Greens turn their back on cheap land of opportunity

[Tattoo_d_Lady]

independent.ie/opinion/columnists/david-mcwilliams/greens-turn-their-back-on-cheap-land-of-opportunity-1881179.html

Some great challenges for the Green’s here from David McWilliams - good cartoon as well!

A couple of quotes below -

… … If the Green Party is really interested in the collective good, it would never support a proposition which prevents land from falling in value.

This goes to the core of the NAMA debate. In Ireland today, we have an opportunity to “lock in” the huge competitive gains that falling land prices give us. Cheap land, commensurate with our sparse population density, is the one thing that will ensure that we never blow the resources of the State on property speculation again… …

… So, let’s snap out of it. Why can’t we just mark down prices to where they should get to, take the bankruptcies and move on? Why should we be any different in coming to terms with the new reality?

The Greens could help achieve this competitive bonanza and protect future generations from being conned by the land and banking oligarchy again. It is their decision…

[roc]

That’s a lot of pinsense if you ask me.

[jrar42]

The crass stupidity (or corruption-related theft if you want to call a spade a spade) of NAMA neatly and succinctly summarised for ALL of the population, but especially those of the GP persuasion, just before their little get-together in Athlone this weekend.

Good article and great timing by McWilliams - I suspect he’s been holding this little baby back to give it to them with both barrels just when it will make most impact (hopefully)

So what say ye Greens - planet, party, or country ? - you decide !

[Duplex]

Using this **7pc yield **idea we can value a house at some multiple of the rent it generates. Typically, the value of a house was calculated at 12 to 14 times its annual rent. (The 12 to 14 times equates to a yield of around 7pc.) This relationship has held in the US for over 100 years. There is no reason to believe that this shouldn’t be the way to value Irish houses.

There is a reason David. Alan Ahearne found that gross rental yields in Ireland were in the region of 9% between 1980 and 1997. About 11 times annual rent, not 12 to 14 times.

Between 1980 and 1997, yields fluctuated within a narrow range around** nine per cent**. Yields then began to drop like a stone, as rents failed to keep pace with house prices. Although rents staged a recovery in 2005 and 2006, they continued to be outpaced by prices

*Alan Ahearne *

.

independent.ie/business/irish/rent-rate-reverses-signal-trouble-ahead-1052199.html

[Django_Returns]

Two excellent pieces in a row, he’s on fire!

[MadPad]

I think the Greens are playing their hand very poorly…The Greens have been given an open goal and seem determined to pass it up… I think Greens turn their back on opportunity is appropriate

Can you imagine if the Shinners (who I despise) were in power and had a conference like this where they got to say yes or no to NAMA… They would be demanding NAMA buy up the entire 6 counties at long term economic value… Or at least Derry and Tyrone and bits of Belfast!!!

[coc]

You’re right there MadPad. It’s the ineptness of the Greens I can’t fathom. They ought to be extracting concessions like a manic dentist in a non-flouridation country extracts molars. Do they even really believe in all that Green Agenda shite at all?

[bungaloid]

Why the surprise? The green party is simply the political wing of the renewable energy industry (i.e. wind power).

All other issues are peripheral to advancing the interests of this group. Their other policies are spin and PR, as required
to retain power on behalf of this lobby.

Watch for Green requirement that banks bailed out by NAMA must lavish finance on their buddies in this rip-off industry.

[The_Naked_Chef]

@bungaloid

Why the surprise? The green party is simply the political wing of the renewable energy industry (i.e. wind power).

All other issues are peripheral to advancing the interests of this group. Their other policies are spin and PR, as required
to retain power on behalf of this lobby.

Watch for Green requirement that banks bailed out by NAMA must lavish finance on their buddies in this rip-off industry.

That argument is a bit windy Bungaloid.

Allready left the building.

[the_edge]

the land and banking oligarchy

This is a classic turn of phrase by McW.

I will be using this regularly.

[MadPad]

Lets leave opinions on their policies out of it for a moment…

What are they playing at?

They surely must know that this windfall tax is bollocks, profits have already been made…it might be worthwhile in 20 years but will look pretty stupid in 2010.
If theres an election in 100 days, they are fucked anyways… they must see that blindly following FF wont help them…There is talk the govt will fall early 2010, so the time is now to be getting the blame game on.
If their TD’s start talking about policies and social justice and stuff, they may recover some ground. If they dont, they wont…
And blocking NAMA at a conference would really help them, give them a lot of leverage… Bottom line is if the govt can afford 60B for developers and banksters, they can afford to back Spirit or Ireland or whatever the greens want…

The only thing I can think of is the leadership reckon the party are all batty and are afraid to wake them up… Because if they wake up, they will vote no to everything… Even then it would be better for the leaderhip than what they are doing now… a few months of fucking Cowen over on NAMA wouldn’t play well with CIF, IBEC or the bankster boyz but would play very well with the average green

It just seems like they are broken men…

[PROFESSORI]

David, along with many Pinsters seems to be very conveniently forgetting that interest rates are currently at all time lows and are likely to go lower,this throws any valuation models from previous generations (when interest rates were many multiples higher)out of the preverbial window.

