Property bailout to be part of budget: Indo

This is the lead story in tomorrow’s Indo. It is dressed up as further support to FTB’s. They had the morning papers on Vinnie Browne on TV3. Brendan Keenan was on the panel and he gave some insight into it.

The story is based on some scam Country Tom came up with !

Anyone know where I can get a rifle & a telescopic lense after midnight ?

Is it time for the pin to redress thepin to redress the balance or shall we continue to just talk and gaze into the fog of the future?

The only property bailout worth considering would be a special savings scheme for FTBs to save their 20% deposits tax free .

Anything they can do, we can do better eh?

Wonder if Cowen will get slated by the Irish media in the same way that Brown has been criticised today for his token gesture aimed at restoring his popularity. Rather unlikely. … mp1002.xml

We’ll probably get something more like this :unamused:

What we need is 100% confidence to give people a 100% mortgage

Professor John Fitzgerald of the ESRI, who was also on the panel, didn’t like the idea of further government intervention in the market. He said that it would be better if the market corrected quickly, and that the proposals would only serve to drag things out. Interestingly while discussing the housing market he suggested that prices would fall by 50%, before speedily correcting himself and reverting to 30%.

I’ll join you in the search!

If they do do, does anyone else not find it weirdly contrived. Predictable? 9as we have proven here…)

Both in the shadows of hugely popular & controversial leaders, spanning 3 terms only to become leaders as a righ of passage on the cusp of change… both formerly finance ministers or is it just symptomatic of the point we are at in a peculiar era.

Why was Charlie Mac and our Attorney General at the last bilderberg conference. The mind wonders …

If someone can get two good fast solid car with false plates I could arrange “an unfortunate accident”. :wink: :wink:

I’ll be on red dot watch during the Live RTE news bulletins, moby in hand and the Puzzle palace on speed dial! :open_mouth:

So how is this bailout going to be dressed up? And how much will it cost us?

But more importantly is the government going to yet again mess with the market and make this necessary adjustment more prolonged than it needs to be?

I think the kite flying by Country Tom around money for ‘fixing up’ houses to improve insulation etc is going to happen.

I think the BER requirements are going to be shelved for a year, because they’ll just show what shite the CIF has been building for the last umpteen years & make it impossible to shift old stock.

Stamp duty might get messed about but they’ll do it in a way that benefits the developers, not 2nd hand sellers or buyers.

TDs will probably, ( on the face of it ), take a substantial pay cut > 20%. Of course they’ll tweak their expenses so they don’t see any loss of income.

You should go up for election.

Excellent proposal.

FTBs want lower prices, not elaborate scams.

Actually I think you have that half right. BER will stay and they will give CIF a nice sweeter because of BER and say go ahead lads green it up a bit aren’t yis great… sure they needed a bit of an incentive/tac break to help them get to grips with de BER… but they’ll never get to grips with the BEARS here! :blush:

Anyone else get the sense that chaos is now reigning supreme in official circles?

We must remember that those in positions of power across the entire spectrum are now faced with the reality that everything they have ever believed in may actually have been wrong. Not theoretically or possibly as with previous social implosions. But statistically and factually incorrect. There is no precedent for this in Ireland. We have never seen such a squandering of riches before.

We are truly at a cross roads…

Their friends made tons of cash.

The bail out for the CiF people. Didnt they make the most money during the boom?

I hope they realise that their bullshit does stink.

from todays Indo
“Charlie Fergus (pictured right), from Bundoran, Co Donegal, said: “They are welching on agreements on a large scale.”” in regards to angry developers. What guarentees were being made to them? The whole thing smacks of collusion.

The free-market advocates at Davys have a few ideas…

by Rossa White

I feel sick at the thought of these FTB “incentives” , purely designed to get FTBs to buy at over-inflated prices. My only comfort is that it probably won’t work. With this level of effort to make people jump on the ladder, any sane person would have to be suspicious. As the Motley Fool in the UK said yesterday, the builders’ (or in the UK government loans) for FTB deposits would be more aptly named “Negative Equity Direct”. Let’s hope people have more sense than to fall for this bull.