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 Post subject: Re: CBI - mortgage rules won't be changed.
PostPosted: Mon Oct 03, 2016 2:06 pm 
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Not sure if this deserves a thread of its own.

The Central bank is not playing ball with the govenment's agenda to reduce mortgage rates.

Ed Sibley (Director of Credit Supervision) notes some evidence of a return to more aggressive lending practices and the pricing of loans relative to risk.


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 Post subject: Re: CBI - mortgage rules won't be changed.
PostPosted: Thu Oct 04, 2018 2:46 pm 
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Location: London, innit
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Social Democrats


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 Post subject: Re: CBI - mortgage rules won't be changed.
PostPosted: Thu Oct 04, 2018 2:58 pm 
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Of Systemic Importance

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The CB rules aren't some sort of morality or frugality test. They're designed to limit aggregate leverage in the system and reduce the risk of mortgage default by capping payments as a proportion of gross income.

It's almost as if politicians still don't understand the basic principles of banking.

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 Post subject: Re: CBI - mortgage rules won't be changed.
PostPosted: Thu Oct 04, 2018 4:37 pm 
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The Politicians know what they're at. It's easier to blame the Central bank on the problem than to point out that if they (the state) only built more houses they'd be cheaper for young people. However building more houses would depreciate the price of current houses which would piss off the current house owners which means less votes.

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 Post subject: Re: CBI - mortgage rules won't be changed.
PostPosted: Thu Oct 04, 2018 8:36 pm 
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So much for the highly principled SD's. As 5hit as the rest of them


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 Post subject: Re: CBI - mortgage rules won't be changed.
PostPosted: Thu Oct 04, 2018 8:53 pm 
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Location: Dublin
FreeFallin wrote:
So much for the highly principled SD's. As 5hit as the rest of them

I think with Donnelly leaving, they took a turn more to the left.
The “Irish left” though... which I feel doesnt really represents working people - more protecting wealthy elderly, public sector conditions, and increasing the social in an era of full employment. And having the lowest property tax in the developed world!

Sorry - just a bit cranky tonight! :-GC


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 Post subject: Re: CBI - mortgage rules won't be changed.
PostPosted: Sat Oct 06, 2018 12:47 pm 
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https://m.independent.ie/business/budge ... 64695.html

“The whole deposit thing is scandalous too.”

No. No, it’s not.


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 Post subject: Re: CBI - mortgage rules won't be changed.
PostPosted: Sun Oct 07, 2018 12:51 pm 
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FTBer wrote:
FreeFallin wrote:
So much for the highly principled SD's. As 5hit as the rest of them

I think with Donnelly leaving, they took a turn more to the left.
The “Irish left” though... which I feel doesnt really represents working people - more protecting wealthy elderly, public sector conditions, and increasing the social in an era of full employment. And having the lowest property tax in the developed world!

Sorry - just a bit cranky tonight! :-GC


Property tax is definitely left leaning.
There is no evidence that it is a root cause solution for Ireland's problems.

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 Post subject: Re: CBI - mortgage rules won't be changed.
PostPosted: Sun Oct 07, 2018 1:04 pm 
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Property tax is really the only way of screwing some money out of those who have paid off their mortgages, the fact that it also screws some out of everyone else is just coincidental.

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 Post subject: Re: CBI - mortgage rules won't be changed.
PostPosted: Sun Oct 07, 2018 2:20 pm 
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dolanbaker wrote:
Property tax is really the only way of screwing some money out of those who have paid off their mortgages, the fact that it also screws some out of everyone else is just coincidental.


Replace TRS by with a property tax deduction from interest payments. Up to a certain level only of course.


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 Post subject: Re: CBI - mortgage rules won't be changed.
PostPosted: Sun Oct 07, 2018 9:24 pm 
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Joined: Oct 12, 2014
Posts: 631
Location: Dublin
wii4miinow wrote:
FTBer wrote:
FreeFallin wrote:
So much for the highly principled SD's. As 5hit as the rest of them

I think with Donnelly leaving, they took a turn more to the left.
The “Irish left” though... which I feel doesnt really represents working people - more protecting wealthy elderly, public sector conditions, and increasing the social in an era of full employment. And having the lowest property tax in the developed world!

Sorry - just a bit cranky tonight! :-GC


Property tax is definitely left leaning.
There is no evidence that it is a root cause solution for Ireland's problems.

I totally agree that it’s left leaning in principle - but not the light-weight way that most Irish left leaning parties want to implement it!


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 Post subject: Re: CBI - mortgage rules won't be changed.
PostPosted: Wed Nov 28, 2018 6:19 pm 
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Latest CBI lending rules review leaves them unchanged:

https://www.rte.ie/news/2018/1128/10138 ... age_rules/

2018 review is available here:

https://www.centralbank.ie/financial-sy ... e-measures

There are the usual complaints from the usual quarters, but the fact is it has stopped the mortgage market going completely bonkers in the face of supply constraints.

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