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undersupply

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Posts posted by undersupply

  1. Mmmmmmmmm let's take the first statement shall we.

    Fact Ireland was neutral in WW2 and indeed had a Nazi embassy on their soil. It's well documented that spies from there tried to infiltrate the UK main land to assassinate Churchill. It is also true to say a small minority of Irish people did join the war effort to fight against Hitler.

    Fact With regard to molesting alter boys, again in the last 8 months if memory serves me correctly, the Catholic church HAS come out and acknowledged these terrible happenings.

    Fact Oh and of course abortion banning. Catholicism is AGAINST this.

    To make a racist statement one must put one race over another, i.e superiority. I don't think he does this does he?

    You can't extrapolate comments against another section of society or as you so disgustingly put is 'Pakkis & Darkies' because he quotes things, which if looked into have more than an element of truth in them.

    Perhaps my friend it is you which should consider the above before quoting such things.

    If I recall, we only recently had the first case of someone being sued on a BB for statments similar to yours. You have been warned.

    So if I quote an acqaintaince of mine who says that all the people from the middle east are towel lovin terrorist sand niggas, thats ok because it doesnt imply any racial superiority and there are grains of truth in them???

    Are all irish people catholic?

    I used these examples to highlight YOUR SELECTIVE RACISM ,not mine.

  2. There is a thread on Cambridge in the correct forum that is active as recently as today, with facts on house prices there.

    http://www.housepricecrash.co.uk/forum/ind...showtopic=28398

    I do not consider that Sierra Leone or Dublin are good investments,hence I said that I thought they were joke articles: that is why I did not put them in the investment forum.

    They are exhibits of the global house price bubble and were worthy of general discussion or so I thought.

    If they were not, I would have no problem if you requested that they be put in a more appropriate forum, and I would not call you an idiot or pathetic for doing so.

  3. You are pathetic.

    I am not saying it is going to last, i am not saying that these people are not going to get their fingers burn't.

    I am just telling you how it is, sorry it is not the mantra you want to hear.

    Hopefully there are some more posters from my area who will tell you the same thing, why don't you grow up.

    p.s I am lazy when in type, and my spelling is not the greatest in the world....so what, does that make my post null and void now...IDIOT

    If you want to post about cambridge post in the correct site.

    It is neither idiotic or pathetic to request that you put some effort into your posts.

    That is what grown up people do.

    You love abusing members on this forum, don't you?

    I remember the last few threads you started, all anecdotal rubbish with nothing to back it up.

    Why don't you post some rightmove links to back up your story?

  4. I had a good look in the Estate Agents for South Cambs and surrounding areas today, seems like all the 2/3 bedroomed property is just flying off the shelf at the moment.

    I would have said things have been flat for the 6 previous months, so what has kicked started this i have no idea.

    I just do not know what is going on, nothing really supprises me anymore, (o:

    The only thing i have noticed is that quite a few prject type propertys have been snapped up quickly, this has to be a BTL thing, it just cannot be FTB's, not for the money thet are asking.

    Sam

    Can this be moved to What is property doing in your area?

    Or the I can't spell troll subforum?

  5. Some signs of a slowdown in Ireland:

    http://www.bizplus.ie/news/1446

    Industrial Production Growth Slows

    11/04/06: The volume of production for manufacturing industries for the three month period December to February was up 0.3%
    However, the volume of manufacturing production
    was down 5.8% in February compared to February 2005
    .

    Goes to show that all bad things (HPI) must come to an end sooner or later :o

    More bad news here from irish indo

    Construction growth slips despite big State spending

    Civil works have compensated for the slow housing and commercial areas

    Pat

    Boyle

    THE rate of growth in the construction sector eased to its lowest level for eight months during March despite major spending on public projects, according to the Ulster Bank Construction Purchasing Managers' Index (PMI).

    A sharp rise in the level of civil engineering activity, mainly due to major public infrastructure work, helped compensate for a dip in activity in both the housing and commercial sectors, the survey shows.

    The seasonally-adjusted index is designed to measure the overall performance of the construction economy and, while in decline, it stayed well above the neutral or zero growth 50 mark at 56.6.

    The result means that despite being on a downward curve activity levels in the sector have grown every month since September 2003.

    According to Pat McArdle, chief economist at Ulster Bank, the civil engineering business was in the doldrums last year, with Government capital spending massively undershooting.

