Yurt! wrote: » More than likely, these are going straight into the hands of REITs in-bulk for them to sit on. My question was rhetorical, if a couple / individual has 362k to spend, they're not about to spend it on a two bed unit in Drogheda.
Ush1 wrote: » Of course not, but Louth County Council have other peoples money. Value for money is not a priority. I seriously doubt any REIT would be paying that price either.
Yurt! wrote: » REITs have been paying over the odds (far more than mortgage approved couples and cash in hand investors are willing to pay) for new-build apartments for years now -- and, letting them sit empty in many cases. These will go to REITs, and not at sum less than 362k. They're making a play that councils under pressure from central government will act as price takers and will lease them long-term. They may be right unless we have a government that takes their head out of their a*s and shouts stop.
Ush1 wrote: The price could be totally different for the non social units. Builders know the government has deep pockets.
JimmyVik wrote: Probably cost an absolute fortune for the tax payer.
PropQueries wrote: » Well if those c. 90,000 currently vacant homes are taxed at e.g. €10k each per annum, that just might make up for the expected shortfall in our share of the EU Brexit fund that may now be reduced and the Government had already most likely probably factored into next years budget. From yesterday's Irish Times: "Irish share of €5bn EU Brexit fund could be slashed under French plan" Link to article here: https://www.irishtimes.com/business/economy/irish-share-of-5bn-eu-brexit-fund-could-be-slashed-under-french-plan-1.4512255
cnocbui wrote: » Nice wind up from under your bridge, there. :rolleyes:
Yurt! wrote: » Not pointing fingers at any particular poster, but there are some who are of the view that if you own the deeds to a property, and are on the right side of a property boondoggle, that a proportionate tax for the public good that prevents dereliction, underutilisation of housing stock and unproductive and destructive speculation is akin to the Soviet Union. That's not adult, and it's not the real world. We've a lot of growing up to do with housing and property in this country.
cnocbui wrote: » Well you will be glad to know that I am in the process of selling one property, and if that completes, I'll be selling the other and can then join you socialists in being unencumbered by property. It can't happen fast enough.
Yurt! wrote: » Why makes you think I'm not a property owner or that I'm 'a socialist'? You'd be wrong on both counts. You've fallen into the everyone I disagree with is a communist wormhole again cnoc.
schmittel wrote: » These threads have not quite unleashed the socialist in me, but i’ve definitely discovered hitherto well hidden leftie tendencies in myself since participating on here.Then I read the council might pay the guts of 400k for a two bed apartment in Drogheda and the rabid right winger free marketeer takes over again. It’s all very confusing.
Yurt! wrote: » I'm not sure you'd call government paying developers through the nose for housing units (sometimes on land they sold to the developer at a deep discount) a core tenant of socialism -- dummyism maybe?
France Tried Soaking the Rich. It Didn’t Go Well. A wealth tax and sky-high rates on top incomes didn’t yield much revenue. ... France had a wealth tax from 1982 to 1986 and again from 1988 to 2017. The top rate was between 1.5% and 1.8%, with the total tax rate on fortunes larger than 13 million euros ($14.3 million) hovering at about 1.4%. This is much less than the 6% top rate proposed by Warren (not to mention the 8% proposed by her fellow candidate, Senator Bernie Sanders), but it's close to the 2% rate Warren would impose on fortunes larger than $50 million. The wealth tax might have generated social solidarity, but as a practical matter it was a disappointment. The revenue it raised was rather paltry; only a few billion euros at its peak, or about 1% of France’s total revenue from all taxes. At least 10,000 wealthy people left the country to avoid paying the tax; most moved to neighboring Belgium, which has a large French-speaking population. When these individuals left, France lost not only their wealth tax revenue but their income taxes and other taxes as well. French economist Eric Pichet estimates that this ended up costing the French government almost twice as much revenue as the total yielded by the wealth tax. When President Emmanuel Macron ended the wealth tax in 2017, it was viewed mostly as a symbolic move.
