Primetime, Castles & Multiple Dubai Properties

oceanclub

Strange I haven't seen any commentary on last night's Primetime (apologies if I missed it). Either it was the greatest work of TV satire since Chris Morris' "Brass Eye", or RTE folk live in a complete bubble where people living in castles or with multiple properties (whose children can only have FOUR presents this Xmas) are exceptionally deserving of sympathy and bailout in a country with hundreds of thousands unemployed where many couldn't even afford a humble home in the working-class area they grew up in. Friends of mine in Facebook, even ones who normally don't comment on such things and ones who would be relatively well off themselves in the current scheme of things, were absolutely livid at the crassness of it.

P.

jmayo

oceanclub wrote: »

Strange I haven't seen any commentary on last night's Primetime (apologies if I missed it). Either it was the greatest work of TV satire since Chris Morris' "Brass Eye", or RTE folk live in a complete bubble where people living in castles or with multiple properties (whose children can only have FOUR presents this Xmas) are exceptionally deserving of sympathy and bailout in a country with hundreds of thousands unemployed where many couldn't even afford a humble home in the working-class area they grew up in. Friends of mine in Facebook, even ones who normally don't comment on such things and ones who would be relatively well off themselves in the current scheme of things, were absolutely livid at the crassness of it.

P.

I did find it a bit weird who they picked to showcase.
I mean come on there must be some couple who bought an overpriced property in Ireland, where one partner has taken a paycut whilst the other became unemployed and whose 50 shares in the banks are now worthless, that could have been interviewed for the show.
Instaed we had one retired American couple who own a castle, and a couple of couples who became speculators.

What pocessed the couple to buy 4 properties in the one development in Dubai.
FFS ever heard of not putting all your eggs in one basket ?
Oh wait they just bloody borrowed some of the eggs in the first place.


As for the elderly American couple why have all your share portfolio in Irish banks if what I remember is correct ?
Always spread the risk.
In fact they are the only ones I would have some sympathy for on the show, as they were not just running off buying multiple properties in some sanddune sold by some greasy Irish guy.
Dubai like Sunny Beach was always a bad investment.

As for the lady claiming that she was expert investor and was pressured into investing in fund, why not just say NO.

There was some bull on the show about banks pressurizing people who had deposits to invest in property funds.
I had approachs to use a deposit I had and I just said NO I am not interested after I found out what they were advising.

Simarly I said no thanks when I heard some eejits give me a line about rental period in Sunny Beach and VAT did not need to be paid with the deposit to the account in Hong Kong, how accesible Cape Verde was and that water was not an issue, how Dubai was totally immune from the whims of a ruling family who can change the laws overnight and Dubai in the centre of the Middle East is going to be the new Las Vegas.

Too many people believed the BS because guess what, they thought they were going to get mega rich.
These same people were the ones laughing at anyone who did not have investment properties.
And they probably thought anyone who didn't have their own home as something that was akin to a village idiot.

oceanclub

Not to mention that Dubai has been built on virtual slave labour:

http://www.independent.co.uk/opinion/commentators/johann-hari/the-dark-side-of-dubai-1664368.html

Sorry, but my well of sympathy runs dry for Robopaddies who decided to invest in multiple properties there.

P.

who_ru

typical prime time drival. the most useless current affairs programme bar none. Miriam O Callaghan & tough questioning of Govt people or vested interests are polar opposities.

not even wrong

who_ru wrote: »

Miriam O Callaghan

I suppose when you get paid €300k a year the people on the show really do seem like the hard-pressed lower middle classes to you...

(My favourite part was the Dubai couple telling little Sneachta or Uachtar Reoite or whatever it was, "no you can only have three presents from Santa, we're poor now". You could almost see the tears welling up in Miriam's eyes.)