New tax-cut plea as house prices tumble - Independent

“In comparison, Slovakia recorded a 29pc increase in real terms, followed by Shanghai (28pc) and Hong Kong (26pc).”

Quick, everybody pile in to the latest sure thing!!

What planet is this guy on? My guess would be planet Stupid.

Is VAT on new houses 13.5%? According to the PTSB, FTB average prices were around €250,000 in MArch - which would be inclusive of VAT. So that means about €30,000 in VAT per FTB house bought.

So how large is this tax break that Tom wants to give in order to “free up” this €1bn from the pockets of these FTBers? €30,000 per couple maybe? :unamused:

Enough with the shovels, bring in the JCBs to deepen the hole.

Here’s the link

independent.ie/national-news/new-taxcut-plea-as-house-prices-tumble-1416001.html

The ultimate kick in the teeth for the financially prudent.

Give the man his due - he’s committed. His weekend hobbies must include pushing treacle uphill with a fork.

“seeking tax relief for first-time buyers” - he really is keen to get the construction sector bank up and running. But isnt this statement a bit misguided? it would seem a further tax relief for FTBs wouldnt help them. Surely this would get the market bank on its feet and stablise pricing. The current falling prices will do more to help FTBs?

I love this stuff, the tax take is going down, the gubberment wasted millions and millions on tax breaks to developers, builders and property speculators and as a result the coffers are empty and the first time golden goose has done a runner.

Now the cif want more tax breaks, we maybe about to see one of the few times a FF gubberment says no to the builders (when they have no option as theres no money) but the fact they have the balls to ask for it just proves they dont give a f*** about this country or anyone in it “just give us your money and F*** off” seems to be the attitude".

The ships sinking lads women and children first (after cif members). :unamused:

Damnit my pension is in negative equity too, where is the Pension Industry Federation in all this.

I hope also that this was just poor journalism because I have no idea why someone in negative equity should need financial assistance. “Honey our house is worth less, what are we going to talk about at our dinner party”

Stimulate the market so house builders can clear the backlog and get started on building more new homes?.

Or

Stimulate the market giving house builders one last chance to get the feck out while they still can?.

You decide.

I don’t like the sound of “very advanced stage” in discussions with the Department of Finance" , great, so our cash strapped government will spend the little money it has on more fucking houses instead of roads, hospitals schools etc…sure why would we need them!

I’d say the very advanced stage for the CIF is “Go on go on go on go on go on go on…”

There’s no stamp duty on most (<125sqm) new houses anyway so how’s this going to help the developers, unless they’re panicking and now want to offload properties they rented out which are now classified as 2nd hand.

Busy calculating their management fee and commission while they draft the latest version of “take a long term view” :wink:

Its odd alright, or maybe they are trying to stir up general unrest so they can get their stuff offloaded easily. By pullout up the stamp duty fears again they may get the landed gentry to start calling on the government to “fix the market” (having typed that I see their is a double meaning in that phase, both of which are valid)

Nothing to do with HIGH prices then!!!

Is this Tom’s secret job!!! Or are CIF really the revenue in disguise…hhmmm.

Welcome back Tom. New day, same old shit.

First Time buyers don’t pay Stamp Duty Tom.
Do you want the government to start PAYING stamp duty?

Dept. of Finance officials have called Gardai to tell them that there’s a crazy guy on the street outside holding a Ghetto Blaster above his head begging them to take him back.

That’s a new low Tom, even for you, and that is saying something.

Oh! not Labour too. Can anyone find a quote from Ciaran Lynch from 2006 or earlier telling First Time Buyers not to buy? No you can’t. But if you look here, you’ll find him peddling the Ladder Hysteria:

Should this current situation continue unchecked into the future, it will lead to an ‘appalling vista’ all of its very own. As the cost of housing in relation to salaries is now going up so fast that we may soon arrive at a point when young couples, both of whom are on a decent wage, will find that no matter how hard they save, they may never get on the property ladder.
labour.ie/ciaranlynch/news/2 … 15941.html

And where’s Ciaran’s thinking today? Now that house prices are coming down to presumably more affordable levels?

Make up your mind Ciaran. Houses are too expensive or they’re not.
If you tell people that they can keep the profits, but their prudent neighbour will bail them out if prices fall what will happen? The very unchecked house price increases you claim to want to avoid.

Unless of course you’re just a populist leaf that will blow on whatever breeze of public opinion that happens along. At least Tom is consistant.

-Rd

Ciaran shows promise as a software analyst :wink:

There is stamp duty for investors. Maybe they’re trying to lobby for changes which would encourage them back into the market.

What happened in Latvia that led to the price collapse?