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gruffydd

How My Irish Dream Home Became A Nightmare

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Well, while she's waiting until 2030, there feck all else she can do...

"I splashed out two years ago on the trendy pad in the Dublin docklands but at the time I had no idea it would end up becoming my own financial prison.

Since reading the Irish Times Property supplement two weeks ago with the headline “A Dockland’s Deal” I have endured sleepless nights and bouts of anxiety and regret when I signed away my life without really knowing what I was getting into.

Two years ago, with help from my parents, I bought into the sought-after riverside location in Dublin 2 for the horrifying sum of $740,000.

However two years on, the corner block of the same aesthetically beautiful Grand Canal Square apartments are being offered to first-time buyers for a sickening $265,000.

...Trapped by negative equity, if I did decide to move, I would stand to make a massive loss on my investment. It has been reported that "those who bought a house in 2007 will have to wait until 2030 before they move out of negative equity"."

:lol::lol::lol: Thanks for that Harry Monk!

Edited by gruffydd

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Well, while she's waiting until 2030, there feck all else she can do...

"I splashed out two years ago on the trendy pad in the Dublin docklands but at the time I had no idea it would end up becoming my own financial prison.

Since reading the Irish Times Property supplement two weeks ago with the headline “A Dockland’s Deal” I have endured sleepless nights and bouts of anxiety and regret when I signed away my life without really knowing what I was getting into.

Two years ago, with help from my parents, I bought into the sought-after riverside location in Dublin 2 for the horrifying sum of $740,000.

However two years on, the corner block of the same aesthetically beautiful Grand Canal Square apartments are being offered to first-time buyers for a sickening $265,000.

...Trapped by negative equity, if I did decide to move, I would stand to make a massive loss on my investment. It has been reported that "those who bought a house in 2007 will have to wait until 2030 before they move out of negative equity"."

:lol::lol::lol: Thanks for that Harry Monk!

I have to be honest, i can only admire her stupidity/honesty in continuing to service the debt, but then thats why shes blonde and Mrs TDeL isnt

Edited by Tamara De Lempicka

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I have to be honest, i can only admire her stupidity in continuing to service the debt, but then thats why shes blonde

Only in places would be my guess ;)

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That is an hilarious thread of images.

As for this woman - how did she manage to get a 740K Euro mortgage? What does she do for a profession?

Yesterday the bill for the management fee came in. It is for $2, 227.00 – another figure I carefully choose to ignore back then. And come December 7th with the Irish budget, I will probably have a property tax on top of this.

Alison O’Riordan is a freelance journalist living in Dublin

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Those images are cruelly mocking a poor innocent young woman who simply wanted to achieve her dream of buying a trendy home, but instead bought a vastly over-priced property at the height of the housing bubble.

Absolutely hilarious!!!

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Those images are cruelly mocking a poor innocent young woman who simply wanted to achieve her dream of buying a trendy home, but instead bought a vastly over-priced property at the height of the housing bubble.

Absolutely hilarious!!!

Nice first post!!

That makes you 100% Schad !

You will like it here - welcome

In fact 100% posts dedicated to Schad, maked you "Schad as Nails"

Edited by sbn

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Just one of hundreds of thousands/millions in a similar position - thanks to the VI's, Banksters - and all those

LIAR LOANS.

:rolleyes:

I guess it was the word "freelance" that wound you up.

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So despite property being a dirty word at the moment they think she will be out of negative equity in 2030? That would need a yearly increase of 5.25%

This is a sad story on two counts.

1) Her mortgage is probably now in the APS via RBS so taxpayers and particularly savers in the UK are footing the bill for their and her stupidity. Meanwhile Fred Goodwin has swanned off with his pension and kept years of bonuses that were based on purely fictitious profits.

2) Our house prices should have dropped the same. Good luck to the FTB over there getting towards sensible prices.

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Forgive me, this is the third time I have posted this image on HPC in the last three days but to me, this is by far and away the winner...

older.jpg

As somebody posted yesterday, at least her arms are aging beautifully ;)

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As for this woman - how did she manage to get a 740K Euro mortgage? What does she do for a profession?

I assume for the same reason that she is carrying on paying. Possibly her parents are somehow in hock for it.

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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