Recalling the Celtic Tiger
Series:
Edited By Eamon Maher, Eugene O'Brien and Brian Lucey
This book looks at various effects, symptoms and consequences of the period in Irish culture known as the Celtic Tiger. It will trace the critical pathway from boom to bust – and up to the current beginnings of a similar, smaller boom – through events, personalities and products. The short entries offer a sense of the lived experience of this seismic period in contemporary Irish society.
While clearly not all aspects of the period could realistically be covered, the book does contain essential information about the central actors, events, themes, and economic trends, which are discussed in a readable and accessible manner. Each entry is linked to the overall Celtic Tiger phenomenon and its immediate aftermath.
The book also provides a comprehensive account of what happened in this period and will be a factual resource for anyone anxious to discover information on the areas most commonly connected to it. All entries are written by experts in the area. The contributors include broadcasters, economists, cultural theorists, sociologists, literary critics, journalists, politicians and writers, each of whom brings particular insights to some aspect of the Celtic Tiger.
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- ISBN:
- 978-1-78997-288-7
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- Oxford, Bern, Berlin, Bruxelles, New York, Wien, 2019. XX, 368 pp., 2 fig. col.
- Cover
- Title
- Copyright
- About the editors
- About the book
- This eBook can be cited
- Contents
- Acknowledgements
- Introduction (Brian Lucey / Eamon Maher / Eugene O’Brien)
- 100% mortgages (Constantin Gurdgiev)
- Accidental Landlords (Karl Deeter)
- Advertising (Patricia Medcalf)
- Ahern, Bertie (Sean Barrett)
- Anglo Irish Tapes (Constantin Gurdgiev)
- Ansbacher Accounts (Constantin Gurdgiev)
- Auditors (Neil Dunne)
- Bailout (Charles Larkin)
- Balanced Regional Development (Lorcan Sirr)
- Bank Lending Policies in the 2004– 2010 Period (Joe Brennan)
- Bank Regulation (Frances Coppola)
- Bank Solvency Crisis (Frances Coppola)
- Banking Culture (Stephen Kinsella)
- Banville, John (Eoghan Smith)
- Barrett, Sean (Charles Larkin)
- Black Economy (Seamus Coffey)
- Bondholders (Brian Lucey)
- Bord Snip Nua (Charles Larkin)
- Browne, Vincent (Eugene O’Brien)
- Buy-to-lets (Karl Deeter)
- Cardiff, Kevin (Charles Larkin)
- Chopra, Ajai (Charles Larkin)
- Cinema and the Celtic Tiger (Ruth Barton)
- Coffee Culture (Brian Murphy)
- Commission on the Private Rented Sector (Lorcan Sirr)
- Communications (Brian O’Neill)
- Contracts for Difference (CFD) (Shaen Corbet)
- Craft Beer (Susan Boyle)
- Credit Crunch (Stephen Kinsella)
- Credit Default Swaps (Stephen Kinsella)
- Credit Rating Agencies (Shaen Corbet)
- Cross, Dorothy (Sarah Kelleher)
- Debt (Eoin Flannery)
- Design and the Celtic Tiger (John O’Connor)
- Dining Out (Máirtín Mac Con Iomaire)
- Divorce: ‘Till Debt Do Us Part’ (Finola Kennedy)
- ECB (Megan Greene)
- Economists (Megan Greene)
- Electric Gates in the Celtic Tiger (John McDonagh)
- Emergency Liquidity Assistance (ELA) (Megan Greene)
- Entrepreneurship (Constantin Gurdgiev)
- ESRI (Darragh Flannery)
- Euro (David Begg)
- Euro: Cause and Consequences (Stephen Kinsella)
- Fianna Fáil (Eugene O’Brien)
- Fianna Fáil and Social Partnership: The Boom (Maura Adshead)
- Fianna Fáil and Social Partnership: The Bust (Maura Adshead)
- Fine Gael–Labour Government 2011–2016 (Eugene O’Brien)
- Free Market (Stephen Kinsella)
- Gastro-tourism (John Mulcahy)
- Ghost Estates (Rob Kitchin)
- Golf Clubs (Eamon Maher)
- Harney, Mary (Martina Fitzgerald)
- Higgins, Michael D. (Vic Merriman)
- Hillen, Sean (Sarah Kelleher)
- Honohan, Patrick (Megan Greene)
- Howard, Paul (Eugene O’Brien)
- Human Resource Management (Na Fu)
- IAS 39 (Neil Dunne)
- IMMA (Sarah Kelleher)
