Newstalk: Lunchtime speaks to Irish Mortgage Brokers about ‘mortgage caps’

Jonathan Healy of Newstalk spoke to Karl Deeter about capping mortgage loan to values and loan to income amounts. This is a logically compelling idea but it won’t fix the supply shortage or necessarily prevent the problems we are told it will fix. It will also mean that about 2 in 3 first time buyers face an adverse effect that people who already bought didn’t have to deal with, namely that of trying to save up a 20% deposit.

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Newstalk Lunchtime – priced out of housing?

We spoke to Jonathan Healy on Newstalk’s ‘Lunchtime’ about the issue of rising house prices and how the solution is more supply, at least relative to many other commonly prescribed fixes.

We also discussed the idea of there being a fee for making a bid on a property as well.

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Lunchtime on Newstalk

We were asked to speak to John Keogh on Jonathan Healy’s show (he’s covering while Jonathan is on paternity leave), to discuss the issue of rising rents.

We tried to emphasis several pertinent points, firstly is that prices are where they were in 2003, second is that rising house prices are meant to be good (we are told) but rising rents are not, what people want is rising prices and dropping rents and that’s not realistic.

Lastly is that the most impressive rent increases were not made by private landlords, they were made by the state and local authorities who have pushed up rents 80% while private rents are static over 10 years! Hopefully some of the true data makes it through to the public domain.

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Newstalk Lunchtime: Jonathan Healy & Karl Deeter on CSO house price increases

We spoke to Jonathan Healy today and made the point that (didn’t seem to crop up elsewhere yet) that banks are creating a false scarcity in properties for sale by sitting on non performing loans and not moving in on them. We demonstrated only yesterday that the ‘flim flam’ of ‘we may or may not repossess you’ is a real thing.

The investors don’t fear them, our chat with a strategic defaulter only solidified that belief. At the same time the absence of reasonable lending amounts coupled with this false scarcity means prices will rise, and the good news for banks is that it means provisioning less for loss making loans!

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