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Housing Bubble Bursting

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    #7352
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    I think in a normal market the average house price, ,is 3 or 4 times the average wage .
    IN the boom the banks were lending over 7 times the average wage ,
    and they,d say put down , on the form,
    You,ll rent out 1 room to increase your income.
    to make the figures look good.
    And a couple would borrow twice as much,lets
    ignore the fact a some point women want to have kids .
    And may reduce the time they spend at room.

    AS long as prices were going up nobody complained, and the bankers and civil servants
    were getting bonus,es or big pensions.


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    #7353
    Tea drinker
    Registered Users Posts: 2,818 ✭✭✭Tea drinker


    jmayo wrote: »
    You do know that in probably every banking jurisdiction in the world there is some form of protection for depositors.
    Otherwise why would anyone deposit money in a bank.
    Well reasons to deposit money in a particular bank is
    a) make money
    b) it appears safer or otherwise more appealing than other competing banks.


    It's up to governments to make sure the regulations are sufficient to protect both the bank and consumer.
    We know there was little corporate or other governance, same as lax regulations to build apartments, no noise regulations.
    All in all you would have to have awfully low expectations to be satisfied with the performance of the people in execution of their jobs in civil service, government and the banks. Farcical.


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    #7354
    Tea drinker
    Registered Users Posts: 2,818 ✭✭✭Tea drinker


    jmayo wrote: »
    Even better there has been a thread over in politics.ie where one mortgage strategic defaulter is claiming that Irish bank depositors were "bailed out" by the bank guarantee and now he wants them hit so that his and other mortgage defaulters' debts are wiped out.

    I kid you not he actually said it is about time depositors took a hit for the ones in mortgage trouble.

    He isn't some poor devil in trouble through no fault of his own, he chose to give up his job so that he didn't have money to repay the bank because his mortgage is now worth more than the house.

    This is the madness that prevails in modern day Ireland.
    and probably hiding among the "Aw janey mack I don't have a penny let alone money for a mortgage begorrah" crowd. Same like those 2 feckers camped outside their luxury pad, until the media got hold of the fact they had another 20 houses in Ireland and UK.
    Jesus H Christ, see this is why I don't want to talk with Irish people anymore, just pointless beating your head against an oak tree.


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    #7355
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    jmayo wrote: »
    Even better there has been a thread over in politics.ie where one mortgage strategic defaulter is claiming that Irish bank depositors were "bailed out" by the bank guarantee and now he wants them hit so that his and other mortgage defaulters' debts are wiped out.

    I kid you not he actually said it is about time depositors took a hit for the ones in mortgage trouble.

    He isn't some poor devil in trouble through no fault of his own, he chose to give up his job so that he didn't have money to repay the bank because his mortgage is now worth more than the house.

    This is the madness that prevails in modern day Ireland.

    I know who you're on about and more fool you for taking him seriously. He's had so many holes poked in his story that it resembles a sieve.


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    #7356
    jmayo
    Registered Users Posts: 13,105 ✭✭✭✭jmayo


    gaius c wrote: »
    I know who you're on about and more fool you for taking him seriously. He's had so many holes poked in his story that it resembles a sieve.

    Check when I gave up on the thread.
    IMHO if you say nothing to these then some others actually start believing it.
    This type of cr**, even if spouted by a troll, has to be challenged because otherwise it starts gaining traction.
    If we sit back and say nothing then the ground is taken by the anti eviction, anti repossession, believers in magic money trees, the freemans la la land gang.

    There are ones out there who do seriously think that there debts should be written off while they get to keep their properties.
    And some of the same crew now probably have no issues with dipping into others savings to do it.


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    #7357
    yagan
    Registered Users Posts: 2,613 ✭✭✭yagan


    jmayo wrote: »
    There are ones out there who do seriously think that there debts should be written off while they get to keep their properties.
    And some of the same crew now probably have no issues with dipping into others savings to do it.
    The banks didn't complain about socialism when we absorbed their debt, social services charge wasn't it?


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    #7358
    Brussels Sprout
    Registered Users Posts: 6,557 ✭✭✭Brussels Sprout


    You really gave that response some thought.


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    #7359
    yagan
    Registered Users Posts: 2,613 ✭✭✭yagan


    Brussels Sprout wrote: »
    You really gave that response some thought.
    It's deja vu around here right now with the empties piling up.


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    #7360
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,795 Mod ✭✭✭✭L1011


    There are times when bouncing a thread is appropriate, and there are times where it isn't. This is the latter. Don't go trawling again


This discussion has been closed.
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