The Housing Market |
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9fingers
Paul McGrath Ballymun Resident #MONKEANO Joined: 30 Jan 2010 Status: Offline Points: 16144 |
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Vulture fund bought the house directly opposite me, the couple selling haven’t even left yet but it’s now up on Daft to rent for €3200 as a 4bed, it’s a 3 bed.
Market & country is f**ked.
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Newryrep
Paul McGrath Just can't get enough of lists Joined: 14 Jan 2009 Status: Offline Points: 15257 |
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3200 a month ? - who is their target market ? Al Pacino in scarface
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'Irish' Songs for an Irish team - no SPL EPL generic sh*te
Richard Dunne - 6th Sept 11 - best marshalling of a defence in Moscow since General Zukov Russia V Germany 1941 |
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seanyshuffler
Jack Charlton PM snitch Joined: 09 Jun 2011 Location: Ireland Status: Offline Points: 9538 |
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I'd say get on to your local TD 9fingers or your local TD that might care.
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9fingers
Paul McGrath Ballymun Resident #MONKEANO Joined: 30 Jan 2010 Status: Offline Points: 16144 |
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Yep. 38,500 per annum for a 60ish yr old 3bed semi D in north Dublin. Absolute madness.
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Artie Ziff
Ray Houghton Joined: 10 Oct 2007 Status: Offline Points: 3619 |
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Do vulture funds buy up single properties now? Thought it was a bulk of apartments or houses?
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It would damage this forums' reputation
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Trap junior
Robbie Keane YBIG Minister of Doom & Gloom Joined: 25 Jan 2010 Location: Irish Riviera Status: Offline Points: 39834 |
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Its facking madness Squire. Now fack off you Oirish kants
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Pied Piper to: Baldrick, Brendan 88, 9Fingers, Borussia and more...
97.6% chance this post will be replied to by Baldrick (source: PWC) |
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The Huntacha
Roy Keane Joined: 27 Mar 2012 Location: Dubai Status: Offline Points: 12781 |
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It's a very good account, and fair play to him, he's kept it going even after getting his own house. He does some great exposing of the shady work of estate agents too; advertising properties as being in incorrect postcodes to drive up prices, etc.
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Jimmy Bullard - "Favorite band? Elastic."
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9fingers
Paul McGrath Ballymun Resident #MONKEANO Joined: 30 Jan 2010 Status: Offline Points: 16144 |
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Yeah, they’re buying secondhand houses all over Dublin.
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ShamtheRam
Paul McGrath Joined: 05 Apr 2009 Location: Ireland Status: Offline Points: 18144 |
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I'm trying to buy a house at the moment and I look through what's available most days and see these houses that have been put up by the banks for cheap because clearly they've defaulted on the mortgage or something. There's always minimal pictures of the property because clearly the people living there won't let them in to take pictures. At the end of the description of the property there's always a short line saying "property currently occupied by family. Recommended rent €xxx per month or an ideal starter home" I want my own place but not at the expense of kicking a family out on the street. This country is so messed up.
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YBIG NPF founder and CEO
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sausy
Jack Charlton MAYO FOR SAM Joined: 13 Jan 2009 Location: The local Status: Offline Points: 6980 |
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How do you know it's a bank selling it, does it specifically say repossessed or receiver sale? I don't thing anyone can sell a property without having possession of it so would reckon your example above is a landlord selling with tenants in situ. Plenty of tenants not happy when the landlord decides to sell so can either obstruct photos been taken etc. I even remember my sister at an open viewing before and the existing tenants either refused to get out of bed sat on the couch in their boxers watching tv to disrupt the sale as much as possible. If you have finance on a car and miss a few payments you expect a call saying to pay up or give it back. Why not the same with a mortgage? People aren't getting evicted for going into default after 3 months. Takes years for a Bank to reposes and I don't think it's the norm for people who engage with their Bank to lose their home. Plenty of options there to help them.
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Bimbos Burgers - "Official Sponsor of the Irish Squad"
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Claret Murph
Paul McGrath Hmmm, Goodness, I must say Joined: 16 Apr 2009 Location: Tibet Status: Offline Points: 15748 |
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Young lad at work from Croatia is looking for somewhere to live in Galway City as he has to leave where he is living . Now said he would be happy to pay €1000 a month for a shared place but can't find anywhere , he said one 4 bedroom house in the West of the city was going for €3600 a month . He said if he runs out of time he may stay in a hostel or just pack up and go home to Croatia .
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Lansdowne Road debut aged 52 and 201 days .
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Shedite
Jack Charlton Joined: 09 Dec 2011 Status: Offline Points: 9820 |
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The tax breaks for overseas property investors is the biggest f**kup of the market, could be changed in an instant by the government, and would lessen the impact of these companies in an instant
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ShamtheRam
Paul McGrath Joined: 05 Apr 2009 Location: Ireland Status: Offline Points: 18144 |
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They pass it off to a debt collection agency and they sell it on their behalf It normally will say it on the description that the property is being sold by xyz agency. Same as the NAMA properties that are available around the place too. Sell it off cheap, looking to get some return back.
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YBIG NPF founder and CEO
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Artie Ziff
Ray Houghton Joined: 10 Oct 2007 Status: Offline Points: 3619 |
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It would damage this forums' reputation
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tapfit2004
Kevin Kilbane Joined: 15 Apr 2012 Location: section 116 Status: Offline Points: 455 |
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Edmund Honohan who is/was master of the high court since 2001 got an invitation from the Brehon Law Society of New York to address them on a letter he addressed to the TD's in the Dáil on the 24th of October. He has a lot to say about how the vulture funds have been operating in Ireland over the last decade and how the Irish government and courts have facilitated their actions which may not always have complied with Irish and EU law.
A couple of weeks after his letter was released Start Mortgages (Lonestar Funds) announced that they were pulling out of Ireland and selling their loan portfolio to Mars Capital. A few different websites have picked up on it including Marketwatch and Irish Central. What he has said could have huge implications for the vultures and a lot of people could be in a position to sue them for the way they were treated and possibly sue the state as well if the courts were complicit in actions that didn't comply with the law. I have a copy of his full letter that I got a few weeks ago but it is a pdf and I don't think I can upload it here. Constantin Gurdgiev got involved in the twitter conversation at one point as well in support of Honohan. |
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Let Christy Take It.
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