I signed my life away for the sake of city centre apt.

fontanalis

james finn wrote: »

everyone talks about how foolish everyone else is, the lady has a great job, and a nice home which will return value in years to come and all the I have notin's can say is she is a fool.

Including car parking spot she forked out almost 600k on something that is currently worth over 300, almost a 50% drop. In order for her to make her money back the apartment has to now increase by 100%, on a 40 year mortgage god knows what she'll end up paying. She would have been better off buying magic beans.

AnonoBoy

james finn wrote: »

she bought the home to live in and she aint selling so whats the prob

The problem is that she bought her apartment at an unrealistically high price and now can barely afford to pay her mortgage and her bills. So she's not sitting pretty as you seem to think she is.

markesmith

How does a person this stupid get into my newspaper?

John_Rambo

AnonoBoy wrote: »

That still doesn't answer why should I care about her apartment?

I told you already, she doesn't and no where in the article does she ask you to. You on the other hand seem to care a lot about it!

AnonoBoy wrote: »

People in this country are obsessed with owning their own home

Right.

AnonoBoy wrote: »

I have a nice big savings account building up and I'll buy property when I think the time is right

orourkeda

€45,000 for a car parking spot.

Jesus mary and Holy Saint Joseph is there something wrong with her brain

hinault

AnonoBoy wrote: »

The problem is that she bought her apartment at an unrealistically high price and now can barely afford to pay her mortgage and her bills. So she's not sitting pretty as you seem to think she is.

If she thinks it's bad now, wait and see her kind whinge and nash their teeth when the interest rates go up:)

Negative equity will get worse and the debt will increase.


The Sindo were the "celtic tiger" cheer leaders remember.

m5ex9oqjawdg2i

I can understand her want for something immediately, the exitement etc etc, back then she could afford it, yet she still should have waited, she knew this too. I have been looking at houses in my area, and if I was working I would be looking to buy one soon enough. Beautiful 3 bedroom semi detatched houses for 130K, now it's an hour from Dublin, but in order to get the same price for a similar house I would have to look in Tallaght, no thanks. I've had my fair share of council houses to last an eternity. No offense to anybody living in Tallaght.

Even now is not the best time to buy a house, there's 250K houses/apartments out there sitting empty. You would be still a little crazy to buy a house now, wait at least another year and then buy. I mean, if the market is still falling, why not wait until it starts to pick up again before buying? Sure you will lose out on a few thousand as the market starts to rise, but at least you know it's not going down anymore

AnonoBoy

John_Rambo wrote: »

I told you already, she doesn't and no where in the article does she ask you to. You on the other hand seem to care a lot about it!

But you seem to think I should since you asked did any of us know how much her apartment would be worth in 28 years time?

orourkeda

fontanalis wrote: »

She's not a journalist, she's a wannabe working for a rag with a Carrie Bradshaw complex and not the only one about town.

Beautifully put. The world is full of them and everyone else has to pay to bail them out

orourkeda

hinault wrote: »

If she thinks it's bad now, wait and see her kind whinge and nash their teeth when the interest rates go up:)

Negative equity will get worse and the debt will increase.


The Sindo were the "celtic tiger" cheer leaders remember.

Indeed. Thats when the sh1t is really is really going to hit the fan

daveyboy_1ie

Two things that struck me about her two articles, one was the year travelling and then coming back and within a few months of landing her 'dream job' had bought the apartment to be amongst the trendies along the docklands. Seems that hard work and saving went out the window and even at a time when the country was coming to a a standstill the banks were still willing to offer 580,000 to a one person income for a 40 year mortgage. As per usual it takes two to tango and both herself and the bank were at fault for a major mistake which was indicative of banks in our so called boom time.

Secondly when discovering the drop in prices for neignbouring develpments (her earlier article from September 2009) her thoughts were not how much money she could have saved by waiting which should have been the case, but how much more of a luxurious apartment she could have gotten for only 100,000 less than her current self confessed nightmare. Thats her biggest regret, if she is going to be in a negative equity why not be in a posher pad if only she had of waited. Forget the saving of say 200,000 on her own current apartment which she loves but lets STILL spend the money I don't actually have on a nicer place. Her regret should be having her dream apartment for 60% of the price she paid should it not and have no real negative equity.

She reeks of someone who yes made a mistake and was unlucky with timing to be hurt SO bad, but she still thinks the pain is worth it if she is seeing to be living the life. Maybe I am the only one who got that from her articles?

