Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Irish property market

Options
124»

Comments

  • Options
    #92
    Piriz
    Registered Users Posts: 1,269 ✭✭✭Piriz


    The Spider wrote: »
    siege mentality

    unbelievable, no offence but your off the point, doom and gloom is based on facts and figures, please refer to my previous post for feedback ...

    /bye


  • Options
    #93
    The Spider
    Registered Users Posts: 1,273 ✭✭✭The Spider


    Piriz wrote: »
    unbelievable, no offence but your off the point, doom and gloom is based on facts and figures, please refer to my previous post for feedback ...

    /bye

    Really? look at where I used it in context, I said the person who can afford to spend feels like they're under siege! So doesn't spend! :rolleyes:

    Honestly I'm alright I have cash, so do the vast majority of people I know, and on a personal level doom and gloom from me isn't based on facts and figures, it's based on hearing about job losses and passing businesses that are boarded up, that's what makes people save rather than spend.

    The average person DOES NOT sit down and analyse figures from the central bank or the CSO, they look at what's going on around them.


  • Options
    #94
    Piriz
    Registered Users Posts: 1,269 ✭✭✭Piriz


    The Spider wrote: »
    on a personal level doom and gloom from me isn't based on facts and figures, it's based on hearing about job losses and passing businesses that are boarded up, that's what makes people save rather than spend.

    The average person DOES NOT sit down and analyse figures from the central bank or the CSO, they look at what's going on around them.

    business closed = fact
    job losses = figures

    see you do know what facts and figures are... well done


  • Options
    #95
    The Spider
    Registered Users Posts: 1,273 ✭✭✭The Spider


    Piriz wrote: »
    business closed = fact
    job losses = figures

    see you do know what facts and figures are... well done

    What's your problem? seriously, every time someone has a different view on this board, the bears turn into petulant schoolkids, instead of looking at the overall point, you pick out one line of text that you can argue with.

    Unreal!


  • Options
    #96
    Piriz
    Registered Users Posts: 1,269 ✭✭✭Piriz


    The Spider wrote: »
    What's your problem? seriously, every time someone has a different view on this board, the bears turn into petulant schoolkids, instead of looking at the overall point, you pick out one line of text that you can argue with.

    Unreal!

    look, no offence but i consider your economic stand point on the issue(s) weak, you talk about sentiment and doom and gloom in a very basic light and fail to align this with economic indicators, micro and macro forces... we'll agree to disagree...


  • Advertisement
  • Options
    #97
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    Piriz wrote: »
    unbelievable, no offence but your off the point, doom and gloom is based on facts and figures, please refer to my previous post for feedback ...

    /bye
    Artfully done. You reeled him in making him think he had somebody agreeing with him and then spat him back out.
    The Spider wrote: »
    The average person DOES NOT sit down and analyse figures from the central bank or the CSO, they look at what's going on around them.

    No they don't. They look at their own bank account balance.


  • Options
    #98
    The Spider
    Registered Users Posts: 1,273 ✭✭✭The Spider


    gaius c wrote: »
    Artfully done. You reeled him in making him think he had somebody agreeing with him and then spat him back out.


    No they don't. They look at their own bank account balance.

    Ok Gaius can you point to anywhere in the point I put across where I'm wrong?

    I'm not an economist, but I did say there would be debt writeoffs PTSB came out and said they were going to implement them, I also said it wouldn't make sense to repossess a house when you've written off a portion of the debt, because of the costs incurred when trying to sell that house at the new value.

    Not looking to get involved in your childish antics, because at the end of the day what you say or I say doesn't matter jack, I'm still very dubious on your whole stance in relation to anything property or economy related, you seem to point out where it's all fecked, and act the kid with anyone who disagrees, you have but zero solutions, therefore are not worth listening to.


  • Options
    #99
    vinylbomb
    Registered Users Posts: 605 ✭✭✭vinylbomb


    The Spider wrote: »
    Doubt people will lose their homes it costs as much to repossess and sell it on as it does to write off a portion of the debt.

    mortgage on a house is say 300'000 now worth 180'000 reduce the mortgage to 180'000, if the bank wrote off the debt repossessed the house then they would incur the costs of trying to sell that house for 180'000
    and the debt would be written off anyway, what's to be gained by the bank reposessing?

