RTE Current Affairs show looking for people in negative equity

RebelLucanRente

Well OP, I'm interested to hear your opinion on the reply's you received. Does it not seem the more relevant path would be to investigate the vested interests who pumped the property bubble up and who are currently trying to call the bottom and return us to the bubble mentality that got us into this mess?

Of course not. That would involve far too much self examination for RTE. Turkey's do not vote for Christmas.

I suggest you go elsewhere and find someone else to do your lazy, facile journalism for you. Doesn't look like anyone here is biting.

Trampas

I see this thread made the metro this morning.

oceanclub

Trampas wrote: »

I see this thread made the metro this morning.

Ooh, can anyone scan/quote it please?

P.

mickoneill30

frontline wrote: »

For our first show on September 21st we are looking to get in touch wtih people in negative equity who are angry at their situation and would be willing to chat to me about it.

How about people in negative equity that aren't angry at their situation. I bought a house I could afford. I'm living in it, and my mortgage interest has gone down. I'm happy. I'd prefer if the house was worth more but it'd make no difference to me now.

Now if I'd bought it to make a quick buck without researching properly beforehand, I might be disappointed

mickoneill30

oceanclub wrote: »

Ooh, can anyone scan/quote it please?

P.

It's online.
http://e-edition.metroireland.ie/2009/08/14/

Blowfish

oceanclub wrote: »

Ooh, can anyone scan/quote it please?

P.

I don't have it with me, but can remember some of it. They quoted a couple of the negative comments towards the show (including your 'Jerry Springer' one) which was interesting. They did leave out through any of the quotes which gave reasons why people were reacting negatively, which was a pity.

[edit] Beaten to it

AARRRGH

oceanclub wrote: »

Here's the kind of treatment given by AAM to those who, after getting themselves into trouble by bullish sentiment, return there to ask advice:

http://www.askaboutmoney.com/showthread.php?t=114281

He's also chaired the Consumer Panel of the Financial Regulator at the same time as banning people from his website for talking about property prices.

Of all people, Michael Fingleton made an apt point:

http://www.independent.ie/business/irish/chairman-and-dissident-go-head-to-head-1362559.html

Didn't someone discover that Brendan Burgess was a significant shareholder in a few Irish banks?

Could explain why talking up the market is allowed, but talking it down is not.

godtabh

Paulw wrote: »

I bought near the end of the boom.

I'm most probably in negative equity.

Am I angry??? No. I knew the risks. I knew prices could go up more or could also go down. I budgeted on what I could afford (even factoring in a 2% rise in mortgage rates above what they were at the time). Thankfully mortgage rates have dropped, so my mortgage payments have also dropped.

No one forced anyone to buy. I was renting, and decided it was time to buy. I should have done it 2 years previous, but I was lazy. But, now I have a property that I really like, and I've no plans on selling for now.

People need to grow up and take responsibility for the choices that THEY made. They have no one to blame but themselves.

I was more or less the same.

I remember when I went to by a house I was being offered home loans up to 10 times my salary. That was irresponsible lending and I knew it but not alot of people knew it. If the banks were regulated properly and specific criteria for lending were agreed upon and stuck to I dont think we would be were we are now.

Every one is to blame. Some more than others. People I blame the most is the media.

My mortgage is about 5 times my salary which i believe is a decent ratio. In the end I bought some where beside a transport hub with large stable employment within a 2 mile radius. Great if I ever decided to rent it out. Could also be a benefit I decide to sell but that wont be happening any time soon as I’m happy where I am.

ntlbell

would someone mind copy/pasting the article?

AARRRGH

ntlbell wrote: »

would someone mind copy/pasting the article?

I read it, it's literally someone says the show sounds like Jerry Springer, and someone else says it sounds crap.

The reference to boards.ie is only about one or two lines long.

oceanclub

Here's an idea; why don't RTE, instead of coming up with programme ideas themselves and _then_ asking the public to merely appear, actually seek public advice as to what kind of programmes they want?

From this thread, it looks like people would like to see a discussion on property - but not just a one-sided one consisted of people in negative equity ranting.

RTE did "Future Shock" which they should be congratulated for, but it hardly begins to balance out the hours and hours of property shilling the channel has done.

P.

J-blk

ntlbell wrote: »

would someone mind copy/pasting the article?

Here it is - emphasis mine, to highlight the part where this thread is referred to:

THERE were plenty of programmes to look out for – and, as usual, plenty to go out for – in RTÉ’s new season line-up, unveiled yesterday.

As Ryan Tubridy makes the short trip to his new desk on The Late Late Show, predecessor Pat Kenny’s fate will be on The Frontline, a new current affairs programme which, between selected guests and a studio audience, promises to ‘instigate lively debate on the most important news stories of the week’.

