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Stories from the Celtic Tiger Years Mod Warning in OP PLEASE READ

chops018

Does anyone have any good (or bad) stories from the Celtic Tiger years?

You always hear phrases about how people partied etc., was there just a constant flow of credit available to people and people actually taking the money e.g. was there actually teachers on circa €30k a year buying a house and car and an apartment somewhere.

I was in school and college during these years, graduated into the recession, so I didn't really see what was fully going on at the time bar the fact everyone was working and had money. My dad was working on the buildings on great money and my mam was working away also, we were never stuck really money-wise, also rent seemed to be a lot cheaper back then and fuel and also my college fees were only around €800 a year along with wages being fairly similar to what they are now (from what I can remember anyway, will stand corrected if I am wrong)

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RasTa

I remember working in Xtra-vision at the time. This builder used to come in and rent 2 movies at a time for €4.75 each and the fine was the same for each day they where late. Every single time he would bring them back 7-14 days(think the fine stopped rising after 7 days) but he would return them and rent out another two costing about €80 every visit.

This was going on for a year or so, the manager loved him.

tedpan

colm_mcm wrote:

There was a housing estate (Alderwood) in D15 where they gave you a â€œfreeâ€ Volvo C30 with every house.

ReginaldSmythV wrote:

Is that the one behind the Johnson Mooney and O'Brien factory where they were all lied to about them moving site?

They're the pyrite plagued houses in hollystown..

Zebra3

Nigel Fairservice wrote: »

I always remember this banking ad from those times. The banks more or less saying we don't care what you want the money for.

I assume no action was taking against the bank for encouraging people to lie about their loan applications.

"Understanding Banking" ended up with €7Bn in bad debts.

One More Toy

Sky King wrote: »

She Glanza lad. Quare quick.

What is she on the logbook?

riclad

Young people are not better off if they live in an urban area and have to pay high rent, in the celtic tiger years rents were much lower than now.
There were not so much gig jobs like people delivering online food orders.
It was easier for young people to buy a house than it us now

Zebra3

riclad wrote: »

It was easier for young people to buy a house than it us now

It's not about how easy it is for someone to buy a house, it's about ensuring people have a reasonable good chance of keeping up with the mortgage repayments.

[Deleted User]

Zebra3 wrote: »

It's not about how easy it is for someone to buy a house, it's about ensuring people have a reasonable good chance of keeping up with the mortgage repayments.

Ideal it is, but in reality it’s not. Banks have gone form letting you buy regardless to not letting you buy regardless in most cases.

Zebra3

ReginaldSmythV wrote: »

Ideal it is, but in reality it’s not. Banks have gone form letting you buy regardless to not letting you buy regardless in most cases.

Well, a good bit has to do with whole developments being sold to vulture funds and the like so ordinary folk don't even get a chance to try to buy.

The beauty of the so-called free market.

Cal4567

Came back in 2004 with the family. Was shocked at the level of notions some people had taken and was laughed at because I wasn't buying a buy to let, or even 2 or 3 of them as I'd need them for my 'pension'.

Happy to see the back of the Celtic Tiger. Greed had become a religion.

CIP4

I was young enough during the boom years in secondary school but 2006 and 2007 really stand out in my mind as being the real peak of it. It was completely different times anything was possible people just bought what they wanted when they wanted everyone even in very average jobs had new cars. My parents did well during it but worked hard and didn't go completely mad they had their own business in the construction industry which they spent most of their time turning down work with builders begging them to take on more and more jobs and them just unable to get enough staff even paying mad salaries. I suppose the recession really hit hard then on a lot of people as the sheer levels of debt so many had.

There was a few saying the boom is back last year its not even close and will never be what it was back then as banks are so tight with mortgage rules which I am not necessarily saying is a bad thing but it will keep it pulled back. 2019 didn't even come close to 2007 really. Truth be know if banks came out in the morning and did 100% mortgages 5 plus times your salary I am sure plenty would jump for them straight away.

linguist

The OP asked about teachers on modest salaries heavily leveraged on foreign properties etc. Yes, as a teacher I can absolutely confirm that although it needs huge qualification.

