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€100,000 houses in liquidation sale

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Comments

  • Registered Users Posts: 13,068 ✭✭✭✭jmayo


    Looking at the whole scheme it appears to be a way of prolonging the inevitable.
    Look at case of the liquidation sale in Cavan, at least you can see that the hosues have dropped in value and if there were more of these sales then eventually the bottom would be reached.

    By NAMA (i.e. the taxpayers of this country) taking these loans, firstly will it transpire that the assets are not take from developers and secondly will the state hold onto them until they reckon that they were worth something.
    In other words is the state not keeping the property values artifically high ?

    If only Angloa had been cast adrift and the real banks saved we would not be looking at carrying the can for McNamara, Fleming, Carroll et al :rolleyes:


  • Closed Accounts Posts: 6,123 ✭✭✭stepbar


    jmayo wrote: »
    Ballinagh is just surrounded by farmland formmy memory of the place.
    Not great village either :rolleyes:

    Did Cavan Crystal close down around time hotel built ?
    Only big non state employer in Cavan would be Quinn I presume ?

    Pritty much and a few sporadic housing estates.

    Cavan Crystal is still opened on the same site, abeit on a smaller scale. Around that time the hotel started to operate. A radio station occupied part of the building for some time until a fire destroyed it.

    Quinn, Pauwels and Elliotts are probably the biggest employers in the locality.


  • Closed Accounts Posts: 6,679 ✭✭✭Freddie59


    jmayo wrote: »
    Looking at the whole scheme it appears to be a way of prolonging the inevitable.
    Look at case of the liquidation sale in Cavan, at least you can see that the hosues have dropped in value and if there were more of these sales then eventually the bottom would be reached.

    By NAMA (i.e. the taxpayers of this country) taking these loans, firstly will it transpire that the assets are not take from developers and secondly will the state hold onto them until they reckon that they were worth something.
    In other words is the state not keeping the property values artifically high ?

    If only Angloa had been cast adrift and the real banks saved we would not be looking at carrying the can for McNamara, Fleming, Carroll et al :rolleyes:

    And no doubt some of these ""developers"" may, down the road, buy them back at a reduced reate. Through a third party. Just a thought.:rolleyes::mad:


  • Banned (with Prison Access) Posts: 130 ✭✭tedstriker


    House prices are continuing to drop so this guy is way ahead of the pack by offering the price so low. We are just so conditioned to excessive prices that this seems unreal but it is actually a proper price for a house of this type in this location.


  • Closed Accounts Posts: 6,679 ✭✭✭Freddie59


    tedstriker wrote: »
    House prices are continuing to drop so this guy is way ahead of the pack by offering the price so low. We are just so conditioned to excessive prices that this seems unreal but it is actually a proper price for a house of this type in this location.

    Too true. We bought a house recently for €175k. There are other houses in the same estate still on at €299k/€290k. The peak price was €320k. So, going by that link, we've bought (roughly) at Feb 00 prices. Signs of things to come. And not before time. It's the only way the property market will be kick-started. Reality.


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  • Closed Accounts Posts: 3,494 ✭✭✭ronbyrne2005


    Rebelheart wrote: »
    And a lot cheaper than this, too - unless of course the government invents an organisation which is designed to pay banks a higher amount of money ....

    Imagine how cheap houses would get if the government of this state were not using our taxes to prop-up the banks and their developer friends. How many more examiners would have to be appointed to offload empty houses by reducing prices dramatically as the only way to get money back from bankrupt developers?

    PS: No wonder bank shares rose dramatically this morning, just after the details of the state's handout via Nama were released. AIB has risen 7.25% so far today and Bank of Ireland has risen 8.14%: http://www.rte.ie/business/markets/iseq.html


    Dont mind those small rise, the big scam is bank shares have risen ten fold over past 6months. If you had put a spare 50k into bank shares at their lows they would be worth half a million now all as a result of the perception/fact that government thru NAMA is gonna be a massive bailout for the banks/shareholders. Imagine if you had friends high up in government or department of finance and knew the detailsof NAMA before it was announced and bought shares with this inside info, you'd have made a fortune. ;)


  • Closed Accounts Posts: 6,679 ✭✭✭Freddie59


    Dont mind those small rise, the big scam is bank shares have risen ten fold over past 6months. If you had put a spare 50k into bank shares at their lows they would be worth half a million now all as a result of the perception/fact that government thru NAMA is gonna be a massive bailout for the banks/shareholders. Imagine if you had friends high up in government or department of finance and knew the detailsof NAMA before it was announced and bought shares with this inside info, you'd have made a fortune. ;)

    Most probably already have.:mad:


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