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Thread: Shock Horror: NAMA won't recoup full amount owed for land loans - Independent

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    Default Shock Horror: NAMA won't recoup full amount owed for land loans - Independent

    Who'd have thunk it..Demand and Supply actually exists. Maybe Lenihan should have asked a Leaving cert economics student what happens to price when there is excess supply


    THE National Asset Management Agency (NAMA) is unlikely to ever get back the full amount it is owed for land loans bought from the country's banks, Credit Suisse warned yesterday.

    "There is simply too much development and too much unoccupied property for even more new property to generate yields," said Credit Suisse analyst Niall O'Connor in a note to clients yesterday.
    Finance Minister Brian Lenihan told the public last December that NAMA would make a profit for the State over the next 10 years as it sold land for more than it originally paid. The organisation has not yet sold any land and is still valuing land as it buys smaller loans from lenders.

    Officials have already conceded that some land NAMA has bought is virtually worthless and the agency may have to bulldoze some half-finished buildings so development land can be used by farmers to graze cattle.
    NAMA won't recoup full amount owed for land loans - Irish, Business - Independent.ie

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    Politics.ie Member An Gilladaker's Avatar
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    Quote Originally Posted by DCon View Post
    Who'd have thunk it..Demand and Supply actually exists. Maybe Lenihan should have asked a Leaving cert economics student what happens to price when there is excess supply






    NAMA won't recoup full amount owed for land loans - Irish, Business - Independent.ie
    They don't do FF economics in the Leaving cert

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    Politics.ie Member cozzy121's Avatar
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    Quote Originally Posted by An Gilladaker View Post
    They don't do FF economics in the Leaving cert
    Of course they do, with the "qualified" accountant - bertie - giving the classes.
    "WAKE UP! THE RICH ARE RAPING YOU!"

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    Politics.ie Member Eurocitizen's Avatar
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    Why has there not being a thread on this topic before? it is great to see all the intelligent poster together on one thread.

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    Politics.ie Member greengoose2's Avatar
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    Quote Originally Posted by Eurocitizen View Post
    Why has there not being a thread on this topic before? it is great to see all the intelligent poster together on one thread.
    Your august and intelligent self included!

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    Politics.ie Member Eurocitizen's Avatar
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    Quote Originally Posted by greengoose2 View Post
    Your august and intelligent self included!

    Nope I am far from intelligent. I am a P.ie poster.

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    NAMA wants to release the houses unto the market bit by bit. So straight away NAMA is distorting the market. Also houses are depreciating assets, it will cost us more money in security and repair costs.
    ''The tattoo has a profound meaning: the superficiality of modern man’s existence.'' - Theodore Dalrymple

    "Any fool can make something complicated. It takes a genius to make it simple." - Woody Guthrie

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    Quote Originally Posted by Eurocitizen View Post
    Why has there not being a thread on this topic before? it is great to see all the intelligent poster together on one thread.
    Its crap weather in the midst of the summer holiday season. NAMA bashing and AIB teasing works a treat!
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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    Politics.ie Member Eurocitizen's Avatar
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    Quote Originally Posted by Cassandra Syndrome View Post
    Its crap weather in the midst of the summer holiday season. NAMA bashing and AIB teasing works a treat!

    I thought there was a full moon

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    Politics.ie Member Timshel's Avatar
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    Default Spin Scamover then ?

    After a few Irish winters, even the finished ones will be in some state.

    http://airminded.org/wp-content/img/...use-darwin.jpg

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