One researcher from the hard-hitting programme was already trying to round up audience members on Boards.ie, whose request for angry
homeowners in negative equity was met with such replies as ‘Will Pat be
discussing his property-related grievances?’, ‘This sounds like a step
above Jerry Springer’ and ‘We already have Joe for such things’.

On the factual front, the new 2009/2010 season sees Charlie Bird
making a programme about Charlie Bird called Charlie Bird’s American
Year, in which RTÉ’s newest Washington correspondent takes us through ‘an extraordinary year in American and global politics’.
RTÉ’s comedy line-up is perhaps the most promising, with comedians
Jason Byrne, Maeve Higgins, Dave McSavage, Karl Spain and PJ Gallagher
all bestowed with their own brand new shows. A new series cowritten
by Arthur Mathews entitled Val Falvey TD will see the Father Ted
writer reunited with Ardal O’Hanlon, who will play the recently elected
politician. The brains behind the brilliant Dan&Becs are back with a new
show, Sarah & Steve, focusing on a couple from Tallaght and their struggling relationship. Ballydung bachelors Podge & Rodge will host a new
quiz from their new hangout, The Stickit Inn. Gráinne Seoige, whose
afternoon chat show is not being carried over into the new schedule, makes her return next season with the All Ireland Talent Show and Up for The Match.

And economist David McWilliams will present an examination of Ireland’s
international position in the global economic slump. Film premieres include Rocky Balboa, The Devil Wears Prada and Happy Feet.

iguana

I'm angry. Can I be on your show? I'm 30 years old and living abroad with my husband, we really, really want to move home and have been planning to for over 2 years, but with each day that passes it seems more and more impossible. I'm not in negative equity, but I'm seriously angry with the way my country has been run for the last decade and the housing bubble was a big part of that.

Instead of building a decent solid economy while we had the chance we got an economy based on building houses that nobody needs and pretending everyone was a millionaire. So now we are stuck living abroad when all we want to do is come home and raise a family where our parents and siblings live.

Oh well, at least we still have all our other Irish friends living here because none of them can move home either, despite quite a few of them wanting to. And I suspect more and more of our friends will be joining us over the next few years, those that aren't in NE anyway. Because all the state is interested in doing is propping up what was wrong in the first place.

mathie

J-blk wrote: »

Here it is - emphasis mine, to highlight the part where this thread is referred to:

I'm famous!

Oh hang on it's only the Metro.

What about the next generation or those who want to buy
They are angry, angry that the Government will take their money and use it to keep prices artificially high through NAMA

Keith C

Keith C wrote: »

Regarding negative equity, why not get Brendan from AAM on & ask him why his website, used by a lot of people to get info regarding buying houses, why he banned the discussion of house prices & banned posters who tried to warn readers about a potential housing crash.
For your research I suggest you read www.thepropertypin.com & the informed posters over there who defected from AAM & posted excellant advice.
On AAM you will get people complaining about buying at the wrong time & being in negative equity. On the pin you get posters thanking members for helping them not to buy.
why not hold a poll prior to your programme about which websites, if any, buyers read for advice prior to purchasing in the last 3 years.

yeah and while your at it find out why RTE had him on the news saying people should "fill their boots with Irish bank shares" and then they collapsed.

http://www.thepropertypin.com/viewtopic.php?f=4&t=2631&p=126966&hilit=Brendan+Burgess+fill+your+boots#p126966

http://www.rte.ie/news/2008/0916/6news_av.html?2423285,null,230

http://www.rte.ie/news/2008/0916/6news.html
THERE IS THE VIDEO!! ^^^^^


Im angry why did RTE have this on?? Furthermore how did RTE prime time get in contact with Aileen O`Toole from the useless leeching Ideas campaign??

So many ****ing questions those pricks need to answer...am I angry enough for your show?

and here you can look at bank share prices on historical graphs to see what great advice was up on RTE courtesy of Brendan Burgess
http://www.ise.ie/app/equityDetails.asp?equity=28082&start_day=16&start_month=9&start_year=2008

**** ***** ***** ****!!!!!

http://debates.oireachtas.ie/DDebate.aspx?F=ERJ20080610.xml&Node=H2

Brendan Burgess, former chairman of the Financial Regulator’s consumer panel, who will discuss the work of the Financial Regulator

Firetrap

faceman wrote: »

Negative equity is only an issue if you are selling. So if the show is only going to have people on who are in negative equity but arent selling, then its a pretty pointless show.

I wouldn't agree with that really. If I was a home-owner, I'd be pretty peeved if I was paying off a mortgage of 250k, say and the person next door has bought an identical house for €175k. That's a lot of lost disposable income.

DJDC

That guy from AAM deserves a mention, banning discussion about house prices on a forum about Irish money issues is ridicilous. But you get the impression that the average poster on that site isnt exactly the full shilling either.

