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THE SOCIALIST PARTY’S Joe Higgins has encouraged the public to boycott the government’s planned €100 household charge – saying the government could not “coerce” over 1.5 million households.
Speaking in the Dáil this morning, Higgins said the charge – which will require households to register with their local authority before March next year – was an opportunity for the public to “have their own referendum on these ruinous austerity policies”.
“We will arrive at the end of March with the vast bulk of the 1.6 million householders having boycotted this registration,” Higgins predicted, saying the boycott could “break this unjust tax”.
Taoiseach Kenda Kenny defended the charge, which is required under the EU-IMF programme, by saying the charge was the equivalent of €2 per week and that the government had made many exemptions for people receiving rent supplement or other benefits.
Two opposition TDs yesterday said they were prepared to break the law and neither register for, nor pay, the €100 charge.
Speaking in last night’s Dáil debates on legislation formally introducing the charge, the Socialist Party’s Clare Daly and independent TD Thomas Pring both said they would not pay the charge.
Daly, a TD for Dublin North, said the government’s plans for the charge – which is required under the terms and conditions of the EU-IMF deal – were “reprehensible”.
She also feared that the charge could be raised by up to €1,000 in the next “two to three years”, the Irish Times quotes her as saying.
Daly encouraged the public simply not to register for the charge, telling environment minister Phil Hogan: “You can’t bring everyone to court.”
Pringle, meanwhile, told the Dáil that he would also not register for the charge – saying it was a measure “too far” for struggling households.
He added that he would support those who refused to register with the local authority.
Debates on the Bill will continue in the Dáil today.
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100%, buy to let, interest only, tracker mortgages.
FFS.
100%, interest only, tracker, rent a room, on a temporary work contract, 7-8+ your income mortgages,
to buy a technically derelict, death trap timber frame shoebox in a ghost estate built on a flood plain,
not to mention a personal loan to furnish it,
a car loan to buy a new car for your new driveway,
and a credit card with limit that increases automatically every few months………
And now these pig bankers try to blame Joe Public????
If only the rest of the people thought like you. Then we could go to work rounding up these loan sharks.
Can’t a pay or wont pay??
You better get some advice fast from
NAMA’s (200k a year NAMAdole) Goldenboys,
or (Wales’s finest) Ivan Yates,
or (above the law) Mick Wallace,
or (dodge the court order) James Reilly,
or Westlife’s Shane (I’m ”Filin” in the UK) Filan.
or (I won’t pay for what I don’t use) Hogan.
They will all sleep well tonight knowing that you are picking up the tab for them.
Keep paying your Ponzi Mortgages and property taxes guys.
”This whole mess was all your fault anyway”
According to the corrupt overpaid Bankers, Senior Civil Servants,Politicians and their Media bedfellows.
”You trust them so much don’t you”???.
and the winner is……Cavan!
They think it’ bad now! Wait until the ECB start raising rates again. Tsunami of defaults at that stage.
Frightening stuff, this black hole keeps getting bigger and the headmaster wont talk about it.
Quite interesting figures and very surprising Dublin features as a county with some of the lowest default percentages given its a region were most home owners either purchased way above true value, likely to have some of the highest mortgages and worst of all serious negative equity. It would appear news of the personal insolvency bill has led to another interesting development, panic by various financial institutions rushing to register personal judgments in personal debt cases prior to the bill being finalized, i suspect the district courts will grind to a halt before christmas. Has anything really changed over the past 4 years, seems the powers that be continue to have their head in sand. Just to top off all this wonderful news, we learn unemployment has yet again risen. We hear little about personal debt and yet beneath the surface and with people trying to focus on paying their mortgages albeit in most cases under special arrangement, the personal debt crisis is I believe far greater, one wonders with the cost of living rising, new taxes, childcare and back to school costs and fuel prices off the scale, how in heavens name can anyone pay built up personal debt in the current climate.
Interesting information in that report. I read elsewhere that this Moody’s report is the first that breaks down mortgages that are in trouble by county. I find it very odd that the authorities in Ireland have not produced such a report yet. I would have thought it would be important information to have when drawing up the new insolvency laws and ensuring the banks have adequate resources to deal with defaults. Possibly it’s more of the head in the sand syndrome…
Negative equity isn’t actually that important when it comes to mortgage default.
What counts is whether you still have an income to be able to make your monthly payments.
To that extent, Dublin and Cork, both of which have strong multi-national employment bases, are going to be less affected than other parts of the country that were more dependent on retail, construction and sectors of the domestic economy.
I think Dublin has one of the lower rates as most moved out of the city during the boom or bought second house to rent or holiday homes, or live in the big house in the country and rent the Dublin home out…
You just have to drive on and road around Cavan to see all the boom houses that were built.
@ Chris Mansfield.
Negative equity isn’t actually that important when it comes to mortgage default???
What counts is whether you still have an income to be able to make your monthly payments???
Isn’t that important Chris??
Isn’t that important to who Chris??
The corrupt banks???
Some unfortunate people have 60/70/80%+ negative equity on badly built, glorified squats.
Bought from a government and bank property ponzi scheme.
What happens when the interest rates go up Chris??
Or you find out after 10 years of paying €10′s/€100′s of thousands on your overinflated mortgage that your home is technically derelict, badly located and worthless???
