If Fianna Fail were not so busy, in the recent past, exchanging prime city centre development sites (in public ownership), for an allocation of unaffordable one/two bedroomed "dogboxes" in suburbia, would the long awaited "re-adjustment" in the property market have come sooner.?
By giving away the "Family Silver" to grasping developers, have they delayed the inevitable?
can one imagine the dilemma that may soon face those unfortunates who have bought one of the small number(thankfully) of so called "affordable houses" that have recently come availible in county Dublin.?
These young people will perhaps have to sell at a loss in the coming years and still pay back to the county council co-owners, the full portion of the original cost of their (councils investment) half share instead of half of the anticipated profit as was envisaged when everybody thought the market would never stop rising !If Fianna Fail had provided the affordable housing units 5 years ago instead of shamefully capitulating to the builder lobby at least the owners would be in positive equity territory. Now a stream of pre election "affordable "homes has hastily appeared just when they are least needed- in time to catch the fall in the property market.
Those who bought into the so called affordable home scheme in the past two years will be the main victims of the long heralded readjustment (or crash)
id advise people to get very angry if this happens . Get angry about the multi billion euro give away of our oil and gas resources too . wreck the place if youve nothing to lose . Burn down the banks and the moneylenders and say jesus inspired you . Take to the streets with torches and pitch forks and go in hunt of journalists , politicians , property developers and all the other assorted scum and dregs of society who got you into this mess and sold you into indentured servitude for the rest of your life in a con where they got rich and you got shafted.
My own daughter narrowly avoided being stung in this situation a few weeks ago when she was offered a so called "affordable" one bedroom dogbox in Clonee for massive money. Fortunately she did no contract into it. She is hoping to buy the same property next year for 50,000 euros less-and without the huge problems and restrictions attached to co ownership by the county council.
She said that she saw the light when coming home recently in a taxi, and the driver was boasting about his new holiday home in Bulgaria !
You remember the famous story about the investor who decided it was time to get out of the market in 1929 when his shoeshine boy began advising him about shares..
She claims to having had a "shoeshine moment" 8)
I wonder what happens now that the developers have all the prime city centre sites- and the county councils "affordable" homes may well be left empty ' despite the government having contracted for them at what is now clearly well over the odds
The Ballybritt Brigade are sitting pretty anyhow!
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