The_Conductor

DJDC wrote: »

That guy from AAM deserves a mention, banning discussion about house prices on a forum about Irish money issues is ridicilous. But you get the impression that the average poster on that site isnt exactly the full shilling either.

As oppossed to here- where most of us are accussed almost daily of pursuing agendas :cool:

Quite what my perceived agenda is- I don't know......?

oceanclub

Deleted User wrote: »

yeah and while your at it find out why RTE had him on the news saying people should "fill their boots with Irish bank shares" and then they collapsed.

http://www.thepropertypin.com/viewtopic.php?f=4&t=2631&p=126966&hilit=Brendan+Burgess+fill+your+boots#p126966

http://www.rte.ie/news/2008/0916/6news_av.html?2423285,null,230

http://www.rte.ie/news/2008/0916/6news.html
THERE IS THE VIDEO!! ^^^^^

I'd never seen that before, and have to say his advice that the government not raise the minimum guarantee was bizarre. It's probably one of the few sensible options the government made; it cost nothing and prevented mass panic withdrawals from the banks. Even he admits later in the interview that that may have happened.

Burgess doesn't appear to realise that some of us may have large sums in the banks but aren't necesarily wealthy; those of us who shunned his buy-at-any-price mentality and saved for the inevitable crash, all warnings of which he astudiously deleted from his little online fiefdom.

As for "banks are very well-regulated... bank are very sound"? *snort*

P.

London Irish

Firetrap wrote: »

I wouldn't agree with that really. If I was a home-owner, I'd be pretty peeved if I was paying off a mortgage of 250k, say and the person next door has bought an identical house for €175k. That's a lot of lost disposable income.

Agree. Right now, all who bought 2007 and before are in the same boat, more or less - when compared with those who buy now or, better, later. There will be clear water between their relative disposable incomes. In the long term, this matters.

Its going to take a few years for this difference and its social effects to become apparent, and for people to realise it, but this has the potential to define a split between poor and rich in the years to come.

For example, if you're in thirties now with a young family and bought 2007 or before, how will you compete with your more flush neighbour over the next ten years, when she/he simply has far more money to use for the family, kids education, other investments, overall mobility, holidays, car.....

Say that, in ten years time, prices may have recovered in real terms. But what have you had to pay out in that time? And how could that money have otherwise been invested or spent if you'd bought a gaff for, say, 40% less?

People are thinking with their gut when they say NE doesn't matter. They haven't looked at the numbers.

Enii

frontline wrote: »

Hi,
I'm working on a new RTE Current Affairs TV show, The Frontline, presented by Pat Kenny.
The show will be replacing Questions and Answers on a Monday night on RTE ONE and will have major audience interaction on the various topics discussed.
For our first show on September 21st we are looking to get in touch wtih people in negative equity who are angry at their situation and would be willing to chat to me about it.
If this is you please get in touch by emailing aoife.stokes@rte.ie.
Thanks

Angry people..... *yawn* Go do some real research and do a programme about something that is news worthy....

What do they have angry to be about? A gun wasn't held to their head....

wyndham

Anybody have a bio on Brendan Burgess? Nothing on wiki? Think he is an accountant but just interested to know if he is qualified in any other area?

snubbleste

oceanclub wrote: »

If they had a show which featured RTE's promoted expert on property Liz O'Kane explaining to the angry people why she was right all along, I'd certainly turn in; virtual lynchings can be fun.

http://quotesfromthebubble.blogspot.com/2009/07/liz-okane-property-tv-show-presenter.html

P.

That would be some show, is her house still on the morket?

Pa ElGrande

<rant>
Why would anyone be angry about being in negative equity?

Were people angry as they camped out overnight in a queue to buy the first release of property in a new development? Were they angry that prices kept rising forcing them to bring forward their purchasing plans? Were the angry at their parents, peer group, media, politicians, bank economists, property economists, estate agents telling they need to make something of their lives and get on the property ladder? Were they angry as they lied about their incomes while going around to various mortgage brokers and lenders looking for someone to lend them the most money? Were they angry at taking out a mortgage for a pokey apartment with little if any sound insulation and little to no storage space?

Ironically people did get angry at the time but at people who told them outright this was a bubble, that it was foolish to buy, when it was cheaper to rent, that prices would crash. I had to bite my tongue when the inevitable subject of property came up in conversation, except if they asked my opinion directly of course... then wishing they had not, when I systematically destroyed every illusion they held about property.

Now we talk about interesting things like the weather, property as a subject is dead except for NAMA. You want real anger the keywords are the Greens, Bertie Ahern, Anglo Irish Bank, bank bailouts and cutbacks. Few are angry about Negative Equity, they are more concerned with keeping their jobs and a roof over their head.

