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 Post subject: Re: Leo Varadkar offers to sell his apartment to NAMA
PostPosted: Wed Sep 30, 2009 8:32 am 
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I think this is a good idea by Varadkar. It demonstrates quite clearly to the avergage person who is in the same boat,what NAMA is really all about.


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 Post subject: Re: Leo Varadkar offers to sell his apartment to NAMA
PostPosted: Wed Sep 30, 2009 9:58 am 
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Leo obviously didn't see the crash coming. His economic planning ability doesn't seem any better than Brian Cowen or Joe soap for that matter. This is a bit disappointing considering Leo V is now turning into one of FG's leading lights. Let's hope his economic acumen has improved as much as his manners over the last couple of years.

Aside: Did he get a top up in 2007 for the election? Is that the reason for the 2007 valuation?


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 Post subject: Re: Leo Varadkar offers to sell his apartment to NAMA
PostPosted: Wed Sep 30, 2009 10:00 am 
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Ivor Lot wrote:
I think this is a good idea by Varadkar. It demonstrates quite clearly to the avergage person who is in the same boat,what NAMA is really all about.


How does it demonstrate what NAMA is all about? NAMA does not assume the increase in price that Mulcahy mentiones as referenced by Varadker. It is just more inaccurate "tosh" [HT - TUG :) ] that confuses rather than clarifies.


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 Post subject: Re: Leo Varadkar offers to sell his apartment to NAMA
PostPosted: Wed Sep 30, 2009 10:38 am 
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Posts: 811
NAMA buys loans, not apartments


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 Post subject: Re: Leo Varadkar offers to sell his apartment to NAMA
PostPosted: Wed Sep 30, 2009 2:07 pm 
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Posts: 320
daltonr wrote:
What the hell is someone on a TD's salary doing with a car loan.
And a front bench spokesperson at that.

For christ's sake Leo, how are we supposed to take you seriously
when you talk about the economy if you have a car loan?

How many perfectly excellent cars are there out there that you could buy
with a weeks worth of unvouched expenses?

-Rd


He got a 100% mortgage too. He mentioned this during an Oireachtas Committee hearing.


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 Post subject: Re: Leo Varadkar offers to sell his apartment to NAMA
PostPosted: Wed Sep 30, 2009 2:10 pm 
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He only hopped on the gravy train at the 2007 election, don't know what he did before then but I hope to God it wasn't anything to do with financial advice....

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I dream of a better tomorrow, a place where chickens can cross roads and not have their motives questioned


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 Post subject: Re: Leo Varadkar offers to sell his apartment to NAMA
PostPosted: Wed Sep 30, 2009 2:13 pm 
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Homemaker wrote:
He only hopped on the gravy train at the 2007 election, don't know what he did before then but I hope to God it wasn't anything to do with financial advice....

Nah, he was a doctor.

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So long and thanks for all the fish.


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 Post subject: Re: Leo Varadkar offers to sell his apartment to NAMA
PostPosted: Wed Sep 30, 2009 3:50 pm 
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Has anyone checked LV's numbers?

> Bought €350k, 2004
> Valued €500k, 2007
> Now worth c. €250k, allowing for a 50% fall from peak property prices
> Long-Term Economic Value (LTEV) €420k, using the formula outlined by NAMA chief valuer at to the Joint Oireachtas Committee on Finance


Are those figures correct? How does he get from worth €250k now to €420k LTEV?


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 Post subject: Re: Leo Varadkar offers to sell his apartment to NAMA
PostPosted: Wed Sep 30, 2009 3:55 pm 
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Larry wrote:
Are those figures correct? How does he get from worth €250k now to €420k LTEV?
He makes it up.

Just like Brian Lenihan.


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 Post subject: Re: Leo Varadkar offers to sell his apartment to NAMA
PostPosted: Wed Sep 30, 2009 4:13 pm 
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Look people, it doesn't matter what the figures are. he is using it to highlight something. he is taking a not untypical sceanrio. he may or may not have a car loan, he may not even live in an aprtment. Yeah,jonny I know NAMA takes over loans not apartments! :shock:
he is using the example to illustrate the wacky logic of NAMA. That's all! :roll:


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