Property speculation

The Recession and housing in northern Ireland

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The recession in the economy means that working people are having to come to terms with growing house repossessions, below inflation pay-increases, and a steep rise in the cost of living. Meanwhile, property developers and banks are busy using the credit crunch and the downturn in the housing market to get Government bail outs, despite the fact that it was their speculative polices that helped created the mess in the first place.

Property developers expect us to bail them out?

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While the rest of us are coming to terms with a deepening recession, growing house repossessions, stagnation in rises and steep rise in the cost of living. In the face of a so-called downturn in the housing market and credit crunch, the wealthy in the form of parasitic property developers and speculators expect to be bailed out by the Government for their calculated error in borrowing too much from Banks and leanding to first time buyers

Developers target Seagrange Park in Baldoyle

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A strong message has been sent to developers Quinn Property over the future of Seagrange Park, Baldoyle, following a public meeting held at Bayside community hall Tuesday July 15th.

Baldoyle and Bayside locals gathered at the community centre to discuss proposals made by developers Quinn Property, along with the Affordable Homes Partnership, to have the Brickfields site rezoned for the construction of a six-storey block of apartments.

The triumph of greed over need

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The construction industry and the property market have well and truly collapsed. House prices have already fallen by about 20% since 2006 and the fall is set to continue for some years still.

Public Private Plundering - McNamara abandons social housing

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So building social housing is "not viable" for the profiteers at construction firm Michael McNamara & Co. What they really mean is that they've got themselves in a bit of a sticky situation by riddling the country with overpriced and unsustainable housing developments and the profits from the "Public Private Partnership" aren't sufficient to get them out of it.

Scapegoating refugees for the Irish housing crisis

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The housing crisis for home buyers and private renters is in part due to the arrival of thousands of people into the country. The vast bulk of these people were born in Ireland but became 'economic' refugees and left for other countries to find work over the last few decades. The lucky ones did so legally but many thousands however were forced to enter the US as 'illegals'.

The people behind the housing crisis in Ireland

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After six years of massive house price increases it is now almost impossible for the average worker to buy a house in Ireland. Average house prices in Ireland rose from 11.3 times the average income in 1989 to 18.2 times income in 1999. The increases in rent and house prices have, for many workers, completely wiped out any gain made from tax cuts in our take home pay. And for the poorest and most vulnerable sections of the working class the housing crisis is becoming a disaster as the rapidly growing number of young people sleeping on the streets demonstrates.

Dublin Dockland to be developed - But Who will benefit?

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The Dublin Docklands, from Ringsend to Sheriff Street, are starting a very major re-development which will take place over the next fifteen years. A Master Plan has been produced and a Dublin Docks Development Authority (DDDA) set up. Already the property developers are in the area buying up the land, a lot of which is owned by state and semi-state companies.

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