Call for cap on savings rates as pain to fall on borrowers

Posted: Wed Mar 10, 2010 9:52 am by superman
Forum: The Central Bank (21 Replies | 577 Views)
Quote:
Here
Philip O'Reilly, a former banker who runs a mortgage brokerage and supplies IT systems to 300 brokers, said the State should cap deposit interest rates at 2pc.


Capital flight anyone?

Manipulating photos when trying to sell a property is sleazy

Posted: Tue Mar 09, 2010 9:43 pm by BjornYesterday
Forum: The Return of the Banana Republic, Pt. VI The Slippery Slope (18 Replies | 961 Views)
I'm looking to buy a place in Dublin. But I'm seriously disturbed by some of the misleading photos the estate agents are using.

The sleazy tactic of using a wide angle photo lens to make spaces 'bigger than they actually were' by estate agents was common during the eighties in London, particularly with flats (apartments).

This was made illegal in England by the Property Misdescriptions Act 1991.

Why are Irish estate agents still allowed to post misleading pictures of a property?

I've seen several photos where they haven't even gone to to expense of using a wide angle lens but have simple squashed the photo in order to distort the dimensions to mislead the buyer, or at least get the potential buyer to waste time viewing the property.

I'm sure some estate agents eskew this practice but are probably losing business as a result.

Are Mathematical Models the Cause for Financial Crisis?

Posted: Tue Mar 09, 2010 4:44 pm by What Goes Up...
Forum: The Central Bank (29 Replies | 485 Views)
http://www.researchchannel.org/prog/dis ... 5&fid=4661
Quote:
Are Mathematical Models the Cause for Financial Crisis in the Global Economy?

Andrew W. Lo, director of the Massachusetts Institute of Technology’s Laboratory for Financial Engineering, breaks down the hot debate brewing about the cause of the current financial crisis. Learn the arguments for and against the claim that complex financial securities and the mathematical models used to manage them should take the blame. Was it systematically programmed or just human nature?

Video: http://www.digitalwell.washington.edu/r ... _ipodv.m4v
Audio: http://www.digitalwell.washington.edu/r ... _ipoda.mp3

Renting in D6, landlord decided to sell, negotiate?

Posted: Tue Mar 09, 2010 1:53 pm by Winifred
Forum: Sell, Buy or Rent? (20 Replies | 798 Views)
Hi folks,

Renting a lovely battered 4 bed house in D6, paying 2k a month which is goingish rate for the area. Harder to price ours as it is rather battered but suits us perfectly.

Landlord has decided to sell, they said they were last year (issued letter of notice) then clearly had a heart attack at the valuation. Received a letter Jan 20th saying they are selling and we are to give them vacant possession within 10 days notice. Urgh.

They are nightmare landlords (long story) but house is perfect for us so it may take us a while to find somewhere as good. They want us to sign a new contract stating rent will be the same and we will quit when notified.

So question is what should we do? We are out of contract, been here 3 years so think we're due about 56 days notice according to PTRB. I'm going to write to them telling them politely that we're not paying full rent and not facilitating viewings whenever they please.

Any advice?

Tactics for finding a rental

Posted: Tue Mar 09, 2010 8:55 pm by iguana
Forum: Sell, Buy or Rent? (16 Replies | 449 Views)
I'm going to start looking for a rental in Dublin 6w/8/12 in the next few weeks and am currently looking at places online. The prices seem to have no real rhyme or reason so trying to have any real idea of what we can get for our money is very frustrating. Prices for some 4 bed houses in Terenure have lower asking prices than some extended ex-corpo houses in Crumlin. It's maddening.

I have a huge list of potential properties that on paper meet my requirements, and it grows by the day as new properties come on the market. (Obviously some do get let, but not as fast as new ones appear).

I was thinking that the way to deal with this is to make a trip to Dublin in the next 3 weeks or so and spend a couple of days viewing everywhere on my list. If a place is still on my list after seeing it I was thinking that it might be best to just be completely straightforward with the owner/agent. Tell them that I like the house and it meets my needs, but so do a number of others. Because of this the deciding factor will obviously be price. I am looking for an initial six month lease with a rolling contract thereafter and I have dogs. If they are interested in having me as a tenant they can let me know what their best price is.

I figure this might alienate some people but apart from that I'm not too sure about what to do. There is clearly a massive over-supply and nobody seems to have too clear an idea about what the rental value of the properties are. I'm just looking for a rental house so I have pretty wide criteria which means I have a huge list of potential properties. I don't want to end up overpaying in a renter's market.

Terenure - pinsters valuations please.

Posted: Tue Mar 09, 2010 12:37 pm by tomdk
Forum: Sell, Buy or Rent? (21 Replies | 712 Views)
Hey folks,

Me:
Long (LOOOOOOONG) time reader, first post tho'.
I'm not a dealer, just a punter.
Renting at the minute. Looking to buy (married, kids, all tired of moving when landlords won't repair things, etc.).
Haven't got great salary but do have a good chunk of cash to take the sting out of a mortgage with a good downpayment. So downpayment plus mortgage should give me a good range.

What I'm askin' about:
The price would ye put on...
http://www.myhome.ie/195783

I'd have a fair guess not one of ye will say 820k (unless it's in a sentence with some curse words!).

General about the house:
Fairly big house, between rathgar and terenure. Quiet road. Good parking. House needs a chunk of work (it's currently two apartments).

