Future Shock: Property Crash

[conor_mc]

Just another aside on that lady: she never actually said that she wouldn't have purchased the apartment if she knew interest rates were going to go up, what astonished me was she said she would have continued to rent in town but 'purchased an investment property somewhere in the suburbs'. Err, even after realising the error of her ways, AND with the benefit of hindsight, she's STILL blinded by the property bug!! A real eyeopener that one I thought...

I noticed that too - it just goes to show how brainwashed we've become as a nation... everybody thinks there's a property investor in them just bursting to get out, despite not having a clue about interest rates and how they work.

 

[Remix]

One point about that lad Kelly - his closing advice made me laugh. Basically he said to first time buyers - "Don't buy now .........

Looks like Eddie Hobbs is now offering the same advice:

"My advice to first-time buyers is not to buy," he says. "They should rent for the next year or 24 months. There's no doubt that property prices will continue to go down and if they save though an institution like Northern Rock they will have capital in the future when prices are lower."

http://www.unison.ie/irish_independent/stories.php3?ca=45&si=1817107&issue_id=15542

 

[gearoidmm]

I was trying to find a link to this show. At the time they put forward a number of scenarios that would lead to a disaster for the economy including dollar at 1.70, oil >$100. I'm not sure about these because it's all from memory. At the time these were derided as being pure fantasy but I wonder how many of them have come true (or are close to being realised). The RTE website doesn't seem to have a link for it anymore

 

[ivuernis]

No, but search YouTube for the words:

Animo TV Future Shock Property Crash

and it will give you 5 clips from the show


What do you do with your crash when you've got it?

 

[polaris]

Very interesting to view these predictions again 13 months later:

"If the dollar were to drift down to €1.50........I think it would provoke a serious recession"

-Moore McDowell

 

[ivuernis]

Very interesting to view these predictions again 13 months later:

"If the dollar were to drift down to €1.50........I think it would provoke a serious recession"

-Moore McDowell

Certainly $1 = €1.50 would have serious repercussions, signifying a resurgent dollar and tanking euro, thankfully $1 = €0.64 ;-)