were selling a commercial or industrial property right now, a foreigner would buy it. It would be far more likely than an irish entity because we have all debt and no assets.


And you are living a dream if you think property prices can't fall any further. The nature of the fal ma be different - falling gradually or failing to rise against inflation, but they can definately come down further.
 

ibis

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You mean in the same way the Germans took responsibility for THEIR banks that shovelled money into Anglo Irish etc ?
Except, as far as all the evidence shows, they didn't. It's a popular and enduring myth, because it makes us feel better about borrowing money from the Germans, but it has less supporting evidence than Bigfoot.
 

ibis

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There were thousands of people who either had that same view as "Wise John" or fell into the trap of blindly following that advice. In some cases it was greed, in some cases it was naivety and in some cases plain stupidity.
There were plenty of Wise Johns on p.ie back in 2006.
 

Mad as Fish

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It would be more sensible -- and fairer -- for the crisis-ridden countries to exercise their own power to reduce their debts, namely by reaching for the assets of their citizens more than they have so far. As the most recent ECB study shows, there is certainly enough money available to do this.

Back to the article which suggests that there is a lot more personal wealth than assumed in the crisis hit countries and it is this that should be targeted by governments, but is this fair, to go hunting money rather than implementing a fair and transparent tax system that enables people to plan ahead and make choices about their spending? Not knowing where the next tax hit is going to come from hardly engenders confidence in the domestic economy, we are seeing that with the property tax.

Both cases (Greece and Cyprus) mark a turning point, indicating that government donors are no longer willing to bear all the risks without the private beneficiaries of the euro rescue paying part of the bill.

Could this principle be extended to the bondholders in the case of Ireland? They are certainly beneficiaries of the bailout and yet remain untroubled by losses. If we are not going to default in total on the unsecured loans how about a 25% haircut? If it's good enough for the Troika to demand that Cyprus removes money from depositors bank accounts, many of them foreign, then what is the objection to only paying the bondholders 75% of what they claim is owed?

Interestingly, Ireland is not mentioned in the article. So we really are the poster boy, or too small to bother mentioning.
 

moralhazard77

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Andrew Mellon, the US Treasury Secretary during the Great Crash of 1929 and one of America's richest men, observed that in a crisis assets return to their rightful owners.

Make of that what you will.
 

Mad as Fish

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Because we aren't selling.

For everyseller there is by definition a buyer. Foreigners don't typically buy residential property in large amounts, but if you were selling a commercial or industrial property right now, a foreigner would buy it. It would be far more likely than an irish entity because we have all debt and no assets.


And you are living a dream if you think property prices can't fall any further. The nature of the fal ma be different - falling gradually or failing to rise against inflation, but they can definately come down further.

And you are living a dream if you think property prices can't fall any further.

You are assuming that there is a known value for property. If I needed to sell the house within a month then the price would be little more than giving it away, if I waited 6 months then I might get more but overall I rather think that we have reached the point where, psychologically, people just aren't prepared to sell but will hang on until they get thrown out or have no other option. If there are any vultures out there thinking that there will be a glut of properties at 50 quid each then I fear that they to are sadly mistaken.

Is commercial property being purchased? I'll have to take your word for it that it is, but certainly not around here.
 


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