Originally Posted by sic transit

It's not all bean counting and free market guff. Socially this has merit and it's what a civilised society does. TBH it doesn't look like you've really thought through the consequences beyond suggesting that they should be kicked out.

What ************************e. If Ballsy Canny Mc Savvy & family bought a mansion in Foxrock or on Howth Island and can no longer afford the mortgage then society should step in the plug the gap and allow them to stay because you think it is the civilised thing to do.

Paddy & Patricia & family who were sensible and rented during the boom lose their jobs and can no longer afford their place they can burn in hell for all society cares.


You horrible hypocrite

Originally Posted by hedzog

funny how 60% of Germans (you know those funny little people keeping our atms working ) manage to rent and call it home , patrick has a whole lot of learning to do , and one of those things is that property ownership is not always logical or indeed necessary, you would have thought that after 4 years of ruin he might be cottoning on to that , but it appears not

Did you even read my post?

I asked where is says people get to keep their homes. It is clear that they don't get to keep their homes.

Implicit in what I said was that they would be better off renting elsewhere then in the home they are currently living in.

You would have thought that after 3,855 posts you would have been cottoning on to the fact that it's usually a good idead to read what people say.

Originally Posted by blindjustice

Renters get kicked out on their ear if they dont pay why shouldnt these people

exactly , which is why the property market in this country is still totally imbalanced , i went to a few allsorp viewings recently for the auction on july 7 and they were crowded , people will buy at the right price , people still have money , but the banks , government are stalling it , this is just another example of it

Originally Posted by sic transit

There's always council housing as an option. Home is a state of mind IMO and many Europeans happily rent for life. We're just hung up on ownership.

I never suggested otherwise. I asked where it said these people get to keep their homes.

Originally Posted by feargach

There is the slight glitch of the banks which enjoy a total state guarantee. My understanding is that if there is a fire sale, they will be in danger of collapse, and peoples' deposits will be wiped out. I hope I've got that wrong, because I want a fire sale.

The banks were recapitalised to prop them up. In the event of them lacking the money to keep going we can:
Let them fail
Recapitalise them
or plug the gap via sectarian schemes like this

Originally Posted by blindjustice

Don`t pay your mortgage and the government gave you two years protection from eviction. That is two years rent free. Renters cant do that. The government interfered in the market to favour a select portion of the population.

Now this - you get to keep the house. We all should have bought mansions. There was no risk

The simplest thing to do would be to make all mortgages non-recourse. This would mean people would be able to have either write downs or walk aways.

Another option would be a blanket write down of 30% (say) on mortgages,

Instead the Government are using the economics of housing to prop up the zombie banks.

Originally Posted by ShoutingIsLeadership

Did you even read my post?

I asked where is says people get to keep their homes. It is clear that they don't get to keep their homes.

Implicit in what I said was that they would be better off renting elsewhere then in the home they are currently living in.

You would have thought that after 3,855 posts you would have been cottoning on to the fact that it's usually a good idead to read what people say.

why would they be better off renting elsewhere ? .

Originally Posted by blindjustice

What ************************e. If Ballsy Canny Mc Savvy & family bought a mansion in Foxrock or on Howth Island and can no longer afford the mortgage then society should step in the plug the gap and allow them to stay because you think it is the civilised thing to do.

Paddy & Patricia & family who were sensible and rented during the boom lose their jobs and can no longer afford their place they can burn in hell for all society cares.


You horrible hypocrite

The article says the following:

The scheme will be aimed at those who have no realistic possibility of being able to make full repayments on their mortgages.

A housing association will buy the homes from people unable to afford their mortgage and the occupants will be able to remain as tenants, paying an affordable rent.

Please point out where society will step in and plug the gap, as you have put it.

Originally Posted by blindjustice

What ************************e. If Ballsy Canny Mc Savvy & family bought a mansion in Foxrock or on Howth Island and can no longer afford the mortgage then society should step in the plug the gap and allow them to stay because you think it is the civilised thing to do.

Paddy & Patricia & family who were sensible and rented during the boom lose their jobs and can no longer afford their place they can burn in hell for all society cares.


You horrible hypocrite

Now deep breath, step way from the keyboard, and read the silly nonsense you've just written. Given that you have no idea who any of these people are you might be better to avoid making up cringeworthy McWilliamsesque sobriquets. But I bet it is good to get it all out.

Originally Posted by sic transit

3,500 families out on the street or on a housing list is good? I agree on Govt interference but desperate times need desperate measures.

But the houses they are in now won't just disappear. If there is 3,500 households evicted then there will be 3,500 extra houses available to rent.

Originally Posted by feargach

There is the slight glitch of the banks which enjoy a total state guarantee. My understanding is that if there is a fire sale, they will be in danger of collapse, and peoples' deposits will be wiped out. I hope I've got that wrong, because I want a fire sale.

They'd almost certainly collapse, its a mess either way isn't it?