It was actually quite tough to get a permanent teaching job through all those years. Ironically, that was only rectified in 2015 as we were coming out of the crash. So the people who tended to be in that situation were the ones who came in up to the early to mid 90s who were well set up as the Tiger came in. The 'younger' ones were struggling on non-permanent contracts watching property prices spiral. Many of us are saddled with mortgages from the years before the crash so no risk of such luxuries there I can assure you.

But I definitely knew people who did have huge commitments and when austerity and pay cuts came in for the public sector during the crash they were absolutely in trouble. I knew one guy in particular with his family home in Dublin, second home in Cork where he was from, a holiday home in Bulgaria and an investment property in France! Personally, I'm glad I didn't get got up in that. It's just bonkers when you think about it.

[Deleted User]

Cal4567 wrote: »

Came back in 2004 with the family. Was shocked at the level of notions some people had taken and was laughed at because I wasn't buying a buy to let, or even 2 or 3 of them as I'd need them for my 'pension'.

Happy to see the back of the Celtic Tiger. Greed had become a religion.

It lives on unfortunately. People never went back to normal after it ended. Irish people are some of the greediest on the planet.

antimatterx

linguist wrote: »

The OP asked about teachers on modest salaries heavily leveraged on foreign properties etc. Yes, as a teacher I can absolutely confirm that although it needs huge qualification.

It was actually quite tough to get a permanent teaching job through all those years. Ironically, that was only rectified in 2015 as we were coming out of the crash. So the people who tended to be in that situation were the ones who came in up to the early to mid 90s who were well set up as the Tiger came in. The 'younger' ones were struggling on non-permanent contracts watching property prices spiral. Many of us are saddled with mortgages from the years before the crash so no risk of such luxuries there I can assure you.

But I definitely knew people who did have huge commitments and when austerity and pay cuts came in for the public sector during the crash they were absolutely in trouble. I knew one guy in particular with his family home in Dublin, second home in Cork where he was from, a holiday home in Bulgaria and an investment property in France! Personally, I'm glad I didn't get got up in that. It's just bonkers when you think about it.

I'd take 5* my salary, but I wouldn't take a 100% mortgage.

gmisk

I think the majority of the madness passed me by tbh.
I did my placement from college in a bank around 2000 the parties were excellent the Xmas one was in a really plush 5 star hotel open bar, bands etc. There were quite a few others.
After college I was a contractor for Accenture the money was seriously good, so took a lot of holidays to really nice hotels but don't regret any of them. My partner at the time was a solicitor though serious money sloshing about I think the majority of them were on coke.... he bought quite a few new Mercedes when we were together. I think my parents instilled a general aim to not be in debt so never really had any.

Then joined CS about 2006ish and been there ever since working my way up, I did manage to buy a decent house in a decent area not long after the crash.

tonycascarino

ReginaldSmythV wrote: »

It lives on unfortunately. People never went back to normal after it ended. Irish people are some of the greediest on the planet.

100% agreed. There are many around still trying to pretend that the recession didn't affect them when in fact they haven't two cents to rub together in reality. They can't let go of the fake Celtic Tiger image they created for themselves from borrowed money.

Sultan of Bling

tonycascarino wrote:

100% agreed. There are many around still trying to pretend that the recession didn't affect them when in fact they haven't two cents to rub together in reality. They can't let go of the fake Celtic Tiger image they created for themselves from borrowed money.

I found during that era that what people said they had and what they really had were two completely different things.

Muscles Schultz

Nigel Fairservice wrote: »

I always remember this banking ad from those times. The banks more or less saying we don't care what you want the money for.

Tasty wee lass that ching ching wan. What ever happened to her?

