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baby_tooth
Guest
there was actually a study done, think it was for a doctorate for yale or lse economics thesis where they were able to show an clear economic link between the fortune of the countires soccer team and the countries economy...i kid you not,
will try and find it somewhere in the attic, kept it for sheer madness.
englan - doing crap....
usa - always were crap.
Italy
germany both improving - so is there economy.
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NewMan
Guest
Very little discussion about yesterdays Sunday Business Post on here. I thought a lot of posters where waiting eagerly for it.
How do people feel about the OECD report which painted a more positive picture than is portrayed here?
How do people feel about the OECD report which painted a more positive picture than is portrayed here?
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phoenix_n
Guest
I read that report alright. I was puzzled how they based their argument on the fact that because of forecasted higher immigration levels that the risk of a crash was low. They failed to mention that these jobs were in construction and services and were based on the property boom.
I didn't think it painted a more positive picture. They said that a soft landing is a possibility but that Ireland is still hovering around the danger zone.
People probably didn't comment on it because it said nothing new.
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SHARP
Guest
Competely agree!
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bren2002
Guest
The price drop stats are very relevant to the discussion.
Current public sentiment towards the housing market?
- a vendor or EA (or both) who drop the price of a house are giving their sentiment to the current state of the market - by action not words! By dropping the price their sentiment is that the market is weak.
- also a house price drop also proves that buyers sentiment is changing (as they were not prepared to buy at the higher price).
Therefore, examples of price drops are highly relevant to a debate on public sentiment on the housing market.
- a vendor or EA (or both) who drop the price of a house are giving their sentiment to the current state of the market - by action not words! By dropping the price their sentiment is that the market is weak.
- also a house price drop also proves that buyers sentiment is changing (as they were not prepared to buy at the higher price).
Therefore, examples of price drops are highly relevant to a debate on public sentiment on the housing market.
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Neffa
Guest
I think the SBP article (I assume you mean Nick Leeson's) was little more than a re-hash of the points raised here. There was little new information.
However, I did think their US article was very unbalanced. Every other analyst is quoting the US housing market being in a fair degree of distress, yet the tone of most of their articles (even on Florida!) was that "prices are still going up, even though the market may be a little softer. Now is a great time to get in." Madness.
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phoenix_n
Guest
Agree however for alot of people it was the first time that they were exposed to the harsh facts...lower yields,higher vacancy,longer lead time for sales,low auction clearance rates..
howstrange
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http://www.askaboutmoney.com/showthread.php?t=38320
Things cant be that bad yet if this sort of thing is still happening!
Things cant be that bad yet if this sort of thing is still happening!
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FGM Doyle
Guest
Collapse of the Irish Housing Market and Steve Stauntons Ireland, Coincidence or related??
well, the SBP ran a good few articles, only one of which didn't feel a soft landing was on the cards; that being the one from Leeson, who admits in the article that his skepticism is based on being bitten in the UK in the 80's. Hardly 100% relevant. in the UK in the 80's, 2 things happened which imploded the market, neither of which is happening here:
- interest rates were 14.5 - 15.5%. In our celtic Tiger terms, thats 7 times the interest rate from last year, or 4 times the current. Yet everyone thought propery couldn't lose. Would you take a 100% mortgage at 15%? I doubt it.
- 120% mortgages were commonplace
when it busted, people we so indepted, some just handed their hse keys to their bank
Just looked at that thread €309,000 for a one bed you'd want to be nuts! I assume couples are dying to give their money away because very few single people could afford that
Things aren't always as they seem. They were confused between 1 bed and 2 bed apartments and got a bit carried away with themselves.
Not to say that sort of thing isn't happening, but it certainly isn't happening in Clare Hall. The 1 beds did sell out on Saturday though
That was for a 2 bed - I just confirmed with a phone call, the posters on that thread got confused, and over excited judging by the number of exclamations!!!!!
howstrange
Registered User
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Is nuts! I reckon the 1 beds are selling out quicker is because affordability has decreased due to the higher interest rates! It just shows though that people are still doing whatever it takes to get on the property ladder regardless of current economic conditions! I think purchases like these are extremely risky with signs growing of the property bubble bursting.
Exactly. Nearly every single argument against a property crash is based on the fact that;
The economy is bouyant - 25% is construction.
Migrant workers coming to Ireland - to build houses.
The demand for property is still high - 40% from investors.
Interest rates are still historically low - implying that.....
He was referreing to a different article on an OECD report.
Here is Nick Leeson's article:
Irish property market living on borrowed time
[broken link removed]
That's coming from the man whose risk taking caused the collapse of Barings Bank in 1995.
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