Whiskey Devil

Mrmoe wrote: »

Anybody know the address? I have some magic beans to sell.

Brilliant!

hinault

orourkeda wrote: »

Beautifully put. The world is full of them and everyone else has to pay to bail them out

She would be described as a "contributor" in terms of her articles.
Contributor = a person who writes articles for a paper/magazine.

She certainly isn't a journalist.

John_Rambo

AnonoBoy wrote: »

But you seem to think I should

Well, you got that wrong, didn't you?

Agent J

At the very least the last line is worth noting.

"The sleepless nights and bouts of anxiety will continue but hindsight is a very exact science and I can do nothing about that fateful day when I signed away my life and effectively put myself into my own financial prison."


Wait. I misread prison as position initially. I was about to credit her for taking responability for her position. However it just reads like a "pity me" article.

df1985

plenty of people down the docks in the exact same boat as her.they all bought into the ''trendy waterside living'' crap, wine bars etc all opened up down there.the prices in spencer dock at the time were madness, some of them do have rooftop swimming pools though!

now reality has set in and theyre in their overpriced apartment looking out on smelly docks with shopping trolleys floating by.loads of vacant retail units down there.the docklands is lifeless at the weekends when the office workers are gone.

John_Rambo

daveyboy_1ie wrote: »

She reeks of someone who yes made a mistake and was unlucky with timing to be hurt SO bad, but she still thinks the pain is worth it if she is seeing to be living the life. Maybe I am the only one who got that from her articles?

Nail on the head. You actually read the article, well done. Better than glancing over it, getting purple in the face and smashing your keyboard in righteous indignation.

These idiots are getting louder and louder.

I dread what might come..

AnonoBoy

John_Rambo wrote: »

Well, you got that wrong, didn't you?

So why did you ask if anyone knew what her apartment would be worth?

I fail to see your point at all John_Rambo if that is you're even making one.

JONJO THE MISER

AnonoBoy wrote: »

The problem is that she bought her apartment at an unrealistically high price and now can barely afford to pay her mortgage and her bills. So she's not sitting pretty as you seem to think she is.

Well according to a article about sunbeds so confesses to being a sunbed addict, now how much do those sessions cost?
Perhaps and that suntanning affected her head:D.

John_Rambo

AnonoBoy wrote: »

So why did you ask if anyone knew what her apartment would be worth?

I fail to see your point at all John_Rambo if that is you're even making one.

You are getting all worked up about the article, pissing and moaning about her wanting your sympathy, her stupidity, her lack of judgment etc... you even went on to read more of her articles to annoy yourself and get even more angry.

My point is... She doesn't want your sympathy, she's not asking for a hand out or even government intervention. She's just admitting what a mistake she made. She's admitting that not listening to her parents was bad idea.

The reason I asked did anyone know how much the apartment would be worth in 28 years time is that the only time I ever worried about the price of property was when I was selling it.

John_Rambo

John_Rambo wrote: »

You are getting all worked up about the article, pissing and moaning about her wanting your sympathy, her stupidity, her lack of judgment etc... you even went on to read more of her articles to annoy yourself and get even more angry.

My point is... She doesn't want your sympathy, she's not asking for a hand out or even government intervention. She's just admitting what a mistake she made. She's admitting that not listening to her parents was bad idea.

The reason I asked did anyone know how much the apartment would be worth in 28 years time is that the only time I ever worried about the price of property was when I was selling it.

make no mistake about it, the reason why (as I said earlier) these fools are getting louder and louder is that they are hoping the government will make an expensive, foolish and populist (for certain people) mistake and create a sort of NAMA for people in negative equity.

John_Rambo

Rojomcdojo wrote: »

make no mistake about it, the reason why (as I said earlier) these fools are getting louder and louder is that they are hoping the government will make an expensive, foolish and populist (for certain people) mistake and create a sort of NAMA for people in negative equity.

Right, good point, I didn't know what you meant earlier on.

AnonoBoy

John_Rambo wrote: »

You are getting all worked up about the article, pissing and moaning about her wanting your sympathy, her stupidity, her lack of judgment etc... you even went on to read more of her articles to annoy yourself and get even more angry.

My point is... She doesn't want your sympathy, she's not asking for a hand out or even government intervention. She's just admitting what a mistake she made. She's admitting that not listening to her parents was bad idea.

