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New figures: Property price slide continues

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    #32
    roro2
    Registered Users Posts: 412 ✭✭roro2


    Poor Standard of Mahd wrote: »
    I'm pretty sure it's 120k in arrears: I don't know how else to interpret this:


    Agreed.

    Updated for Q3 (just owner-occupied, not BTL):

    135,628 in arrears of some duration.

    Of which:
    68,227 in arrears of up to 180 days
    67,401 in arrears of greater than 180 days
    19,541 in arrears of greater than 720 days.

    All these numbers include accounts that have been restructured but are also in arrears (not all are back in arrears again - some never got lifted out of arrears). A further 43,742 are restructured but not in arrears - therefore not included in the numbers above.

    There is no info on the size of the arrears - other than an average of €12,135 per account in arrears. So if an account is €1 in arrears from a year ago, it still gets counted. As is a case where there has been no payments for a year.

    http://www.centralbank.ie/polstats/stats/mortgagearrears/Pages/Data.aspx


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    #33
    Victor
    Registered Users Posts: 78,404 ✭✭✭✭Victor


    geraldishere wrote: »
    none of yous have a clue thats why you'll all be broke bitches for the rest of your pathetic lives....
    I see you've been banned.

    Moderator


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    #34
    Victor
    Registered Users Posts: 78,404 ✭✭✭✭Victor


    geraldishere wrote: »
    are you serious there is well more than 6 3-bed semis for sale in Dublin ya gob****e

    http://www.myhome.ie/residential/dublin/semi-detached-house-for-sale?minbeds=3
    Abuse not welcome

    Moderator


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    #35
    lima
    Registered Users Posts: 1,239 ✭✭✭lima


    geraldishere wrote: »
    :DCant wait till they bottom out..

    have 140k just sitting there licking its lips waiting for it to happen :D

    waiting meself too!


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    #36
    lima
    Registered Users Posts: 1,239 ✭✭✭lima


    Poor Standard of Mahd wrote: »
    There's f*** all supply because there is about 80,000 properties out there where the mortgage is not being paid but they are not being repossessed. And there's no appetite for dealing with the issue either - you're worse than Hitler if you suggest that people who don't pay their mortgage should be required to surrender the house. You don't keep your rented home if you don't pay the rent, do you?

    Irish people like house prices to be high. On average, we are quite, quite stupid when it comes to property.

    I sit and hope for a move on repos, waiting for those people to get kicked out of the houses so that the market reaches it true value - and there are a lot of us out there :D


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    #37
    Poor Standard of Mahd
    Site Banned Posts: 20 ✭Poor Standard of Mahd


    lima wrote: »
    I sit and hope for a move on repos, waiting for those people to get kicked out of the houses so that the market reaches it true value - and there are a lot of us out there :D
    The fact that there is a lot of you out there rather mitigates against your desire for cheaper property, don't you think?

    Were you annoyed by those unbearable gloating property owners during the bubble who told you how much money they had 'made' with their property?


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    #38
    anncoates
    Closed Accounts Posts: 13,925 ✭✭✭✭anncoates


    lima wrote: »

    I sit and hope for a move on repos, waiting for those people to get kicked out of the houses

    Charming.


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    #39
    Villa05
    Registered Users Posts: 4,613 ✭✭✭Villa05


    D3PO wrote: »
    this is the misnomer people have. There ARE NOT 80,000 properties out there where the mortgage is not being paid. There isnt a figure even close to that.

    The classification of mortgage arrears considers all mortgages that have been restructured, so those paying interest only, those who extended their term but are still paying interest and capital on these longer terms and those that are paying interest and some capital are all bundled into this figure.

    as for the you dont keep your rental if you dont pay, actually you do. The process of eviction for a landlord is long and laborious. A tenant or a non paying mortgage holder can both stay for significant lengths of time whilst in default.

    As of Quarter 3 2012, there were 67,401 owner Occupied mortgages in arrears of 6 months or more. This is the point at where repossessions occur in every other sane economy.
    The full breakdown is as follows:
    Residential
    In arrears 181 to 360 days: 23,035
    In arrears 361 to 720 days: 24,825
    In arrears over 720 days: 19,541
    Total 67,401

    Buy to Let
    In arrears 181 to 360 days 6,976
    In arrears 361 to 720 days 8,224
    In arrears over 720 days 6,628
    Total 14, 852

    http://www.centralbank.ie/polstats/stats/mortgagearrears/Pages/releases.aspx
    http://www.irisheconomy.ie/index.php/2012/12/13/mortgage-arrears-statistics/

    Note: Performing Restructured mortgages (interest only. extend and pretend) are not included as by definition they are not in arrears with the new terms of the mortgage


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