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Are they for real?
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Breaking News has this...
Occupy Dame Street Protestors Pledge Solidarity With Evicted Couple
Are they for real?
That couple have 21 properties! If their tenants didn't pay rent for two years, I reckon their tenants would be evicted too, don't you?
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-- skennedy
20/04/12 at 17:57
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 From :
tornaxx
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Posted : 20/04/12 at 19:10 |
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Yeah, that ridiculous! I only have 17 properties so I wouldn't be in the same category as them.
If the Occupy Dame Street people tried to occupy that couple's property, na Gardaí would be there quick enough.
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From :
hydra
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Posted : 20/04/12 at 21:03 |
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| 21 properties? Is it really that much? I thought it was 5
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From :
skennedy
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Posted : 20/04/12 at 21:34 |
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| Hydra, the radio today at lunchtime said they owned 21. They played a quote from Michael Noonan saying it. (Unless he was trying to be funny. He does that sometimes!)
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From :
number10
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Posted : 23/04/12 at 12:00 |
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The word 'own' is a curious one in the context.
It is likely that they have 70% or 80% mortgages on the properties, maybe even higher, and if they bought them at the wrong time, they could be in a deep hole, in terms of negative equity. And now is a shit time to sell - all you'd be doing is crystalising your losses.
Not saying this makes them a great case for sympathy, but I suspect it's a bit facile thinking 'they should just sell the properties'.
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From :
ttemme
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Posted : 23/04/12 at 15:19 |
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are they for real?
no, they're obvi'usly barca mad.
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From :
Maedhbh
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Posted : 23/04/12 at 15:37 |
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| Could you not just type the letter? Would you do me a kindness? Would ya?
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From :
tricky
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Posted : 25/04/12 at 13:09 |
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lets not forget there alleged London Investment Property Portfolio.
Lets be honest, they might be a little odd.
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From :
number10
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Posted : 27/04/12 at 11:10 |
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There is definitely a story there. What can have been going on in their minds? If they are generating rent from those properties, and they have an income, why wouldn't they pay their own mortgage?
I'd say they're totally over-stretched, don't 'own' the houses, but rather have hefty mortgages and if they sell any of the property now they'll crystallise losses and leave an even bigger hole to fill...
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From :
evil_giraffe
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Posted : 27/04/12 at 12:27 |
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“Crystallise losses and leave an even bigger hole to fill...”
There’s that weird Irish understanding of “Losses” again.
Heaven forbid we might take our heads out of our arses for even a second.
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From :
skennedy
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Posted : 27/04/12 at 12:56 |
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| Are they still camping outside their house every night, as promised? They picked a nippy week for it.
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From :
number10
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Posted : 27/04/12 at 16:46 |
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| Would it have made sense for them to crystallise a profit about five years ago by selling the properties at the top of the boom?
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From :
cyberbuli
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Posted : 28/04/12 at 01:12 |
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| There's a lot of hypocrisy when it comes to property here. I suspect that many of the people refusing to pay the €100 property tax are landlords making €500 - €1000 rent a month on each of multiple properties. Sure, they may have to pay off mortgages but nobody forced them to buy all those houses. It's just rampant greed.
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From :
tricky
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Posted : 01/05/12 at 15:50 |
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i demand an update on this - are they actually still out there in the howling wind and rain?
oh how soon we move on.
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From :
number10
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Posted : 01/05/12 at 16:04 |
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| I don't disagree with the observation about rampant greed, Cyber. But I do think that these poor eejits may be sitting on a level of debt that's put the frightener on most mortals...
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