The reason I asked did anyone know how much the apartment would be worth in 28 years time is that the only time I ever worried about the price of property was when I was selling it.

I'm not angry, I just enjoy colourful language.

I think the woman's a fool for doing what she did and I don't see how her article illustrates anything other than how much of a fool she was. It's pointless filler with nothing to warrant it taking up column inches.

But then again the paper she contributes to is awash with fools so it shouldn't really surprise me so much.

star.chaser

and to make this worse she tells the whole world and not even anonymously?

proper tit

John_Rambo

AnonoBoy wrote: »

I'm not angry, I just enjoy colourful language.

I think the woman's a fool for doing what she did and I don't see how her article illustrates anything other than how much of a fool she was. It's pointless filler with nothing to warrant it taking up column inches.

But then again the paper she contributes to is awash with fools so it shouldn't really surprise me so much.

It could be an interesting insight to how people are feeling, their regrets and maybe a realisation that our elders might have something good to offer regarding advice.

I really think it takes a degree of bravery to put that down on paper in one of the nations papers. There are thousands of people in the same boat up and down the country, some in apartments, some in one off hideous show off rural castles that wouldn't dare even admit they are worried, they would rather drive around on bald tires in their expensive 4x4's than sell it. You may think she's a fool and you may think you are incredibly clever. Either way, she has bought an apartment she likes, she didn't buy anything just to get a "foot on the ladder". At least she is in a place she can stay. She's in negative equity yeah, but she's not in some kip and she is very near Dublin city center.

ricman

DOESNT she read the papers, even at that time the banks where in crisis.SHE paid an extra 250k to live in a posh area, plus 1200 minimum service charges .it was obvious prices were going down.I,m suprised a journalist could get a loan of 500k from any bank. ITS sheer stupidity.IN 2008 she could have bought a nice house 4 350k in a nice area , and rent out 1 room for 100euro to help pay the mortgage.
i think its like some people will pay almost anything to live in a certain area.
She ignored the advice she got and now shes like 200k plus in negative equity.
ITS leaving your car on the street with the doors open ,and then being surprised it got robbed.
And she,s in an industry where people are being laid off year after year.
IN 2008 ,spend ten mins on daft and its was obvious prices were declining,especially for an apartments.
in early 2008 there was an article in the nyt real estate , about an irish girl.
S he paid around 300k for an apartment in dublin, it was valued at 200k.
IF i was spending 500k, i,d get professional advice be4 i would sign a contract.AT least if she had bought a house on the south side , she,d have more space.
IF YOU HAVE negative equity of 200k, you prbly cannot afford to sell it.

dolliemix

I just can't believe that she was under 30, had just spent a year travelling, had only just started working (she said she'd just landed her dreamjob) and was able to afford repayments on a 500 + euro mortgage. She would have had to pay some kind of deposit.

Where did she get the money? :eek::eek:

Sunday Indo hardly pays out that big a salary. And her parents were opposed to the idea, so they hardly helped her out!

It's incredible the amount of money that people were spending and borrowing during the Celtic Tiger. I'm shocked! Most people would barely earn that much in a life time.

John_Rambo

ricman wrote: »

IF YOU HAVE negative equity of 200k, you prbly cannot afford to sell it.

Where did she say she wanted to sell it?

AnonoBoy

John_Rambo wrote: »

It could be an interesting insight to how people are feeling, their regrets and maybe a realisation that our elders might have something good to offer regarding advice.

Possibly, although I don't think it's written well enough to class as an insight.

You may think she's a fool and you may think you are incredibly clever.

Ah just because I think she's a fool doesn't mean I think I'm incredibly clever. I never said I am, I just didn't make the same obvious mistakes she did.

Either way, she has bought an apartment she likes, she didn't buy anything just to get a "foot on the ladder".

Ah I dunno about that. Of course she likes it but reading this:

article wrote:

When I saw just this in May of that year, it accelerated my impulse to buy immediately, even though the market was softening.

It does sound like she was desperate to get the apartment she wanted now even though she knew the market was going south. While you mightn't count it as just getting a foot on the ladder as she's intending to stay there, it still does smack of the 'I want somewhere right now' syndrome that so many Irish people foolishly fell for.

At least she is in a place she can stay. She's in negative equity yeah, but she's not in some kip and she is very near Dublin city center.

She can stay for now, although by her own admittance it's not easy at all.

I'm sure it's a lovely apartment though. It'd f*cking well want to be.