Jump to content
House Price Crash Forum


  • Posts

  • Joined

  • Last visited

Everything posted by Rock-n-Roll

  1. does this mean that you agree that buying through an Ea carries risks as well? rock on!
  2. well from a quick look i also saw water tax carbon tax benefits tax high earners paying more tax of course more drink + ciggies tax and a plan to move Ireland to a cashless society WTF! rock on!
  3. folks in the south are about to be hit coming our way soon! http://www.irishtimes.com/newspaper/breaki.../breaking29.htm rock on!
  4. the saga may come to a head on thursday but i doubt it! http://www.independent.ie/breaking-news/na...ay-1880273.html rock on!
  5. as always SS Caveat emptor! rock on!
  6. of dear VI thers 10 houses at wilsons in the 1 night you would be happy with! i think it might be more like 1 house in 10 auctions! yes with an EA sale you can walk away so can the seller no guarantee of securing your dream house as for finance well you shouldnt be at an auction if you havnt it covered but then should you making offers to EAs without knowing your limit and messing sellers about you probably know more about this rock on!
  7. judging by the number of punters who frequent it unlike a lot of other businessmen in the toon yer mans wallet must be rock hard! rock on!
  8. hey PP i thought you were that busy watching them palladium tophats, candles etc that you had forgotten about this aul thread! NIRPS sounds nasty! could it be some form of parasitic infection of the nether regions brough about by intimate contact with bankers? rock on!!!!!
  9. as far as i know in the good old US system debts like property taxes which would follow the previous owner here are held against the actual property there so you could buy a house and then find yourself with a large tax bill to settle at auction here if you and your legal eagle do the research before hand regards title etc which all but the very foolish will be doing what risks are there? you will certainly not have the risk of an EA talking you into a bidding war which only exists in his imagination! rock on!
  10. so who would you rather have setting the market price? a roomful of buyers at an auction or an EA spinning a few yarns on the dog and bone rock on!
  11. so where are all these graduate jobs? have we an education bubble? rock on!
  12. if you do it the safe way you will pay lots and lots of tax and your btl empire will take forever and a day to amass imo this pair like most property magnates at the moment are under rock on!
  13. ok Macker tell us the facts are you buying the flat or as you stated 29/809 your sis "So anyone know whats going to happen here? My sis is due to complete this week coming but says she has no mission. Has already been knocked back mortgages due to valuaction being about 30% off purchase price. Is anyone going to be able to complete??? Surely these guys need funding of some sort to move to stage 2 ? Word is they will chase her down for diff of resale! The cant seem to accept that unless she gets a mortgage at todays valuation they can get nothing more out of her. What happens when the majoroity of people in same boat dont complete? This is a farcical situation and they are going to have to give people some options. Anyone else due to complete nxt week? Any advice for my tortured sis??" or have you both bought? as for the half wit developer failing to renegotiate you obviously have not a clue regarding contractual law as well you mistakenly believe that the greedy halfwit has a huge profit margin and could easily knock off a few k the reality is that the last units sold will be when he banks his profit my understanding was that quite a number in Titannic were not sold has he any profit margin to play with at the moment? sorry to have rocked your boat but this is Houseprice crash! come here and rock on!
  14. what came after the 30s a rather big war and it was not till the late 50s early 60s we got rid of rationing etc and things started swinging again in the 70s we got very lucky and found larges lakes of black stuff in the n sea this time them lakes are disapearing fast and peak oil almost certainly upon us WHOOPS! Rock on!
  15. a few weeks ago i wrote a wee bit about the problems facing the Toon of Ballynomoney so what is coucil doing about it? http://news.bbc.co.uk/1/hi/northern_ireland/8235671.stm ********** ******** ******** ******** ***** politicians! rock on!
  16. i think you will find the prospect of a high court writ will have many more finding the funds than you imagine! rock on!