    "Now, it is the strongest performing sector," he said, a feature which is in line with the recent Exchequer returns, showing that capital spending is on target and up a massive 22pc on the first quarter of 2005.

    "It looks like the Government spending agencies have finally got their act together and 2006 could well be the first year in a while to see no underspends in either current or capital spending."

    Civil engineering activity increased at the sharpest pace for 15 months and posted the most marked growth of the three construction areas for the second time during the first quarter.

    The other two components, housing and commercial, were both off sharply, even if they remained well above the 50 no-change level.

    "While housing is erratic, and one is loath to read too much into one month's figures, commercial has eased steadily from its peak last November," said Mr McArdle.

    The March figure measuring activity in the commercial property construction sector was a 23-month low.

  6. SOMETHING I do not understand...

    "Their good incomes meant that they could easily borrow the £200,000 needed to complete the deal... Unable to complete the deal, the couple are now resigned to losing their deposit"

    IF they can "easily borrow" this amount, why are they "unable to complete"

    Arent they like any other couple in negative equity?

    In fact, they should thank their lucky stars if they can walk away and ONLY lose the deposit. Had they bought and moved straight in, they would have been truly stuck in negative equity. The reality is, they were speculating on property values going higher, not buying a home to live in.

    Why should we feel the tiniest ounce of sympathy for these fortunate property speculators who were lucky enough to lose ONLY their deposit? (the financial literacy of the UK press is appalling)

    Read the full article again, they can be sued by Crosby for failing to complete, although I admit this is an unlikely scenario.

    Also they could not borrow 200k if the valuation was 185K irrespective of their incomes. The mortgage lenders ain't stupid, they know the game is up.

  7. The updated link for the Sunday times article Balance the boom is

    http://www.timesonline.co.uk/article/0,,2091-2114546.html

    The Central Bank last week required Irish banks to provide 100% cover for mortgages where the value of the loan exceeds 80% of the value of the property. In short, that means the Central Bank believes property prices could fall. Interest rates are on the rise, however incrementally, and exacerbate the risk of the housing market unravelling.

    Gonnabe a lot of Dubliners choking on their macchiato's in a few hours time :P

  8. Our leadership has a vested interest in keeping this debt bubble going, so its a bit odd when a department issues statistics showing a drop in the price of second hand houses, this does not square with the VI's, but don't worry that's being taken care of. ;)

    Hopefully, you will get an idea from these articles, what it feels like to be a FTB here, especially when your Taoiseach tells you you've missed the boat. It also appears that the people who bought pre-2000 are selling up or borrowing against the increase in value of their existing holdings to inflate the price of property in the UK and abroad.

    but . .

    and to top it off

    PS. Can I borrow your copy of "Sheep may safely graze"

    Welcome Green Bear!

    Can you call the end to the mayhem?

    I was thinking of flogging my 2 bed in Jan 2007, but a lot of the SSIA soft money doesnt come out till July 2007. On the other hand who knows what impact the rate rises will have on sentiment. Better out a little bit 2 early than a little 2 late, I think.

    Its the classic game of chicken :lol:

  9. http://property.timesonline.co.uk/article/...2111075,00.html

    Darren Waller, director of Livingspaces, the Newcastle upon Tyne estate agency, says that the Baltic Centre in Gateshead, which opened three years ago, has had an impact on revitalising the Quays area on the banks of the River Tyne. “It was several things coming together. We had the Millennium Bridge, we had the gallery, and we were competing to be the next European Capital of Culture. The area was getting known and talked about, which helps to bring people in.

    “We are selling to actresses, footballers and we have just sold an apartment to a director of opera companies in the US. It’s a lifestyle thing. We get the dinkies (double income, no kids) and the empty-nesters who want to be on the river. It’s a great location. It’s beautiful. It’s got the views and security. And its so close to the city centre that you can walk there.”

  10. 'Clawback' clause causes concern

    An unusual profit clawback clause requires high-value apartment buyers to give back to the developer profits they may accrue through resale of their property.

    Donal

    Buckley

    THE Office of the Director of Consumer Affairs is to investigate a complaint from the solicitors' Conveyance Committee of the Law Society about an unusual profit clawback clause on upmarket Dublin apartments.

    The clawback was introduced by Dublin developer Radorra for the first tranche of apartments it is selling next to St Vincent's Hospital on the Merrion Road, Dublin on a site which was bought from the Sisters of Charity.

