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House Price Crash Forum


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About CaptainClamp

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    HPC Poster
  1. If you can't repay the value of the mortgage at the end of the term the bank will do worse than throw you out.
  2. The 2001 correction was a bit special, at that stage there were tons of barely-qualified and pretty inexperiences people who'd been drawn into the industry by the Y2K and general tech boom. That correction shook some of those people out. Lately there haven't been nearly as many entrants into the industry as it has a bad reputation post 2001, the CS courses are half empty in many colleges, etc. The interesting thing in any upcoming correction will be whether european/US staff or outsourced Indian staff take the beating. As for myself if I go through another period of unemployment as a result of stupid cycles in this industry then I am out. It pays OK but I live in a high-cost city and it's not enough to build up a proper buffer against this sort of thing. As for the office environment/whether boring and square etc, I find my current place pretty decent, but we have a youngish workforce, flexitime, don't have to wear suits yada yada, didn't fire me for having blue hair. Software companies are pretty different from Accenture (pronounced Ass-enter), investment banks, insurance cos etc.
  3. I agree with the above though it woulnd't have been possible to say it at the start of this year. It will hurt a lot, and for a long time. We might still be dragging ourselves out of this in 2020. And unless we start electing some competent politicians and not people like Bertie it'll be straight back to this shite. If this recession destroys FF it'll be worth it though. Long as the Shinners don't get the support...
  4. Yeah and after 30 years paying an IO mortgage you still don't own it.
  5. Not that cheap everywhere. In Ireland currently at €1.16.9, it's a bit more pricey in France. A lot of it is tax of course. Most everything is pretty cheap in the Canaries though.
  6. A pyramid scheme to fight a pyramid scheme. Nicely ironic
  7. And no mention of the rate of increase of incomes, or income multiples. The elephant in the room....
  8. 'Robopaddy' is From David McWilliams' book, The Pope's Children, FYI. The correct answer is 'buy now before rates go up!!' .5% on a smallish 300K mortgage is Eur125 per month. Bit of a hike that.
  9. In fairness this thread went off topic ages ago with the whole police state debate so you can hardly complain now BuyingBear. FWIW I've been suspicious for a long time about 9/11, it was all just a bit too convenient. Look at the videos again. A pretty small amount of structural damage and a small fire, relative to the building structure, and suddenly the buildings come down that neatly? At freefall speed? Straight down, and not at an angle? Both of them practically at once? Not going to happen. A child who's played much with Lego could tell you that
  10. Wow. I got offered a contract in there a few weeks back. The Bankcentre is an absolutely enormous site. This D4 selling up is definitely an emerging trend, Jurys up the road also sold up (to be developed into apartments). Also the RDS is trying to cash in by building office blocks (they were having planning permission issues though. Also how it could be economic for any business other than upscale restaurants and wine shops to rent in D4 I have no idea). Puzzles me how the investors hope to make money leasing the thing back to AIB, it'd make some vague sort of sense if they planned to build dwellings on it too. There's a fair amount of space that could be used for that but I feel if they kept the existing bank stuff on it too it'd be quite cluttered.
  11. Bingley, ever considered changing jobs? The payrises for yours seem to suck mightily As for cheese, ye think you've got it bad, anything non-plastic is about €10/kilo here (Ireland). Grumble. Perhaps I'll start making trips over to Holyhead on the ferry and filling my car boot with Welsh cheddar.
  12. Yep, I know an individual who's been approved for 10x mortgages (on the basis that 3 rooms in the 4 bed house would be rented out). Some colleagues who seem to be in similar boat but slightly smaller mortgages, only 8x or so. Also a couple who got 5x joint, probably on the basis of selling their firstborn into slavery or something.
  13. Oops, it's next year we're due to be net contributors. http://en.wikipedia.org/wiki/Economy_of_Ireland Thought that had happened already there was a fair bit of stuff in the news about it a few months back. Apologies for being a filthy liar.
  14. Sailing, surfing, kitesurfing, windsurfing, scuba diving, sea kayaking, hillwalking, rock climbing. Plus general tourism i.e. looking at old stuff - some fantastic prehistoric sites such as Newgrange, there's also lots of medieval stuff like the roundtowers and the monastic beehive huts on the islands off the west. There's usually traditional music and singing in every town and village on the weekend, there's literary festivals (Listowel writer's week), comedy festivals (Cat Laughs in Kilkenny), general arts (Galway arts festival, Dublin theatre festival and fringe), and random stuff like horse racing, the Galway Oyster festival, even the godawful matchmaking festivals and Rose of Tralee etc. If you're bored it's because you lack originality
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