Govt's New Affordable Mortgage Scheme


Don’t think it’s that big a deal, except to put a floor on the market and making sure QE money makes it to rentiers
Between 2011-2016, only 11 HomeChoiceLoans were drawn down, (this scheme’s predecessor)


You can bet every house in Knocknacarra, Galway asking 300k will be asking 320k by the end of the month. It’s the headlines that do the damage. Goosing market sentiment.


G4, caller, G04.


Yes, that would be the most obvious outcome, like all of the previous non-efforts under FG. It’s fundamentally wrong-headed.


On a not unrelated topic, Eoghan Murphy’s presentation of information is awful. He tries to gallop through everything as if he’s in an awful rush to get stuck into something really urgent elsewhere. He acts as if he would really like to answer the questions but he just doesn’t have time. Anyone who has ever managed staff will recognise him for what he is; a bluffer out of his depth in a job he doesn’t have the acumen for.


It’ll get vendors to increase their prices so that’s good, no? They’ll feel richer and buy a new car. Brooom brooom, beep beep, keeps the economy rolling, wha?


I think it’s necessary to look at the other costs of the FG Housing Crisis.

How about the damage being done to children? We’re going to be paying for the harm being done to these children for the next 80 years.

Homelessness sees increase in referrals to Tusla, - The Irish Examiner.


Mel Reynolds on RTE Radio One just now calls the scheme “artificial affordability that will allow buyers to spend more, inflate asset prices”. It’ll put a floor on minimum prices in Dublin and Cork studio or one-bed apartments. He calls for housing associations, co-ops to build real affordable housing, and also for policies to lower land prices. It’s like he reads the 'Pin.

His Irish Times article is worth reading.


Back in 2011 tenants demanded whatever they wanted and there was very little noise coming from the pro-tenant groups. Ignoring of course their demands to cut the landlord dole.


I am not sure why you keep parroting the line about land hoarding. Occasionally you make some good points but more and more they are being drowned by the dogma you preach. As a builder are you having any difficulty in purchasing land?

I know there is plenty of residentially zones land available for sale.


Its great if you are a vendor - you will get the extra money.

From an economic perspective it is pretty much a zero sum game.

As regards the feel good factor stoking the economy - the government could always increase property taxes :slight_smile:


or end the CGT exemption for PPRs

only joking, Sinn Fein and the other pseudo socialists will never advocate it; rendering it politically impossible


FF’s housing spokesperson Barry Cowen welcomes this move by the Government.
…cos, obviously he came up with it.


He was an Auctioneer at one stage so anything he says on this subject is worthless


No point trying to blame anyone but FG/FF for the housing crisis. They’re the ones in government and have been for 90 years. With regards the LPT, I think it’s fair to say that anyone who knows anything about property economics and public policy would agree that a Site Value Tax would be a far better system. Hopefully the real opposition parties will start making a bit of noise about it. I wonder if the idea will get a fair hearing?



I’m all for a site valuation tax. However, it isn’t straightforward to implement - which I think is why certain types find it so nice to talk about it.

On the other hand, abolishing the PPR exemption could literally be done at the stroke of a pen. There’s no social or economic rationale for it. It’s a nice quick test of someone’s/some party’s bona fides - i.e. a bullshitter and a spoofer will talk about new policies that would take time to implement and require massive implementation [connecting with Land Registry etc.], and ignore the low hanging fruit that is abolishing a sop towards the propertied middle classes. It’s probably the most “progressive” tax you could have, but the chances of the Shinners or their fellow travellers advocating it are S.F.A. going by their behaviour on Dublin City Council

in case you need it spelled out it’s not either/or. The United States, bastion of free-market capitalism has CGT on PPR, as well as local taxes that generally factor in the land as well as the building.


What an odd contribution. A fascinating marriage of ignorance and rudeness. Sometimes your contributions read like an internal psychotic drunken brawl, but I presume it’s not intentional.

With regards CGT on PPRs in the US, there is an exemption on the first $500k and there are also ways to structure the sale to avoid paying anything (a company can roll the sale proceeds into the purchase of another property and basically put off paying anything ever). Don’t confuse CGT as property taxes or site value taxes. Very very different things and perhaps you might benefit from reading up on the topic.

Any difficulties in implementing a Site Value Tax have been addressed years and years ago. Here’s a good read on the subject. The Economic Research Unit’s report ‘IMPLEMENTING A SITE VALUE TAX FOR IRELAND’ from** October 2011**. Worth reading.

If you want to influence public policy maybe you should focus on lobbying FG and FF instead of worrying about the bogeymen under your bed.


Talk about diversionary tactics. So you’re not in favour of abolishing the exemption? Just get off the fence why don’t you?

I’m well aware that the US isn’t absolute (unlike you I’ve lived there?) pretty disingenuous to bring company structures into it. What the hell has that got to do with Ireland? Real politician talk, you’re not on Vincent Browne :unamused:

I’m not confusing them at all, however you seem to be running interference. They are compatible with each other,the rather large exemption makes it even more inexcusable that a so calledsocialist party won’t copy it!

Blithely claiming that difficulties in implementation have been addressed speak volumes to your sincerity. (Linking to the highly partisan hack tank NERI isn’t doing your credibility any favours either! )

I’d love to be able to influence FF and FG, I’m not a member of either so my influence is limited!

and I’m not blaming bogey men - this is a discussion forum after all - if you want to posit as you do (ad nauseam) that SF are any sort of progressive alternative to the status quo you might want explain why they won’t start by getting rid of the exemption or else admit that they want to keep it.

Like I said, it’s the perfect litmus test of your/your party’s bona fides. And you’re failing.


What are you talking about? I’ve never mentioned Sinn Fein or any of their policies ever in almost ten years posting here. Have you had another stroke?


We all know where your political allegiance lies :laughing:

Maybe we are all wrong - time will tell.