The property crash crisis.

untouchable

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If Fianna Fail were not so busy, in the recent past, exchanging prime city centre development sites (in public ownership), for an allocation of unaffordable one/two bedroomed "dogboxes" in suburbia, would the long awaited "re-adjustment" in the property market have come sooner.?
By giving away the "Family Silver" to grasping developers, have they delayed the inevitable?
 


cooperation

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House price have tumbled by 20%, independent figure show.
Acording to the most recent two-week survey by Irish Property Watch website.
Irish Mail on Sunday 22 April 2007, page 10 has reported.
 

untouchable

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Young people will be the principal victims

can one imagine the dilemma that may soon face those unfortunates who have bought one of the small number(thankfully) of so called "affordable houses" that have recently come availible in county Dublin.?
These young people will perhaps have to sell at a loss in the coming years and still pay back to the county council co-owners, the full portion of the original cost of their (councils investment) half share instead of half of the anticipated profit as was envisaged when everybody thought the market would never stop rising :shock: !If Fianna Fail had provided the affordable housing units 5 years ago instead of shamefully capitulating to the builder lobby at least the owners would be in positive equity territory. Now a stream of pre election "affordable "homes has hastily appeared just when they are least needed- in time to catch the fall in the property market. :(
Those who bought into the so called affordable home scheme in the past two years will be the main victims of the long heralded readjustment (or crash)
 

merle haggard

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id advise people to get very angry if this happens . Get angry about the multi billion euro give away of our oil and gas resources too . wreck the place if youve nothing to lose . Burn down the banks and the moneylenders and say jesus inspired you . Take to the streets with torches and pitch forks and go in hunt of journalists , politicians , property developers and all the other assorted scum and dregs of society who got you into this mess and sold you into indentured servitude for the rest of your life in a con where they got rich and you got shafted.
 

Universal_001

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Your forgetting something..Irish people are retards.

They'll blame this on the next government whoever they are.

If it's FF they'll say "well at least the other shower weren't in it be worse"
if it's FG they'll say "EVERYTIME THEIR IN THE BUILDING GOES DOWN! de buildins only good when Fianna Fail is in"

Then they'll settle down, and jump head first and eyes closed, onto the next pyrimid scheme that comes along.
 

untouchable

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shoeshine boys

My own daughter narrowly avoided being stung in this situation a few weeks ago when she was offered a so called "affordable" one bedroom dogbox in Clonee for massive money. Fortunately she did no contract into it. She is hoping to buy the same property next year for 50,000 euros less-and without the huge problems and restrictions attached to co ownership by the county council.
She said that she saw the light when coming home recently in a taxi, and the driver was boasting about his new holiday home in Bulgaria :roll: !
You remember the famous story about the investor who decided it was time to get out of the market in 1929 when his shoeshine boy began advising him about shares.. :D
She claims to having had a "shoeshine moment" 8)
I wonder what happens now that the developers have all the prime city centre sites- and the county councils "affordable" homes may well be left empty ' :lol: :lol: despite the government having contracted for them at what is now clearly well over the odds
The Ballybritt Brigade are sitting pretty anyhow!
 

jayblue

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what property crash, the programme last week was trying to scare people bout voting for change, house's are over priced anyway
 

Universal_001

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Yes they were overvalued to begin with, thats the problem, now as we come down off this high were ****ed.

It's not lower house prices people have a problem with, it's the domino effect on debt and employment.
 

untouchable

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Universal_001 said:
Yes they were overvalued to begin with, thats the problem, now as we come down off this high were ****ed.

It's not lower house prices people have a problem with, it's the domino effect on debt and employment.
I cant see any major problems as the market cools off. Many of the foreign construction workers will return home. Investors who comprised 40% of purchasers in the housing market in recent years, will certainly lose as they find it more difficult to rent to temporary workers.
The government will lose a little revenue on income tax sure-but its not the end of the world.
 

Universal_001

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A LITTLE? Its a huge chunk of revenue that comes from this area.
 

Kevin Doyle

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I'm actually starting to see merit in the latest theory that FF are actively trying to loose the election so FG/Lab will be in power when the chickens come home to roost.

When you tie in the property crash, the resource give away, high inflation and the MNC's doing a legger to the far east, It kinda makes sense that FF would not want to be left holding the bag and the mugs that are the Irish electorate will swallow the bull drip fed to them by FF in opposition that it was all FG/Labs fault. Government collapses and where back to FF in power infinitum. Cute Hoorism gone mad??
 

Binx

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Kevin Doyle said:
I'm actually starting to see merit in the latest theory that FF are actively trying to loose the election so FG/Lab will be in power when the chickens come home to roost.

When you tie in the property crash, the resource give away, high inflation and the MNC's doing a legger to the far east, It kinda lakes sense that FF would not want to be left holding the bag and the mugs that are the Irish electorate will sallow the bull drip fed to them by FF in opposition that it was all FG/Labs fault. Government collapses and where back to FF in power infinitum. Cute Hoorism gone mad??
I know the electorate have the memory of goldfish, but i don't think one year into the next governments term that anyone is going to forget that fianna fail have been in power for the last ten. While i'm generally quite happy with the current government the one issue i am very disappointed with is how they let house prices spiral out of control. Fair play to McDowell for dangling stamp duty changes in the budget over people last september (even though it had nothing to do with him) in conjunction with rising interest rates, it made people stop and look at how high they had climbed price wise. Government intervention without actually intervening. This crash could have been a lot worse.
 

untouchable

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Kevin Doyle said:
I'm actually starting to see merit in the latest theory that FF are actively trying to loose the election so FG/Lab will be in power when the chickens come home to roost.

When you tie in the property crash, the resource give away, high inflation and the MNC's doing a legger to the far east, It kinda lakes sense that FF would not want to be left holding the bag and the mugs that are the Irish electorate will sallow the bull drip fed to them by FF in opposition that it was all FG/Labs fault. Government collapses and where back to FF in power infinitum. Cute Hoorism gone mad??
Thats possible accurate. McDowells brother said that this an election to lose(for Fianna Fail & PDs) and lose happily.
The opposition get in to pick up the pieces and all the s**t that Fianna Fail leave behind.Berties speculators pack their cash laden satchels and step aside for a spot of golf in Marabella, and his TDs eventually return triumphantly, to power to cause more chaos and mayhem.
 
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untouchable said:
Thats possible accurate. McDowells brother said that this an election to lose(for Fianna Fail & PDs) and lose happily.
The opposition get in to pick up the pieces and all the s**t that Fianna Fail leave behind.Berties speculators pack their cash laden satchels and step aside for a spot of golf in Marabella, and his TDs eventually return triumphantly, to power to cause more chaos and mayhem.
That's the usual routine as I see it. But if the worst happens it's better that Fianna Fáil aren't in government. They don't have it in them to make cuts, reduce inflation and do the unpopular things necessary to lay the foundations for growth. They object to those measures in opposition.

The timing of this slump with regard to the election is remarkable.
 


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