  17. this is not new took a couple of american cuzs to the Ulster American folk park recently one item stuck with me it told the story of how the emigrants were coaxed to get on the boat with tales of streets paved with gold, rivers flowing with milk and honey etc now stories like this would come as no surprise from the captains trying to fill their boats but it also came from the letters of relatives and friends who had already crossed the sea even though most of them were still living in abject poverty! chasing the dream and not admitting you got it wrong seems to be hardwired! rock on!
  18. you still havnt got it debt is good more debt better the one with the most debt wins! we are going up where we belong! http://www.youtube.com/watch?v=BZWuyxTcuw8 rock on!
  19. i was going to say something along the lines of dog eat dog world but we have been there before perhaps its more like dog eat fish in a barrel! rock on!
  20. feck this is turning into a true classic! in their battle royal with the green bankers the orange bankers have recruited a few mecernaries chief of which is our fav mega bear dub prof enjoy http://www.irishtimes.com/newspaper/frontp...4253666112.html DUTCH-OWNED ACCBank has claimed the Irish property market may not recover for at least a decade in fresh evidence it presented to the High Court opposing a second bid for protection for Liam Carroll’s beleaguered Zoe group. The court heard that evidence in support of the group’s survival showed mainstream economists believed the economy would reach the bottom of the cycle in 2010 and start to recover in 2011. However, a report by University College Dublin economist Morgan Kelly, submitted to the court by ACC, said property values may only recover to less than half of their peak values and remain there for a decade or longer. The findings of Prof Kelly’s report were disputed by counsel for Mr Carroll’s group, who said most economists expected some form of recovery by 2011. Mr Carroll’s group yesterday began a second unprecedented bid for court protection, seeking the appointment of an examiner to seven grossly insolvent companies. The group is seeking court protection from liabilities of €1.35 billion, arguing an improvement in the property market could increase the value of its properties from €644 million based on distressed sales over six months to €1.2 billion over three to five years. The group argues it has a reasonable prospect of survival based on a three-year plan supported by its main creditor banks. ACC is opposing the petition and seeking the appointment of a liquidator to two of the companies over unpaid loans of €136 million. A report by accountants KPMG supports the Zoe group’s claim for survival, saying its assets could be worth €1.36 million over three to five years, which would cover its liabilities and leave a surplus of €10 million. KPMG said the Government’s “bad bank†plan to remove problem development loans from the banks could be positive for the group. The court heard Prof Kelly predicted property price falls to be “large and prolonged†with values possibly returning to mid-1990s levels of about one-third to one-half of peak values. Michael Cush SC, representing the Zoe group companies, said Prof Kelly was “much more pessimistic†than other economists and the group had responded to his claims in full. Mr Justice Frank Clarke noted Prof Kelly had been “laughed at†in 2007 when he predicted property prices to fall by up to 50 per cent. Prof Kelly was “almost rightâ€, the judge said A report submitted by ACC from estate agents DTZ Sherry FitzGerald said the commercial property market may not recover for two years. However, evidence submitted by the Zoe group from auctioneers CB Richard Ellis and Hooke MacDonald showed the market was “not on its last legs†and there had been “a noticeable pick-upâ€. The court heard Bank of Scotland (Ireland) was the only lender to state it believed the group had a reasonable prospect of survival and Bank of Ireland and KBC Bank Ireland were the only institutions whose interest bills are being paid in full. The group has an annual income of €40 million from rent on its properties and dividends in two publicly-quoted companies. This is sufficient only to meet 68 per cent of the interest owing to eight lenders, the court heard. The Zoe Group argued it could more than meet its interest bill by 2011 and return to solvency in 15 months’ time if its companies secured court protection and continued to be supported by banks. State-owned Anglo Irish Bank has agreed to advance the group €68 million for new offices in Dublin docklands. The group’s survival plan is also contingent on the sale of 375 residential properties and 103 already sold or on which sale agreements have been reached. It has emerged Mr Carroll and his wife Roisin have personally guaranteed loans of €34 million to two of his groups. The couple guaranteed loans of €10 million from Bank of Scotland (Ireland) to the Zoe group and €24 million to Mr Carroll’s Dunloe Group to secure finance to repay trade creditors earlier this year. This article appears in the print edition of the Irish Times rock the feck on!