[Deleted User]

Jaysus it’s Tommy the ram.

PhilOssophy

KoolKluxKlan wrote: »

Who could forget this guy with his 50 notes
https://m.youtube.com/watch?v=00umb7Cdgdk

That was about 4-5 years ago - definitely not at the peak of any boom. I suspect he was taking the p......

antiskeptic

Am reminded of it all when I see a 2007 Range Rover on the road. All the rage they were.

Although immersed in taxi drivers telling me I was 'debt poor' because I hadn't a rental property I hadn't jumped in. But the drumbeat brainwashing does get to you. Found myself chatting to a well to do businessman mate of mine, who had a number of rentals in his wider portfolio. Said he could get me preferential rates - not the normal BTL punter rates. Thought about it, long fingered it, the crash, which was already in motion became manifest.

Lucky escape.

Motivator

This thread got me talking to my father about different lads that were high flyers back in the good old days and we played a game of where are they now. One particular fella had a pair of balls on him in the late 90s and early 2000’s, he made a fortune building houses and living in them for one year and then selling them on for huge money. He built and lived in 10 different houses and cleared a couple of hundred thousand profit on each one. He got an inheritance from his father and could have lived off a pile of cash for the rest of his days. The story is he had access to about €10m in cash and blew the lot in the space of two or three years. He was expecting the 2008 recession to last only a short time and kept dipping back into different markets expecting to be worth twice as much when things improved - he got that one wrong. He used to fly first class all over the world and spent about 6 months abroad every year. Every Friday night he’d go to the bar in the golf club and spend his evening sitting at the bar where others would audition for a chance to be invited to play golf with him on the Sunday. Where is he now? Living with his mother and working odd jobs to make a few quid. His nerves went and he suffered badly when it all went belly up.

Another one mentioned today was the local nightclub mogul. He had 5 or 6 pubs and clubs and was meant to be worth a fortune. His wife was the ultimate bint - mink coats doing her shopping, nearly driving her Range Rover in the gates of the local school to pick her children up, inviting a select number of pals to the chalet in the alps each winter. When the husband lost the lot she ended up in a mental hospital and the husband opened a chipper.

Muscles Schultz

Motivator wrote: »

This thread got me talking to my father about different lads that were high flyers back in the good old days and we played a game of where are they now. One particular fella had a pair of balls on him in the late 90s and early 2000’s, he made a fortune building houses and living in them for one year and then selling them on for huge money. He built and lived in 10 different houses and cleared a couple of hundred thousand profit on each one. He got an inheritance from his father and could have lived off a pile of cash for the rest of his days. The story is he had access to about €10m in cash and blew the lot in the space of two or three years. He was expecting the 2008 recession to last only a short time and kept dipping back into different markets expecting to be worth twice as much when things improved - he got that one wrong. He used to fly first class all over the world and spent about 6 months abroad every year. Every Friday night he’d go to the bar in the golf club and spend his evening sitting at the bar where others would audition for a chance to be invited to play golf with him on the Sunday. Where is he now? Living with his mother and working odd jobs to make a few quid. His nerves went and he suffered badly when it all went belly up.

Another one mentioned today was the local nightclub mogul. He had 5 or 6 pubs and clubs and was meant to be worth a fortune. His wife was the ultimate bint - mink coats doing her shopping, nearly driving her Range Rover in the gates of the local school to pick her children up, inviting a select number of pals to the chalet in the alps each winter. When the husband lost the lot she ended up in a mental hospital and the husband opened a chipper.

