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The Saker
A bird's eye view of the vineyard

offsite link Alternative Copy of thesaker.is site is available Thu May 25, 2023 14:38 | Ice-Saker-V6bKu3nz
Alternative site: https://thesaker.si/saker-a... Site was created using the downloads provided Regards Herb

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Dear friends As I have previously announced, we are now “freezing” the blog.  We are also making archives of the blog available for free download in various formats (see below). 

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Public Inquiry
Interested in maladministration. Estd. 2005

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Human Rights in Ireland
Indymedia Ireland is a volunteer-run non-commercial open publishing website for local and international news, opinion & analysis, press releases and events. Its main objective is to enable the public to participate in reporting and analysis of the news and other important events and aspects of our daily lives and thereby give a voice to people.

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Lockdown Skeptics

The Daily Sceptic

offsite link News Round-Up Sat Jul 27, 2024 01:48 | Toby Young
A summary of the most interesting stories in the past 24 hours that challenge the prevailing orthodoxy about the ?climate emergency?, public health ?crises? and the supposed moral defects of Western civilisation.
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offsite link Judges Told to Avoid Saying ?Asylum Seekers? and ?Immigrants? Fri Jul 26, 2024 17:00 | Toby Young
A new edition of the Equal Treatment Bench Book instructs judges to avoid terms such as 'asylum seekers', 'immigrant' and 'gays', which it says can be 'dehumanising'.
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offsite link The Intersectional Feminist Rewriting the National Curriculum Fri Jul 26, 2024 15:00 | Toby Young
Labour has appointed Becky Francis, an intersectional feminist, to rewrite the national curriculum, which it will then force all schools to teach. Prepare for even more woke claptrap to be shoehorned into the classroom.
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offsite link Government Has Just Declared War on Free Speech Fri Jul 26, 2024 13:03 | Toby Young
The Government has just announced it intends to block the Higher Education (Freedom of Speech) Act, effectively declaring war on free speech. It's time to join the Free Speech Union and fight back.
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offsite link I Wrote an Article for Forbes Defending J.D. Vance From Accusations of ?Climate Denialism?. Forty Ei... Fri Jul 26, 2024 11:00 | Tilak Doshi
On July 18th, Dr Tilak Doshi wrote an article for Forbes defending J.D. Vance from accusations of 'climate denialism'. 48 hours later, Forbes un-published the article. Read the article on the Daily Sceptic.
The post I Wrote an Article for Forbes Defending J.D. Vance From Accusations of ?Climate Denialism?. Forty Eight Hours Later, Forbes Un-Published the Article and Sacked Me as a Contributor appeared first on The Daily Sceptic.

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If you are a property speculator, come to Dublin

category national | housing | opinion/analysis author Thursday May 21, 2015 23:36author by pbp Report this post to the editors

Guess where a property speculator can get their best return on investment in the whole world? Dublin. It is unbelievable but true. After chaos wracked on Irish society by the Celtic Tiger property boom, the speculators are back.

A global survey by the research company, MSCI, has found that highest profits can be made in Dublin from buying and selling property.

Capitalists generally expect to get a 10 percent rate of return on their investment in industry. If they want more, they shift to riskier areas such as property speculation.

If they chose their city right, they can get a 19 percent rate of return. But last year, Dublin provided the jackpot with a 44 percent rate of return.

Guess where a property speculator can get their best return on investment in the whole world? Dublin. It is unbelievable but true. After chaos wracked on Irish society by the Celtic Tiger property boom, the speculators are back.

A global survey by the research company, MSCI, has found that highest profits can be made in Dublin from buying and selling property.

Capitalists generally expect to get a 10 percent rate of return on their investment in industry. If they want more, they shift to riskier areas such as property speculation.

If they chose their city right, they can get a 19 percent rate of return. But last year, Dublin provided the jackpot with a 44 percent rate of return.

Take for example commercial property. If you belonged to a global hedge fund and wanted to make money quickly you got your minions to scour the computer screens looking for a quick bargain. You then bought up office blocks cheaply and rented out space at an exorbitant price. You could then sit back in your plush London or New York address and live a life of sheer luxury.

Last year there was a staggering €4.5 billion worth of commercial property sold in Dublin.

The Irish government encourages this because, through NAMA, it has become the biggest property owner in the world. It wants to ‘offload’ as much of this property as it can so that it appears that a strong recovery is under way.

One way to do this is by offering tax break to the big vulture funds known as Real Estate Investment Trusts. These tend to buy up a series of office blocks or whole apartment complexes. They gain from the Irish crash and we, the people, pay for their tax breaks by putting up with poor public services.

So the next time you hear a Fine Gael or Labour Party politician tell you that there is no money in the country and they just had to cut respite care grants or slash the wages of public sector workers, tell them about the fortune being made in property speculation.

Maybe, they cut slap a 10 percent special solidarity tax on the speculators. That way we would not have to pay water charges or put up with taxes on the family home.

But that would be challenging the wealthy. And Fine Gael/ Labour could not do that

Related Link: http://www.peoplebeforeprofit.ie/node/1179

 #   Title   Author   Date 
   More on the housing crisis from An Spréach     T    Fri Jun 05, 2015 22:59 


 
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