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Ireland in Preliminary Bailout Talks

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    #32
    Kintarō Hattori
    Registered Users Posts: 14,966 ✭✭✭✭Kintarō Hattori


    OisinT wrote: »
    Not trying to be smart actually. Just wondering. €124200 repayments should probably be between €500 and €550pm.

    I think there are 3 year fixed mortgages at 3.9% (or something) monthly payments of €540ish and then €500 for the rest of the term.

    If your house went down to €100,000 it'd be about €100 less per month anyway.
    If you have enough after bills and stuff to afford €1200pm you'd probably be fine.

    It is about €580pm as far as I can recall. If we both still have jobs we can easily afford the mortgage as we'd be left with quite a bit even after travel expenses and the various bill/insurances that come with a house.

    Even if it dropped in value to €100,000 I wouldn't be too concerned as I want to settle down and stop renting. €100pm less wouldn't be a massive difference so I could live with that.


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    #33
    K-9
    Registered Users Posts: 43,311 ✭✭✭✭K-9


    Kintarō Hattori wrote: »
    Ahem, it is high at 92% but €600pm is considerably lower than we've been paying in rent for the last 7 years. Plus we don't have any major expenditure as we don't go out/don't drink/don't smoke etc.

    As others said, I'd wait, prices are hardly going to go up in the next 6 months at the minimum.

    Sure any money you save, you can put the mortgage over a shorter term.

    To me anything over 25 years is too long. Mine was 20, seemed long but 10 years don't be long going in!

    Mad Men's Don Draper : What you call love was invented by guys like me, to sell nylons.



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    #34
    FreudianSlippers
    Registered Users Posts: 20,397 ✭✭✭✭FreudianSlippers


    Kintarō Hattori wrote: »
    It is about €580pm as far as I can recall. If we both still have jobs we can easily afford the mortgage as we'd be left with quite a bit even after travel expenses and the various bill/insurances that come with a house.

    Even if it dropped in value to €100,000 I wouldn't be too concerned as I want to settle down and stop renting. €100pm less wouldn't be a massive difference so I could live with that.

    I agree with you here too. Owning > renting. If you're paying €700pm on rent then you should pull the trigger and go for it. If you like the house and it's €580pm there's no point in waiting it out.
    K-9 wrote: »
    As others said, I'd wait, prices are hardly going to go up in the next 6 months at the minimum.

    Sure any money you save, you can put the mortgage over a shorter term.

    To me anything over 25 years is too long. Mine was 20, seemed long but 10 years don't be long going in!
    I don't think they'll go up, but they may not go down drastically. I really don't think they'll go far under €100,000 but that all depends on location etc.

    Totally agree with length, but not totally possible for everyone.


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    #35
    BraziliaNZ
    Banned (with Prison Access) Posts: 5,671 ✭✭✭BraziliaNZ


    It's crazy that I can't find a place to rent for myself for anything less than about 750 euro (decent place) in Dublin, when mortgage repayments are even cheaper than that these dys it seems. When will rental prices even out with purchase prices? Or can it happen? Rent is still outrageous in Dublin.


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    #36
    FreudianSlippers
    Registered Users Posts: 20,397 ✭✭✭✭FreudianSlippers


    BraziliaNZ wrote: »
    It's crazy that I can't find a place to rent for myself for anything less than about 750 euro (decent place) in Dublin, when mortgage repayments are even cheaper than that these dys it seems. When will rental prices even out with purchase prices? Or can it happen? Rent is still outrageous in Dublin.
    Agreed. Some friends of mine are paying out their arses on rent.


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    #37
    BraziliaNZ
    Banned (with Prison Access) Posts: 5,671 ✭✭✭BraziliaNZ


    With all these talks of property value crashing etc, unless you're earning some serious coin it's totally unfeasible to rent a place to yourself in Dublin, unless it's some pigsty of a bedsit or something.


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    #38
    sron
    Registered Users Posts: 264 ✭✭sron


    Kintarō Hattori wrote: »
    It is about €580pm as far as I can recall. If we both still have jobs we can easily afford the mortgage as we'd be left with quite a bit even after travel expenses and the various bill/insurances that come with a house.

    Even if it dropped in value to €100,000 I wouldn't be too concerned as I want to settle down and stop renting. €100pm less wouldn't be a massive difference so I could live with that.

    It could go well beneath that though; there's really no telling at this point. If I were you, I wouldn't buy so much as a Monopoly house for another five years.

    But if the house suits and you can afford it...


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    #39
    Princess Consuela Bananahammock
    Registered Users Posts: 33,044 ✭✭✭✭Princess Consuela Bananahammock


    Does Ireland actually deserve bailing out? I mean, repeately voting FF, takign out obscene mortgages and actually thinking that this would go on for ever (yes, it was possibly to have seen the bubble bursting), rampant financial corruption (which we were quiet happy to turn a blind eye to)...

    I'm not saying it's a good or a bad idea, just posing the question.

    Everything I don't like is either woke or fascist - possibly both - pick one.



