Credit institutions must be very careful


Would I be the only one to believe that our banks need to exercise very careful risk management on mortgage loans in today’s volatile housing market?

There are factors in this market that have nuances of the early 2000s housing bubble that caused the latest housing market crash.

Real estate agents are now talking about “offers” on properties – not even “offers”. Should a prudent bank lend against a fair market price announced by agents or against an inflated price promoted by “offers”?

It seems common for prices to exceed fair value by 15% and in some cases by 30% really risky.

Add to that the economic outlook: the stock markets are worried about price inflation in the United States and the potential rise in interest rates; the Group of Seven is close to an agreement on corporate taxation of multinationals, which has important implications for our economic growth; Irish unemployment rates are predicted to exceed 16.1%, higher than in the last recession.

In addition, it is said that personal tax rates will have to increase significantly to repay government loans in the event of a pandemic.

It’s a volatile outlook.

I understand supply and demand. I also understand that uncontrolled house price inflation benefits neither the seller nor the buyer. The laissez-faire approach of lending institutions in the last bubble inevitably led to bailouts and price drops. It is to be hoped that the risk committees of each bank and the central bank examine what is starting to happen to house price inflation with great concern and caution.

It makes sense to lend a percentage over “fair market value”, but it makes no sense to lend against prices inflated by an artificial and opaque “bidding” process.

It is time, in everyone’s interest, for credit institutions to be very careful.

Paul Scholars

Bailick Road

Midleton

O’Leary’s hot air when we give him airtime

Michael O’Leary, when asked about the Ryanair flight hijacked to Belarus, congratulated the flight crew.

Michael O’Leary, CEO of Ryanair.

What did the flight crew do to earn praise?

They followed the instructions to land and later to take off.

Michael O’Leary, in my opinion, has plenty of airtime to kick off his BS.

Michael A Moriarty

Rochestown

Cork

Israel abuses its unfair advantage

Numerous political and media comments on the latest war between Israel and the Palestinian people suggest the existence of an equivalence, both militarily and morally, between the two sides. Since the Palestinians have no standing army, no military fighter jets, no navy, no tanks, no artillery, etc., then such suggestions are, of course, unnecessary.

A more blatant related claim by Israeli spokespersons and their allies in the West, often simply repeated without question by the mainstream media here, is that Israel uses precision warnings and strikes to target only Palestinian militants and not civilians. when attacking residential buildings.

Mofeed Sabit, 64, sits on a sofa along a debris-covered road following an airstrike that destroyed a building before a ceasefire.
Mofeed Sabit, 64, sits on a sofa along a debris-covered road following an airstrike that destroyed a building before a ceasefire.

This might be expected given that Israel has one of the most sophisticated surveillance technologies of any global armed force and maintains a registry of all Palestinian citizens, including all new births. They also have much of Gaza’s urban fabric digitally modeled, and they can not only predict how many rooms in an apartment, but often who exactly sleeps in which room.

So how can this same so-called moral army justify its May 11 attack that destroyed two apartment buildings belonging to the Abu al-Ouf and al-Kolaq families, killing 30 people – including 11 children.

On May 14, they attacked the three-story building of the al-Atar family, killing a mother and three children. Nader Mahmoud Mohammed Al-Thom’s home, where he lived with eight other people, was attacked without warning on May 15. And then there is the case of the respected surgeon and head of internal medicine at Al Shifa Hospital, Dr Ayman Abu Al -Ouf, who was killed at his home by a missile attack early in the morning on Sunday, May 17. , along with two of her teenagers, her parents and her colleague, Dr Mooein Ahmad al-Aloul, a 66-year-old psychiatric neurologist. All of this was reported by Amnesty International.

The deliberate targeting by the IDF of entire families is not a mistake, as Israeli journalist Amira Hass observed. Israel put this strategy into practice during the 2014 war. Are the Palestinians supposed to take comfort in the fact that only 15 families were partially or totally wiped out this time around? Israel also damaged 17 hospitals and / or clinics as well as the main Covid-19 testing center; demolished a media building for international journalists; destroyed sewer and water infrastructure; attacked several schools and shelled the roads leading to Al Shifa Hospital.

Any attempt to establish a moral equivalence between the makeshift Hamas rockets fired in the general direction of Israeli towns and the targeted destruction by the IDF of entire families and critical infrastructure in Gaza is not just a bunkum – it’s downright
obscenity.

Jim roche

PRO, Irish Anti-War Movement

Dublin 1

Coveney’s Critique of the Security Council

Simon Coveney, Minister of Foreign Affairs, was very critical of the UN Security Council and its inability to act on Gaza. It’s interesting – given that Ireland currently sits on the Security Council?

Michael A Moriarty

Rochestown

Cork

Blatant inequity in the ability to pay the LPT

The ability to pay local property tax (LPT) is grossly unfair.

As a PAO on a reduced fee, and with my partner who is in the same category, there is no fair solution to pay or defer the LPT.

instead, we are burdened with a penalty if we postpone. It is just not fair that we have to pay the same rate as many people in our area who have two incomes, and sometimes more, than us.

Frank Dillon

Athlone

FF and FG lack grip on the housing crisis

Fianna Fáil and Fianna Gael are responsible for the housing crisis in Ireland; they never understood it.

This is why they are so low in the polls and if it had not been for the pandemic there would be hundreds of thousands of people on the streets protesting against this government and against the rising costs of buying a house.

Housing is a matter of life and death; 79 homeless people died in Dublin alone last year.

Noel Harrington

Kinsale

Co Cork

Downgrading of history teaching

The Academic Council of Ireland requires Irish history to comprise a quarter of the history modules taken in the academic study of history in the second and third year by prospective second-level teachers. But the new requirements which come into effect on January 1, 2023 only ask that “the degree must include the specific study of Irish history”. This is so vague that it does not make sense. Allowing history to be taught by those who have virtually no accredited knowledge of Irish history is to downgrade Irish history. It should not be necessary to stress that the citizens of the state should know the stories of the peoples who live on this island. The regulation should be reviewed urgently.

Micheál Ó Siochrú

Department of History

Trinity College Dublin

Stop the restrictions and end the fear

With the time that has passed since the restrictions began in Ireland, the amount and intensity of the fear and all the fear that goes with it, I call for an end to this fear. It’s not a fear that helps anyone, if it ever did.

Instead of worrying so much about all of this, I am calling not only to end this specific fear, but all of these restrictions. They have all gone on for more than long enough and it is long past time for them to end. Let individuals decide to take their own risks, without legal or financial repercussions.

Let them wear masks in stores, etc., if they wish. There are always risks, there is always disease and there is always death, but we don’t have to let fear rule our lives.

It is high time to truly relive.

Robbie rowe

Wexford

Refusal of the doctor to give HRT to the patient

I just returned from a consultation with my doctor about starting hormone replacement therapy (HRT) and I was refused treatment.

I am so disappointed. What should women do when they are in perimenopause their own doctor will not give them HRT? Strive through the next few years in a fog of anxiety and depression.

I just have a feeling that if it was a male problem, men would get what they need.

Mel Costa

Galway


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