The Student wrote: » Perhaps we are a society need to take a look at ourselves and re-evalue what we want and what we can actually afford. In my view the system is broken and it is not working for anyone.
The Student wrote: » Yes I understand you refinance the loans but if you dont adhere to the payment terms of the original loan why would a new loan rate be less than the existing rate. If you are meeting your loan repayments then you are a good credit risk and the interest rate will reflect that, if you are not a good credit risk then the interest rate on any refinancing loan could be higher than you existing loan interest rate. So you are not saving any money. We are a high cost economy and if inflation increases we become less competitive with our competition (if their inflation rate does not increase like ours). We don't have the luxury of revaluing our currency what we need to do reduce our costs to be competitive. Perhaps we are a society need to take a look at ourselves and re-evalue what we want and what we can actually afford. In my view the system is broken and it is not working for anyone.
IAmTheReign wrote: » I don't want to drag the thread totally off topic but did you even open the link I posted? Not only are we meeting our payment terms, we've exceeded them.
rightmove wrote: » All the small LL that left were a cheap and compliant way to get tax with minimal effort...but they are now gone and more to follow. Youd wonder what is going on in Murphy's head???
The Student wrote: » There maybe merit in meeting our repayments and not overpaying and having a "rainy day fund" if we do this we need to use this fund productively but I don't think we are actually capable of this.
OwlsZat wrote: » There was no contribution to the rainy day fund. The supposed 500M was instead used to plug gaps.
The_Conductor wrote: » It was insufficient for the supplementary estimate that had to be voted through for the HSE (alone). Savings were actually made almost across the board in all other government Departments- as advised to PED. Our Health Service may be creaking at the seams- however, structually it is sound (just incapable of living within its means). The manner in which it constantly needs additional funds- every single year- has to be dealt with- they honestly seem to believe there is a magic money tree that keeps on giving. As for paying down our debts- it makes sense to refinance expensive debts for cheaper debts where possible. By doing a little switcheroo'ing we are paying over a billion a year less in interest, than we would otherwise be doing. That said- we have the third highest national debt per head of population globally- and while it might be affordable at current low interest rates, they may not stay low forever. Keep in mind at one stage over 40% of our gross tax take was being spent on interest payments. We cannot afford to go back to scary times like those (and those of us in our 40s and older will remember just how bad times were). We just seem to be politically inept here- subscribing to the budgetary discipline as prescribed by Brussels is one of the better aspects of the EU- it imposes fiscal discipline on us that we seem to be incapable of adhering to without international oversight. Its a pity that we can't exercise the self discipline that we need in this country ourselves- but we can't. Our own unique brand of parochial politics and push pump politicians, is a scourge on our people.
utmbuilder wrote: » I think Ireland is facing a real rental adjustment in the next 2 years and landlords will simply not be able to sustain what's coming. Building will be gone from state funded to private in next 24 months.
OwlsZat wrote: » Cairn Homes to sell 150 homes in Maynooth to Urbeo Residential. The new build-to-rent residential home buyer. The group are joint funded by Starwood capital an investment firm headquartered in Miami Beach, Florida and the Irish Strategic Investment fund ""an attractive local partner for third party investors in the Irish market". It's great that tax payers money is being used to assist Starwood capital generate a healthy yield. Could the state not just have bought them and put the return to future house building or do we only buy social housing? What a strange world we live in.https://www.rte.ie/news/business/2019/1128/1095665-cairn-homes-maynooth-and-clonburris-deal/
AlmightyCushion wrote: » If Starwood Capital are generating a healthy yield from this then so too will the Irish Strategic Investment Fund. Do you think the ISIF just gifted the money to Startwood?
OwlsZat wrote: » I don't know the terms of the deal, no more than you do. Although the article below indicates that the ISIF put in 60M into the 1B fund. If that's true we'll get about 5% of the returns with the other 95% headed for America.https://www.irishtimes.com/business/commercial-property/starwood-capital-and-urbeo-to-create-1bn-irish-build-to-rent-platform-1.3733823
AlmightyCushion wrote: » And if the state had decided to buy the whole thing, as you suggested, we would have needed to put in an additional €940M. Where does that money come from?
cameramonkey wrote: » 8 billion sitting in the credit unions with nowhere to go.
Padre_Pio wrote: » And that's people's savings. Keep your hands off.
missforgetfull wrote: » Hi Everyone, My house has been valued by different estate agents in the past few months. The figure we were told was €15,000 above where we currently stand. Have other people experienced this or does it happen often, getting over the asking price but under the value you expected? Also we are now 7 weeks on market, usually people are sale agreed between 6-8 weeks, will the recent slowdown in property change this timeframe?
super_furry wrote: » No changes to the mortgage lending rules from the Central Bank today. Get on the blocks and get ready to apply for those exemptions on January 1.https://www.rte.ie/news/business/2019/1204/1096988-central-bank-mortgage-rules/
Sloppy_Joe wrote: » And the pain continues.
super_furry wrote: » I mean I get it for people that are stuck, but the lending rules are working as intended. the report says: "Without the restrictions, the Central Bank estimates that house prices this year would been 15% to 25% higher than they currently are."
