11 May 2012 22:26:

 "but who did they penalise? The pensioners! They deducted €32a month from their pensions, scandalous and shame on them" 

Obviously MetGB you are not working in Ireland at the moment - E32 a month is pittance compared to what the taxpayer has to pay a week in Ireland due to austerity measures which kicked in January 2011.  Most working people would say today that anyone who is retired at the moment and drawing a pension are the lucky ones and are on the pigs back - when it comes to my husband and I retiring we have to wait till 68 I don't think we will be in such a position as people who are retired at present.  My mum is a pensioner and 85 and depends solely on the state pension and is well able to survive on what she gets per week on saying that her needs are very little in that she doesn't travel on foreign holidays but other than that has a good life and thinks she gets a good amount.

 

This message was last edited by angela59 on 11/05/2012.

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11 May 2012 19:08:

The original question was about the property market every recover, two years ago we had an oversupply in Ireland of appox 300,000 houses/apartments that figure has since reduced - prices are still falling - some say we have over corrected by as much as 26% - this may be the case - the only problem is the banks are not lending to people who are willing to buy at these deflated prices even though they have good jobs and have saved up a hefty deposit - again the banks should be held accountable for their actions - we don't want another "bubble" on our hands just a normal functioning property market.

Spain - the banks have God knows how many properites on their books and are willing to give out 100% mortgages for these to off load them.  On the other hand there are better properties in good locations which are not repossessed and the banks will not lend.  The only people buying are northern europeans and Russians - cash buyers.  The Norwegians are buying at presenet as their currency is strong at the moment so they get more bang for their buck.  Properties are selling but at what reductions - at the moment on the costas the  official figure is that properties are selling at 30% reduction.  Until the oversupply of two million properties has reduced prices will not stabilise and until like Ireland the banks start to loan money there will not be a proper functioning market..

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11 May 2012 18:41:

At least Ireland is a little further along in the recession than Spain is and is dealing with problems - I don't think you can generalise that all building done in the boom were bad of course there are "cowboys" - they are everywhere.   Some estates were badly built - again not all of them. The docklands of Dublin and some of the architecture have turned out well - the infrastructure improved due to the celtic tiger - we also have a lot to be thankful for.  The banks and the way the financial regulator acted have a lot to answer for during that time.  I think we are at the tale end of the dark days now whereas I feel spain may be only heading into the eye of the storm. 

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11 May 2012 18:09:

I think once the oversupply of 2 million houses has diminished and the banks start lending which by the looks of it will be a long time.

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24 Mar 2012 01:24:

Thanks Claire,

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