Throw in money printing,the subsequent hyperinflation and bubbles yer uncle.

Rental yield 3 or 4% on an asset whose price has been virtually guaranteed not to fall by the government and the ECB versus deposit interest rates of 2% or less means property investment is a no brainer.

Throw in a potential of capital appreciation as inflation kicks in and makes mortgage payments more afordable,it is really a one way bet.Welcome to servitude,twenty first century style.

[Duke_of_Westminster]

@PROFESSORI

David, along with many Pinsters seems to be very conveniently forgetting that interest rates are currently at all time lows and are likely to go lower,

Throw in a potential of capital appreciation as inflation kicks in.

Hyperinflation with low interest rates? Sorry PROFESSORI; does not compute.

[jake76]

@Duke of Westminster

@PROFESSORI

David, along with many Pinsters seems to be very conveniently forgetting that interest rates are currently at all time lows and are likely to go lower

,

Throw in a potential of capital appreciation as inflation kicks in.
High inflation with low interest rates? Sorry PROFESSORI; does not compute.

Should be “Das nicht compute”

[Duke_of_Westminster]

@jake76

@Duke of Westminster

@PROFESSORI

David, along with many Pinsters seems to be very conveniently forgetting that interest rates are currently at all time lows and are likely to go lower

,

Throw in a potential of capital appreciation as inflation kicks in.
High inflation with low interest rates? Sorry PROFESSORI; does not compute.

Should be “Das nicht compute”

Ja wohl, mein Fuhrer!

[roc]

@bungaloid

Why the surprise? The green party is simply the political wing of the renewable energy industry (i.e. wind power).

That’s what it is. I’ve been trying to get at this for a while. Thanks Bungaloid. Obvious really (once it’s been pointed out). Particularly with Eamon Ryan, I couldn’t work out where he was coming from. That’s it.

[Grassy_Noel]

It’s very simple and it’s called politics

There is nothing for the GP to gain by leaving government whereas they can at least push through some policies if they stay in.
They will have no seats after the next election and there is very little sign that any other party is waking up to the big Green issues so they are effectively forced to sit out the situation.

If the Labour party* were to suddenly adopt Carbon taxation and talk about renewable energy, improved planning regulations then that might encourage GP members to feel that the issues they hold dear will still be pushed through even if the Gov falls.
(* FG being a FF clone in terms of policy)

[What_Goes_Up]

@Grassy Noel

It’s very simple and it’s called politics

There is nothing for the GP to gain by leaving government whereas they can at least push through some policies if they stay in.
They will have no seats after the next election and there is very little sign that any other party is waking up to the big Green issues so they are effectively forced to sit out the situation.

If the Labour party* were to suddenly adopt Carbon taxation and talk about renewable energy, improved planning regulations then that might encourage GP members to feel that the issues they hold dear will still be pushed through even if the Gov falls.
(* FG being a FF clone in terms of policy)

That is the dumbest fucking defense on the planet!

We’re doing it for your own good! We’d love someone else to take this burden from us - but if it’s the Lord’s will…

Nutters!

[PROFESSORI]

@Duke of Westminster

@PROFESSORI

David, along with many Pinsters seems to be very conveniently forgetting that interest rates are currently at all time lows and are likely to go lower

,

Throw in a potential of capital appreciation as inflation kicks in.
Hyperinflation with low interest rates? Sorry PROFESSORI; does not compute.

Hyperinflation with low interest rates?

Are you having a laugh?

So do we have only high inflation under high interest rates?What exactly has caused the asset inflation of the last twenty years?It was interest rates set too low,do you think the ECB will protect the people of Europe from hyperinflation?Not a chance,for the last two years I have been reading predictions on here that the ECB is going to raise interest rates soon to kill off inflation,but inflation(according to the ECB) never arrives does it?Further cuts in interest rates are on the cards.

And it never will, when the inevitable inflation from the quantitative easing and money printing kicks in,they will say,just like the Bank of Enland is now,that inflation is low and thety have to provide a financial stimulus to prevent a recession.

The alternative is a complete collapse of the western economies from the default on the mortgages of the ludicrously overvalued properties on which they are based.This is why Lenihan et al are so determined to keep property expensive.They, like their counterparts across Europe,are merely pawns of the Banks that control them.

Banks can never be allowed to fail.Property can never be seen to be a losing bet.

Pinsters just haven’t got that yet.

Me and you(and other Pinsters) will be having this same argument five years from now.

[bungaloid]

@roc

@bungaloid

Why the surprise? The green party is simply the political wing of the renewable energy industry (i.e. wind power).

That’s what it is. I’ve been trying to get at this for a while. Thanks Bungaloid. Obvious really (once it’s been pointed out). Particularly with Eamon Ryan, I couldn’t work out where he was coming from. That’s it.

My pleasure.