Irish Times: House prices in Ireland could drop by 80%

baby_boomer

Although individual government bonds are being sold off so that there is a wide variety of rates across the EuroZone, with Italy & Greece obviously higher than most.

The implication is that the EuroZone is not set in concrete and that some countries could choose to leave - or be asked to leave!

chopperharris

Poor ireland , now they have more blight to sing about into the black stuff.

Last one to leave put the lights out.

Now to get them back on the worksites in the uk again , and back into our wards nursing , at least they speak better english than I do.

Looks like poland and ireland will got to war to protect their biggest natural resource....cheap labour.

Im at the craic

epz_2

chopperharris wrote: »

Poor ireland , now they have more blight to sing about into the black stuff.

Last one to leave put the lights out.

Now to get them back on the worksites in the uk again , and back into our wards nursing , at least they speak better english than I do.

Looks like poland and ireland will got to war to protect their biggest natural resource....cheap labour.

Im at the craic

polands labour aint that cheap anymore when you consider how much the pound has slumped, why do you think they are all going home.

chopperharris

epz wrote: »

polands labour aint that cheap anymore when you consider how much the pound has slumped, why do you think they are all going home.

that explains the devaluation in sterling , they all have it as carryon with cheap flights

GracieP

!!!!!!? wrote: »

Hmm, something for the UK to copy from perhaps. I foresee an explosion in bankruptcies in the UK as it is essentially so easy to run up huge debts on living a celeb lifestyle and then get them wiped.....

Tbh, I think something in the middle of the two would be preferable. I do think bankruptcy in the UK is an easy option for a lot of people. We all know of those who've run up huge debts without having assets and gone bankrupt without having to suffer consequences. And ultimately it is everyone else in society who pays for this.

However there are also genuine cases of people who have only borrowed to buy a reasonable family home but have defaulted due to illness/unemployment and 12 years of debt, garnished salary and lost pension seems unduly harsh. A couple who lose their home and incurr debt from negative equity in their late 30's will be in their 50's before they are able to start over. At that point they will never be able to save a deposit and restart a pension. Which seems a harsh for a family who just wanted to own their own home.

harry_w

Conflict wrote: »

Not exactly correct - its meant to be PIIGS including Italy and Ireland. Think it was first coined (or at least first printed) by a FT journalist back in Spring 2008.

And was taken to be offensive, resulting in the paper apologising.

tirano

I think IPIGS sounds better, more in tune with this internet age

dopester

GracieP wrote: »

At that point they will never be able to save a deposit and restart a pension. Which seems a harsh for a family who just wanted to own their own home.

I don't care. I wanted my own home but didn't buy in to a super-bubble.

You can blame TV shows, parents and friends for their expectations on how house prices only go up... but that is because they are idiots.

If education standards improve in this country with the pain of a house price crash - then so be it.

Maybe they can turn off X-Factor, Big Brother, and start reading some books, and get educated in to how markets can work.

I've always been part of the Resistance as far as I'm concerned, but you don't hear much by way of sympathy for those who've been price out and refused to sign up to a massive mortgage or put down years of hard-earned savings - and who've had to rent for years or live with parents... denied the opportunity to buy a property of their own at a reasonable price.

If you were in Germany after the war, I'd image you'd go around feeling sorry for the wider public because they didn't know what was going on - for their dictatorship, invasions and death camps - they weren't really responsible in your eyes I'd imagine - just going with what they thought was a rightful reality of the world. "It wasn't their fault.. they didn't know any better, and society had encouraged it."

An existing paradigm is seldom dispelled by evidence alone. As Keith Thomas has written, "Such systems of belief possess a resilience which makes them virtually immune to external argument."

A people whose culture grossly misinterprets certain facts will not necessarily reason their way to a more encompassing worldview until forced to do so by the brunt of economic necessity or military defeat. Reason does not alter values.

There has to be losers. Cry over them if you wish. Even were easy credit to return, I doubt their children will repeat the mistakes of their parents - and hopefully the crash will see TV chav-shows taken off air, from lack of demand and a society-shift - and more of a return to real educational values.

StevieJ

Happy go lucky Dopester, hey you could have done without that draw, actually I bet Wythenshawe is pretty cheap

dervish

itsallagame wrote: »

Whereas GB used to be a warmonger and, well, suppose that’s how we will stay.
us

:mad:
what a pathetically stupid comment.

If you mean Britain created a benevolent Empire and gave the world deocarcy, law, technology and English language then I might agree.

War is always a last result for us.