The worlds richest

Posted: Tue Jan 17, 2017 11:32 pm by Blindjustice BATONEFFECT
Forum: The Central Bank (29 Replies | 1724 Views) ... -equality/

in 2016 nine people owned the same as the 3.6 billion who make up the poorest half of humanity

In 2010, by comparison, it took the combined assets of the 43 richest people to equal the wealth of the poorest 50%, according to the latest calculations.

How does this effect the world ? Socially and economically? Is it a bad thing?
On the face of it it certainly sounds obscene

Are stagnant wages and decreasing property ownership a symptom of this? Do the richest have so much purchasing power that they can buy so much property that they essentially control prices? Or is this too much of a exaggeration?

Most recommended comment on a guardian article on this: ... poorest-50
Why does anyone even care about growth figures or GDP these days? It doesn't matter to anyone anymore if only the top 0.001% see any benefit from it...

Second most recommended:
Easy need to make a fuss. The wealth will start trickling down any minute now

Where to recruit engineers with exp in chemical/LPG tankers

Posted: Fri Jan 20, 2017 3:05 pm by Pill
Forum: The Central Bank (7 Replies | 379 Views)
Sorry mods, I know wrong place but can you please leave for a few days?

Anybody? I've tried the usual agencies with the usual reply of 'too niche' 'not much demand for that here'. I'm looking to recruit one/two engineers full time or part time (desk based in Ireland) reporting to the board concerning the vessel stationed (LPG) overseas.

Longshot I know :x

WIW - Detached Family Home in Foxrock / Carrickmines

Posted: Tue Jan 17, 2017 4:03 pm by ChefHarold
Forum: Sell, Buy or Rent? (18 Replies | 1059 Views)
Looking for a reasonably big family home in Foxrock or Carrickmines, around 3,000 sq.ft. with a medium sized garden. Trying to get a reasonable understanding of price in the area. I know a lot of it is down to the specific property location/spec meeting an individual’s desire to live there but it’s still a mystery to me. I’ve tried using a formulaic approach to valuation in the Foxrock/Carrickmines area, for the sort of home I’ve been looking for.

The simple formula I’ve been using, based on what I’ve learnt here is;
• Plot: €2.5m per acre +€0.1m
• House: ~€300 per sq.ft. for good quality, new build / ~€200 per sq.ft. for older, but good quality / ~€100 per sq.ft. for older requiring extensive work

The values I’ve gotten vary widely from the prices achieved/asked in the area. The prices achieved/asked in the area vary widely from each other…and I can’t really see why. Thought I would share some of my valuations Vs prices achieved/asked. I know it’s not a particularly rigorous approach to valuation, but I would appreciate anyone’s thoughts on it. There will be more stock coming on the market soon, so I’ll be back hunting.

On the border of Foxrock, Cabinteely and Carrickmines; Winthorpe and Arabella. ( ... 99243.html )

Winthorpe, Claremont Road, Foxrock: 3,000 sq.ft. on 0.16 acre – sold for €1.75m – ( ... enDocument ). My valuation was giving me ~ €1.4m (€500K + €900K) - €350k (20%) below eventual selling price!

Arabella, next door; 3,200 sq.ft. on 0.25 acre – sold for €1.97m ( ... enDocument ). My valuation was giving me ~ €1.685m (€725K + €960K) - €285k (15%) below eventual selling price!

Arabella did have reasonable sea views from the back garden, and a nice garage out front. Both fronted onto the busy Claremont Road/Cornelscourt Hill. Handy enough walk to the Luas at Carrickmines.

Around the corner on Gordon Avenue; Kinloch, one of a pair of new built houses: 2,800 sq.ft. on 0.16 acre – was asking €1.6m, now €1.495 ( ... 18/3762777 ). Nice area of Foxrock, just of Westminster Road. About 10 mins walk to Foxrock village. My valuation is giving me ~ €1.34m (€500K + €840K) - €155K (10%) below current asking, so not too far off.

