"I've made a submission to the Minister for Housing&quo

This thread’s a good read as to what’s going on in D15…

neighbours.ie/dublin15/showthread.php?t=707
post #11

So what would the Batt man do with a letter from “Elaine”?

What part of this am I not understanding?

  1. It was the height of a housing boom
  2. The government was in the arse pocket of the builders trousers.
  3. These people bought houses at a knocked down price, and the
    government used tax payers money to make sure that builders still
    got their over inflated profits
  4. In return the government kept a percentage of these peoples houses,
    as much as 28% in some cases it seems.

These people have now figured out that the value that the builders and the government jointly agreed to put on the house might have been a bit on the high side. (Why is anyone surprised by this?).

Tax payers money transferred to builders under the guise of a scheme to make houses affordable. Government policy favours builders over homeowners. Again, why is anyone surprised?

Now the people who bought these houses want what? Money back?
Cop yourselves on. I’m the one who should be pissed off here. At least you got a house (albeit not 100% your own, and with years of co ownership still to come, but you knew about that when you got into it, and made your choice.

I didn’t have any choice when my tax was stolen by the government and gifted to the builders.

I don’t think these people have a leg to stand on. The whole affordable housing scheme is a sham, it should never have happened. The same people who were promoting affordable housing were also cheerleading the house price increases that made houses unaffordable in the first place.

It is INSANE that young professionals on decent salaries are having to be supported by a co ownership scheme, on top of Stamp duty concessions, and Mortgage Interest relief just to make it possible to own a house.

Remove all the publically funded supports for house prices and they’ll become affordable all by themselves.

I hope a lot of people get burned by Affordable Housing because it might open their eyes to this crazy situation.

Although it’s sad that all they seem to care about is making sure that their cut of the pie is big enough, instead of questioning the whole concept of artificially inflating house prices for the benefit of the goverments pals.

-Rd

Most likely fob her off to some other ministry or blame the council/AHP. A thinly veiled washing of hands I suspect. What else could you expect from a minister for housing that commented recently that rents rising was a good thing. Someone else here correctly called him the minister for home owners. Then again he might comfort her by telling her that she was privaliged and or lucky that she is joining the ladder.

Reading through the thread on this site though I can’t help feel both pity for the buyer, matched with my anger with people for buying into the idea that a terraced house valued on the market at 410,000 at the time when this person signed the contracts, is considered then to be affordable after a 28% discount. I know some people might think that such a house at the final price that is going to be paid of 295,000, after the price reduction, may seem like value but to me it just reinforces my disbelief at how far this HP madness went to put it mildly.

This crazy situation that the buyer has been saddled with is part of the ugly coal face of FF’s bail out of developers and it’s wider attempt to cover over the cracks in the economy by artificially attempting to prop up prices through it’s AHPs. I said that this would be the case because I and others commented in early 07 that there was growing evidence of the buying up of empty developments particularly in the run up to the election. That practice appears to have continued since the GE judging from threads here and on other sites. I have also said before that it’s the ordinary joe’s that are going to suffer most in the melee to follow. I don’t say that with any semblance of glee or told you so! but the fact that this was being played out at the same time as our esteemed leadership was and still is in the dock for being a little too close to developers is a little ironic. As is almost invariably the case it is going to be the ordinary people that will get totally screwed by the fallout from FF&Co, their friends and minions greed.

This sort of incident on neighbours.ie makes me feel nothing other than contempt for the shameful way that politics has continued to be sullied in this country under FF and for it’s policies consequences, through excessively rewarding a close set of their supporters by allowing them to rip off at will, the ordinary worker they are supposed to also represent.

Indeed.

Let’s

  • Abolish all the stamp duty concessions like FTB etc. (and move to a single modest flat rate - say 2%).
  • Abolish mortgage interest relief (also abolish rental relief - pittance it is)

I fully agree. Here’s hoping the affordable housing oxymoron collapses under its own inherent contradictions soon.

housing scheme I think it must be some kind of joke that they set a market price of 325k for a 2 bed in Academy Square in Navan that makes the “affordable price” 227k. I am really more than willing to stay in Ireland although everyone especially at home in Germany are telling that things are changing for the better there and I should avoid to get stuck over here. Maybe they have some point as this still is a very unfair price. I am sure the government likes the money that is coming in that way but they should also be aware that the current property prices (also the rents) make it much harder for the companies to get the required workforce over here when companies like google or Ebay move out they will get into some trouble here might be that the 2beds in Navan are selling then for 160k without affordable housing what would still be a high price

check what you get in Berlin for 114k:

daft.ie/searchinternational_ … search=1&s[country_id]=21&s[mnp]=&s[mxp]=&s[search_type]=international_sale&s[refreshmap]=1&limit=10&id=575273

Pulling the legs out from families struggling to keep up with payments does not sound like a sensible or even human approach to take.

I was on the affordable housing list(scheme) for a yr, put on local list in Blanch in about June '06. Straightaway i was offered a 1bed apt in Balbriggan for the princely sum of 126k, i declined for obvious reasons like 20yrs stuck in a hellhole(not balbriggan but in a tiny apt!) and that commute despite telling them i work in Blanch 15miles away!

That was my first suspicion of the whole AH thing (Plus buying at the peak and mgt fees of nearly 2k pa for 20 yrs with no negative equity protection scared me off the whole thing.) and about the same time i discovered the sentiment thread on AAM (there is a god! :laughing: )

After a few months, got a phone call from a lady in the council, 'i can offer you a 2bed apt in Finglas(Meakstown) for 156k(50% clawback). I kindly asked without intention of buying would it be furnished after( if) i put a big deposit down, she said no, did the maths on the phone and came to the conclusion i’d have zero savings and have to borrow as it had to be furnished. Ya wan’s reaction was ‘Oh yeah, that’s right’!! …She was either stupid or cunning to get me to buy into debt.

Of course if i did accept it, i’d be in exact same position regarding valuations like in Phibblestown. The council only offered apts which suit short term needs only for single people, a big mistake on their part and the buyers.
Agree with the above that it is a scam to really get as many people into buying seriously overpriced apts helping builders shift stock, leave the purchasers there paying off the councils share for 20yrs hence council gets dosh from people being stuck in negative equity. Of course this wasn’t an issue during the frenzy as an AH gaff could be shifted very fast with profit for the seller on the open market but its a totally different and dangerous game with falling prices.

The councils attitude to it is nothing to do with housing need but the big flashy sign of the euro hence their lack of movement on the high valuations thing.

Not sure if people would agree but did we not have something similar when people bougth Eircom shares.

Nobody forced anyone to buy when they did but when things turned for the worse people started complaining?

Its not like it wasnt made clear about clawback and price rises etc… just people didn’t want to look into the details fully…(i.e what if prices dropped)

I know its a long time but the clawback only matters if you want to sell before 10-20 years…

You can abolish it for all new purchasers. Phase it out over 5 years for those who currently have access to it.

The value of all all these “subsidies” just gets priced into the asset, so they are a complete waste of money and their only outcome is to make the asset price higher than it would be without the subsidy.

The AH buyers were hardly unique in that aspect :unamused:

Good luck with that then. :unamused:

so you can only get forced to sell within the 1st 10 years e.g. when your job/company is moving to Romania or to White Russia :laughing: can they get you for borrowed money when you are in White Russia or do you face bankruptcy because of your affordable home?