Nama to release 2,000 vacant properties for social housing

Heard this yesterday but didnt see it posted,

Any one guess where these 2000 properties are and how they will be distibuted

Read more: … z1hFT0mQKa … 33139.html

And it is about time . On one hand you have the government sitting on a massive property portfolio of empty property while the other hand has 98,000 on a housing list .

All so very very wrong.

Which part?

What really amused me was the kneejerk response of Threshold - “it’s not enough and too little too late, councils need to be more propactive…blah blah…most vulnerable in society.- switch off”, talk about lobby group ingrates.
What did they expect?
How about something positive in response -but that might threaten their status in the hierarchy of “most vulnerable in society”.
This place!

Also, as far as I understand it there is no social housing waiting list. There are 30 odd individual lists maintained by various LAs and other bodies.

Whilst there may be 98K entries on the combined lists, the distinct number on a collated list would be much lower. That’s without removing redundant entries (emigration, change in location, change in circumstances, marriage, death).

There is a waiting list by design.

A Philanthropic NAMA.

NAMA has property.
Social Welfare needs housing.
What could possibly go wrong ?

‘The cheapest social housing in the world … so far’

most of the people who work for a living won’t be a beneficiary of this bankrupt Regime’s largesse as they don’t qualify for the housing lists.

Haven’t you heard? Working for a living is now officially demeaning for, “the most vulerable in society.” It’s just not fair to ask them to contribute anything. Instead, we give them extraordinarily generous Welfare and all the benefits that goes along with that. Then we give them free housing and exempt them from any property or household taxes. It’s win, win.

I think a chart or poll to determin exactly who “the most vulnerable in society” are - based on the claims of their highly paid lobbyists! … 33139.html

So that means NAMA controls c.10,000 residential units.

The average house price is now, what, €200,000 or something? €200,000 x 10,000 = €2b. So NAMA owns c.€2b worth of completed housing units in Ireland. Assuming, that is, that units NAMA are prepared to give to SH are worth the full average Irish house price. Which seems unlikely.

Was it €30b NAMA paid for all loans? Even allowing for reasonable returns (i.e. breaking even) on its UK portfolio, and other assets it owns (land banks mainly presumably), the gap between income from actual units they can sell and the total liability (ex. recap money) is massive. NAMA is going to lose a bloody fortune. I dunno, off the top of my head I’d say it’ll be doing well to make back half of what it paid.


Leave the properties as they have been going… to auction and let the working pay the price for them and get value for THEIR money not the County Councils so people can have a free gaf!

The more benefits and new houses people hear of that are coming on the market the more people sign up for this social housing… They won’t work because it’s “not worth their while”!

Does anyone know how this will actually work?.. It would seem to me that Nama have these houses on their books as an asset and they are surely not going to just hand over an asset to the councils without something in return. If only to balance the books. will this mean that the taxpayer will be paying something for them again… Hmmm this is Ireland, don’t answer that one I think I know where this is going!!!

Revenue Stream :sick:

I am very interested in the social implications of this. Who decides what apartments will be released, I would imagine they range in quality from The Elysian in Cork to some pretty crap hole in the arse end of nowheresville
Then if I am a private owner in some “Good” development will the value of my property fall if it is now semi populated by social housing people.
Btw most of my friends, cousins and relatives were all from social housing and nicer and more decent people you couldnt meet, but that was in the 60s 70s and doesnt escape the “worry” some owner occupiers are probabl feeling tonight.
So it would be interesting to see what apartments are actuall involved

It will be decided on how you voted in the general election… You will get two houses if you hit the campaign trail. Obviously FF voter will be out in the cold, literally.

Struggling to service a negative equity jumbo mortgage and living on a ghost estate?
Soon you’ll have plenty of new neighbours.
Plenty of all night, drink and possibly drug fuelled parties to attend.
They’ll only be paying a few euro a week towards their place, compared to your couple of grand a month, so you might get away without bringing your own beer (or hash).
The only problem might arise when you have to get up at 6am to commute to your job 60 miles away, and they’re only going to bed, but most of these parties will be on the 3 nights following “pay day” on Friday, so you should be grand.
Your kids will be happier too. They’ll have new friends to play, vandalise cars and smoke hash with. You used to worry about your daughter being so lonely? Now she’ll be busy every night, and when she’s 14 you’ll notice a little bulge, and within 9 months you’ll have a bundle of joy to cuddle while his father is out breaking into houses or down the community welfare office with his ESB bill.

Ireland in the 21st century. Truly a heavenly place.

[Adapted from first hand experience in Edgeworthstown, Co Longford]

That’s a steretype wtih quite a bit of truth. I think one more lesson we can take from the bubble is not to by until your house/apt is built, all the grounds completed and everybody moved in and you can get a feel for residents.


Adapted from first hand experience in a private estate in SCD!
Free House = No respect for it or their neighbours
Place looks like shit & Brings down the whole look of the area :frowning:

Get rid of the Rent Allowance and Private Social housing if there are no council houses available then they can live with their parents…

Should’ve thought about housing before yas had kids!!!

That’s my MOTTO!