My sentiment: this would be a good family house for a family on fairly good incomes. Now sadly that ain't me, but that's my thinking in terms of what it might be worth.

I see plenty of houses this size in rathfarnham, templeogue, etc.., not too many down in Terenure. So I can see it being a premium over the former (which I would guess should price at say 4 times income for a middle to upper income household). I've guessed gross takehome 120k for such a household. Puts larg'ish houses in rathfarham/templeogue at 450 ->550k (most for sale at the moment asking for more than that, so that's just my opinion).

What's the premium? Rationalise it for me!

Let the games begin!

All the wrong options have been pursued IT 8.3.10

Posted: Mon Mar 08, 2010 11:46 am by mollie
Forum: The Return of the Banana Republic, Pt. VI The Slippery Slope (35 Replies | 1664 Views)
http://www.irishtimes.com/newspaper/opi ... 94036.html

In this open letter, 28 leading economists, social scientists and economic analysts tell the Government that it’s policies for dealing with the economic crisis are wrong. And they chart a different course.

Open Letter To The Government: The Signatories

PROF TERRENCE McDonough, Department of Economics, NUI Galway.
Prof Ray Kinsella, Smurfit Business School, UCD.
Prof David Jacobson, Dublin City University Business School.
Prof Paul Teague, School of Management and Economics, Queens University Belfast.
Prof Peadar Kirby, Department of Politics and Public Administration, University of Limerick.
Prof Rob Kitchin, National Institute for Regional and Spatial Analysis, NUI Maynooth.
Prof James Wickham, Department of Sociology, Trinity College Dublin (TCD).
Prof Seán Ó Riain, Department of Sociology, NUI Maynooth.
Prof Mark Boyle, Department of Geography, NUI Maynooth.
Dr Jim Stewart, Senior Lecturer in Finance, School of Business, Trinity College Dublin.
Dr Joe Wallace, Kemmy School of Business, University of Limerick.
Dr Michelle OSullivan, Kemmy School of Business, University of Limerick.
Dr Daryl DArt, Dublin City University Business School.
Dr Roland Erne, UCD School of Business.
Dr Proinnsias Breathnach, Department of Geography, NUI Maynooth.
Dr Mary Murphy, Department of Sociology, NUI Maynooth.
Dr Colm ODoherty, Department of Applied Social Studies, Tralee Institute of echnology.
Paul Sweeney, economic adviser, the Irish Congress of Trade Unions.
Sinéad Pentony, head of policy, Tasc.
Dr Nat OConnor, Tasc.
Tom O’Connor, lecturer in Economics, Cork Institute of Technology.
Rory OFarrell, European Trade Union Institute (Brussels).
John Corcoran, lecturer in Economics, Limerick Institute of Technology.
Michael Burke, economic consultant (London).
Peter Connell, TCD.
Patrick Kinsella, DIT.
Tony Moriarty and Michael Taft, Unite trade union.

UCD/DIT report: Overbuilding, empties and NAMA

Posted: Thu Mar 04, 2010 9:19 pm by Larry
Forum: The Return of the Banana Republic, Pt. VI The Slippery Slope (88 Replies | 3467 Views)
Seems to be a whole bunch of findings in this new report, about which I know nothing more than is reported in this story.

Quote:
Developers built about 170,000 more homes than were needed during the property bubble, academics claimed today.

The latest study on empty housing has found a total of 345,000 homes – 17% of all housing – are lying vacant.

The expert review found that when holiday homes, houses no longer in use and standard levels of surplus housing were measured, there was still no demand for about half the country’s empty homes.

University College Dublin and Dublin Institute of Technology also warned the State bad-bank Nama – designed to ease the banking crisis and ultimately reignite lending and the property market – could prolong the slump.

Read more: http://www.breakingnews.ie/ireland/deve ... z0hFEuUoO2

Thinking of Buying

Posted: Tue Mar 09, 2010 7:28 pm by k09
Forum: Sell, Buy or Rent? (8 Replies | 526 Views)
Hi,

My gf and I have been looking to buy a house for the past few months now. We would ideally love a nice gaff in Ranelagh/Rathmines/Dundrum. Other places that appeal include Raheny/Clontarf.

However, what we would love is a 3bed semi-d. And there seems little chance of finding this in Dublin Southside. Our budget is 350k and we have been saving for over a year now.

We are still not sure what to do. We really want to move on with our lives(have been renting in a tiny city centre flat for 6yrs now!) and would love to own our own home. But, from what I am reading in other posts on this site it seems prices have to fall a further 50%(!).

So would we be mad to buy now? Or are there good opportunities out there. What are our options?
Thanks.

Valerie and the Starlites

Posted: Mon Mar 08, 2010 8:46 pm by hquain
Forum: The Return of the Banana Republic, Pt. VI The Slippery Slope (17 Replies | 1183 Views)
A Classic.

http://www.independent.ie/lifestyle/property-plus/developers-gone-east-will-return-2089638.html

Quote:
You only have to look at Dublin city today -- the docklands, the inner city, Gardiner St, Cork St and the Liberties -- and compare it with the Dublin of the 1970s, to grasp just how much developers did for the city. When this recession is over we will be able to look at the buildings that turned what was a scruffy, run-down city, into a proud centre of style. They will still be standing, a tribute to the men, many of whom are now facing difficulties -- if not actual ruin -- who were responsible for helping our city and country to take its place on the world stage.

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