Myhome Feedback Friday - Will Nama reflate property bubble?

[grasshopper]

blog.myhome.ie/post/NAMA-and-the-property-market-Will-it-just-reflate-the-bubble.aspx?cmpid=blog2509

Have your say on Property Feedback Friday on MyHome.ie

[Homemaker]

love the response to Keith Elliot (see 1st comment and 5th comment)

[Ivor_Lot]

@Homemaker

love the response to Keith Elliot (see 1st comment and 5th comment)

yeah I laughed at the fifth comment. Succinct!
I posted my tuppence worth. probably won’t make it past the moderators though.

[MyTwoCents]

I love Wishu werehere Bertie’s comment. We need an ‘in a nutshell’ smiley.

Basic economics in developed modern countries have a simple formula:

Overpriced housing = higher wages = price inflation = lack of economic competitiveness thus: sustainable affordable housing is good for overall economy

Basic gombeen politicans and the voters who support them have a slightly different model:

Overpriced housing = good for my pocket = end

[Coles2]

What a load of rubbish.

I posted a message listing the factors that would continue to lower prices and my message wasn’t listed. Think I’ll try again just for a laugh.

250,000+ empty units.
Massive unemployment.
Emigration.
Falling rents, falling yields.
Wage cuts.
Rising taxes, levies.
Contracting Public Sector expenditure.
Potential property tax.
Stricter credit control.

And the average home is still 6 to 7 times average earnings? 40-50% further to go.

NAMA has two main functions. 1) to provide the Irish Government with borrowings of ECB cash without breaching EU regulations, 2) to recapitalise the banks at the taxpayers expense. In five years time when you look back at the explosion in our National Debt, the additional 100 billion euro will be the cost of this corrupt FF government to you and your children.

[Ivor_Lot]

@Coles2

What a load of rubbish.

I posted a message listing the factors that would continue to lower prices and my message wasn’t listed. Think I’ll try again just for a laugh.

250,000+ empty units.
Massive unemployment.
Emigration.
Falling rents, falling yields.
Wage cuts.
Rising taxes, levies.
Contracting Public Sector expenditure.
Potential property tax.
Stricter credit control.

And the average home is still 6 to 7 times average earnings? 40-50% further to go.

NAMA has two main functions. 1) to provide the Irish Government with borrowings of ECB cash without breaching EU regulations, 2) to recapitalise the banks at the taxpayers expense. In five years time when you look back at the explosion in our National Debt, the additional 100 billion euro will be the cost of this corrupt FF government to you and your children.

It’s posted there now Coles2. In fairness they don’t seem to have censored the discussion.I am surprised.

[Pyramid5]

@MyTwoCents

I love Wishu werehere Bertie’s comment. We need an ‘in a nutshell’ smiley.

Basic economics in developed modern countries have a simple formula:

Overpriced housing = higher wages = price inflation = lack of economic competitiveness thus: sustainable affordable housing is good for overall economy

Basic gombeen politicans and the voters who support them have a slightly different model:

Overpriced housing = good for my pocket = end

Could we get that quote on a T-Shirt together with FF Ned’s comments on his Bank shares. It sums up the whole fiasco

[Homemaker]

Sorry it’s so long but stuff like this deserves to be read!

Post from Myhome

Yes I think Nama is great it will help to increase property prices back to the good value levels *e.g 750,000 euro for a ground floor one bed/studio appartment in North Co Dublin which represents good value for money. An estate agent told me this so it must be true. Also I think the Government are never wrong about anything. Also I think family should make a collection so their daughters can get on the property ladder. Wake up, house prices are on the up and you better have your money ready to pay the developers what they want, or else get out and leave room for all the people who are happy to take out mortgages for over a million euro if they earn a good wage say 20,000 per year. Also I think there should be a tax on people who are on low income or unemployed and the more money you earn the less tax you should pay. Unions should be stopped from having a say about anything and they should shut up. ALL the public sector should be saked and prevented from claiming dole. Dole should only be given to Developers and Estate Agents and solicitors who are the only people entitled to anything and everyone else should just go away and shut up.eThe Government is great and Minister Lenihan God Bless him knows what he is doing because he is a barrister and they know everything AND he goes to Mass so he must and can only be right about everything.Irish people should be proud of him and when on holidays abroad they should tell the savages in other countries that Ireland is the best place in the world to be and that we are all happy to pay extra to get the country out of the mess caused by unemployed people and spongers in the state. Schools and Hospitals should demonstrate how they are going to make money for the economy and what they propose to do about providing education and health care to people who live in nice areas of Dublin only and not be too concerned about anyone else at all. I think people should pay a tax to supplement the Developers costs in selling on proerty and also pay an enquiry fee to estate agents to cover their time in answering the phones to people wanting to buy houses. If you want to buy a house then you must have money otherwise you dont want a house or indeed need one. Just go away and let the house prices rise again so we can all live happily ever after and do what we are told to do by the Government so shut up and obey Fianna Fail and do what you are told. Have you no respect for Ireland? Stand to the NAtional Anthem of |Ireland and be proud to be irish because this is a great country and Brian Puberty is the funniest man in the world by virture of the fact that he is irish and has an edge over us all. Bono is great as well and he is good to the poor he tells people to give generously what more could anyone ask of bono than that. So shut up the lot of ye and pay up or get out.I am sure everybody will agree with me and Priase to Lenihan the great hero of modern Ireland who will save this country from the hands of spongers who do not pay or assist the developers and assist the BAnks. I think Mr Fingleton should keep his million euro after all he earned it and the rest of yiu did not. I think he should have been paid 55 million tax payers money just for being so nice alone and also the Financial regulator was terribly misunderstood.