We've hit bottom!

oflahero

theg81der wrote: »

All that unrealistic positive thinking and down with the nah sayer thing got us into this mess how the hell do these morons think it`ll get us out of it!

Some people need to have their copy of "The Secret" taken off them and burned.

Just finished Barbara Ehrenreich's book then I take it??

theg81der

oflahero wrote: »

Just finished Barbara Ehrenreich's book then I take it??

No I wouldn`t read that, its common sense and the last 10 years were not clearly. I was trying to tell people the years coming up to the bust and they acted like I was mad, tried to stop people I knew making mistakes but it fell on deaf (now swimming in debt) ears.

AARRRRGH

rightwingdub wrote: »

I'd say the government will abolish the €400 per year rent allowance for tenants in the next budget, also I wouldn't be surprised if the government starts to tax landlords for renting rooms under €10k per year, I'm still paying €400 per month for a duble room in South Co Dublin, got it reduced from €450, I reckon its still about €70 overpriced.

Lenihan is trying to get people to go out and buy property although I wouldn't be surprised if he had a different view privately on the state of the Irish property market.

They'll abolish that relief alright.
They might tax people who are currently renting a room in their house.
They will remove stamp duty altogether for everyone, to be replaced with a property tax.
They will put mortgage interest relief for investors back to 100%.

We've already seen that there is a floor for property prices. In Mullingar anyway

Probably better to knock down all the empty estates though

All to stimulate the property market. Houses start to sell = more jobs. Let the tax go for now. Get people off the dole and paying tax and get rid of the overhang in property.

Thats just my read on what Lenihan will do. Is it right or wrong? I dont know because im not psychic, but my guess its that the above will happen.

And thats just the property end of the economy.
All income tax rates will increase.

Most imortant thing is that most of those outside the PAYE net now will be brought into it.

restaurants

BurnsCarpenter wrote: »

Over on The Property Pin somebody has described it as "Lenihan Declares Victory in War against Affordable Housing".

Who's side is he on.?

danbohan

BurnsCarpenter wrote: »

Phew.

http://www.independent.ie/national-news/lenihan-says-house-prices-now-at-bottom-2124724.html

:rolleyes:

hahaha

restaurants

restaurants wrote: »

Who's side is he on.?

he wants to put a floor under house prices he has stated this
its even on youtube

http://www.youtube.com/watch?v=pWlz1IKWfw4

he is clearly on the bankers side

billybigunz

In five years time, average Irish salaries will be about 23K. A 3 bed semi in a Leinster town will be 70K.

Firetrap

But how can he put a floor under house prices when everything else in the economy is going down? Wages, numbers in employment, immigrants. Will the banks suddenly take to giving people massive multiples of their income as mortgages?

AARRRGH

Firetrap wrote: »

But how can he put a floor under house prices when everything else in the economy is going down? Wages, numbers in employment, immigrants. Will the banks suddenly take to giving people massive multiples of their income as mortgages?

The man is either incompetent or a liar.

testicle

AARRRGH wrote: »

The man is either incompetent or a liar.

Not Mutually Exclusive!

Treehouse72

AARRRGH wrote: »

The man is either incompetent or a liar.

Kevin Myers said something like this on the LLS the other night about people who think there won't be further PS pay cuts. He quickly corrected himself on a wee omission. He said they were..."incompetent or liars...I]pause[/I....or fools".

Organeer

Has anybody looked at house prices in other countries? In the North & in UK house prices are very affordable compared to here. Can houses really cost that much more to build in Ireland, considering all the more reasonable foreign workers we have? Is it just a case of being ripped off yet again?

AARRRGH

Organeer wrote: »

Is it just a case of being ripped off yet again?

Combination of being ripped off and greed/delusion.

Joey the lips

Treehouse72 wrote: »

Kevin Myers said something like this on the LLS the other night about people who think there won't be further PS pay cuts. He quickly corrected himself on a wee omission. He said they were..."incompetent or liars...I]pause[/I....or fools".

tbh i dont like kevin myers but I have to give credit and he was bang on. Matt Cooper was even better though.

AARRRGH wrote: »

Combination of being ripped off and greed/delusion.

I think this is the problem with society. No matter how long we are saying we are on the bottom if the govt say it not many are going to believe it.

There is no trust in the govt.

However... My problem is beyond this. Whilst I have no trust in the govt.. I think we are fooked if we get a labour fine gael combo. They are both like oil and water no matter how much they say it they just dont mix.

Amhran Nua

jimmycrackcorm wrote: »

Understanding the effect of all those zeros to me comes down to two things:
A) How much will my income tax go up by?
I remember it much worse when I paid 48% on a low salary.
How much worse will public services get?
Seeing the massive pouring of money into Health during the celtic tiger years didn't actually improve matters much, it doesn't seem as though cutbacks will make it similarly worse...!

I think this post hits the nail on the head as far as the average citizen is concerned.

All the mad hijinks going on in the Dáil won't fluster most of them until the actual taxes go up; I mean look at this, on top of €100-odd billion for various banking shenanigans, the government has given in to union demands to all intents and purposes making cost reduction much more difficult, and we will not be able to borrow for too much longer at any sort of a favourable rate, because the people responsbile for lending out billions are intelligent enough to see that NAMA debt is in fact sovereign debt.

So where will it come from? The taxpayers of course. Can the taxpayer support this in any way? No, and forget practicality, its just not mathematically possible. But you won't see a major grassroots push back until the taxes start kicking in, and by then Lenihan and company hope they'll be out of office, enjoying a nice ministerial pension.