    And if house prices fall, then the bank has lost more money than if they just wrote off the 120 grand.

    This post shows that you have relatively little understanding of how a bank functions.

    Remember - its all about the asset value on the banks balance sheet

    If a loan isnt preforming the bank can either
    a) Keep pretending its performing.
    b) Repossess the loan and recover the anything possible in order to cleanse their balance sheet.

    In the case of a) - That's kind of like the Book to Value accounting tricks that got us into this housing mess at the moment, except in reverse. The regulator isnt having that sort of sh1te any more. And if retaining the loan the bank will an asset on its balance sheet with an unclear valuation, the absolute last thing they ever want.


  • Options
    #100
    vinylbomb
    Registered Users Posts: 605 ✭✭✭vinylbomb


    The Spider wrote: »
    When the economy is functioning an unemployed person can get a job, that's the point, people don't spend when things look unstable, even the ones that can afford to, they save. The more they save the less is going into the economy, instead the person who can afford to eat out in a restaurant doesn't do it, saves their money just in case with all the doom talk they think they could be next, even if they won't be.

    That has a knock on effect on the restaurant that now has to let staff go, and in the worse circumstances close, that then enforces in the people who could afford it, that they should save even more...just in case.

    Someone has a bakery that normally a person who could afford it would go to, however the siege mentality now means they go to aldi for everything, which is cheaper, but at a cost to a small business.

    The government isn't getting the taxes from these businesses that close down, and now has to pay more social welfare to the ex employees so taxes start to go up, and yet again the people who could afford to spend in these businesses save their money.

    So you see where sentiment affects the entire economy? If everything is doom and gloom the people who have money will not spend it and will hoard it away just in case they're the next ones on the chopping block.


    So hang on. What you're saying is positive vibes create jobs?

    Hallelujah!!!!
    We've saved!!!!


    Now if we weren't so bloody black humoured we'd be richer than the Arabs.


  • Options
    #101
    lima
    Registered Users Posts: 1,239 ✭✭✭lima


    The Spider wrote: »
    Doubt people will lose their homes it costs as much to repossess and sell it on as it does to write off a portion of the debt.

    mortgage on a house is say 300'000 now worth 180'000 reduce the mortgage to 180'000, if the bank wrote off the debt repossessed the house then they would incur the costs of trying to sell that house for 180'000
    and the debt would be written off anyway, what's to be gained by the bank reposessing?

    And if house prices fall, then the bank has lost more money than if they just wrote off the 120 grand.

    What about the 'hopeless' people who lost both jobs and cant even pay back one cent per month? Surely the bank would want to take the asset rather than nothing at all. These people will get their properties repossessed.


  • Advertisement
  • Options
    #102
    The Spider
    Registered Users Posts: 1,273 ✭✭✭The Spider


    vinylbomb wrote: »
    So hang on. What you're saying is positive vibes create jobs?

    Hallelujah!!!!
    We've saved!!!!


    Now if we weren't so bloody black humoured we'd be richer than the Arabs.

    Absolutely think you can achieve nothing, then nothing you shall achieve.


  • Options
    #103
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    The Spider wrote: »
    Ok Gaius can you point to anywhere in the point I put across where I'm wrong?

    Not enough hours in the day to shoot down your repetitive nonsense but do keep pretending that you're getting a writedown on that apartment of yours.


  • Options
    #104
    The Spider
    Registered Users Posts: 1,273 ✭✭✭The Spider


    gaius c wrote: »
    Not enough hours in the day to shoot down your repetitive nonsense but do keep pretending that you're getting a writedown on that apartment of yours.

    Ah Gaius did you not read the bit where I said you weren't worth listening to?
    Same ol' rubbish you repeat here and on the pin, and not a solution in sight from ya.

    Good luck living in the shared house, bedsit, or whatever, how many years has it been now?


  • Options
    #105
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    The Spider wrote: »
    Ah Gaius did you not read the bit where I said you weren't worth listening to?
    Same ol' rubbish you repeat here and on the pin, and not a solution in sight from ya.

    Good luck living in the shared house, bedsit, or whatever, how many years has it been now?

    Solution is quite simple.
    Pay your debts or lose the asset the debt is secured against.


Advertisement