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It's 2006. It's the Celtic Tiger...

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9fingers View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote 9fingers Quote  Post ReplyReply Direct Link To This Post Posted: 01 May 2021 at 4:59pm
Originally posted by Gary McKay Gary McKay wrote:

My business went bang at the start in 2006 as contractors went bust. Saw it coming a mile away.

I was ‘painting houses’ for a year as I couldnt draw the scratch as I was ‘self-employed’.

Good times all the same although it spawned some amount of kunts.
I know you’re full sh*te Gary but you hardly think we’ll believe you were a hitman 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MayoMark Quote  Post ReplyReply Direct Link To This Post Posted: 01 May 2021 at 6:22pm
House prices have gone a bit mad in the last two weeks believe it or not. 3 bed semi in an average sized Mayo town sale agreed for 210k. If asked the value 4 weeks ago I'd have said maybe 150/160

Loads more examples.

I think these people will end up in negative equity almost immediately. Lots of panic because of the pent up demand

Also don't think there will be anything like the last crash. Apart from those few examples, banks have been very tight on lending. There could very well be a bit of a trough but I hope not a crash 
They finally did it man... They killed my f**kin' car...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote zizu Kilbane Quote  Post ReplyReply Direct Link To This Post Posted: 01 May 2021 at 6:36pm
Originally posted by theheff1989 theheff1989 wrote:

finished 5th year in school. 

Part time job in Supervalu. And working with the father plastering in the summer. Well labouring. So was actually good money as a 17 year old. 

First proper girl friend as well. And a bit of freedom going out drinking. 

Good times to say the least. 

This was me also!!!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Zinedine Kilbane 110 Quote  Post ReplyReply Direct Link To This Post Posted: 01 May 2021 at 6:43pm
Originally posted by MayoMark MayoMark wrote:

House prices have gone a bit mad in the last two weeks believe it or not. 3 bed semi in an average sized Mayo town sale agreed for 210k. If asked the value 4 weeks ago I'd have said maybe 150/160

Loads more examples.

I think these people will end up in negative equity almost immediately. Lots of panic because of the pent up demand

Also don't think there will be anything like the last crash. Apart from those few examples, banks have been very tight on lending. There could very well be a bit of a trough but I hope not a crash 

Same issue in 07 and similar story in the UK and USA right now. House prices are at all time highs.

I bought a flat in London in 2006, I remember at the time there was panic as every year houses went up 20-30%. All my friends were buying and all the talk was ‘get on the ladder’. 

Shure there were lads in Dundalk buying flats in Dubai. 





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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gary McKay Quote  Post ReplyReply Direct Link To This Post Posted: 01 May 2021 at 7:23pm
Originally posted by 9fingers 9fingers wrote:

Originally posted by Gary McKay Gary McKay wrote:

My business went bang at the start in 2006 as contractors went bust. Saw it coming a mile away.

I was ‘painting houses’ for a year as I couldnt draw the scratch as I was ‘self-employed’.

Good times all the same although it spawned some amount of kunts.
I know you’re full sh*te Gary but you hardly think we’ll believe you were a hitman 
LOL
Knew someone would like the reference.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ConorMac77 Quote  Post ReplyReply Direct Link To This Post Posted: 01 May 2021 at 7:29pm
I started a job that year at the Northern Ireland Land Registry in Belfast - they basically couldn't get enough staff in to keep up with the volume of work that kept coming in. And it got madder the following year. A lot of staff were temp/agency staff so it was handy enough to cope with the crash. Thankfully, I had got in as permanent staff. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Green Cockade Quote  Post ReplyReply Direct Link To This Post Posted: 01 May 2021 at 7:46pm
I worked there myself years ago , in the 80s when it was located in River House in High Street. House sales are going mad right now in NI/UK because of the temporary stamp duty holiday. A nasty little tax that takes a big bite out of buyers' funds, avoiding it while the opportunity exists makes a big difference for a lot of people.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote irishmufc Quote  Post ReplyReply Direct Link To This Post Posted: 01 May 2021 at 8:16pm
Finished college and started working in a fruit and veg shop on a full & part time basis for the next 6 years on minimum wage while doing a second needless college course. Best craic I ever had in a job despite the sh*te pay. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Shedite Quote  Post ReplyReply Direct Link To This Post Posted: 01 May 2021 at 8:23pm
I started working in 2006, was too young to really see the gravy train, and as a result I was such cheap labour, companies were happy to keep the likes of me on through the bust. Don't think I ever really experienced the high (though we tried our best to fake it), but never got caught with property or redundancy either. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Jock Quote  Post ReplyReply Direct Link To This Post Posted: 01 May 2021 at 8:56pm
the lack of due diligence back then from the banks was unreal. I was on my placement with a contractor and one of the lads I worked with, was just basically inflating his salary and putting it on headed paper and he was forging the directors signature at the bottom of it. Done that three times in a space of a year to get funds for properties. They werent looking pay slips, bank statements etc. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote irishmufc Quote  Post ReplyReply Direct Link To This Post Posted: 01 May 2021 at 9:51pm
Originally posted by Jock Jock wrote:

the lack of due diligence back then from the banks was unreal. I was on my placement with a contractor and one of the lads I worked with, was just basically inflating his salary and putting it on headed paper and he was forging the directors signature at the bottom of it. Done that three times in a space of a year to get funds for properties. They werent looking pay slips, bank statements etc. 

