Board index » The IRISH PROPERTY BUBBLE » The Golden Circle » NAMAwatch (Pt. I)

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 Post subject: Re: Operation Phase I - DIY (No Money Up Front)
PostPosted: Thu Aug 27, 2009 11:33 am 
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Posts: 1914
BrendanG wrote:
Just got this reply from a FF Senator seems FF are saying that there is no market price!

Quote:
What evidence does NAMA have that the current market price of property, land etc is in fact the incorrect price to pay?

There is no “current market price” for land and development projects because there is no market for these activities at present. Purchases of land and development projects are mostly financed using bank loans. But banks are not making new loans for land and development because past bad loans are clogging up the banking system. This means there are no buyers.

That is not true! Properties are still being bought and sold, as long as they are properly priced. Banks are still lending out money - my local bank tells me that they issue about 2-4 mortgages a week.

Again, there is no “current market price” for land and development projects because there is no market for these activities at present. There IS a current market price for land, but the developers generally won't take anything less than what they wanted for it some years ago.


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 Post subject: Re: Operation Phase I - DIY (No Money Up Front)
PostPosted: Thu Aug 27, 2009 11:35 am 
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What's interesting about the Senator's reply is that you get all the Government spin and waffle in one place. Now that we know their "spin", we can negate its errors.

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 Post subject: Re: Operation Phase I - DIY (No Money Up Front)
PostPosted: Wed Sep 16, 2009 5:54 am 
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BrendanG wrote:
Image

Bombs away!


Here is the actual result of the "Preferendum" at the recent Green Party conference in Athlone. It has just been released to the members. While it is true that the largest number of points went to an option favouring a version of NAMA, this still represented less than 25% of the support, and the support for ANY version of NAMA was less than 40%. Furthermore, the version of NAMA that was favoured was one that incorporated CURRENT MARKET VALUATIONS. (Whether this could be called NAMA at all is a moot point.) It's all to play for, folks.

O P T I O N S Points [Consensus co-efficient]
A MARKET FORCES, BANKS MAY FALL, FOREIGN/STATE/IRISH BANKS MAY BUY, OR GREEN BANKS 411 [0.49]
B NAMA AS IS 387 [0.46]
C NAMA + BANK REGULATION + PARTIAL NATIONALISATION + MEASURES AGAINST SPECULATION ON NAMA ASSETS + RISK SHARING + CURRENT MARKET VALUATIONS + GREEN ECONOMICS* + SOCIAL QUOTIENT 657 [0.78]
D “THE SWEDISH MODEL” MULTIPLE AMCs WITH INSOLVENT BANKS PLACED IN PUBLIC TRUST 563 [0.67]
E “GOOD BANK” 369 [0.43]
F TOTAL NATIONALISATION; TRUSTS RUN LOCAL BANKS 383 [0.45]

* GREEN ECONOMICS MEANS ALL SUGGESTIONS ON TRANSPARENCY, SOCIAL JUSTICE, PROVISIONS FOR THE POOR AND THOSE ON NEGATIVE EQUITY, SUSTAINABILITY, A ‘NO-GROWTH-ECONOMY’ AND THE PLANNING ACT.


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