Then in Carrickmines Wood, off Brennanstown Road, Carrickmines Oaks: 2,850 sq.ft. on 0.16 acre. About 15 yrs old, BER C1, great condition throughout with new kitchen – was asking €1.75m, now €1.595 ( ... 18/3762014 ). Lovely estate, easy access to Cabinteely Park. Handy enough walk to the Luas at Carrickmines. My valuation is giving me ~ €1.21m (€500K + €710K @ €250 sq.ft. as new kitchen, bathrooms etc ) - €385K (25%) below current asking!

Most recent sale in Carrickmines Oaks was #12, which sold for €1.95m ( ... enDocument ). It was about 3,500 sq.ft. on 0.4 acre. My valuation was giving me ~ €1.875m (€1.1m + €785K @ €225 sq.ft. as in very good shape as I recall) - €75k (4%) below eventual selling price!

As you can see, prices for quite similar houses in a close area vary fairly widely. The selling prices for Winthorpe is the one that really surprised is the asking price for Carrickmines Oaks.

Financial planning

Posted: Thu Jan 12, 2017 11:14 am by poohbear
Forum: The Central Bank (24 Replies | 1447 Views)
So, it's the new year and it seems like a good time to assess things financial.

Over the past year-and-a-bit I've bought a place and spent money bringing it up to date, so now I find myself with more disposable income that needs a good home, now that I'm no longer paying high rent and saving.

Last year I was putting spare cash into mortgage repayments (after the renovation work, of course). This year I want to be a bit more considered, as I have a fair bit of spare income (and who knows, that may not last forever).

First off, with needing cash for deposits/renovations, I haven't been maximising my pension contributions for tax relief and I pay quite a lot of top-rate tax. I've already set up AVCs for the maximum 20% relief this year. I suspect that one of the best things I can do financially this year is to make a once-off AVC and claim it against 2016's unused relief as well, which I believe I can do until October 2017. My pension is growing nicely these last few years but it's nowhere near needing to worry about overfunding in the next decade, even with good growth.

As an aside, I didn't know until yesterday about the Standard Fund Threshold of 2 million... for a career-long investment that is supposed to benefit from compound growth that's a shockingly low ceiling, in my opinion. Especially given what sort of an annuity 2 million buys you, and compared with some of the defined benefit packages that people are retiring on these days. Those of us with defined contribution pensions are certainly being well screwed over in recent years between that, the reduced relief, and the levies.

So after pension AVCs for this year and last year, the question becomes what's the best thing to do with other disposable income. I have about 190K mortgage remaining at 3.3%, and a moderate rainy-day fund in cash. With the lack of 'safe' returns elsewhere it seems sensible to keep putting cash into overpayments, but then of course it is inaccessible, and it's possible that over the long term there are better returns elsewhere.

I'm starting to lean towards splitting 75% of available funds to mortgage overpayment and 25% to another investment, maybe into buying ETFs or similar.

Maybe this is the year to start thinking about getting a financial adviser - do folks here find them worth it?

Cash incentives to restore properties in rural areas

Posted: Tue Jan 17, 2017 9:09 am by ixus
Forum: Revolting Republic, Pt VII - Marching toward default? (7 Replies | 701 Views) ... 72993.html

Cash incentives to restore properties in rural areas to lure people to small towns and villages

Cash grants for refurbishing old buildings in rural communities are to form a central plank of the Government's Action Plan for Rural Development, which is being brought before the Cabinet today.

The scheme is aimed at luring all house buyers, but specifically older people and first-time buyers, back into rural communities damaged by unemployment during the recession.

Young people buying houses in designated rural towns would be given cash grants to renovate their new homes along with the tax relief available under the first-time buyer scheme.

The renovation grant would also incentivise older people living alone in isolated parts of the country to move into town centres where more services are available. The cash incentive would allow older people to refurbish houses and make them more accessible for their later years.

Shomera or someone else?

Posted: Thu Jan 12, 2017 10:55 am by cyrusir
Forum: Sell, Buy or Rent? (10 Replies | 1398 Views)
Looking to get a nice home office built in the garden, ideally with a section that can act as a small shed as well.

I understand shomera are pretty highly regarded but certainly expensive, can anyone recommend an alternative?

The aesthetics are as important as anything else :x

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