The Muslim Solution?

[Rat Catcher]

I guess indirectly could be through a corporate entity. However, again we're getting hung up on the Muslim rather than the potential such a scheme could present in the form of social enterprise.

I'm trying to keep it simple but what if Govt let parents invest in housing associations that took the place of corporate build to let schemes?

[Octavia1]

I guess indirectly could be through a corporate entity. However, again we're getting hung up on the Muslim rather than the potential such a scheme could present in the form of social enterprise.

I'm trying to keep it simple but what if Govt let parents invest in housing associations that took the place of corporate build to let schemes?

Your just describing a " landlord" ...despite highest rents ever  ...apparently small landlords are sellin in ther droves on account of restrictions bein put  on ther control of ther assets an 52 % tax on the income ...thers actually a moratorium in place at the moment that tenants don't have to pay ya if they have an excuse ....but the vulture funds can weather such storms for the long term wit unlimited amounts of money stashed in the bank of America

[watty]

Someone posted a salutory story on this site a long time ago.  A taxi driver put money into the credit union for his kid for years and years.  When the kid turned 18, the father gave him the money thinking it would pay his college fees etc.  Instead, the kid ran out and bought himself a little boy racer car.  The father was furious but, as his mates pointed out, he gave the gift and he had no control over what the child would spend the money.

If you saved all that money for your kid and presented them with a house on their, say, 21st birthday.  What's to stop them selling the house and travelling around the world for a few years?  Or investing it in crypto!

If you could afford it, I'd say you're better off saving the deposit on a house.  Don't mention the money but watch them quietly and if they're stable enough, give them the deposit on a house when they're ready to settle down?

[Octavia1]

Your also describing an idea ratt  that's only feasible for  the Dublin 4 wealthy or the money launderin criminal class ....2 houses in Dublin wud nearly cost ya a million today ....yur mate obviously had enormous deposits ....or  large deposits  plus he's a Guarenteed large  income for life 

[Rat Catcher]

Nothing, Watty... but said Child could hardly complain about being homeless as a consequence.

The point is really two-fold. First, the Muslim lad is acquiring two houses for nothing, assuming rent arrangements remain profitable. Second, Govt pay small fortunes in rent to house ne'er-do-wells. Surely there's some way to marry the two into a social housing scheme of some sort... or at least to facilitate relevant investment vehicles for parents who may wish to subscribe. Associations, for example, could facilitate gradual accumulation of a portion of a dwelling or such like.

As above, Octy... Associations could facilitate lower level subscription.

[Octavia1]

If you buy a house to rent at 52 % tax on income ....how is he  getting the houses for nuttin  ?
If the income covers the mortgage then he must have paid a huge deposit ..at least half the purchase price wud he not ? ...an then thers upkeep an property tax etcetera ...

[Rat Catcher]

Mortgage interest can be written off against rent. I guess most of the mortgage payment is interest in the early years, at least. Between management fees, fixtures and fittings, maintenance, etc there might not be a huge profit, if any... but he's not doing it for profit, it's to provide for his little Muslim brats.

[Rat Catcher]

... or to keep Irish homes away from the Irish?

[Rat Catcher]

There is, of course, a risk of potential loss. At some point house prices could collapse and he could be stuck with rents that don't cover the mortgages. That's, perhaps, an area some sort of Govt backed scheme could address?

[Punter]

https://www.irishtimes.com/property/commercial-property/2023/02/01/cairn-homes-secures-131m-from-sale-of-greystones-apartments/


Happy Days for the Council List in Wicklow !

[silverbullet]

https://www.irishtimes.com/property/commercial-property/2023/02/01/cairn-homes-secures-131m-from-sale-of-greystones-apartments/


Happy Days for the Council List in Wicklow !

Neo-Slum
Centralising drug dealers too.

[TheDevilHimself]

Interesting and all as that is... I deliberately wrote "Ignoring any "Irish" interpretation he may have applied to religious doctrines or whatever... in fact, ignoring the whole religious bit altogether" in an effort to concentrate minds on the substance of the concept rather than Muslim bashing,

So you think we should Ignore our own "Irish" interpretation of the religious doctrine which you just made a point of telling us all about ? and that the Irish state should also ignore that  religious element whilst at the same time pandering to it?  Some of us are Irish you know!

[Rat Catcher]

No, the religious aspect is particular to the Muslim chap. As BS notes Muslim chaps have several methods of circumventing such doctrines, all of which could be described as "Irish" interpretations. In any event, unless you're a Muslim they're irrelevant.

[TheDevilHimself]

No, the religious aspect is particular to the Muslim chap. As BS notes Muslim chaps have several methods of circumventing such doctrines, all of which could be described as "Irish" interpretations. In any event, unless you're a Muslim they're irrelevant.

Sorry I mistakenly thought the thread was titled     The Muslim Solution.

[MK]

Ratty, could you elaborate exactly how the muslim chap does it? So that folks can see how to marry the musllm and irish problem into an islamish or muslimish solution. Most of us here haven’t a clue how he has done it, especially the “ hes doing it for nothing “ part


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