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Profiteering or 'Fire Sale' Auction of repossessed properties ?

  • 20-04-2011 9:24am
    #1
    Chiggers
    Registered Users, Registered Users 2 Posts: 12 ✭


    Nice to see the properties described as distressed rather than those who lost them. Is this profiteering ?


Comments

  • #2
    chalkitdown
    Registered Users, Registered Users 2 Posts: 691 ✭✭✭chalkitdown


    The people that originally bought or built these properties are the ones responsible for the property bubble, so hopefully they are distressed.

    The buyers of the current firesale properties are still going to lose money in the short term.


  • #3
    Diarmuid
    Registered Users, Registered Users 2 Posts: 3,981 ✭✭✭Diarmuid


    What do you suggest they do with the properties? They are more than likely making a loss on the properties. I'd imagine you'd need to be making a profit before you could be described as profiteering


  • #4
    Pablo Sanchez
    Closed Accounts Posts: 1,207 ✭✭✭Pablo Sanchez


    Its not profiteering, the properties need to be moved on for all concerned, might actually allow us to get a true snapshot of values in 2011 as the auction process is transparent.


  • #5
    whysomoody
    Registered Users, Registered Users 2 Posts: 226 ✭✭whysomoody


    Its the same when you buy shares low and sell high.


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