Same RTE though, never tackle the root cause of the problem, focus on emotions rather than facts, keep the people ignorant and fighting among themselves, but never upset the political paymasters or challenge the basis of the Irish economy, attack free market but never progressive economics.

</rant>

amdublin

Pa ElGrande wrote: »

<rant>
Why would anyone be angry about being in negative equity?

Were people angry as they camped out overnight in a queue to buy the first release of property in a new development? Were they angry that prices kept rising forcing them to bring forward their purchasing plans? Were the angry at their parents, peer group, media, politicians, bank economists, property economists, estate agents telling they need to make something of their lives and get on the property ladder? Were they angry as they lied about their incomes while going around to various mortgage brokers and lenders looking for someone to lend them the most money? Were they angry at taking out a mortgage for a pokey apartment with little if any sound insulation and little to no storage space?

Ironically people did get angry at the time but at people who told them outright this was a bubble, that it was foolish to buy, when it was cheaper to rent, that prices would crash. I had to bite my tongue when the inevitable subject of property came up in conversation, except if they asked my opinion directly of course... then wishing they had not, when I systematically destroyed every illusion they held about property.

Now we talk about interesting things like the weather, property as a subject is dead except for NAMA. You want real anger the keywords are the Greens, Bertie Ahern, Anglo Irish Bank, bank bailouts and cutbacks. Few are angry about Negative Equity, they are more concerned with keeping their jobs and a roof over their head.

Same RTE though, never tackle the root cause of the problem, focus on emotions rather than facts, keep the people ignorant and fighting among themselves, but never upset the political paymasters or challenge the basis of the Irish economy, attack free market but never progressive economics.

</rant>

Well said.

Any comments Ms Stokes?

(Wow I really really wish I worked as a "researcher" for The Frontline, it looks like a nice easy job - pick a topic, on to Boards.ie and sit back. Well done you. Go Aoife)

godtabh

Firetrap wrote: »

I wouldn't agree with that really. If I was a home-owner, I'd be pretty peeved if I was paying off a mortgage of 250k, say and the person next door has bought an identical house for €175k. That's a lot of lost disposable income.

But that decision to buy has nothing to do with any one else. No one was forced to buy.

People need places to live. Some rent some buy. Rent goes up and down. House values go up and down. You pick the option that best suits your needs and take the risk associated with it

Kipperhell

London Irish wrote: »

Agree. Right now, all who bought 2007 and before are in the same boat, more or less - when compared with those who buy now or, better, later. There will be clear water between their relative disposable incomes. In the long term, this matters. etc...

I find that all a bit strange because the reality I saw and see is a load of people from 2001 on saying prices will crash soon and prices kept going up. Some waiting for the crash panicked and bought and much higher prices later on. These people were living beside people with massively different mortgage payments. Most of the people I know moved up the property ladder and need massive house price drops on top of what happens before negative equity.

There is also the issue of the fact you will have finished your mortgage before the person who bought later on. There is a big difference between being 55 and 65 when you finished your mortgage.

Any investment is a risk, If you can point to anybody that correctly said where was a safe place to invest your money I'd be surprised. The forum has lost a lot of talk about how investing in shares was much better than investing in property. The only reason I can guess for that is that it hasn't worked out as perfectly as the said it would.

You can always wait and never risk which will mean you might look smart at some point but don't confuse not getting involved as wisdom. There comes a point where you simply can't get a mortgage. I think if you are 35 now and waiting out the market and then going to buy you might find that you are behind your peers and will be going forward. People often don't consider the rent they paid while they were waiting to buy a property .

A lot of peak estimated prices were never actually paid too. Had my place valued at €600k for my tracker mortgage great for me but nobody actually paid that for any house on my road. Value is what you can actually sell something for. So now the valuation is more like €380k no big deal as I am in a better situation than somebody who invested the deposit money in banking shares and I have only 15 years on my mortgage

I get people bashing the property market but the ridiculous nature of some theories and speculation don't actually change the fundamentals of how the property market works regardless of the crash.

The only people being smart managed to sell their property for a high price before the crash and now have money to buy at lower prices. Not that many people did this as it involves not having a home and being quite flexible .

leitrim lad

is yer wan from rte looking for anyone in negative equity, or just people with a house , because send her to me , and it will make a film let alone a half hour programme

ronbyrne2005

Hopefully Pat Kenny's new show will address the role the media(including rte )played in the bubble which has ruined our country.
They constantly allowed property shills and VI's from banks,estate agencies etc on the news and other shows to shout propaganda that was taken as fact.
They had tons of pro property programmes like househunters etc that perpetuated the myth that proces only go up and you must buy now before you are priced out of market etc. Only a few programmes countered these arguments and RTE gave into the vested interests who protested vigourously about any "talking down the economy".