That just doesn’t make any sense, the creditors are different.
What discounts would that be??
Are mortgage rates high because of a lack of evictions or because of bad lending? What would the interest rates be if the taxpayer wasnt subsiding the banks? Would you agree or disagree that the root of the problem lies with banks throwing money around like confetti i.e poor lending practices?
Mattie and his former Shinner/FF 'Sure Lets Occupy Dublin Again Lads’ allies are populist gobshites. I bet they all signed up for the daily Dáil allowance before they occupied anything.
Within the overall PPR/BTL mortgage market of some 800k mortgages we have 40k who are over 720 days in arrears which now generally means 2000+ days in arrears. 5% of mortgage holders and 5%+ of outstanding mortgages by value.
It is partly because of these deadbeats that variable rates in Ireland are north of 3% where the Eurozone norm is a good bit less than that. Burgess forgot to mention that the likes of 2Pack with his 0.75% tracker rate also needs a bit of a digout cross subsidy despite my being rudely performing, to say the least.
Imagine if a local authority tolerated 40k tenants who simply refuse to pay anything.
Well he certainly didn’t do anything *different * to an entire cohort who got away scot free on the baiss that they owed more money.
Yes to the rest above…which is exactly what many of us here said would be the outcome of the process that was put in motion ten years ago.
Ultimately, society quite clearly isnt functioning for large sections of the Irish population at a very basic level. Many are either permanently locked out of the housing market, others are stuck in commuterville such that they cant start families etc without experiemcing extreme hardship, mass emigration has returned over the past number of years…again all predicted here a decade and later ago.
Id say you’ll find that many of the same people who have no time for the likes of Margaret Cash have similar disdain for the powers on whose behalf the Strokestown eviction was being carried out ie they view them both as two sides of the same bloodsucking coin.
Last time I checked a quarter of DCC tenants were in arrears.
Unsurprisingly, the biggest applicant in Dublin for posession orders is Dublin City Council. Not the banks.
I’m at a loss to understand how you link migration to this Strokestown incident, but net migration of Irish nationals in 2017 was 3,400 people, or 0.08%.
If you’re looking for a movement of people argument, movement of young people from rural to urban would be a better place to start.
Have you got a source for that. That the siblings co-owned the house and didn’t sign their consent to the house being used as collateral? Or that they did sign off on the house being used as collateral but the bank failed to get an eviction order against them. Either situation would indicate massive incompetence on the part of the legal people working on either the initiation of the loan or the subsequent enforcement, or both. Not impossible but so highly unlikely that it is very difficult to accept that might be the case without some compelling evidence.
Any source for “half the country”? A substantial chorus from the usual suspects definitely but it’s hard to assert that it’s any more than that. I was surprised to see one acquaintance on my own social media stream yesterday coming out with a different line. Her job and general views are of a type that would get her labelled an SJW by those who use that as an insult, but she was making the point that those who don’t repay loans, and also don’t surrender the asset on which the loans were secured, were making it more difficult and expensive for those who are making an effort to pay their mortgages.
And the same people who bitch about repossessions, minuscule as they are, will also bitch about mortgage rates being 3% when the rest of the Europe only pays 1%, either wilfully or ignorantly failing to make the connection between the two.
Remember that this McGann chancer even stiffed Alan Hanly…a scumbag Dublin developer of yore…and Hanly went to court to get an an €18k judgement against him.
Hanly never got a penny but that is more a question of shite Karma than of the laws of the land.
Or indeed any evidence…
This is sounding quite like freeman of the land stuff withe the usual whataboutery. They’re a more sympathetic case than the wankers in Killiney, but only somewhat higher. Are they higher or lower than a bust developer? What about a media luvvie? Higher? Lower?
Worse. Freeman plus Provos shite.
You can argue about the origins, that the lack of evictions was caused by bad lending, but where we are right now is that Ireland is not proving an attractive market for any of the European banks who charge 1% in their home markets. The barriers to entry within the EU are low so why are they not flocking here where they could earn three times as much as in their home markets, maybe four times as much if you factor in that their average rates wouldn’t be sandbagged by historical trackers? The only aspect where Ireland is an outlier compared to other EU countries is the repossessions. The rate of repossession compared to mortgages in significant arrears is minuscule. We even have our own special measure in our published statistics, mortgages more than 720 days in arrears. Most countries don’t even measure that because repossessions happen long before you get to two years of non-payments. Yet in Ireland, as 2pack pointed out already in this thread, the real average for this cohort is much higher. By the time you get a court to grant a possession order the report normally refers to 7-10 years of arrears.
So, sure the root of the problem can be traced back to bad lending practices, and bad borrowing practices, but without a time machine that doesn’t help us resolve the problem today. And the chief cause of high mortgage rates today is the lack of enforceability.
This “lack of enforceability”, plus this unholy alliance of Provos/Freemans/Parasites/Criminals running around the gaff, also means that no honest person can get a mortgage in Donegal or in Wexford nowadays, outside of a few towns. There is zero lending in rural areas outside of CUs and that is now a set policy.
Roscommon, and probably Mayo and Longford, as well just joined that hitherto select group. The only people who can buy a house in Ballinlough or Strokestown nowadays are crims and/or cash buyers.
And I assume you have a source for the Provo stuff? Beyond the word of an organisation that spent years slandering Maurice McCabe as a paedophile?
As somebody else mentioned above the only group in this fiasco with verifiable links to a paramilitary organisation are the security firm who assaulted and evicted the family from their home… be they in employ of the Sheriff or the bank. I assume you’ll be focussing on that aspect in your next post?
Maybe have a think about why the violent action undertaken to reinstate thefamily in their home is receiving such widespread support. 15 years ago, there would have been widespread revulsion at such an action. Not the case now.
The various levels of disfunction across the board are breathtaking at this stage. You yourself were on another thread saying that you’ve a couple of IT professionals living in your garage in rural Galway ffs.
Join the dots.
An entire generation were exported post 2008.
Or were you asleep for that?
I have equal disdain for the UVF/Provos/Freemen, they are equal opportunity thugs.
The days of being able to blacken anyones name by simply throwing in malicious, unsubstantiated reference to the Provos are long gone.
Unless of course you have some actual evidence?
I see that the founder of democrat.ie was questioned for a few hours in Roscommon Garda station for covering the events. According to him the guards are trying to seize his phone. The Garda Press Office also allegedly phoned his office to inform him that he should have run his story by them first.