- Independent Politicians (Charles Larkin)
- International Context (David Begg)
- International Monetary Fund (Charles Larkin)
- Internet (Catherine Maignant)
- Irish Fiscal Advisory Council (Seamus Coffey)
- The Irish Pub (Aoife Carrigy)
- Kelly, Morgan (Brian Lucey)
- Liquidity Crisis (Stephen Kinsella)
- Media and the Celtic Tiger: The Watchdog that Didn’t Bark (Kate Shanahan)
- Merkel, Angela (Martina Fitzgerald)
- Mobile Technology (Eugene O’Brien)
- Mortgages (Karl Deeter)
- Murphy Report (John Littleton)
- National Accounts (Seamus Coffey)
- National Treasury Management Agency (NTMA) (Constantin Gurdgiev)
- Neary, Patrick (Darragh Flannery)
- Negative Equity (Darragh Flannery)
- Neoliberalism (Lorcan Sirr)
- Novels of the Celtic Tiger (Derek Hand)
- Nyberg Report (Sean Barrett)
- Oireachtas Joint Committee Report (Sean Barrett)
- Peace Process: A French Perspective (Fabrice Mourlon)
- Peace Process and Anglo-Irish Relations (Mick Fealty)
- Photography (Justin Carville)
- PIIGS Countries (Shaen Corbet)
- Poetry (Eoin Flannery)
- Political Economy (Charles Larkin)
- Professional Service Firms (Na Fu)
- Progressive Democrats (Constantin Gurdgiev)
- Property Boom (Constantin Gurdgiev)
- Public Finances in the Celtic Tiger (Paschal Donohue)
- Publishing (Brian Langan)
- Quinn, Sean (Charles Larkin)
- Referendums (Deirdre Flynn)
- Regling-Watson Report (Constantin Gurdgiev)
- Repossessions (Karl Deeter)
- Riverdance (Harry White)
- Ryan, Donal: The Spinning Heart (Eamon Maher)
- Ryan Report (Catherine Maignant)
- Saint Patrick’s Day Massacre of Shares (Shaen Corbet)
- Second Houses (Constantin Gurdgiev)
- Shopping Trips to New York (Ida Milne)
- Short Selling (Shaen Corbet)
- Single Currency (Constantin Gurdgiev)
- Social Housing (Lorcan Sirr)
- Sports (Shaen Corbet)
- SSIA (Constantin Gurdgiev)
- Suburban Literature (Eoghan Smith)
- Target2 Balances (Frances Coppola)
- Texting and the Celtic Tiger (Eimear Nolan)
- Theatre of the Celtic Tiger (Vic Merriman)
- Tourism (Raymond Kearney)
- Trade Unions (Na Fu)
- Troika (Charles Larkin)
- U2 (Eugene O’Brien)
- Unemployment (Constantin Gurdgiev)
- Unfinished Estates (Lorcan Sirr)
- Universities (Paddy Prendergast)
- ‘We all partied’ (Constantin Gurdgiev)
- Wine Culture (Brian Murphy)
- Women and the Church (Sharon Tighe-Mooney)
- Women in the Celtic Tiger (Deirdre Flynn)
- Women Writers (Mary O’Donnell)
- Notes on Contributors
- Series index
Mortgages (Karl Deeter)
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Extract
Karl Deeter
Mortgages
Mortgages describe a type of financial contract between a ‘mortgagee’, which is the party doing the lending, and the ‘mortgagor’, who is the one doing the borrowing. The financial contract is based upon a property transaction where the property becomes security for the loan. During the Celtic Tiger, specifically if you were of legal age and had a pulse, then chances are there was a mortgage product somewhere that would suit you. By ‘suit’, I mean to the extent that a lender somewhere would grant credit to someone in that position. The traditional model of a salary multiple was put to the side, and loans were available on ‘self-certification’, and other dubious metrics that helped a lot of people who had no business borrowing leverage up beyond what they could hope to ever repay.
By definition, a mortgage is a loan that is granted in return for the first lien (or ownership right) on a property in order to complete a purchase. This lien is registered on the deed in the Land Registry. When you borrow money from a bank to buy a home, you buy from the seller and simultaneously sell to a bank in exchange for the money to do the deal. The bank then has the first lien as mentioned, while the buyer has beneficial ownership, which means that they get to live there, rent it out or do as they see fit, as long as they pay...