    The clawback would result in purchasers paying back 100% of profits from selling on an apartment in year one and phased clawbacks down to 10% of the profits on a sale in year 10.

    Kevin O'Higgins of the Dublin Solicitors Bar Association originally raised the clawback clause with the Conveyance Committee of the Law Society and through them with the Director of Consumer Affairs.

    Unfair

    He believes that the clawback clause can be deemed an unfair term under consumer legislation. Such unfair terms can be can be outlawed when the courts considers it illegal to impose clauses on consumers who have little choice but to accept the terms.

    Some years ago when a number of unfair terms were introduced into property contracts, the Law Society encouraged the Director of Consumer Affairs to bring a case to the courts and it resulted in the land mark judgement outlawing such terms.

    However the profit clawback clause was not part of that case so there is no judicial decision of its legality. As well as the protection of the consumer the clawback may also pose a problem for banks and mortgage providers. When the home buyer cedes away a good chunk of the equity to a third party, then the banks may be concerned that such a condition would affect the potential equity in the property.

    A spokesperson for Radorra confirmed that it has been in correspondence with the Director of Consumer Affairs on the issue. He explained that the clawback clause was based on similar terms used by Dublin City Council (DCC) in its contracts for sale of homes under the affordable housing scheme.

    "As with the DCC scheme, the clawback is designed to deal with a situation where the purchasers will be acquiring the properties at a significant discount to the market value. It is an exceptional case arising because the initial booking deposits were taken over three years ago. In the meantime the properties have appreciated considerably in value., The sales will not be completed until the second half of 2007.

    Asked if the clawback would apply to future sales at the development, the spokesperson pointed out that the contracts that had been issued were exceptional because of the three year time gap. Another unusual aspect of the deal was Radorra's request for a 25% plus deposit at the contract deposit stage. This is more than double the normal deposit of 10% which is due at this stage.

    Under the Irish Home Builders Association Purchaser Protection Pledge, the normal deposit payable at the contract stage is 11% under stage payment style contracts.

    The spokesperson for Radorra said that it is covered by the pledge and by Premier Guarantee. The latter's normal deposit cover is usually 10% of the purchase price.

    Radorra's contract is not a stage payment contract.

    However the time limit set by Radorra for the return of the contracts was only 10 days compared to the three weeks set out in the IHBA Pledge.

    Furthermore the pledge states that "the contract shall be in the form of contract approved by the Law Society and the CIF and shall remain unamended except as to matters of title or other matters which are generally regarded within the legal profession as proper matters for amendment."

    Radorra itself acknowledges that the clawback is exceptional and The Law Society's conveyance committee clearly does not consider it as a proper matter for amendment.

    No complaints

    A spokesperson for IHBA said that he had not seen the contract and had received no complaints about it.

    Despite both the scale of the deposit and the clawback, the spokesperson for Radorra pointed out that all of the purchasers who paid the initial booking deposits had stayed in and accepted the terms of the contract. Despite Radorra arguing that the clawback precedent was set by DCC's affordable housing scheme, Mr O'Higgins says that this will not count in legal terms.

    He believes that what the Government does is a different matter to the terms that apply in consumer law.

  11. And from the Halifax also out today

    The North (-1.2%) was the only region to record a house price fall in Quarter 1. This modest decline, however, needs to be viewed in the context of a 147% rise in the average price in the region over the past five years. Moreover, we do not expect this recent fall to mark the beginning of a downward trend in property prices in the North.

  12. According to the FT:

    Bit selective there, youve got to feed the bears some scraps :P

    Estimates vary of how long it will take residential property in Newcastle's better locations to recover the 10 per cent - 15 per cent lost when confidence fell in mid-2004. "Prices won't go up dramatically in the next six to nine months," says Mr Sayer.

    But agents agree with Ed Seymour, a partner in King Sturge: "People are realising that the media-led doom-mongers have been proved wrong."

    The gap between asking and accepting price in the city centre flats market has halved over the past 18 months to 4 to 5 per cent. Sue Bartram, managing director of Groves, says: "There has never been a narrower gap between Newcastle and London."

    Good news for bears, bulls, pigs and sheep, in the Nationwide's regional report for the North Q1 2006.

    http://www.nationwide.co.uk/hpi/historical/Q1_NORTH.pdf

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