NSW to digitise the whole property sector NSW will expand its e-planning portal to digitally integrate all relevant regulatory, approval, transaction and compliance requirements into a single system.
Hubertj wrote: » Same can be said for pretty much the provision of all public services. Our beloved public servants don’t give a toss as they aren’t accountable. It’s not their money.
cnocbui wrote: » My son applied for an Irish passport 18 months ago. The public servants who should have been doing work on such applications have been sitting at home drawing their salaries and doing not a lick of work for them and will continue to do so for the forseeable future. Meanwhile, the NCT is still open for business, despite a massive reduction in vehicle movements and wear and tear on them. If you order something online from outside the EU customs and excise still seem to be at it and will happily ask you to cough up when it arrives, but 24+ months to process a passport application and tie up critical ID documents for that period of time is ok.
MacronvFrugals wrote: » Is it conspiratorial to say the rental sector was made extremely attractive for international funds by central government with the sole intention of lifting Tiger era buyers out of negative equity and removing toxic assets?
Yurt! wrote: » https://www.independent.ie/life/home-garden/homes/michael-noonan-wants-house-prices-to-rise-further-30192456.html There can be little doubt about it. I love the video in this article, a cocksure Noono scratching the armrest telling us he's it all figured out between NAMA and 'international investors' poo-pooing the prospect of another price boom. John Delaney looking on in awe. Alarm bells were starting to ring by 2016 rents started to go haywire and evictions from funds started to make themselves known.
combat14 wrote: Prepare for rise in interest rates and price inflation, Varadkar warns
combat14 wrote: more talk of issues with national debt repayments today also mention of 16,000 in danger of losing their house once PUP repayments stop
Wanderer78 wrote: » Surprise surprise, from a fiscal conservative! Rates arent going anywhere, we 're no where near full employment, and unemployment is likely to rise once pup is removed. And again, rising public debt isn't anything to worry about, it's just the public entity of the money supply, far safer than having it in the private sector. The ecb has more or less stated it won't allow any country to default, it simply can't, so plough on with the borrowing, protect as many jobs as possible, particularly in the private sector
Wanderer78 wrote: » Rates arent going anywhere, we 're no where near full employment
SmokyMo wrote: » The magic of QE is slowing losing its power, you can only swallow debt for so long. Speculation that inflation will blow past 2% target. Some arguing that inflation is already here, from housing market to stock market. Your buying power is not the same as before.
Zenify wrote: » Rates aren't linked to full employment, they are linked to inflation. That's why Central Banks are supposed to be seperate from government because they aren't supposed to be influenced by other factors "supposed". One could argue that you won't get inflation without full employment. But this theory has been thrown out in recent years as we had full employment and QE without inflation. I think you accept we will have inflation as you agreed in the forum below. If you accept inflation you will have to accept rate increases. All this talk from central bankers "we don't expect rate increases until 2024" (US) is just to calm the markets. I think central bankers are the most carefully worded people in the world. They didn't say they wouldn't increase them. The affect of rate increases here on mortgage holders struggling just after a pandemic is going to come at the worst possible time.https://touch.boards.ie/thread/2058141488/1
MacronvFrugals wrote: » I work in an extremely successful tech SME doing ‘lick all work’ sure aren’t most office jobs like that, we drink more tea than work!
Wanderer78 wrote: » yup, the only place we re seeing inflation is in asset markets, while the rest of the economy is in deflation! money needs to be put directly into the real economy, or we ll end up in serious trouble rates arent going anywhere, central banks know economies cant take it, it would cause many economies to crash, plough on with the borrowing folks. we need inflation in the economy, our debts are becoming too much to bare, if we dont get some form of inflation, we may face stagnation, due to our debts
Zenify wrote: » Wrong, inflation is not just in asset markets. Even our politicians are warning about interest rates and inflation. Do you disagree with them?https://www.google.com/amp/s/www.irishtimes.com/business/prepare-for-rise-in-interest-rates-and-price-inflation-varadkar-warns-1.4514144%3fmode=amp
