new property tax, it must be a sick joke?

thms.kelly

the newly proposed property rates are an outrage, the people of ireland are suffering enough, yet we are asked to dig even deeper into our already empty pockets for money we do not have, bit by bit we are being forced out of our homes, its hard enough to pay the mortgage on overpriced houses that we had no choice but to buy,we pay large amounts of stamp duty that we had to borrow, and yet we are having to go along with this property tax, I THINK NOT,

we changed the governments decision on water rates once with our consolidarity!! lets force their hands now on this new outrageous property tax and let them know after all its our country

reply to this thread and i will forward it onto our so called government

Diarmuid

thms.kelly wrote: »

overpriced houses that we had no choice but to buy,

really? No choice?

thms.kelly

well we could have rented for silly money , or approached our local authority to see if they could house us??

skelliser

time for revolt

Diarmuid

thms.kelly wrote: »

well we could have rented for silly money , or approached our local authority to see if they could house us??

So you did have a choice, like those of us who did pay "silly money" to rent.

Kinetic^

thms.kelly wrote: »

well we could have rented for silly money , or approached our local authority to see if they could house us??

Nobody held a gun to your head and said buy so stop with that rubbish please. The reason for the property tax is to generate revenue to replace the shortfall from the lack of stamp duty being brought in due to the lower house prices and lower number of sales.

thms.kelly

at the time most of us bought our houses, the monthly payments on a mortgage where still cheaper than rent, the most financially viable option for most was to buy, is there anything wrong with wanting to buy?
im sorry if my post is upsetting the ff fans

Kinetic^

Kinetic^ wrote: »

The reason for the property tax is to generate revenue to replace the shortfall from the lack of stamp duty being brought in due to the lower house prices and lower number of sales.

Shortfall?! Maybe they should stop spending what they dont have and quit coming to us looking for money. The economy wont recover if they keep increasing taxes!

dvpower

thms.kelly wrote: »

at the time most of us bought our houses, the monthly payments on a mortgage where still cheaper than rent, the most financially viable option for most was to buy, is there anything wrong with wanting to buy?
im sorry if my post is upsetting the ff fans

Yes. But remember the advise that was been given out for people to stress test their repayment capacity. What would happen if ECB rates went up a few points? Can you afford your repayments if your circumstances changed (lost a job, had a child ...)?

People completely ignored this advise (and their own common sense). They went and borrowed deposits off their credit cards, included fictional rental income on their mortgage applications... and when things go sour, it wasn't their fault because they were encouraged to buy.:mad:

MysticalRain

thms.kelly wrote: »

at the time most of us bought our houses, the monthly payments on a mortgage where still cheaper than rent, the most financially viable option for most was to buy, is there anything wrong with wanting to buy?

No it wasn't financially sound advice to buy into a property bubble. Whoever told you to buy a house at the height of an artificially inflated property market obviously had a vested interest in egging you on so they could make a quick buck out of people like you. I wasn't gullible enough to buy a house during those times, so I don't have to worry about property taxes now.

im sorry if my post is upsetting the ff fans

I hate the current government as much as anyone. But I really wish people would take more personal responsibility for their decisions and quit offloading the blame onto the government.

thms.kelly

so it would have been better to pay some property investor rent for say 8 years?? at say 1200 a month? when a mortgae was 1000 per month!!that would have been better,
or me and my family could have bought a rather big cardboard box?

dvpower

thms.kelly wrote: »

so it would have been better to pay some property investor rent for say 8 years?? at say 1200 a month? when a mortgae was 1000 per month!!that would have been better,
or me and my family could have bought a rather big cardboard box?

If you bought eight years ago what are you complaining about? That was at the start of the bubble; you'd still be far into positive equity.

mikemac

thms.kelly wrote: »

its hard enough to pay the mortgage on overpriced houses that we had no choice but to buy

Sorry, no sympathy from me

If the house was overpriced and you still bought it then don't moan about it now.

chris85

thms.kelly wrote: »

so it would have been better to pay some property investor rent for say 8 years?? at say 1200 a month? when a mortgae was 1000 per month!!that would have been better,
or me and my family could have bought a rather big cardboard box?

depends when u bought... If i bought a house 2 years ago it may have dropped by €50k since then on an average house, i can assure u rent would be cheaper than that €50k lost money.

People who talk about rent being empty money are misinformed and ill just talk about there negative equity property if bought in last five years.

People are basically paying say a €300k mortgage on a property barely worth probably €240k now. thats wasted money.

This is all for recent buyers in last 4/5 years. older buyers arent affected as much from negative equity.

Diarmuid

thms.kelly wrote: »

so it would have been better to pay some property investor rent for say 8 years?? at say 1200 a month? when a mortgae was 1000 per month!!that would have been better,
or me and my family could have bought a rather big cardboard box?

Sorry but that is BS. At no time in the bubble could the same accommodation that was being rented at €1200 could have been bought for €1000 /month

A mortgage of €350,000 at 5% for 30 years is €1878/month. And that same house would need to earn a rental yield of 4.3% to charge €1200/month. During the bubble rental yields were less than 4%.

