A young man of my acquaintance is currently selling his home, a three bedroom semi detached house located 4 miles outside the M 50 perimiter in West Dublin.He placed a deposit on a luxury flat closer to the city 2 years ago,the fixed price of which was then 400,000 Euros. At the time of signing the contract his current home was fetching 280,000 Euros. At the end of last year it was selling for 320,000 Euros.
Today the price has reached 385,000 euros and rising. (This puts the house into the 6 percent stamp duty category for first time buyers.They are now competing once again on level terms with the speculators who,according to statistical data, buy 4 in every 10 new homes/apartments built in Dublin.So much for favouring home buyers and disadvantaging speculators.
.No house is sold today at an asking price.Everything is "offers over such and such a figure" There are no more house auctions today,because every house sale is in reality a dutch auction.
I understand the couples who are vying against each other for my sons house are borrowed up to the hilt and have of course already received their inheritance -as is the norm these days- from their parents.There is a saying in business,"you have to leave a bit of meat on the bone for the next man". Not so in the property market.It's a jungle out there.Both buyers who are competing for this property have already been "Gazumpted" ie. are disappointed losers from a previous dutch auction.
The banks of course have long discarded their prudent income related guidelines,as they happily dance to the tune of the upward price spiral.Today Mr Aherne and Mr Cowan have politely asked the unions not to jeopardise their members livelihoods by demanding rises which pursue the inflationary spiral that their policies have created.
:twisted: The scandalous corruption, incompetence, and lack of foresight of this government, which has affected the availibility of serviced building land in Dublin, goes unmentioned.. Fianna Fail's generousity to a privileged portion of the work force (of which they themselves are a part) has also affected the price of property as it belatedly comes on stream,but never matching the actual demand.That a small coterie of builders already control and own much of the availible land in the Dublin region is also a factor in the whole debacle.
One needs no expertise in economic theory to understand that so called "benchmarking"-i.e. paying almost 40 percent of the nations securely employed workforce,the fortunate state and semi state employees, wages above and beyond the norm in the private sector is one facet of a financial and economic time bomb.These people have guaranteed pensions, which would cost a private sector worker an incredible 40% of his salary in annual contributions, for a similiar gold plated, index- linked private pension, long after civil servants retire their pension will increase to match every pay rise awarded to working civil servants in future years.
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Mr David Went chairman of the Irish Life and Permanent Building Society calculates that the last round of benchmarking will cost the taxpayer 20 billion Euros,and not the 1 billion Euro figure calculated on the back of a cigarette packet by Fianna Fail,s spin doctors.
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There is an office building on the North Circular Road where 40 redundant local government employees,clock in every day,and will continue to do so, until they reach pensionable age because it would cost too much to buy them out of their secure jobs.
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: Hypocrisy is an art form in Fianna Fail.The americans tell a joke."How do you know when a lawyer is lying"? answer; "When his lips move"!
" How do you know when Fianna Fail ministers are lying.?"
: :idea: Question is, will the the young generation who are queing up for houses -at any price-and who rarely bother to vote in general ections- will they be out in force come polling day next June,to make a difference.? :idea: :twisted:
http://www.soldiersofdestiny.org/awayforwardvote.htm



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