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About LinkBacksRemove Investors, It Worked Last Time to Slow Market Down.
Remove Investors, It Worked Last Time to Slow Market Down.
*sigh*
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Rock on, Rockall, you'll never fall
grrrrr
Why not go all the way and turn this country into a socialist paradise better know as hell.
“Common sense is the collection of prejudices acquired by age eighteen” - Albert Einstein
Legally cap the amount lenders can lend at 3 times the combined male and female ave industrial wage for starter homes. Prices would fall because the debt buyers were able to incur had fallen.
That would only really work if supply exceeded demand, wouldn't it?Originally Posted by commentator
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Surely you'd have to apply this to all loans, and not just to those for the purchase of 'starter homes' (unless you've got a clever way of distinguishing these homes from other ones).
Failed liberal traitors:
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I don't have all the details but I know a similar scheme worked in New Zealand. I accept the scheme would need to be watertight and thought through but one happy consequence of effectively limiting price would be to move investment elsewhare into say shares or R and D and cut out unhealthy and overheated dependence on the construction boom for our economic stability.
Let me get this right for our economic stability you want people to take their hard earned cash out of bricks and mortar and put it into the stock market. Don't make me laugh.
Some of us here are what you would probably call nouveau riche. We work for companies that are listed on the stock market or otherwise. We know that if you buy a house you have a commodity that may drop in the near future but has out perfromed everything else for years and will do so again after any correction.
The stock market is a snobs bookie. You buy based on the gospel according to a CX. There are no checks run on these people. They tell lies all the time to talk up their stock and yet the gamblers still buy it. You live and die not on the value of something but on what people think is the value.
If I have a house I know what's coming in and what going out, I dont need to run the risk of corporate fraud.
Laws are like sausages, it is better not to see them being made. Otto von Bismark
One thing we must learn about Irish people is that if there's a law they don't like they will do their damnedest to ignore it or get around it so I really can't see legal limits on lending succeeding.
I think what should be done is that the stock of social housing should be increased dramatically. This would ease pressure at the starter end of the market and allow people a genuine choice: if there's an option people aren't forced to purchase a house they can't afford.
With supply pressure within the building industry we would have to look at getting international contractors in to build this kind of stock.
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