The FTB in the eyes of the CIF is a sacrificial lamb that will be bled for the next 35 years (according to their advice, anyway) while their ‘investment’ will turn out to be an empty promise, not the pension they were looking for…
this whole homefacts.ie website borders on the criminal.
Their untruths are pushing the limits, though, looking at the example of renting vs. buying in topic below.
I didn’t go through the entire site, but I’m sure you’ll find there is more than a few assumptions to make things see a hell of a lot rosier than they are. In my opinion this is criminal because I’m quite sure the CIF is aware of what Ireland is going to go through and are just trying to squeeze the last bit out of the market before it truly goes ‘kabloof’…and 'oops, how could we possibly foresee that!?"
Mortgage interest rate of 4.99% for 35 years is used in 5 out of their 6 examples of Buy vs Rent.
Rents seem to have been inflated in all of their examples.
Maintenance/Management Fees have been excluded from all of their examples. Meaning that conclusions like “This property is potentially cheaper to buy rather than rent” or “Only €52 more than the rent” are for want of a better word…LIES.
Nah, it’s just the CIF attempting to grab the entire market by the balls so they’ll have complete control over who gets to build what, where and when. They want it so a developer won’t be able to lay a block without “authorisation” from the CIF. The CIF know work is going to be extremely tight – they want to get rid of anyone from the market who doesn’t conform to their way of thinking.
That’s just spin. Leaving out management fees, fair enough these can be a high cost. But then they also leave out the cost of building insurance (on a house) etc… It’s hardly “criminal” though is it.
I think it is criminal because at the end of the day anyone purchasing property will probably be pinned to their collar for forever and a day whereas renting keeps options open.
I also agree that the CIF are trying to control the market and would add to this that as an organisation they have probably had one of the worst ever pension schemes for members I have ever seen, you could’nt keep a pet on it never mind live on it.
It would seem that they may have more interest in themselves than their members.
