Property prices.......

[benin]

ok things dont look good.but we need to be positive ..ireland needs it..im positive we are fucked...will that help?

[BruceAlmighty]

ok things dont look good.but we need to be positive ..ireland needs it..im positive we are fucked...will that help?

It couldn't hurt...

[anon361]

I blame the financial advisers that popped up on every street corner just as much as the banks and ourselves, how many of us know someone that went to one of them and they filled in the mortgage application form with fairytales for them and as for Salary certs required with the application, a €20 rubber stamp bought in any office supply shop with the name of the company you work for on it got around that.. One of my staff came to me looking for blank P60 forms, when I asked her what for she said her advisor wanted them, her salary was too low in the prvious year so he was going to fill in the P60 so she would meet the criteria..

[luther]

I blame the financial advisers that popped up on every street corner just as much as the banks and ourselves

100% correct. I've said it time and time and time again.........

I would lay the blame for much of this countries financial woes directally and squarely at that sleepy fuckers door........

I'll leave it there otherwise I could rant on about that useless gobshite all night............

[oneeyedreilly]

I'm afraid the worst is yet to come, when all those people who are behind with their mortages, are out of whatever moratoriums the regulator has in place, there will thousands of re-possesions and forced sales and then watch prices drop.

[dublin24]

I'm afraid the worst is yet to come, when all those people who are behind with their mortages, are out of whatever moratoriums the regulator has in place, there will thousands of re-possesions and forced sales and then watch prices drop.

At the moment the banks are not interested in foreclosing because the property is unlikely to be sold at a price that would clear the capitol lent and the bank would also have a cost to maintain the building. But at the first sign of prices increasing the number of forecloseures will be huge.

[scotus]

I blame the financial advisers that popped up on every street corner just as much as the banks and ourselves

I don't think ANYONE connected with the madness looks good, but I would foremost lay the blame at the Regulators and government policy for this mess.

We pay them to prevent this kind of thing happening. And the arguments that they trot out about not knowing are just plain wrong.

[Liberty Love]

I blame the financial advisers that popped up on every street corner just as much as the banks and ourselves, how many of us know someone that went to one of them and they filled in the mortgage application form with fairytales for them and as for Salary certs required with the application, a €20 rubber stamp bought in any office supply shop with the name of the company you work for on it got around that.. One of my staff came to me looking for blank P60 forms, when I asked her what for she said her advisor wanted them, her salary was too low in the prvious year so he was going to fill in the P60 so she would meet the criteria..

I think any of the mortages obtained with false documents that lending company's helped with should be null and void... When Iwent for mortgage. I was sent to accountant who made it possile for me to purchase.. The mortagage company, accountant and I knew the papers were complete bullshite..
They are going to knock houses down to stabalize market. Right now too many houses and not enough buyers.... The whole thing is disgusting really

[johnmurphy]

I think any of the mortages obtained with false documents that lending company's helped with should be null and void... When Iwent for mortgage. I was sent to accountant who made it possile for me to purchase.. The mortagage company, accountant and I knew the papers were complete bullshite..
They are going to knock houses down to stabalize market. Right now too many houses and not enough buyers.... The whole thing is disgusting really

problem is that the borrowers signature is there saying that it is all true but there is no signature on behalf of the lender saying that so it is the borrower who is liable for the false information but i heard on the radio the other day of cases in the usa where the banks sold on the mortages and then they got sold on again and again now the banks can not find the original papers and even when they can it is unsure who is owed the money

e.g. aib lends joe bloggs 500k to by a house but then sell the mortage to some other bank who sell it on again etc

anyway it seems the aib bank officials did not have the paperwork anymore when joe bloggs defaulted and the aib officials who were signing the legal proceedings for foreclosure were doing so illegally because they must "have sight" of the original paperwork so it just might be worth asking for sight of the original paperwork if you are threatened with foreclosure

[anitasizzle]

I blame the financial advisers that popped up on every street corner just as much as the banks and ourselves, how many of us know someone that went to one of them and they filled in the mortgage application form with fairytales for them and as for Salary certs required with the application, a €20 rubber stamp bought in any office supply shop with the name of the company you work for on it got around that.. One of my staff came to me looking for blank P60 forms, when I asked her what for she said her advisor wanted them, her salary was too low in the prvious year so he was going to fill in the P60 so she would meet the criteria..

Sounds like a government sponsored pyramid scheme to me