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    #40
    mikom
    Closed Accounts Posts: 16,391 ✭✭✭✭mikom


    http://news.bbcimg.co.uk/media/images/49927000/jpg/_49927449_010512009-1.jpg

    Caption for pic.

    "oh oh spaghettios"


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    #41
    darragh16
    Registered Users Posts: 882 ✭✭✭darragh16


    Burn the croke park agreement before the IMF do it....


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    #42
    Sea Sharp
    Registered Users Posts: 2,593 ✭✭✭Sea Sharp


    Ikky Poo2 wrote: »
    Does Ireland actually deserve bailing out? I mean, repeately voting FF, takign out obscene mortgages and actually thinking that this would go on for ever (yes, it was possibly to have seen the bubble bursting), rampant financial corruption (which we were quiet happy to turn a blind eye to)...

    I'm not saying it's a good or a bad idea, just posing the question.

    We don't deserve it but the bail out will help prevent the euro from collapsing.


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    #43
    My name is URL
    Registered Users Posts: 25,067 ✭✭✭✭My name is URL


    Ikky Poo2 wrote: »
    Does Ireland actually deserve bailing out? I mean, repeately voting FF, takign out obscene mortgages and actually thinking that this would go on for ever (yes, it was possibly to have seen the bubble bursting), rampant financial corruption (which we were quiet happy to turn a blind eye to)...

    I'm not saying it's a good or a bad idea, just posing the question.

    Deserve to be bailed out? What would the alternative be exactly? I don't think deservedness comes into it really. If it was just allowed to collapse completely it would have an effect on the rest of Europe. Ignoring the fact that you deeply resent Ireland, it's still a silly question.


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    #44
    K-9
    Registered Users Posts: 43,311 ✭✭✭✭K-9


    OisinT wrote: »
    I agree with you here too. Owning > renting. If you're paying €700pm on rent then you should pull the trigger and go for it. If you like the house and it's €580pm there's no point in waiting it out.


    I don't think they'll go up, but they may not go down drastically. I really don't think they'll go far under €100,000 but that all depends on location etc.

    Totally agree with length, but not totally possible for everyone.

    True, just outlining the worst case.

    €135,000 doesn't seem bad but thinking long term, it is a 2 bed so you'd have to think of resale values if you wanted to trade up.

    Mad Men's Don Draper : What you call love was invented by guys like me, to sell nylons.



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    #45
    drdeadlift
    Closed Accounts Posts: 2,189 ✭✭✭drdeadlift


    would it be better not to have ff at the helm if Ireland get a loan of such a large amount of money.I dont think they will know what to do with it.


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    #46
    Rosita
    Registered Users Posts: 3,896 ✭✭✭Rosita


    OisinT wrote: »
    No source. Stay classy BBC.


    Getting a loan from the EU Stability fund wouldn't be so bad IMO.


    I agree. The alternative doesn't seem great anyway.

    In fairness to the BBC stories which are being politically denied will tend not to have publishable sources. Doesn't necessarily make them unreliable.

    There was no publishable source for Watergate either.


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    #47
    Princess Consuela Bananahammock
    Registered Users Posts: 33,044 ✭✭✭✭Princess Consuela Bananahammock


    Sea Sharp wrote: »
    We don't deserve it but the bail out will help prevent the euro from collapsing.
    My name is URL wrote: »
    Deserve to be bailed out? What would the alternative be exactly? I don't think deservedness comes into it really. If it was just allowed to collapse completely it would have an effect on the rest of Europe. Ignoring the fact that you deeply resent Ireland, it's still a silly question.

    Dersrve, my good men, deserve. As I said, I wasn't commenting on whether or not it was a good or a bad idea.

    My point, is this juts telling politicans and bankers, ****... we got away with it... let's go again. Accountability is going out the window, because we are not holding those accountable for what caused it.

    Also, URL, "the fact that I deeply resent Ireland"...? WTF is that based on? It's as common and ignorant as "Liverpool are **** without Gerrard" or "the death pentaly will solve crime problems".

    Yes, if it needs to happen it'll happen, I'm aware of that, but how long before the cycle repeats itslef?

    mikom wrote: »
    http://news.bbcimg.co.uk/media/images/49927000/jpg/_49927449_010512009-1.jpg

    Caption for pic.

    "oh oh spaghettios"

    "Ah dah-da-da-da-da-daht's all folks"

    Everything I don't like is either woke or fascist - possibly both - pick one.



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    #48
    FreudianSlippers
    Registered Users Posts: 20,397 ✭✭✭✭FreudianSlippers


    Rosita wrote: »
    I agree. The alternative doesn't seem great anyway.

    In fairness to the BBC stories which are being politically denied will tend not to have publishable sources. Doesn't necessarily make them unreliable.

    There was no publishable source for Watergate either.
    I know. The original article was only 3 lines long though, they've since updated it.


