Sindo: Trapped in a negative equity nightmare

Depressing reading. Pity she read the Sindo instead of the Pin.

At least it’s an improvement on last weeks “I’m in NE - but I’m happy”…

she comes across as the perfect celtic kitten, boy how the banks/developers/FF wish there were more like her around

The breakout fee of 6673 for what I assume is a 500k mortgage doesn’t sound worth mentioning either she got a good fixed rate or the sindo is out by a factor of 10.

Someone is going to have to name jobs to me that 26 year olds get that enable them to afford half million euro properties.

I was 26 when I came back to this country in 1999. No bank would allow me to get a mortgage of even 90 thousand pounds at the time. I went IT more or less in a job that I am still in. Even now I couldn’t afford a property that cost half a million and I don’t know anyone my age group in the company I work for who could pay that sort of mortgage on their own.

I see the car parking space as a blade of straw that may break the extremely parched double humped prespiring cammels spine, although it may seem like a minute discombobulation the carparking space is still a potent addition to the sum of sufferance this unfortunate Singleton is compelled to endure untill 2030. Im afraid this girl may be left with a permanent strabismis.
In others words “I stopped buying the sindo years ago and from this moment on will never again click a link to the latter”

Jesus. 26 to 66. Mortgage finished on retirement likely with under provided pension.

Could be a coincidence but is their not a Journo with The Independent / Sunday Independent with the same name :question:

Ah yes, they mentioned during the week in another article about one of their own journos being in negative equity…

Half a million mortgage, how much do these guys earn? :open_mouth:

I wonder did she take Brendan O’Connor’s advice?

It must be awkward when they meet at the photocopier.

Very fancy writing all the same, and there is me thinking an ex estate agent wrote it, well assisted in some way most likely the wording . I think they call it up selling in America.

Of course being the Sindo, even in an article about negative equity, they just couldn’t help themselves from pumping another development. :angry:

Well in fairness, 450KE for a two bedroomed apartment is astonishing really. I am stunned to think anyone would still consider this worth the money. I mean, for 450K you’ll get a three bedroomed house in Dublin 9 with a garden and no management fees and private parking. Nothing is going to make buy me a two bedroomed apartment in the city centre for nearly half a million under those circumstances.

I was thinking the same thing.

Posts by T-B-M and markf suggest that she is one of the journos with the sindo. if this is the case then Fingers might have had a hand in getting her the mortgage 8DD :angry:

this is…not exactly prudent either. Unexpected windful via lower repayments? Stash the money into a bank account and accumulate a lumpsum to knock off the principle at some stage. Or over pay if you can.

Today, if a single 25 year old FTB was looking for 92% loan on a 525k property they’d have to be earning 113k. And that’s over 35 years - can’t seem to get a quote for a 40 year mortgage on line.
(source mortgages.ie)

this is crazy.

That myth even got discredited during the boom. As your apartment is also rising due to inflation so is the house in the 'burbs. What saving are you making exactly? Conversely your apartment price has fallen and so has the price of the house in the 'burbs.

Prices had been falling since 2006 by that stage, the central bank was promulgating the soft landing theory at the time, they had abandoned all mention of this by mid 2008. Never mind the central bank, this óinseach ignored her parents and did not even do basic calculations such as “rent vs buy”, which would have made perfect economic sense given her five year timeline to move to the 'burbs and have kids.

What nightmare? she is living the dream she set out to, surely? We’ve had a few balmy evenings lately, ideal for barbecues…
I know I’ve enjoyed several this year, and today I can sit in the back garden with a cool drink and enjoy fresh picked strawberries and raspberries as the scent of jasmine wafts over the garden. Am I bothered that my neighbour negotiated a lower rent? Not at all.

Have a nice day,
GB 8DD

It’s one thing to pay €525k for an apartment in 2006 when the world and its cousin were shouting “buy buy buy”, but it’s a completely different kind of gamble in 2008, when the world and its cousin were shouting “don’t buy don’t buy don’t buy”.

You’re forgetting the part where she says she comes from a leafy suburb in Rathmines.

Junior doctor is about the only job I can think of where a 26 year old would earn €100k+, but I don’t think there are any hospitals within 10 minutes walk of the docklands.