  21. ah PP the pipes the pipes are calling! http://www.youtube.com/watch?v=H1iR2Wi3u5o i think most would conclude that property investment last few years was the http://www.youtube.com/watch?v=aQIxn7s3ym8...feature=related from the rock bible "Business man when you make your deal do you know who you can trust? do you sign your life away? do you write your name in dust? every dog has his day its a http://www.youtube.com/watch?v=j9AfACmIHAE...feature=related friday night time to eat some cat rock on!!!!!!!!!!!!!!!!!!!!! rock on!!!
  22. be carefull VI boys from the bible belt can be somewhat touchy where their roots are concerned! rock on!
  23. welcome back as you promised would you like to tell us how your investments are performing? what about your 06 one ? ah go on give us the details? rock on!
  24. Economists warn against Nama STEPHEN COLLINS, Political Editor A group of 46 economists has signed an article in today’s Irish Times calling on the Government to reconsider the National Asset Management (Nama) project. They argue that Nama should pay the banks only the current market value for the loans it will assume. In response, economist Alan Ahearne, special adviser to Minster for Finance Brian Lenihan, said last night that a number of claims in the article were incorrect. He added that most of the economists in the country had not signed the article drafted by Prof Brian Lucey of Trinity College. Prof Lucey said he had contacted about 250 lecturers in economics and not one had come back to say they disagreed with the views expressed in his draft. He said a number did not sign because they did not want to get involved in a round-robin exercise. In the article, the economists say the Government will pay significantly above market value for the bad loans advanced by the banks. “The key difficulty facing the Government is that to pay prices now prevailing would leave the banks sitting on losses sufficiently large as to effectively bankrupt them, which would then require the State to invest capital sufficiently large as to in effect nationalise the banks,†the economists argue. “It is thus clear that the Government are determined to pay a price for land and speculative developments greatly in excess of the market clearing price.†The economists say that by overpaying, the State would wind up transferring to private individuals a sum close to exchequer’s entire annual tax-take. The economists went on to urge the Government to reconsider its approach to payment for loans to be taken into Nama and to pay no more than current market value, which they said could be ascertained even in these straitened times. The article suggests that bank shareholders should forfeit their investment. Bondholders should also be asked In his e-mail to fellow academics asking them to sign the article, Prof Lucey pointed to the impact of an earlier article on the issue signed by 20 economists. “The 20 economists piece in The Irish Times has been constantly referenced in the debate, so we as a group do have influence. How much more influence on the debate might we have if we had 200 signatories.†Mr Ahearne was one of the economists contacted, but he responded by sending an e-mail to colleagues taking issue with what he described as “some of the deficiencies in the note you have been asked to signâ€. He disputed a number of claims in the article, including the assertion that the true value of the loans being taken over by Nama would be close to €30 billion. “I’m afraid that anyone who is trying to suggest that they can make a reasonable guess at the ‘true value’ of the loans without knowledge of any of the details about the individual loans is either delusional or is being disingenuous,†he said. Mr Ahearne also said the notion of making the bondholders swap debt for equity showed “a startling lack of understanding†of the bondholders’ position, given that they were covered by the State guarantee and bonds might have been bought after the introduction of the guarantee. “I hope you agreed that what you have been asked to sign is a rather poor piece that unfortunately does nothing to inform this crucial debate,†he concluded. With the Cabinet expected to be briefed on Nama today by Mr Lenihan, Fine Gael finance spokesman Richard Bruton last night accused the Government of running away from a debate on the issue. http://www.irishtimes.com/newspaper/breaki.../breaking11.htm rock on!
  25. yep he is probably right ! saw a great quote yesterday cant find a link at the mo but it was some economics prof who saw uk future with huge debt burden as " we will be taxed like Scandanavia yet we will be lucky to see US level of services " who is volunteering to switch the lights off ? oh sorry forgot the lights will have already gone out unpaid bill it seems rock on!
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.