How do you mean audition to play golf with him? Tell jokes? Sing a sing? Expose their pee-pees or vjjs?

pgj2015

Motivator wrote: »

This thread got me talking to my father about different lads that were high flyers back in the good old days and we played a game of where are they now. One particular fella had a pair of balls on him in the late 90s and early 2000’s, he made a fortune building houses and living in them for one year and then selling them on for huge money. He built and lived in 10 different houses and cleared a couple of hundred thousand profit on each one. He got an inheritance from his father and could have lived off a pile of cash for the rest of his days. The story is he had access to about €10m in cash and blew the lot in the space of two or three years. He was expecting the 2008 recession to last only a short time and kept dipping back into different markets expecting to be worth twice as much when things improved - he got that one wrong. He used to fly first class all over the world and spent about 6 months abroad every year. Every Friday night he’d go to the bar in the golf club and spend his evening sitting at the bar where others would audition for a chance to be invited to play golf with him on the Sunday. Where is he now? Living with his mother and working odd jobs to make a few quid. His nerves went and he suffered badly when it all went belly up.

Another one mentioned today was the local nightclub mogul. He had 5 or 6 pubs and clubs and was meant to be worth a fortune. His wife was the ultimate bint - mink coats doing her shopping, nearly driving her Range Rover in the gates of the local school to pick her children up, inviting a select number of pals to the chalet in the alps each winter. When the husband lost the lot she ended up in a mental hospital and the husband opened a chipper.

He was right. a chipper is a business that does well in a recession.

afatbollix

Remember the D4 guy who was caught with 1.5Kg of coke worth 60K+ who said it was for personal consumption? and that was normal for a guy who earned as much as him, Got away with it too.

Motivator

Muscles Schultz wrote: »

How do you mean audition to play golf with him? Tell jokes? Sing a sing? Expose their pee-pees or vjjs?

Tell him how great he was, listen to him tell them how great he was. He used to run a mini bus to Waterville in Kerry every summer to play golf and to some fellas, an invite was like winning the lottery.

A very well known “property developer” used to breed and own very successful horses and he used to ferry the hangers on to Galway and Aintree in his helicopter. Before he made his money, the same men wouldn’t piss on him if he was on fire.

thecretinhop

Forget this one.
was in college in dublin was at a talk by some clown. After wine had row with advertising and marketing clowns. at end about 12 bottles of wine 5 or 6 just opened.
Pissed, staff said take them.
like a trooper marched to home digs.
on bus next day got home.
Christmas 23rd de loads of tarquins and soairses.
All de way back hearing how expensive presents they had all bought.
i started sweating, i had all de wine in me bag.
got home checked corks bout a millimeter on a good few from coming off....

Motivator

pgj2015 wrote: »

He was right. a chipper is a business that does well in a recession.

Some comedown from having an empire of nightlife spots and a nice Porsche GT outside the front door.

Muscles Schultz

thecretinhop wrote: »

Forget this one.
was in college in dublin was at a talk by some clown. After wine had row with advertising and marketing clowns. at end about 12 bottles of wine 5 or 6 just opened.
Pissed, staff said take them.
like a trooper marched to home digs.
on bus next day got home.
Christmas 23rd de loads of tarquins and soairses.
All de way back hearing how expensive presents they had all bought.
i started sweating, i had all de wine in me bag.
got home checked corks bout a millimeter on a good few from coming off....

Say again? English please....

Gretas Gonna Get Ya!

thecretinhop wrote: »

Forget this one.
was in college in dublin was at a talk by some clown. After wine had row with advertising and marketing clowns. at end about 12 bottles of wine 5 or 6 just opened.
Pissed, staff said take them.
like a trooper marched to home digs.
on bus next day got home.
Christmas 23rd de loads of tarquins and soairses.
All de way back hearing how expensive presents they had all bought.
i started sweating, i had all de wine in me bag.
got home checked corks bout a millimeter on a good few from coming off....

thecretinhop

lol ok

end if year seminar some guest speaker

hated most in course got pissed

due to celtic tiger wine was top notch

about a few hundred e of wine being thrown out

i took it home on bus

some of wine was recorked

by the talk on de bus bus suitcase area wedged with expensive presents.

my 5 or 6 litres of wine lol u get it?