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Respond Overpaying for NAMA Property?

  • 21-07-2012 11:41am
    #1
    Villa05
    Registered Users, Registered Users 2 Posts: 4,793 ✭✭✭


    A GROUP has bought an unfinished estate from NAMA to house people on waiting lists in the first project of its kind in the country.

    Locals, some of them languishing on housing lists for years, are to be given houses within 12 months in the country's first NAMA social housing project.

    Housing association Respond will buy 55 units of an unfinished housing estate at Oakley Wood, Tullow, Co Carlow from NAMA for €2.5m.
    http://www.independent.ie/national-news/ghost-estate-bought-from-nama-to-house-families-on-waiting-list-3174979.html

    Another utter waste of tax payers money, a better estate with a higher amount of completed units was sold for 649,000 (10,000 per unit)

    http://www.independent.ie/business/personal-finance/property-mortgages/63-houses-sold-for-just-649000-but-10000-per-unit-was-four-times-the-asking-price-3166674.html

    More to the point, the EA agent stated
    "The market is slow enough, so a price of €40,000-€45,000 would attract a lot of first-time buyers. It's good value for money."

    So a single FTB is prepared to pay between 40 and 45K for a completed unit in Tullow and at practically the same time an organisation buying houses in bulk (where one would expect a discount) is paying over 45k for units requiring "significant work"

    Que the story declaring NAMA makes a profit from from estate in Tullow, when in effect the taxpayer has been robbed again.

    Now can we stop paying the household charge untill such time as the people in charge of spending it are held to account for wasting it in Phil Hogans backyard.

    Is it any wonder that our children are queuing at the airports to get the hell out of this country.


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