27 thoughts on “Like Nothing Ever Happened

    1. Gwen

      No, people don’t need to “buy houses”. It’s that mindset that got us into this mess in the first place. People need decent places to live, warmth, comfort and a roof over their heads. If we started giving tenants more legal protection and making the current swathes of empty houses and apartments inhabitable for low rents, we’d be on the right track. You don’t need to put yourself and your family into a lifetime of debt to have relative security and a good standard of living.

        1. Gwen

          It’s probably cheaper to set up your own personal wind turbine and solar panels than it is to pay a lifetime’s worth of electricity bills. It’s probably cheaper to set up a working farm than it is to pay for a lifetime’s worth of food. However, not many people do either of those things, because they’re not easy, and the initial expense is large.

          Most people don’t start out with a lifetime’s worth of money and parcel it out in once-off payments. Unless you can come up with a couple of hundred grand up front, you probably can’t afford to buy a house. Would you take out a loan that big for anything else?

          I’d rather pay a manageable amount per month for a comfortable roof over my head (with maintenance, and the option of easily moving elsewhere) than tie myself to thirty years of debt for a place that still isn’t mine until it’s all paid up. Who cares what it adds up to over a lifetime? I doubt many people measure out their money in terms of what they earn and spend in total over the course of their lives.

  1. North West

    wonder do they differentiate between “approved” and “followed through on and handed over the actual cash”

    1. Rich

      according to some commentators on the radio these approval statisitcs the banks are throwing around dont factor in who actually ended up drawing down one of these mortages. They report the approvals rate to the central bank and all other interested parties but not the amount that are actually drawn down .

    2. Napper Tandy

      No they don’t. They spin the figures to make look like people are getting the cash and everyone in banks and everyone going for mortgages know this yet for some reason most of the media choose to ignore it because we’re all supposed to pretend our way back into the boom times.

  2. gav

    “handed over the actual cash” – this isn’t real either. It’s just what they like people to think. It actually means they type a large 6 digit number into some bank account of theirs. They don’t actually have any of this money at all – its all virtual. When the mortgage is repaid (at twice what you borrowed) the virtual number just disappears back to zero. Look up how monetary system and banking works. Pretty sickening really when you think people have to break their backs working for 30 years to pay back this imaginary number typed into an account in 10 seconds. If people really knew how banking works the system would go down quick.

    1. Derval

      Money in your bank account is actual cash when you withdraw that money at an ATM machine.
      The bank transfers money into the bank account of the seller of a property.

      1. gav

        Banks only have to have a tiny amount of currency (cash) to cover people taking out money from machines or from their deposits. Loans are different, loans literally create money from nothing, its an IOU. This is why banks don’t like rushes becasue if everyone suddenly goes in looking for their money they don’t have it. Regarding loans transfering between banks – yes no actual real money transfers, just numbers change on one bank computer and the other bank computer. They are all part of the same fiat currency system. Do some research and you’ll see its true.

    2. Rob_G

      If you don’t like it, convert all of your savings to gold, and don’t take out a mortgage.

      1. Niall Flynn

        Em, are we not all kinda screwed, gold or not if this bubble blows again, Bailout II – The Irish Groundhog Day cometh imo, how can they be lending like this again? I agree it’s marketing spin and we all have to live with that. But people have a right to say wtf to a bank that was bailed out looking like they have cash to burn, especially with all there new fancyful charges.

        1. Niall Flynn

          Yeah what’s gold got to do with lending….

          And did that not to a bitcoin lately, alas I care not, but yeah this is a bad sign, you thinkl they would drop the fees, rather than the lending criteria :)

          1. Rob_G

            I don’t understand the esoteric points you are making.

            In order for banks to be profitable and not bailed out again, they need to be profitable, hence the charges.

          2. Niall Flynn

            My point is the bank seems to have recovered, is this true have they learned, has the way these loans are being sold changed, is it regulated? Mianly did we learn anything from the last point, the banks can be profitable without handing out loans easily. It’s not our job to keep banks afloat, did we all not see that from the last crash.

            I just don’t see how things have changed, surely it is harder to get a home loan now. This ad seems to be saying otherwise, despite it being possibly over exagerated.

  3. D

    You’d rather they didn’t lend? I don’t get it. As other comments here point out, the issue with the advert is that the real amounts they lend are way less than they imply in this advert.

  4. Justin

    Apparently, this ad came from “aib-banking.com”, which isn’t an official AIB domain, or even registered to AIB itself. This has been causing confusion and several people have reported it as a phish. Even AIB’s twitter account didn’t know about it: https://twitter.com/AskAIB/status/456401363392806912

    Turns out it is registered to Joe Power, Puca Technologies Ltd, 8 Castlewood Place Rathmines D6. They do indeed seem to be running an AIB ad campaign, going by this URL on their site: http://www.puca.com/newsletter/aib-txt-response — so given that, it probably IS official.

    If the banks don’t even take care to make their own official ads look different from phishing scams, how are consumers supposed to be able to avoid getting phished?

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