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    #49
    Agricola
    Registered Users Posts: 6,547 ✭✭✭Agricola


    Christ what a mess. I used to think that if the men who fought for independence could see how successive generations have managed to bankrupt the country, they'd think twice about breaking away from the uk. But considering these clowns in FF are their spiritual successors, maybe they'd be more delighted about the fact that Irishmen managed to screw us up and not a bunch of outsiders!

    I hope to fúck alot of hard lessons will be learned by this and we come out the other in with a properly run democracy. I wont hold my breath though.


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    #50
    Tusky
    Registered Users Posts: 17,056 ✭✭✭✭Tusky


    Are any economists or politicans commenting on this on twitter ?


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    #51
    indiewindy
    Registered Users Posts: 1,425 ✭✭✭indiewindy


    Agricola wrote: »
    Christ what a mess. I used to think that if the men who fought for independence could see how successive generations have managed to bankrupt the country, they'd think twice about breaking away from the uk. But considering these clowns in FF are their spiritual successors, maybe they'd be more delighted about the fact that Irishmen managed to screw us up and not a bunch of outsiders!

    I hope to fúck alot of hard lessons will be learned by this and we come out the other in with a properly run democracy. I wont hold my breath though.

    Unless Zanu FF are wiped out at the next election lessons wont be learned


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    #52
    PCros
    Registered Users Posts: 2,067 ✭✭✭PCros


    The head of the International Monetary Fund, Dominique Strauss Kahn, has said Ireland can manage its economy on its own.

    Speaking on the sidelines of an Asia Pacific summit in Japan, Mr Strauss Kahn said Ireland's difficulties had been principally caused by one bank and were very different from those of Greece whose economy faced deep-seated problems.

    His comments came after Taoiseach Brian Cowen and the European Commission denied a report that preparations were under way to apply for emergency funding from the EU.


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    #53
    Tusky
    Registered Users Posts: 17,056 ✭✭✭✭Tusky


    PCros wrote: »
    The head of the International Monetary Fund, Dominique Strauss Kahn, has said Ireland can manage its economy on its own.

    Speaking on the sidelines of an Asia Pacific summit in Japan, Mr Strauss Kahn said Ireland's difficulties had been principally caused by one bank and were very different from those of Greece whose economy faced deep-seated problems.

    His comments came after Taoiseach Brian Cowen and the European Commission denied a report that preparations were under way to apply for emergency funding from the EU.

    His comments are older than the story in the OP. The IMF and EFSF are different.


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    #54
    windsurfer99ie
    Closed Accounts Posts: 184 ✭✭windsurfer99ie


    jumpguy wrote: »
    Yeah, RTE have an article now:


    http://www.rte.ie/news/2010/1113/economy.html

    How strange...maybe the BBC article is just an attempt by the English to destroy us? :pac:


    Why would they want to do that? The three countries who have been resolutely buying Irish debt and, this week, issued a joint statement in support of the Irish position are Britain, Germany and France. Cameron has come out in support of the Irish Governments approach. I agree that the BBC article lacks sources, but their reporting of the Irish situation over the last few days has been fair, in my opinion. RTE have a vested interest in putting a positive spin on the situation ...


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    #55
    ejmaztec
    Registered Users Posts: 23,979 ✭✭✭✭ejmaztec


    drdeadlift wrote: »
    would it be better not to have ff at the helm if Ireland get a loan of such a large amount of money.I dont think they will know what to do with it.

    Double the number of public servants and buy a couple of new jets, and invest anything left in a German bank.


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    #56
    Killer Pigeon
    Closed Accounts Posts: 5,132 ✭✭✭Killer Pigeon


    Bagsy that the Party will have a Third Position ideology!


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    #57
    danbohan
    Closed Accounts Posts: 1,914 ✭✭✭danbohan


    ejmaztec wrote: »
    Double the number of public servants and buy a couple of new jets, and invest anything left in a German bank.

    double only ? , labour will treble it !


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    #58
    DERICKOO
    Registered Users Posts: 593 ✭✭✭DERICKOO


    Imf says Ireland can manage its economy on its own.
    end of story


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    #59
    Tusky
    Registered Users Posts: 17,056 ✭✭✭✭Tusky


    People, including RTE are missing the point. Those comments from the IMF are from this morning. The bbc/bloomberg articles are from much more recently so the quotes dont apply.


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    #60
    brianthebard
    Closed Accounts Posts: 16,165 ✭✭✭✭brianthebard


    Sea Sharp wrote: »
    We don't deserve it but the bail out will help prevent the euro from collapsing.

    Which is the EU's primary goal atm, and **** the countries that get in the way.


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    #61
    brianthebard
    Closed Accounts Posts: 16,165 ✭✭✭✭brianthebard


    Agricola wrote: »
    Christ what a mess. I used to think that if the men who fought for independence could see how successive generations have managed to bankrupt the country, they'd think twice about breaking away from the uk. But considering these clowns in FF are their spiritual successors, maybe they'd be more delighted about the fact that Irishmen managed to screw us up and not a bunch of outsiders!

    How is modern FF the successor to the ideological men and women who fought for independence?


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