Housing Finance

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This paper by Warnock and Warnock studies why the availability of mortgage finance differs so much across countries.

5 Responses to “Housing Finance”

  1. John Corcoran Says:

    http://www.youtube.com/watch?v=vzNO4u8AU3Y
    Lest we forget–this happened 14 years ago;

  2. The Dork of Cork. Says:

    I half listened to RTE radio News today

    There was some girl on about a housing recovery………..

    Some people seem to be getting very exited by it all.

    Whats really sad is that if any capital surplus is created via this brutally inefficient austerity drive then they will most likely waste more diesel building more houses.

    On a day when LUAS recorded record passenger numbers I am sure the houses along those lines will recover first.

    The danger is they will start building more houses in Dublin around life support & transport systems.

    This means less capital /diesel will be available to save what can be saved in the real Ireland outside the Pale.

    In terms of real resource use it will come down to spending another 100million on new Dublin apartments or 100 million on rail & stations to Youghal.

    Given that we are perhaps the most extreme market state on the planet it will no doubt be the apartment option with a further loss of redundancy within the system which will be expressed as “growth” until it too falls back into its own entropy hole.
    And people will be surprised again…………funny that.

    There is a willful rejection of the physical economy within the Dublin sect I imagine as their money tokens are no longer claims on the hinterland outside the Pale.
    Their continued wealth is dependent on Euro Obedience.

    Yee guys have form I guess.

  3. Paul W Says:

    @ Dork
    “There is a willful rejection of the physical economy within the Dublin sect I imagine as their money tokens are no longer claims on the hinterland outside the Pale. Their continued wealth is dependent on Euro Obedience.”

    As I have said before, I think this is right. Ireland is becoming an EU welfare dependant…Destructive to itself though in the longer term. International Ireland has abandoned GNP Ireland…..the problem though is that the life of an ‘exotic whore’ is that the ‘exciting’ aspect will deteriorate into ‘lost slavery’.

    Interesting stuff Dork. Keep the ideas coming. One thing though is that you seem afixed to Ireland as a Nation State….Why?

    Happy New Year.

    Paul

  4. The Dork of Cork. Says:

    @Paul W
    We were never really a nation state – the French knew this back in the 60s before accession and mocked us for this.
    We were linked to the Sterling zone…………

    (Infact if you look at EU fiscal treaty papers they do not refer to us as a Republic…….”The Joke is on Ireland” is the official name for the place I think)

    But we had some (albeit limited) nation state physical systems which gave us some redundancy from outside shocks until 1986 ~

    I am no fan of the nation state system but the banks have skin in the game of the physical economy under such a arrangement.
    It therefore is a higher rather then lower circle of hell in my eyes.

    A honest nation that could spend debt free money into existence is more my type.

  5. fergaloh Says:

    Thanks for that
    It’s worth it simply to read again how good legal systems have such a knock on effect on the finance system
    So many people living in slums as title and property rights are inadequate, consequentially finance is not available as the banks can’t secure their loans

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