I had to sit through 10 years of being told by every Tom Dick and Harry that I had to get on the property ladder, that houses only go up, that rent was dead money, how they were trading up or buying an apartment in Bulgaria, people complaining that we were spending some much trying to "get" Saint Bertie etc... Now all I hear is people screaming blue murder because they were "forced" to buy and are stuck with over priced assets. Well, sorry if I can't share your outrage

chris85

mikemac wrote: »

Sorry, no sympathy from me

If the house was overpriced and you still bought it then don't moan about it now.

+1

if they were overpriced in peoples opinions then it should not have been bought.. should have rented instead for few years and would have been better in terms of equity. a lot of money would have been saved from renting instead of buying

dvpower

Diarmuid wrote: »

Sorry but that is BS. At no time in the bubble could the same accommodation that was being rented at €1200 could have been bought for €1000 /month

Unless this figure was taken from an ad placed by a mortgage broker offering a discounted first year introdutory rate on a 35 year loan... and you didn't bother to read the small print or apply common sense.

Hootanany

Peeps we will have to take to the streets cut the bloated public secter first

merlynthewizard

Diarmuid wrote: »

really? No choice?

Well when you were paying more in rent than what a mortgage would be..

snaps

Hootanany wrote: »

Peeps we will have to take to the streets cut the bloated public secter first

Yes we need to start doing something to get out of this mess. NO to Lisbon again is the 1st step to get this corrupt government out. Take to the streets and protest is another step.

snaps

Kinetic^ wrote: »

Nobody held a gun to your head and said buy so stop with that rubbish please. The reason for the property tax is to generate revenue to replace the shortfall from the lack of stamp duty being brought in due to the lower house prices and lower number of sales.

Why should people that have already paid stamp duty have to fork out on property tax as well? Its not their fault the arse has fallen out of the property market!

Sesshoumaru

merlynthewizard wrote: »

Well when you were paying more in rent than what a mortgage would be..

A mortgage over 35 years? How can you be sure that for every year of all those 35 years you would be paying less on mortgage repayments than you would be on rent?

I wish people would have put a little thought into their purchases. A lot of people who bought in the recent past were getting mortgages over 35 years. That's a bloody long time!!! and for what? 4 walls and a roof?!?!

thms.kelly

we seem to be having two opinions those who have a mortgage and those who dont, to the ones who dont, just be happy in the knowledge that you are not paying a property tax yet!! until you landlords pass it on that is

Diarmuid

merlynthewizard wrote: »

Well when you were paying more in rent than what a mortgage would be..

again. show me the figures.

thms.kelly wrote: »

we seem to be having two opinions those who have a mortgage and those who dont, to the ones who dont, just be happy in the knowledge that you are not paying a property tax yet!! until you landlords pass it on that is

Show us your figures. Nothing to do with opinions, it's just facts.

Diarmuid

snaps wrote: »

NO to Lisbon again is the 1st step to get this corrupt government out.

The most retarded reason to vote NO of all time. Even every credible opposition party agrees.

thms.kelly

what are you talking about figures, do you think your landlord will not pass on the property tax, do you really think it will not be passed on??

Sesshoumaru

thms.kelly wrote: »

what are you talking about figures, do you think your landlord will not pass on the property tax, do you really think it will not be passed on??

Lots of houses for rent, not so many people who want to rent. I think that's why rent has been dropping so dramatically? no?

If the landed class don't want to pay their property tax, they can always sell! sell their second house, third house, fourth house etc etc

ronbyrne2005

snaps wrote: »

Why should people that have already paid stamp duty have to fork out on property tax as well? Its not their fault the arse has fallen out of the property market!

PRoperty buyers didnt really pay stamp duty, the vendor they bought from did through a lower price for his house. Say a person was buying a property for 400k plus 30k stamp duty, if on the day of buying the house the governmnet scrapped stamp duty the price of the house would jump by close to 30k that didnt have to be paid in stamp duty as any underbidder would have more finance and bid up price and this would happen across the market.

When stamp duty is removed the price of house will rise CETERIS PARIBUS. This isnt always clear in a falling market but its reality.

gandalf

The more I think about it the more I think this proposal is in the report as a smokescreen. I honestly do not believe the government will have the balls to go through with a property tax as proposed in the report. It is there to get people all riled up and then for the politicians to say that after consideration they won't implement the tax to make us more placid on those taxes that they are bringing in without them actually making the really hard decisions and reforming Government finances by spending and wasting less taxpayers money.

Diarmuid

thms.kelly wrote: »

what are you talking about figures, do you think your landlord will not pass on the property tax, do you really think it will not be passed on??

you claimed that you could buy a house/apartment cheaper than you could rent during the boom hence you were forced to buy. So what was the price for the house and what were the rents.

hobochris

gandalf wrote: »

The more I think about it the more I think this proposal is in the report as a smokescreen. I honestly do not believe the government will have the balls to go through with a property tax as proposed in the report. It is there to get people all riled up and then for the politicians to say that after consideration they won't implement the tax to make us more placid on those taxes that they are bringing in without them actually making the really hard decisions and reforming Government finances by spending and wasting less taxpayers money.

I think most things this government do are a smoke screen, its a case watch our left hands as our rights ones are taking the money out of your pocket.