Finance Committee: the beginning of July Sfatta the distribution (5 million) and the (100) salary By: Supervisor

[FXStockpiling]

Announced that the Finance Committee for the distribution of Sfatta the (5) million in the first of July. A member of the Finance Committee and the representative / National Alliance / Abdul Hussein al-Yasiri: will a bank Rivers and good lending to staff to (5) million dinars, the beginning of July provided that the employee is installed on the permanent staffing. He said Abdul-Hussein

: As for the loans, the (100) salary is for the purpose of housing on the condition that the owner owns the piece, noting that these loans were given to some of the slides previously, but was stopped and now the re-launch position again and will start at the beginning of next month. The amount of the advance is is the sum of (100) salary names of the employee, divide the payment to (120) monthly installments, for a period of 10 years. It is noteworthy that among the conditions for the employee to this advance, "that he had been in his service in the state (5 years), as well as shall be obligated to provide support for his own residential property in (6) months from the date of receiving the advance. "

http://www.diwan-news.com/news.php?action=view&id=1386

I can't make heads or tails of this...

[Tuck]

Sounds as if its a housing 'loan' spread over 10 years to people who have been permanent employees for 5 years, and who can show property ownership within 6 months. I don't know if this is a 10 year repayment structure or a 10 year allowance toward housing.

This is just my take, and I certainly don't understand the language clearly.

[FXStockpiling]

Sounds as if its a housing 'loan' spread over 10 years to people who have been permanent employees for 5 years, and who can show property ownership within 6 months. I don't know if this is a 10 year repayment structure or a 10 year allowance toward housing.

This is just my take, and I certainly don't understand the language clearly.

I agree. So then the rest must be that they will loan up to 100% of salary up to 5 million dinars with 120 payments over 10 years?

[Derek2011]

hmm shouldn't that be more than 5,000,000 dinars? I mean what kind of house can you buy with $4200? That may be a good find... But then again, at a $3 RV, that would mean $15,000,000 and that seems excessive for one guy- unless the figure is to cover all employees together

A LOP and RV would mean about 15,000 but that still isn't enough for a house

It looks like the average house price is just under $200,000 in Bagdad.

http://www.trulia.com/real_estate/40003-Bagdad/market-trends/

Edited June 19, 2011 by Derek2011

[FXStockpiling]

hmm shouldn't that be more than 5,000,000 dinars? I mean what kind of house can you buy with $4200? That may be a good find... But then again, at a $3 RV, that would mean $15,000,000 and that seems excessive for one guy- unless the figure is to cover all employees together

A LOP and RV would mean about 15,000 but that still isn't enough for a house

Yeah, I was trying to figure out the rate but I don't think there is enough to go on here... One thing is for sure, if you price a house in Iraq 500k dollars will get you a average home and not much yard, I've seen better in the ghetto here in States. So to upgrade to something more fit for the upper class 15m may be about right...

[Tuck]

FX - Are properties really that expensive in Iraq? I wonder how the working folks afford housing......and I'm not trying to get into a conversation about currency restructuring, either. I suppose I'm wondering if folks retain residence from generation to generation.

I find this information quite relative to the Iraqi's economic future - and why would they 'loan' 100% of salary - I guess capped at $5M? I must be missing something here, because that financing structure seems nonsensical to me.

[Tuck]

Sorry, FX and Derek - both of you responded to the same questions I just addressed - I just didn't read the thread thoroughly.

I do think this bit of news, in whatever fiscal appropriation has been determined, is big news for Iraqis, and could be a penetrating economic boost.

[majors121]

those house prices were from bagdad, KY....not Baghdad irag

here is the link for the rest of that story. http://www.trulia.com/real_estate/40003-Bagdad/

Edited June 19, 2011 by majors121

[Tuck]

Restarting this program - , well intentioned, - sure seems to have a core inflationary potential.

[FXStockpiling]

here is a slum castle 180m dinar or $180k or after RV $600k +?

http://www.mredy.com/?mod=show&lo=kom_68&l=ar&i=49343

[Tuck]

Thanks, FX. Seems a bit pricey. Nice door.

[FXStockpiling]

Here you go, just needs the final touches. Only bombed once or so... 350m Dinar "What a bargain!"

http://www.mredy.com/?mod=show&lo=lan_6&l=ar&i=53636

[MAW33326]

Here you go, just needs the final touches. Only bombed once or so... 350m Dinar "What a bargain!"

http://www.mredy.com/?mod=show&lo=lan_6&l=ar&i=53636

Thats a sweet post. lmao thanks

[AoK]

HA HA! 350M and no fixtures or appliances? LOL

[FXStockpiling]

ok one of the better homes here $1.44m or post RV $4.6m +

http://www.mredy.com/?mod=show&lo=lan_6&l=ar&i=49842

[FrankenSLI]

Not quite sure how to break this down.

[Tuck]

Franken, were they in our real estate market, I'd say the sellers have it, and if nothing else, these prices definitely compute to core inflationary pressure...which I'm certain is ill received.

FX, thank you for posting pictures of housing!! I appreciate it very much.

[FXStockpiling]

No problem Tuck, thanks for your input. I feel that this news post has enforced my feeling of the RV before or at the first of July... Just trying to figure out the rate now

[FXStockpiling]

With all this talk of deleting zeros,

Someone reminded me of my post: the beginning of July Sfatta the distribution (5 million) and the (100) salary By: Supervisor

Read more: http://dinarvets.com/forums/index.php?app=forums&module=post&section=post&do=reply_post&f=5&t=71200#ixzz1QEc0IiT4

If Deletion is true then, these loans that max out at 5 million dinar will only be worth 16.5k

May be some hope yet because you can't build a house in Iraq for 16.5k