Maybe the people who aren’t paying their mortgages are the wise ones Chris.
Are you in denial??
Are you happy to gamble away €50/€100/€200K+ waiting for an inept government/senior civil service and corrupt banks to come up with a solution for you??
NAMA’s finest stopped paying their loans 4-5 years ago,
they are sitting on millions,
they are allowed to keep their palatial homes,
they are allowed to keep most of their cars boats and other toys,
they get €100-€200K a year NAMADole courtesy of the taxpayer,
they are doing sneaky lucrative self serving deals behind closed doors,
And the government love them and give them media immunity.
Maybe its time mortgage holders should follow their example??
1 in 5 mortgages in trouble?
And everyone who took out a mortgage between 2002 and 2008 in denial.
Does anybody know any more details on the 20% of morgages in trouble ie how many of these are mortgage holders with multiple separate mortgages ? Is it possible the number of individuals in this situation is a lot less than 20% of all mortgage holders . I think this information should be in the public domain.
Thats true Bryan, i know someone in Dublin who have a family home, they a bought a 2 bedroom apartment for €375,000. The mortgage for the apartment is 5 months behind. Id say many more people are in the same situation with 2nd properties.
What do you expect????At EVERY budget in the past 3 years cuts in wages plus more taxes.I am a mortgagee and struggling.It is living hell.All for the benefit of these greedy bankers who are constantly blaming us public service workers.
Relative to arrears, there is a minuscule repossession rate on residential properties. The banks are happy to keep this status quo as they are capitalised by the government, they save face and the reality of just how bad their loan portfolio is not realised in the present.
Cavan..well there’s a shocker!! Driving through the county are houses you would see in the Hamptons, I guess years later they realize they don’t have the funds to pay for such mansions!
Total agreement with you TOT, the stunning contrast when you pass into Fermanagh is astounding. From a mortgage payer, mortgage going up but wages going down, the two lines will cross over and something will have to give!
I’d love to hand it back!!!!!!!!!!! Rope around the neck hate having a mortgage….
When you look at the massive decline in investment in the domestic economy in the last qtr (-29%). The 5% decline in domestic demand, taking us to a 4 yr low in consumer spending.
and an international economic picture that is nothing short of brutal, well its going to be a rough few years ahead yet.
<<lost job, in arrears, and interest only,,,, thats depressing,, but,,, if i loose my house, they will have to house me and pay more to house, myself and kids , and i only owe 90 thousand,, but they will give me new house as loads around in all these estates,,, such a joke,,, but come to tralee and see our town, no work, nothing coming down this way, but 2nd hand shops flying with government paid schemes, thats all we have is schemes,,, i did a course over a year ago and got no results, no papers,,, kids wont go to college and will end up on dole as i cant pay taxes, barely feeding ourselves,,,, but they live high on the hog, expensive hotels, phones, and big pensions, while the regular irish joe, who worked all their lives barely lives, they will take bankers to court, but, bankers can only be fined 2500, so we will pay a judge , barristers and court officials ten times that,, what a joke,,
sorry but i really am pissed off , the shit they are getting away with, its a disgrace, but day i loose my home i will be outside the dail, begginggggggggggg,,,, with my kids,,,, it may open there eyes to see normal people not druggies, and gypsys, just normal people
…BBC World News reported “Normal” people dwelling in tent camps like in John Steinbeck’s “Grapes of Wrath” ….seeds of discontent….
yes , i may become a migrant worker ,,as there is nothing in tralee to keep anyone , anyone that has worked and lost jobs are suffering, while others that have never worked line the bars and can afford to go shopping, very hard for the new poor who have worked over 30 years, payed their taxes, mortgages, went on holidays, and now glad to have a bag of potatoes and few packets of soup to last the week,, times seem to have gone back to another era, guessing prostitution, theft and murders all to follow
If our corrupt/criminal bankers were to tell the truth, every mortgage that they sold between 2002 and 2008 is screwed.
I’d say it will be a lot worse than 1 in 5.
There were a few hundred thousand mortgages a year drawn down in the boom times when property prices were artificially over inflated.
The banks are currently dishonestly classifying interest only and tracker mortgages as performing.
When the interest only term expires many of these mortgages will inevitably default and when the ECB goes up so will many of the trackers.
There were 90,000+ residential units built a year at the peak and sold at artificially over inflated prices.
I doubt the mortgage default stats take into account those who have second homes in counties such as Leitrim. Cavan, Roscommon etc and live in Dublin for example. I know of one person who bought 20 apts in Belturbet back in the boom days…. For the tax breaks!!! How many more like him are out there?
There seems to be a reluctance to separate out people who can’t afford to pay the mortgage on their family home, this being there one and only mortgage from those who have multiple mortgages . It may be possible to come up with more creative solutions for the family home group but I suspect the banks have a vested interest in lumping all together and thereby keeping the political pressure on. By moving every so often against somebody’s family home they keep the pressure on. If they were to isolate out the investment mortgages maybe people would be shocked by these figures relative to the number of single family home mortgages in arrears. Just a thought but the figures should reveal all . Being a little skeptical of statistics is no bad thing. I have great sympathy for either group though. Being in hoc to the bank is very stressful for all concerned.
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