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Or login to access all content.- Cover
- Title
- Copyright
- About the editors
- About the book
- This eBook can be cited
- Contents
- Acknowledgements
- Introduction (Brian Lucey / Eamon Maher / Eugene O’Brien)
- 100% mortgages (Constantin Gurdgiev)
- Accidental Landlords (Karl Deeter)
- Advertising (Patricia Medcalf)
- Ahern, Bertie (Sean Barrett)
- Anglo Irish Tapes (Constantin Gurdgiev)
- Ansbacher Accounts (Constantin Gurdgiev)
- Auditors (Neil Dunne)
- Bailout (Charles Larkin)
- Balanced Regional Development (Lorcan Sirr)
- Bank Lending Policies in the 2004– 2010 Period (Joe Brennan)
- Bank Regulation (Frances Coppola)
- Bank Solvency Crisis (Frances Coppola)
- Banking Culture (Stephen Kinsella)
- Banville, John (Eoghan Smith)
- Barrett, Sean (Charles Larkin)
- Black Economy (Seamus Coffey)
- Bondholders (Brian Lucey)
- Bord Snip Nua (Charles Larkin)
- Browne, Vincent (Eugene O’Brien)
- Buy-to-lets (Karl Deeter)
- Cardiff, Kevin (Charles Larkin)
- Chopra, Ajai (Charles Larkin)
- Cinema and the Celtic Tiger (Ruth Barton)
- Coffee Culture (Brian Murphy)
- Commission on the Private Rented Sector (Lorcan Sirr)
- Communications (Brian O’Neill)
- Contracts for Difference (CFD) (Shaen Corbet)
- Craft Beer (Susan Boyle)
- Credit Crunch (Stephen Kinsella)
- Credit Default Swaps (Stephen Kinsella)
- Credit Rating Agencies (Shaen Corbet)
- Cross, Dorothy (Sarah Kelleher)
- Debt (Eoin Flannery)
- Design and the Celtic Tiger (John O’Connor)
- Dining Out (Máirtín Mac Con Iomaire)
- Divorce: ‘Till Debt Do Us Part’ (Finola Kennedy)
- ECB (Megan Greene)
- Economists (Megan Greene)
- Electric Gates in the Celtic Tiger (John McDonagh)
- Emergency Liquidity Assistance (ELA) (Megan Greene)
- Entrepreneurship (Constantin Gurdgiev)
- ESRI (Darragh Flannery)
- Euro (David Begg)
- Euro: Cause and Consequences (Stephen Kinsella)
- Fianna Fáil (Eugene O’Brien)
- Fianna Fáil and Social Partnership: The Boom (Maura Adshead)
- Fianna Fáil and Social Partnership: The Bust (Maura Adshead)
- Fine Gael–Labour Government 2011–2016 (Eugene O’Brien)
- Free Market (Stephen Kinsella)
- Gastro-tourism (John Mulcahy)
- Ghost Estates (Rob Kitchin)
- Golf Clubs (Eamon Maher)
- Harney, Mary (Martina Fitzgerald)
- Higgins, Michael D. (Vic Merriman)
- Hillen, Sean (Sarah Kelleher)
- Honohan, Patrick (Megan Greene)
- Howard, Paul (Eugene O’Brien)
- Human Resource Management (Na Fu)
- IAS 39 (Neil Dunne)
- IMMA (Sarah Kelleher)
- Independent Politicians (Charles Larkin)
- International Context (David Begg)
- International Monetary Fund (Charles Larkin)
- Internet (Catherine Maignant)
- Irish Fiscal Advisory Council (Seamus Coffey)
- The Irish Pub (Aoife Carrigy)
- Kelly, Morgan (Brian Lucey)
- Liquidity Crisis (Stephen Kinsella)
- Media and the Celtic Tiger: The Watchdog that Didn’t Bark (Kate Shanahan)
- Merkel, Angela (Martina Fitzgerald)
- Mobile Technology (Eugene O’Brien)
- Mortgages (Karl Deeter)
- Murphy Report (John Littleton)
- National Accounts (Seamus Coffey)
- National Treasury Management Agency (NTMA) (Constantin Gurdgiev)
- Neary, Patrick (Darragh Flannery)
- Negative Equity (Darragh Flannery)
- Neoliberalism (Lorcan Sirr)
- Novels of the Celtic Tiger (Derek Hand)
- Nyberg Report (Sean Barrett)
- Oireachtas Joint Committee Report (Sean Barrett)
- Peace Process: A French Perspective (Fabrice Mourlon)
- Peace Process and Anglo-Irish Relations (Mick Fealty)
- Photography (Justin Carville)
- PIIGS Countries (Shaen Corbet)
- Poetry (Eoin Flannery)
- Political Economy (Charles Larkin)
- Professional Service Firms (Na Fu)
- Progressive Democrats (Constantin Gurdgiev)
- Property Boom (Constantin Gurdgiev)
- Public Finances in the Celtic Tiger (Paschal Donohue)
- Publishing (Brian Langan)
- Quinn, Sean (Charles Larkin)
- Referendums (Deirdre Flynn)
- Regling-Watson Report (Constantin Gurdgiev)
- Repossessions (Karl Deeter)
- Riverdance (Harry White)
- Ryan, Donal: The Spinning Heart (Eamon Maher)
- Ryan Report (Catherine Maignant)
- Saint Patrick’s Day Massacre of Shares (Shaen Corbet)
- Second Houses (Constantin Gurdgiev)
- Shopping Trips to New York (Ida Milne)
- Short Selling (Shaen Corbet)
- Single Currency (Constantin Gurdgiev)
- Social Housing (Lorcan Sirr)
- Sports (Shaen Corbet)
- SSIA (Constantin Gurdgiev)
- Suburban Literature (Eoghan Smith)
- Target2 Balances (Frances Coppola)
- Texting and the Celtic Tiger (Eimear Nolan)
- Theatre of the Celtic Tiger (Vic Merriman)
- Tourism (Raymond Kearney)
- Trade Unions (Na Fu)
- Troika (Charles Larkin)
- U2 (Eugene O’Brien)
- Unemployment (Constantin Gurdgiev)
- Unfinished Estates (Lorcan Sirr)
- Universities (Paddy Prendergast)
- ‘We all partied’ (Constantin Gurdgiev)
- Wine Culture (Brian Murphy)
- Women and the Church (Sharon Tighe-Mooney)
- Women in the Celtic Tiger (Deirdre Flynn)
- Women Writers (Mary O’Donnell)
- Notes on Contributors
- Series index