Irish House Price Crash - 13 times salary mortgages

Wookster

Rochdale_Pioneers wrote: »

Labour always break the economy and Tories always have to fix it.

You don't know how right you are there.

Rochdale_Pioneers

Wookster wrote: »

You don't know how right you are there.

You managed to miss the dripping irony in my post then?

IveSeenTheLight

mambury wrote: »

well, the poles have started going home, and I don;t think us immigrant irish will be coming here in droves either as it is not a locallised economic problem anymore. I think a lot of people will be rethinking how they live their lives.

Are they really?
I would like to see some stats on this.
On a recent return to the UK I was astounded to see more than ever.
I started speaking to one couple who moved to the UK just prior to Christmas

It may be happening, but it would be good to see some figures backing it up rather than just hearsay

Running_Horse

Hadrian wrote: »

Those of us who are old enough to remember what was entailed financially in buying a house years ago will have little or no sympathy with today's 'I want it now' mentality as regards credit, and mortgages. Also I understand they won't allow themselves to appreciate that before the 70's building societies as they were then, only granted, note the word 'granted' mortgages from monies given by investors and then only to credit-worthy applicants. Once BS's de-mutualised under Maggy, and became profit making banks they borrowed money from wherever to give mortgages. The 'free for all' ended in the ludicrous situation of 125% mortgages and god knows what multiples of salary or wages. Some people bought houses way beyond their means if their money situation were to collapse. Pre the 70's we never mortgaged 'up to the hilt', repossessions were virtually unheard of, now it's commonplace. The only way normality is going to returned to is for a minimum deposit, say 15/20%, to be put down on application, and their financial state to be inquired into. Eventually the housing market will return to those who can afford a mortgage which was well within their means. I genuinely feel sorry for those who are subject to repossession, but this mad, headlong rush for 'other peoples money', ie credit, had to end in tears. The government, as well, should bear some responsibility in not seeing this a'coming

That's all very interesting, but even Maggy can't be blamed for the Irish economy.

chucky

Rochdale_Pioneers wrote: »

You managed to miss the dripping irony in my post then?

:rotfl::rotfl::rotfl:

ad9898_3

Rochdale_Pioneers wrote: »

You managed to miss the dripping irony in my post then?

How can it be ironic ?, it's exactly what happens.

agent_orange_2

Irony to me, was when my mum called me a son of a b1tch