It’s such a bitter taste of defeat as I stare out my window each morning

GeneHunt_2

I'm not sure how much her property is now worth - is she underwater by £300K? or less?

I might be tempted to walk.....

amcluesent

Whatever happened to the luck o' the Oirish?

ash28

The 21 flats, sorry apartments, are being offered for sale by Dublin Docklands Development Authority (DDDA) and are part of their affordable housing quota. 20% of the developments (not just this one) are earmarked for social and affordable housing. There is list of developments that offer affordable housing.

http://www.ddda.ie/AffordableHousing

To buy one you are supposed to be on Dublin City Council's affordable housing waiting list. But if you meet the income criteria you can put yourself on the waiting list for €50, the purchaser must be a first time buyer, and an owner occupier, earning below €58,000 for a sole purchaser, and €75,000 for joint purchasers.

Not quite the picture the author paints - not everyone can buy them. One big difference in a lot of the affordable housing being offered for sale now is that the claw back of money if you sold no longer applies.

Apparently they aren't suitable for families so are aimed at singles and couples.

http://www.irishtimes.com/newspaper/property/2010/1007/1224280562396.html

You can get a 90% mortgage through the Ulster Bank and others.

You can a mortgage through the council if:

The deposit for an apartment is €3,000, and buyers have to give evidence of sufficient savings to fund the balance of the purchase price not being funded under their loan. They can apply to Dublin City Council for a loan to finance the purchase, but have to first demonstrate that they’ve been refused a loan by two banks.

And it did happen here does anyone remember this?

http://www.thisislondon.co.uk/standard/article-23740955-young-homebuyers-face-legal-action-and-bankruptcy-after-off-plan-flats-plunge-in-value.do

And there were plenty more.

I think Manchester luxury apartments suffered a similar fate - prices dropped through the floor.

MRSTITTLEMOUSE

I think this young woman is just plain stupid to be honest and I have no sympathy whatsoever for her.
This is what happens when you buy at peak times and she was happy to pay the price so she should'nt complain.
These apartment type buildings are dropping like stones anyway,all over the place.
That's if you can sell them in the first place.We have some round here that were built at the start of the crash and not one has sold despite them going to auction.

Aberdeenangarse

I think this is the definition of 'dumb blonde'

baby_boomer

It reminds me of the attitude of former Liverpool owners Hick & Gillett.

What gives anyone with pots of money the right to a one way, secure investment?

Our journalist is young enough and rich enough already to learn from her experience.

I was stupid enough to lose half my assets in the 1987 stock market crash, but it taught me important lessons which have helped me since.

mbga9pgf

!!!!!! the bed! She could have afforded a mansion in Gloucestershire like mine for only 400K Euros!

If only if she had rented, saved the cash and waited for the crash....


Like all the sensible FTBs did!

ash28

You can always flat share with her if you have a spare €700 a month

http://www.daft.ie/searchsharing.daft?id=602374&search=1

Check out the size of the living room!

Her grandfather is Leo Ward of Ward Anderson the owners of the largest cinema chain in Ireland.

They own Omniplex, Cineplex, and IMC

http://en.wikipedia.org/wiki/Ward_Anderson

The family aren't exactly short of a bob or three.

macaque_2

"I wish I had listened to the 70% club" declares property chump.

I got caught up in the crazy mania of feeling I must have an apartment.........
.........Today the other apartments in my building are filled to the brim with wise renters.

The 70% club says: Cheer up Alison, your flat has not suddenly developed subsidence or dry rot, just a taste of price reality. Homes are for living in. Just enjoy the view ... er whoops, I mean the "Sleek Scandinavian furniture"

Sibley

Check out the size of the living room!

Her grandfather is Leo Ward of Ward Anderson the owners of the largest cinema chain in Ireland.

They own Omniplex, Cineplex, and IMC

http://en.wikipedia.org/wiki/Ward_Anderson

The family aren't exactly short of a bob or three.

I rest my case. The family have probably seen her cry for help and baled her out by now.

I already decided that everything I'm reading in either newspapers or internet forums regarding house prices,drops or gains is a load of tosh.

Believe your own eyes. Is your dream house currently for sale at a large discounted price?

I think you know the answer to that.