CIF - Calls for Stamp Duty cuts...

Interesting.

Only 25,000 built.

How’s that vacancy rate looking now when people don’t want or simply can’t afford the shagging properties!!! :open_mouth:

Fixed.

A “need”? Well, if there is a “need” for that many houses, the demand will be there already for the simply reason that it is a necessity and there is no substitute for housing.

If people aren’t buying because of begrudging pinsters talking down the economy, then it is “needed” for rental. More stupid VI guff.

On something related, in that it is more stpuid VI stuff, the media report on MacInerney’s downgrading of home completion for this year included a statement from the company that despite a 30% fall in completion in the first half of 2007, there is no threat to financial prospects because of high profit margins.

These guys are completely unbelievable :unamused:

The usual BS ignoring the Big bright coloured Elephant in the room with a t-shirt that says “I’m too expensive”

leeches looking for government sponsorship.
:unamused:

Even if stamp duty was 0% Irish Property would still be a bad investment.
Northern Rock Deposits pay more and are safer.

Investors should have been taxed out of the market years ago to stop the bubble getting as out of control as it did. Instead we gave them tax incentives that drove properties up to prices that meant a decent yield was impossible.

Sorry CIF stamp duty is no more the problem now than it was before the budget. House prices, too much supply and to little demand are the problems. That can be fixed by dropping your prices, cutting supply and being thankful that you got as many years of tax incentivised boom as you did.

-Rd

I wonder if the Indo will start up another campaign leading up to the budget? I think the public now knows they were conned last time though, before the last change sentiment was upbeat and people really did believe it was just a temporary blip. Nowadays sentiment has very definitely turned, so I hope the VIs cannot pull off the same trick twice. The dodgy budget state will also provide an easy excuse for Cowen to avoid doing anything this time around.

I guess this means everyone should wait until after the budget to buy, and then the budget after that and the budget after that and then the election after that. This is hilarious.

Cut tax and increase spending. 8DD

If the public ain’t borrowing, someone’s gotta do it :smiling_imp:

But the government are borrowing on behalf of the people who repay the added debt through additional taxation. So in ‘Fogarty World’ we would cut taxes in one area, add more government debt and have to increase taxation elsewhere. Maybe we could up corporation tax and get rid of those pesky MNC’s occupying valuable real estate. XD

Thanks The Unwelcome Guest for the piece. Fogarty said

Right! he is protecting his own corner. The sad thing is that his organisation has been able to greatly influence a Fianna Fail government in the past. The gov will probably do as directed again.

Woe to our country if this happens! This is the same mentality that gives the Capitalist System a bad name; it should be checked by a prudent government! It is a direct follow on to the over the top exploitation of our young men and women by lumping them with outsized mortgages etc. It is called GREED.

The European countries have already laid the path that we seemed to be happily trotting down. By the year 2020, it is estimated that any such Loan Debt from old aged Europe will be classified as JUNK. Europe is presently up to their eyeballs in debt; their whole problem is trying to keep the same standard of living as they had when they exploited their young men and women with associated collapse in the birth rate. Why! Oh why! Are we such inferior beings that we fail to see this and appear to be adamant in going down the same road to disaster. Borrow More :imp:

Developers are now competing against a large existing stock of property. All they have to do is under cut the price of the existing stock, while offering better quality. That’s how they can save their asses. This is what the smarter developers will do, the rest will go to the wall.

It would be thrice if they tried it again… I dunno after the slide into the autocratic handling of the NICE treaty I see logic as a scarce commodity.

TV3"Hopes are high amongst builders and buyers for changes in the budget in December"
Well there goes the autumn selling season, Matt Cooper had Jim Power on and he says it could be dont as a revenue neutral move

Tom parlon is now earning his bones.

thespecuvestors are gone, and the building industry thinks that joe average punter will be keeping the high price of houses.

best to admit that there was a bubble and adjust down accordingly. The developers got fabulously rich over the past few years, that gravy has thnakfully come to an end.

oh yean, and let the market dictate the price not some mumbo jumbo Fianna fail (without the fada ;0 ) scheme to keep property prices high.

I’m not so sure.

I can’t find any new developments of houses in north Dublin City, only apartments and townhouses. No amount of marble worktops and fancy white goods would convince me to buy something I know will not serve my needs for the next 40 years or more.

But that’s just me…

Well they would, wouldn’t they…….
They have way too much influence it makes me sick.

ON TV3 the IAVI claimed that the government need to reform stamp duty to “Get the investors back into the market”.

I’d love to know what kind of weed the IAVI are smoking if they think investors would be interested at current prices even if stamp duty was gone.

Let’s get someone from IAVI laying out the logic for investing, show us how the Yields justify it.

-Rd

Sorry, I should have said ‘They might not know it yet, but developers are now competing against a large stock of existing property.’ I hope that is clearer.

Think Fish wrote

The fact that a former Minister of State made this transition shows you how out of touch our politicians were with reality. His salary was greater than the Chancellor of Germany’s, did not make him any the wiser! He could be booted out of his present job or resign within the year; not because of his inability, but that his task is hopeless because of the crazy policies pursued by his own ill informed government!

But of course, everything will be fine if the present government provided they are all as blind as he was, takes the soft option and borrow up to the limit permissible by the EU as recommended by Forgarty. Why the heck should they feel limited by this; didn’t the Bankers lend a lot more, above CBs recommendations and what any whore would think prudent, to house purchasers: and what happened? The governments of the world stepped in and rescue them when they run out of credit.

Tulip Mania in the absence of increase in manufacturing output are the only play in town: Stock Markets, Housing, Commodities all financed by funny money i.e. hedge funds etc! Our Current account, balance of payments deficit was nearly €6Bn in 2005 and over €7Bn in 2006. What the heck? The External Debt is €1.3trillion; let me put it down in figures €1,300,000,000,000. Paddy the voter does not give a damn, why should the business leaders when they can have his political representatives in their pockets and make lots of money? Our great national business leaders say to borrow more! What fine fellows our education system is churning out!

Until we wake up to what is really happening; there will be no hopeful end in sight. Did they get Ahern? They did in my bloody hat! Both sides of the house are living in another sphere! Slow bloody learners, the whole lot of them. They are right not to put more money into the Mental Health: they might be found out!

There are thousands of honest to goodness people on this isle trying to irk out a clean leaving, but they are restricted as a result of numerous stupid governmental actions or inaction in some cases over the past 30 years. People are and will loose their jobs, savings and pension funds are being decimated before our very eyes. The circus presently being played out in Leinster House makes one weep!

Lets Borrow More, lump the young ones with more debt: sure the next generation will pay it back. Admit it! That’s the way we live. We must be doing something right. Sure the same government keeps being voted in; again and again and again! Just like the Colorado Party in Paraguay (a story for another thread). The Rich get Richer and cordon off their houses with high walls, more homeless on our city streets.

Bertie, crowned himself a socialist and Joe lost his job. Sure all his business, legal and political associates are well off. What kind of Socialist is Bertie? It probably depends on which multi millionaire builder he most recently rubbed palms with! Could it be a Democratic Socialist (€ lodgment), Marxist Socialist (£ lodgment), Neosocialist ($ lodgment); Anarchist Socialist it could be, judging by the disarray among all the learned and fellow million a year barristers created in the Mahon Tribunal, and not forgetting shambolic shenanigans from the poor lost €200,000 and upwards a year Teachtai Dalai, in Leinster House, where he is Lord Rex.

Borrow more; the trick is not to let Paddy the Plebe aware of the running totals!