And the financial regulators. Totally asleep at the wheel. Unhappy


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Drag your blanket blindly,
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Cabra Hoop Quote  Post ReplyReply Direct Link To This Post Posted: 01 May 2021 at 11:02pm
Funnily enough while property prices went through the roof around 2006/2007 (2 up 2 down former Dublin corporation houses going for £350,000 on Cabra), I think the real fun years of the tiger were between 1998 and 2003 when people seem to have a lot of cash. After that a lot of people got up there own arses going off to NY for shopping trips/buying villas in Bulgaria all on cheap credit. It had to go tits up. My main memory of 2006 was pacing the corridors of the Rotunda waiting for our first and nipping across to Conways to watch the world cup.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote The Huntacha Quote  Post ReplyReply Direct Link To This Post Posted: 02 May 2021 at 11:01am
Enjoying the glory days of 21's on a Wednesday and Barcode on a Thursday as a failing student in NUIM. Working part-time in the local Eurospar on a decent enough wage and coaching with Samba Soccer during the holidays which got me to Crete that summer. Good times.

Too young at that stage to have suffered from the crash that would hit 2/3 years later. Remember the bank offering stupid amounts to students to go away during the summers, even if they had very little regular income. 

Thought life would always be that way. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Trap junior Quote  Post ReplyReply Direct Link To This Post Posted: 02 May 2021 at 11:03am
Originally posted by The Huntacha The Huntacha wrote:

Enjoying the glory days of 21's on a Wednesday and Barcode on a Thursday as a failing student in NUIM. Working part-time in the local Eurospar on a decent enough wage and coaching with Samba Soccer during the holidays which got me to Crete that summer. Good times.

Too young at that stage to have suffered from the crash that would hit 2/3 years later. Remember the bank offering stupid amounts to students to go away during the summers, even if they had very little regular income. 

Thought life would always be that way. 


Train tracks are ching ching, bit of cash, you know what I mean?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote thebronze14 Quote  Post ReplyReply Direct Link To This Post Posted: 02 May 2021 at 12:30pm
Originally posted by The Huntacha The Huntacha wrote:

Enjoying the glory days of 21's on a Wednesday and Barcode on a Thursday as a failing student in NUIM. Working part-time in the local Eurospar on a decent enough wage and coaching with Samba Soccer during the holidays which got me to Crete that summer. Good times.

Too young at that stage to have suffered from the crash that would hit 2/3 years later. Remember the bank offering stupid amounts to students to go away during the summers, even if they had very little regular income. 

Thought life would always be that way. 

Redz on a Monday, Wednesday 21s and Barcode on a Thursday would have been my 2006 as well. Finishing 1st year in college in Pats, heading into 2nd year. Some amount of Pro Evo played too! Best few years of my life. The amount of drinking done was obscene and being at a college with 75% women had it's perks as a single young lad! Economy crashed as I was coming out of college. Managed to get my first teaching job so wasn't too bad as I had money for the first time as everything was coming down in price! Still in same job with a 2 year break in Manchester. Looking to move home next year. My 18-30s years will be looked back with fondness it's fair to say. Had some time!
 


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Post Options Post Options   Thanks (0) Thanks(0)   Quote Wheelo Quote  Post ReplyReply Direct Link To This Post Posted: 02 May 2021 at 1:41pm
Originally posted by Cabra Hoop Cabra Hoop wrote:

Funnily enough while property prices went through the roof around 2006/2007 (2 up 2 down former Dublin corporation houses going for £350,000 on Cabra), I think the real fun years of the tiger were between 1998 and 2003 when people seem to have a lot of cash. After that a lot of people got up there own arses going off to NY for shopping trips/buying villas in Bulgaria all on cheap credit. It had to go tits up. My main memory of 2006 was pacing the corridors of the Rotunda waiting for our first and nipping across to Conways to watch the world cup.

Well summed up - from mid 90s to 2006 all my money was spent of drink, drugs and football. Was a great time to be a teenager/ early 20s. I remember my maths teacher telling me to stop coming nto school hungover on mondays Sleepy

Wasnt on a mad wage after college but we were probably paying feck all tax. Didnt go on a holiday during those years either - didnt seem to be done by lads I hung around with - , but still felt loaded while partying! 

Cabra, you're right in your timing , my first sun holiday as an adult was in 2006, then a month in Thailand in 2007, the boom!!
TRAP OUT!!

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Artie Ziff Quote  Post ReplyReply Direct Link To This Post Posted: 03 May 2021 at 9:45pm
Originally posted by Wheelo Wheelo wrote:

 One thing I did learn is that the labourers and taxi men were first to see signs of the crash Thumbs Up

Not sure I'll be calling up my financial labourer for advice 
It would damage this forums' reputation
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Artie Ziff Quote  Post ReplyReply Direct Link To This Post Posted: 03 May 2021 at 9:54pm
I always a recall a friend buying a one bed near the Dublin mountains for 300k around 2005/2006 and just asked him how much is that gonna cost you over the full mortgage and he hadn't worked it out? Everyone else was doing similar. Pure daft, I was glad I wasn't caught up in it, it helped that I had very little money and wouldn't have been offered a 100% mortgage even if I wanted one.

 


It would damage this forums' reputation
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