Spot Neil this ”epic” idea should net the taxpayer Zero after NAMA have handsomely reward themselves with huge bonuses for this ”historical feat of ingenuity”

My two cents. Yes you’re probably right with your assessment about property prices still going down. There’s a lot of spin coming from estate agents lately. Personally I think anyone buying a house right now is mad, unless they really have to. Wages within the private sector are still falling and more and more people are on short term contracts, which makes it nearly impossible for them to get mortgages. So how can property prices be bottoming out? Under these conditions,I’d say they have at least another 20% to fall.

You can sing that.
I heard them all the way down here.
Preaching lies like
”You’ll never get a house that cheap again”
or
”Look at what they were selling for in the boom”
or
”Sher even if it goes down another €50k it’s still a good deal, sher €50k is nothing”

20% left to fall ??? Based on what??? Prices have now bottomed out in Dublin and several counties across the country … The counties that prices are still falling are still overpriced and will soon hit their bottom and level out like the rest of the country. However the removal of TRS and property tax could impact this and give the market another correction – even then there’s no way that TRS and property tax are going to reduce properties by another 20%

Too true.
We’ve an over supply of empty unwanted apartments, and a stagnant second hand market that’s clogged up because of unrealistic levels of mortgage debt.
This one’s gonna rumble on for years I’d imagine.

Why do you feel that the tax payer should be responsible for people’s negative equity?

Ned. It is quiet obvious. It is because until the negative equity issue is resolved then there will be no return to growth in the domestic economy and we’ll all suffer. Every mother’s son and their business.

Think bigger picture. To clear up the negativity equity problem will only cost a tenth of what bailing out the richest 5k people and the banks has cost but will have an immediate effect on cash flow in this country.

Don’t cut off your nose over equity, you’ve lost your a leg and an arm by bailing out the NAMA boys, who are still driving 150k cars and living in mansions. Every person in this country has.

I’ve no outstanding mortgage for clarification.

Wow Genius!
Selling of a few cheap, rotting, Priory Hall type gaffs built by cowboys with farcical ”negative equity insurance”.
To try and rub the half a million+ people in negative equity noses in it???

This is almost ridiculous as paying NAMA’s ”finest” €200k a year NAMA dole to keep their mansions, swimming pools and tennis courts.

“We have established that concerns over potential falls in house prices remain an issue for buyers. The extension of this initiative will help address these concerns for buyers in nine more counties, in addition to the three included in the pilot phase,” explained chief executive Brendan McDonagh”.

So what you are saying Brendan is that you are willing to stoop to the level of insuring a chosen handful of people against negative equity, so as to try and put a false floor in the property market, that you have destroyed. .

The National Asset Management Agency??
What a charade.
Is this what we are paying McDonagh, Daly and Co a few hundred grand a year for???
What a joke.

I’ve a negative equity mortgage, but I don’t give a sod coz I’ve no kids and no intention of moving.
What do you say to a couple that can’t get themselves and their kids out of a shoe box coz they’re strangled with negative equity?
“Tough luck”?

Nice little well timed press release Brendan.
Throw out a bit of chicken feed to the commoners to try and divert attention from stories like this one
http://www.independent.ie/business/irish/former-executive-farrell-is-quizzed-over-nama-leaks-3258895.html

Where is our media??

Even a limited understanding of economics should tell you that a market in which roughly a third of potential buyers/sellers are frozen out because of the effect of a bubble is not actually a market
It’s a dead man walking!

I’d say to them Stephen, you’re a tad unlucky and also a tad foolish for buying a small overvalued house especially when planning a large family. However, you signed the contract…

the 38 people who disliked this are obviously either individuals who rent or non homeowners. Anyone disliking that comment Tracy has no clue what is really happening in this country, oh to be that blase, naive, stupid and attention seeking, wish I could be

Hi Lamb.. Wait another 12 months…massive new wave of second properties loans heading for the rocks..review the market again after…gut instincts trust me..we have not reached ‘bottom’..

Mine’s heading for the rocks any month now. Plenty more where that’s coming from.

Big problem with that is most of the nama properties are somewhere theyre not needed .

Chances are out of this list , the only properties in dublin or cork are 1 bed apartments outside te city in a dodgy area ,

Aby of the decent sized houses or apartments are in rural cavan or outside athlone or somewhere else that nobody working in any city in ireland would want to live in.

@Stephen Church. totally agree. some in cork are in nice areas BUT are terribly built. one estate i lived in for 2 yrs and it was hell. neighbours were lovely but i dont really want to hear them using the loo, turning on or off lights. the houses were built badly, really badly. anytime i mentioned the name of the estate to builders, all they did was laugh and asked did i get earplugs too. alot of the houses for sale are by the same builder. i wouldnt live in one of those houses no matter what